Revelation Biosciences (REVB) Q2 2026 earnings summary

Executive summary

• Clinical-stage life science company focused on developing therapies for acute and chronic kidney diseases using its proprietary Gemini platform.

• Formed and expanded an Acute Kidney Injury Advisory Board to support the upcoming pivotal Phase 2/3 clinical trial for Gemini.

• Continued progress on Phase 2/3 clinical study start-up activities, aiming to begin enrollment by year-end.

• Released an independent market assessment indicating a $94 billion total addressable market for Gemini.

• No revenue generated to date; operations funded by $75.9 million in equity and warrant financings since inception.

Financial highlights

• Cash and cash equivalents were $11.5 million as of June 30, 2026, up from $10.7 million at December 31, 2025, primarily due to warrant inducement proceeds.

• Net loss for the six months ended June 30, 2026, was $6.3 million ($3.41 per share), compared to $4.5 million ($54.39 per share) for the same period in 2025.

• Net loss for Q2 2026 was $3.3 million ($0.87 per share), compared to $2.4 million ($28.04 per share) in Q2 2025.

• Total operating expenses for the six months ended June 30, 2026, were $6.8 million, up from $4.6 million year-over-year.

• Net cash used in operating activities was $5.8 million for the six months ended June 30, 2026.

Outlook and guidance

• Expects to continue incurring significant operating and net losses, as well as negative cash flows from operations, for the foreseeable future.

• Current cash and cash equivalents are expected to fund operations through Q1 2027.

• Current cash balance is not sufficient to sustain operations for one year; additional capital will be required.

• Plans to seek further funding through public or private equity or debt financings.

• Focus remains on initiating enrollment for the pivotal Gemini clinical trial by year-end.