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Company reports as filed with the U.S. Securities and Exchange Commission.
| Metric | 31 Dec 2025 | 31 Dec 2024 |
|---|---|---|
| Research and development | 62M | 23M |
| Selling, general and administrative | 10M | 3M |
| Operating expenses | 72M | 27M |
| Operating income | −72M | −27M |
| Pre-tax income | −70M | −26M |
| Income tax | 0 | 0 |
| Net income | −70M | −26M |
| Earnings per share | −111.91 | −37.05 |
| Earnings per share, diluted | −111.91 | −37.05 |
| Weighted average shares | 744,991 | 736,933 |
| Weighted average shares, diluted | 744,991 | 736,933 |
| Metric | 31 Mar 2026 | 31 Dec 2025 | 31 Mar 2025 | 31 Dec 2024 | 31 Dec 2023 |
|---|---|---|---|---|---|
| Cash and equivalents | 168M | 22M | 32M | 53M | 16M |
| Current assets | 397M | 152M | — | 56M | — |
| Property, plant and equipment | 21,000 | 22,000 | — | 0 | — |
| Total assets | 397M | 153M | — | 56M | — |
| Current liabilities | 7M | 9M | — | 5M | — |
| Total liabilities | 7M | 9M | — | 5M | — |
| Equity | 391M | −121M | −61M | −48M | −22M |
| Shares outstanding | 37M | 749,760 | — | 736,933 | — |
| Shares issued | 37M | 749,760 | — | 736,933 | — |
| Metric | 31 Dec 2025 | 31 Dec 2024 |
|---|---|---|
| Operating cash flow | −72M | −24M |
| Share-based compensation | 1M | 250,000 |
| Capital expenditure | 24,000 | 0 |
| Investing cash flow | −119M | 0 |
| Financing cash flow | 159M | 60M |
Amounts in USD unless stated otherwise. Data: US exchange trading and company filings with the regulator