ZyVersa Therapeutics Reports First Quarter 2026 Financial Results and Provides Business Update
Rhea-AI Summary
ZyVersa Therapeutics (OTCQB: ZVSA) reported Q1 2026 results and a business update for its inflammatory and renal disease pipeline targeting a >$100 billion accessible market.
Net loss narrowed to about $1.8 million, R&D and G&A expenses declined, and the company highlighted upcoming IC 100 and VAR 200 milestones but noted it will require additional financing beyond limited cash of $0.3 million.
AI-generated analysis. Not financial advice.
Positive
- Net loss reduced to approximately $1.8 million, a 20.5% improvement year over year
- Research and development expenses down 77.6% to $58 thousand in Q1 2026
- General and administrative expenses decreased 33.9% to $1.2 million
- Pipeline targets inflammatory and renal diseases with accessible market >$100 billion
- Planned IC 100 IND filing in Q4 2026 with Phase 1 read-out in H1 2027
- Planned VAR 200 Phase 2a start H2 2026 with interim data around Q4 2026
Negative
- Cash balance of $0.3 million only funds operations on a month-to-month basis
- Company states it will need additional financing to support ongoing operations and milestones
- Research and development spending fell sharply partly due to paused VAR 200 study
- Q1 2026 net loss of approximately $1.8 million despite reduced operating expenses
News Market Reaction – ZVSA
On the day this news was published, ZVSA gained 11.00%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
Within Biotechnology peers, several names showed gains (e.g., WINT up 19.58%, SLRX up 18.98%, CDT up 8.16%). ZVSA’s pre-news price change of 0.05% was comparatively muted, suggesting today’s earnings update is more stock-specific than part of a broad sector move.
Previous Earnings Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Mar 31 | Full-year 2025 earnings | Neutral | +0.0% | Full-year 2025 results with major impairment, cost cuts, and capital raises. |
| Nov 19 | Q3 2025 earnings | Negative | +3.7% | Q3 2025 loss driven by $18.6M R&D impairment and going-concern pressure. |
| Aug 13 | Q2 2025 earnings | Positive | +6.9% | Q2 2025 loss improvement, cost reductions, capital raised, and trial progress. |
| May 12 | Q1 2025 earnings | Negative | -4.0% | Q1 2025 loss with low cash and financing needs despite pipeline updates. |
| Mar 27 | Full-year 2024 earnings | Positive | -5.4% | 2024 results showing sharply improved loss and lower expenses but thin cash. |
Earnings releases have produced mixed but generally modest reactions, with 3 events broadly aligned with news tone and 2 showing divergence; the average move around earnings has been a subdued 0.23% over the past five events.
Over the last five earnings and financial updates (2024–2026), ZyVersa repeatedly highlighted progress on VAR 200 and IC 100 while reporting persistent net losses and very limited cash. Prior releases showed significant cost reductions (R&D and G&A) and a large $18.6M impairment, alongside frequent capital raises to fund operations. Timelines for VAR 200 Phase 2a and the IC 100 IND have been updated across these reports. Today’s Q1 2026 results continue the themes of narrower losses, reduced spending, and the need for additional financing to reach stated milestones.
Historical Comparison
Over the past five earnings-related releases, ZVSA’s average 24-hour move was only 0.23%, indicating historically muted trading responses around financial updates.
Earnings updates consistently pair cost-cutting and financing needs with pipeline milestones, tracking VAR 200’s planned Phase 2a studies and IC 100’s path toward an IND and Phase 1 trials across 2024–2026.
Market Pulse Summary
The stock surged +11.0% in the session following this news. A strong positive reaction aligns with recurring themes in ZyVersa’s updates: narrowed quarterly losses to $1.8M, sharply reduced R&D and G&A, and clearly defined near-term milestones for IC 100 and VAR 200. However, disclosures of cash of only $0.3M and ongoing going-concern risks, plus recent convertible note and warrant financing, point to continued dilution and funding uncertainty that could challenge the durability of any outsized move.
Key Terms
inflammasome medical
phase 1 medical
phase 2a medical
focal segmental glomerulosclerosis medical
convertible notes financial
warrants financial
orphan disease regulatory
AI-generated analysis. Not financial advice.
- ZyVersa is advancing a highly differentiated pipeline focusing on inflammatory and renal diseases with a total accessible market >
$100 billion . - Inflammasome ASC Inhibitor IC 100 is the next evolution of inflammasome inhibitors designed for unparalleled control of disease-causing inflammation by (1) inhibiting multiple inflammasomes activated in numerous diseases, not just NLRP3, and (2) attenuating spread and perpetuation of inflammation by uniquely inhibiting ASC specks.
- Lead indication: Cardiometabolic conditions associated with obesity
- Value driving milestones: file IND Q4-2026; Phase 1 SAD read-out H1-2027
- Cholesterol Efflux Mediator VAR 200 is expected to be a disease-modifying renal drug by targeting unaddressed renal lipotoxicity to attenuate renal damage and slow disease progression.
- Lead indication: orphan disease FSGS (focal segmental glomerulosclerosis)
- Value driving milestones: initiate P2a trial in patients with FSGS and Alport syndrome H2-2026; Interim Phase 2a read-out ~Q4-2026
- Raised
$1 Million in Q1-2026.
LIGHTHOUSE POINT, Fla., May 13, 2026 (GLOBE NEWSWIRE) -- ZyVersa Therapeutics, Inc. (OTCQB: ZVSA), a clinical-stage specialty biopharmaceutical company developing first-in-class drugs for the treatment of inflammatory and renal diseases with high unmet medical needs, reports financial results for first quarter ending March 31, 2026, and provides business update.
"We are pleased to announce that ZyVersa is poised to achieve significant value-driving milestones over the next 12 -15 months," stated Stephen C. Glover, ZyVersa's Co-founder, Chairman, CEO, and President.
"The market value of our highly differentiated lead candidate, Inflammasome ASC Inhibitor IC 100, has been validated, we believe, by over
"A biomarker-efficacy driven phase 1 trial with IC 100 in healthy overweight subjects at risk for cardiometabolic conditions is slated to begin after clearance of our IND, expected to be filed in Q4-2026 — a read-out of Phase 1a data is planned for H1-2027. The Phase 1 trial will be supported by a preclinical study to be initiated in Q2-2026 in a diet-induced obesity mouse model that develops cardiometabolic conditions. A preliminary read-out will be available around H2-2026."
"A significant turning point has been reached for renal drug development with FDA's approval of Travere's sparsentan for FSGS. With regulatory clarity on proteinuria reduction as the primary endpoint for clinical trials, accelerated drug development and broader investment is expected in the space. Significant unmet needs remain to target unaddressed pathways leading to kidney damage and disease progression — lipotoxicity and inflammation. ZyVersa plans to address lipotoxicity with Cholesterol Efflux Mediator VAR 200, and inflammation with IC 100."
"We plan to initiate a Phase 2a clinical trial with VAR 200 in patients with FSGS and Alport Syndrome in H2-2026, with an interim Phase 2a read-out expected around Q4-2026. Additionally, we will initiate a preclinical study with IC 100 in an orphan renal disease model in H2-2026. A preliminary read-out is anticipated around Q4-2026."
"We look forward to sharing our upcoming data read-outs and the anticipated value they will bring to our shareholders."
FIRST QUARTER 2026 FINANCIAL RESULTS
Net losses were approximately
Research and development expenses were
General and administrative expenses were
Based on our current operating plan, ZyVersa expects its cash of
ABOUT ZYVERSA THERAPEUTICS, INC.
ZyVersa (OTCQB: ZVSA) is a clinical stage specialty biopharmaceutical company leveraging advanced, proprietary technologies to develop first-in-class drugs for patients with inflammatory and renal diseases who have significant unmet medical needs. The Company is currently advancing a therapeutic development pipeline with multiple programs built around its two proprietary technologies — Inflammasome ASC Inhibitor IC 100, targeting inflammasome-driven inflammatory diseases, and Cholesterol Efflux Mediator VAR 200 for treatment of kidney diseases. For more information, please visit www.zyversa.com.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Certain statements contained in this press release regarding matters that are not historical facts, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, as amended. These statements are based on management’s current expectations, assumptions, beliefs, or projections and include, for example, our belief that we have sufficient liquidity to fund our business operations on a month-to-month basis; anticipated levels of capital expenditures; the timing, scope, and anticipated results of our planned preclinical and clinical trials for IC 100 and VAR 200; our expectations regarding IND filings, regulatory submissions, and FDA interactions; the therapeutic potential, safety, and efficacy of our product candidates; our commercialization, marketing, and manufacturing strategies; our ability to obtain additional financing; and our research and development plans. These statements are based on management’s current expectations, assumptions, estimates, and projections, which may prove to be incorrect. Forward-looking statements are neither historical facts nor assurances of future performance, and, therefore, you are cautioned not to place undue reliance on them. No forward-looking statement can be guaranteed, and actual results may differ materially from those projected. ZyVersa Therapeutics, Inc. (“ZyVersa” or the "Company") uses words such as “anticipates,” “believes,” “plans,” “expects,” “projects,” “future,” “intends,” “may,” “will,” “should,” “could,” “estimates,” “predicts,” “potential,” “continue,” “guidance,” “poised,” “slated,” and similar expressions, or the negative of such terms, to identify these forward-looking statements that are intended to be covered by the safe-harbor provisions. Such forward-looking statements are subject to known and unknown risks, uncertainties, and other factors, and actual results may differ materially from those expressed or implied due to a number of factors, including: ZyVersa’s ability to obtain the funding necessary to advance the development of its product candidates and maintain its business operations, including its ability to continue as a going concern; the inherent risks associated with pharmaceutical product development, including the risk that preclinical and clinical trials may not be successful or may be delayed; the timing of initiation of ZyVersa’s planned preclinical and clinical trials; the timing of the availability of data from ZyVersa’s preclinical and clinical trials; the timing of any planned investigational new drug application or other regulatory submissions; uncertainties relating to regulatory review and approval processes; ZyVersa’s ability to enroll patients in its clinical trials; ZyVersa’s plans to research, develop, and commercialize its current and future product candidates; the clinical utility, potential benefits, safety, efficacy, and market acceptance of ZyVersa’s product candidates; ZyVersa’s commercialization, marketing, and manufacturing capabilities and strategy; ZyVersa’s ability to establish and maintain collaborations or strategic relationships; ZyVersa’s ability to protect its intellectual property position; ZyVersa’s estimates regarding future revenue, expenses, capital requirements, and need for additional financing; and other risks described in the "Risk Factors" section of the Company's most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and other filings with the Securities and Exchange Commission, which are available at www.sec.gov.
New factors emerge from time to time, and it is not possible for ZyVersa to predict all such factors, nor can ZyVersa assess the impact of each such factor on the business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Forward-looking statements included in this press release are based on information available to ZyVersa as of the date of this press release. ZyVersa disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable law.
CORPORATE, MEDIA, IR CONTACT
Karen Cashmere
Chief Commercial Officer
kcashmere@zyversa.com
786-251-9641
| ZYVERSA THERAPEUTICS, INC. | ||||||||||
| CONDENSED CONSOLIDATED BALANCE SHEETS | ||||||||||
| March 31, | December 31, | |||||||||
| 2026 | 2025 | |||||||||
| (Unaudited) | ||||||||||
| Assets | ||||||||||
| Current Assets: | ||||||||||
| Cash | $ | 302,660 | $ | 101,778 | ||||||
| Prepaid expenses and other current assets | 439,563 | 347,189 | ||||||||
| Vendor deposits | - | 14,484 | ||||||||
| Total Current Assets | 742,223 | 463,451 | ||||||||
| Total Assets | $ | 742,223 | $ | 463,451 | ||||||
| Liabilities and Stockholders' Deficit | ||||||||||
| Current Liabilities: | ||||||||||
| Accounts payable | $ | 10,235,276 | $ | 10,123,391 | ||||||
| Accrued expenses and other current liabilities | 3,303,242 | 2,726,846 | ||||||||
| Convertible notes payable at fair value | 1,200,000 | - | ||||||||
| Warrant liabilities | 128,000 | - | ||||||||
| Total Current Liabilities | 14,866,518 | 12,850,237 | ||||||||
| Total Liabilities | 14,866,518 | 12,850,237 | ||||||||
| Stockholders' Deficit: | ||||||||||
| Preferred stock, | ||||||||||
| Series A preferred stock, 8,635 shares designated, 50 shares issued | ||||||||||
| and outstanding as of March 31, 2026 and December 31, 2025 | - | - | ||||||||
| Series B preferred stock, 5,062 shares designated, 5,062 shares issued | ||||||||||
| and outstanding as of March 31, 2026 and December 31, 2025 | 1 | 1 | ||||||||
| Common stock, | ||||||||||
| 8,095,928 shares issued as of March 31, 2026 and December 31, 2025 | ||||||||||
| 8,095,921 shares outstanding as of March 31, 2026 and | ||||||||||
| December 31, 2025 | 809 | 809 | ||||||||
| Additional paid-in-capital | 125,260,381 | 125,204,509 | ||||||||
| Accumulated deficit | (139,378,318 | ) | (137,584,937 | ) | ||||||
| Treasury stock, at cost, 7 shares at March 31, 2026 and December 31, 2025 | (7,168 | ) | (7,168 | ) | ||||||
| Total Stockholders' Deficit | (14,124,295 | ) | (12,386,786 | ) | ||||||
| Total Liabilities and Stockholders' Deficit | $ | 742,223 | $ | 463,451 | ||||||
| ZYVERSA THERAPEUTICS, INC. | |||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | |||||||||
| (Unaudited) | |||||||||
| For the Three Months Ended March 31, | |||||||||
| 2026 | 2025 | ||||||||
| Operating Expenses: | |||||||||
| Research and development | $ | 57,621 | $ | 258,876 | |||||
| General and administrative | 1,247,077 | 1,885,695 | |||||||
| Total Operating Expenses | 1,304,698 | 2,144,571 | |||||||
| Loss From Operations | (1,304,698 | ) | (2,144,571 | ) | |||||
| Other (Income) Expense: | |||||||||
| Interest expense | 132,512 | 119,559 | |||||||
| Fair value option loss on convertible notes | 344,000 | - | |||||||
| Change in fair value of warrant liabilities | (16,000 | ) | - | ||||||
| Change in fair value of equity payable | 28,171 | (7,200 | ) | ||||||
| Net Loss | $ | (1,793,381 | ) | $ | (2,256,930 | ) | |||
| Net Loss Per Share | |||||||||
| - Basic and Diluted | $ | (0.22 | ) | $ | (0.73 | ) | |||
| Weighted Average Number of | |||||||||
| Common Shares Outstanding | |||||||||
| - Basic and Diluted | 8,095,921 | 3,106,928 | |||||||
