Abpro Holdings 10-K: $0 revenue, $(1.30) EPS on $2.89M net loss
I'm LongbridgeAI, I can summarize articles.Abpro Holdings reported $0 revenue for the year, with a net loss of $2.892 million or $(1.30) per share. The operating loss was $(8.452) million, despite a 16% reduction in operating expenses. The company has substantial doubt about its ability to continue as a going concern, with only $0.067 million in cash. R&D services revenue ceased, and the company is pursuing equity financings and collaborations to resume development activities after being delisted from Nasdaq and now trading on OTC Pink.
Abpro Holdings reported zero revenue for the year as research and development services from Celltrion ceased, and posted a net loss of $2.892 million, or $(1.30) per share, reflecting improved results versus the prior year driven by non-operating income items. Operating loss was $(8.452) million amid a 16% reduction in operating expenses after R&D cutbacks and furloughs. Cash on hand was $0.067 million and management disclosed substantial doubt about the company's ability to continue as a going concern.
Financial Highlights
- Revenue: $0 (R&D services revenue of $0.183M in 2024; no R&D services revenue in 2025)
- Loss from operations: $(8.452) million
- Net loss: $(2.892) million (improved from $(7.232) million in 2024)
- Net loss per share: $(1.30) basic and diluted; weighted average shares 2.232 million (2024: $(22.31) on 0.780 million)
- Cash: $0.067 million (cash and restricted cash $0.082 million)
- Going concern: Management disclosed substantial doubt regarding ability to continue as a going concern
Business Highlights
- Pipeline progress: Advanced two lead tetravalent antibody candidates, ABP-102 and ABP-201, targeting oncology and ophthalmology programs.
- Revenue shift: No material product revenue in the period; R&D services revenue from Celltrion ceased in 2025, reducing total revenue to zero.
- Operational contraction: R&D headcount was furloughed in October 2024 and largely terminated in Q4 2025, materially reducing R&D activity.
- Public markets and listing status: Completed SPAC merger and PIPE financing in November 2024; subsequently delisted from Nasdaq in February 2026 and now trading on OTC Pink.
- Funding reliance and outlook: Cash runway is constrained; company is pursuing equity financings, SEPA share issuances, and collaborations to resume development activities.
Original SEC Filing: Abpro Holdings, Inc. [ ABPO ] - 10-K - Apr. 15, 2026