10-K · March 31, 2026
ZyVersa is a clinical‑stage biopharma focused on renal candidate VAR 200 and inflammasome inhibitor IC 100 but has no commercial products or revenue. In 2025 the company recorded a net loss of $24.95 million (including…
Earnings analysis · 10-Q
ZVSA earnings analysis
Filed May 13, 2026 · Our reading of the company's report
The latest report
ZyVersa Therapeutics, Inc. reported a net loss of $1.8 million for Q1 2026, a 53.9% reduction from the $2.3 million loss in Q1 2025. Operating expenses fell significantly, with research and development costs dropping…
Read full summary
ZyVersa Therapeutics, Inc. reported a net loss of $1.8 million for Q1 2026, a 53.9% reduction from the $2.3 million loss in Q1 2025. Operating expenses fell significantly, with research and development costs dropping 77.6% to $58 thousand and general and administrative expenses decreasing 33.9% to $1.2 million. The company's cash position improved to $0.3 million, but remains critically low to fund ongoing operations.
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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Net Loss Improvement
Net losses narrowed to $1.8 million in Q1 2026 from $2.3 million in Q1 2025, reflecting a 53.9% reduction.
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Dramatic Drop in R&D Costs
Research and development expenses decreased to $58 thousand, a 77.6% reduction from $259 thousand in the prior year.
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Lower Operating Expenses
Total operating expenses fell to $1.3 million, down 39.2% from $2.1 million a year prior.
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Cash Position Stabilized
ZyVersa's cash position improved to $0.3 million by March 31, 2026, from $0.1 million at the end of 2025.
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Decreased Cash Used in Operations
Net cash used in operating activities dropped to $799 thousand from $1.772 million in the same quarter last year.
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Financing Cash Inflows
Net cash from financing activities provided $1 million in Q1 2026, a decrease from $1.9 million in Q1 2025.
What to watch
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Significant Working Capital Deficiency
As of March 31, 2026, ZyVersa reported a working capital deficiency of $(14.125) million versus $(12.387) million a year prior.
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Critical Need for Additional Financing
The company requires ongoing financing to support operations, stating additional capital will be needed imminently.
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Going Concern Risk
Management expresses substantial doubt about the ability to continue as a going concern for the next 12 months, pending further capital.
Management's outlook
No numerical guidance provided; management continues to anticipate significant operating losses.
Earlier filings 4
10-Q · May 12, 2025
ZyVersa reported a net loss of $2,256,930 for Q1 2025 (EPS $(0.73)) and had cash of $1,611,532 as of March 31, 2025. Operating expenses declined year-over-year (R&D $258,876; G&A $1,885,695) and cash used in operations…
10-Q · August 9, 2024
ZyVersa reported a materially smaller GAAP loss in Q2 2024 as impairments recorded in the prior-year quarter did not recur; net loss for Q2 2024 was $(2,763,743) versus $(78,513,093) in Q2 2023. Liquidity is the primary…
10-K · March 25, 2024
ZyVersa is a clinical-stage biopharmaceutical company (post-December 12, 2022 business combination) developing lead candidates VAR 200 and IC 100 and has not generated any product revenue. For the year ended December…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.