10-Q · May 14, 2026
Hepion Pharmaceuticals reported no revenue for Q1 2026, consistent with the prior year. Operating expenses decreased substantially, resulting in a net loss which improved significantly compared to the prior year's loss.…
Earnings analysis · 10-Q
HEPA earnings analysis
Filed August 13, 2026 · Our reading of the company's report
The latest report
The provided 10-Q text contains no reported revenue, margins, EPS, cash flow, balance-sheet figures, segment results, or quantitative guidance, so operating trends cannot be assessed. The principal disclosure is that…
Read full summary
The provided 10-Q text contains no reported revenue, margins, EPS, cash flow, balance-sheet figures, segment results, or quantitative guidance, so operating trends cannot be assessed. The principal disclosure is that controls were ineffective as of June 30, 2026 because of 3 material weaknesses, including staffing and segregation-of-duties deficiencies, complex-accounting controls, and tax-provision controls. Management said it needs additional capital for remediation and could not assure timely remediation, creating a material execution and reporting risk.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
What stood out
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Disclosure controls remain ineffective
As of June 30, 2026, management concluded that the company’s disclosure controls and procedures were not effective due to 3 identified material weaknesses in internal control over financial reporting.
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Additional capital needed for remediation
Management stated that it needs to raise additional capital to add personnel and implement additional internal control procedures; no quantitative capital target was disclosed.
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Three remediation priorities identified
The company listed 3 remediation areas involving personnel and segregation of duties, complex accounting transactions, and the income tax provision and related disclosures.
What to watch
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Broad internal-control deficiencies
As of June 30, 2026, the control environment lacked a sufficient complement of personnel and proper segregation of duties, creating weaknesses across COSO components and business-process and IT general controls.
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Remediation timing and funding risk
The company stated it cannot assure successful remediation of the material weaknesses in a timely manner, and remediation depends in part on raising additional capital.
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No formal risk-factor update
The filing states there were no material changes to the risk factors disclosed in the Form 10-K for the year ended December 31, 2025; therefore, no new formal risk-factor changes were identified.
Management's outlook
The provided 10-Q text contains no quantitative revenue, EPS, or operating outlook. Outlook was not provided in the filing.
Earlier filings 4
10-K · March 12, 2026
Hepion Pharmaceuticals has pivoted from drug development to a diagnostics-focused strategy: it sold rencofilstat-related assets to Panetta (May 26, 2025) for a nominal amount and in‑licensed CE-marked diagnostic tests…
10-Q · November 14, 2024
Hepion reported no revenue and a Q3 2024 net loss of $4,865,948 (EPS $(0.72)), an improvement versus Q3 2023 net loss of $10,526,946 (EPS $(2.74)) driven by sharply lower R&D and G&A spend. Cash fell to $1,497,106 at…
10-Q · August 13, 2024
Hepion’s Q2 2024 shows sharply lower operating expenses and a much smaller net loss driven by expense cuts and non‑cash fair value gains, but liquidity is strained. Cash fell to $2.12M at June 30, 2024 and management…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.