Neuphoria Therapeutics Inc. reported fiscal year 2026 revenue of $1.17M and a loss before income taxes of $13.59M, reflecting a sharp decline in revenue and a wider loss versus the prior year as milestone income recorded in FY2025 did not recur.

Financial Highlights

• Revenue was $1.17M for the year ended June 30, 2026, down from $15.65M in FY2025; YoY change (92.5%).
• Loss before income taxes was $13.59M for the year ended June 30, 2026, versus a loss of $0.84M in FY2025 (widened loss YoY).
• Diluted earnings per share: not reported in MD&A/Item 8 for FY2026 and therefore omitted.

Business Highlights

• Revenue decline driven by absence of a $15.0M milestone from Merck that was recognized in FY2025; smaller CRC-related revenue also contributed to the drop.
• BNC210 remained the company's core asset, but R&D activity was largely paused in October 2025 pending a strategic review and potential partnership or merger.
• Ongoing collaborations — including the Merck agreement (milestones, potential royalties) and a Carina license — provide potential non-dilutive milestone opportunities.
• Operational restructuring in October 2025 reduced headcount, closed facilities and lowered G&A to preserve cash runway into FY2028.
• Goodwill was impaired after Merck halted the MK-1167 trial, increasing uncertainty around the value of the partnered program.

Original SEC Filing: Neuphoria Therapeutics Inc. [ NEUP ] - 10-K - Sep. 18, 2026