BriaCell Therapeutics Posts $15.4M Loss in H1 FY2026 as R&D Spending Jumps

BriaCell Therapeutics Corp., a clinical-stage biotechnology company, reported a net loss of $15.42 million for the six months ending January 31, 2026, compared to a net loss of $12.09 million in the same period a year earlier. The company reported no revenue for either period. Read more earnings reports.

Operating expenses rose to $15.85 million in the first half of fiscal 2026, up from $12.32 million in the prior-year period. Research and development spending drove the increase, climbing to $12.74 million from $9.35 million year-over-year.

Cash Position Strengthened Through Financing

Cash and cash equivalents stood at $29.90 million as of January 31, 2026, nearly tripling from $10.49 million at the end of the prior fiscal year on July 31, 2025. The company raised $27.87 million through financing activities during the six-month period, compared to $17.18 million in the prior-year period.

Cash consumed by operations totaled $15.67 million in the first half of fiscal 2026, compared to $12.88 million in the same period of fiscal 2025. Total assets increased to $33.59 million as of January 31, 2026, from $21.65 million at the end of fiscal 2025.

Share Count Expands Significantly

Common shares outstanding increased to 7.25 million as of January 31, 2026, from 1.88 million at the end of the prior fiscal year. The company reported a basic loss per share of $6.58 for the six-month period, compared to $54.35 in the prior year, reflecting the dilutive impact of the increased share count.

Current liabilities declined to $3.19 million as of January 31, 2026, down from $3.98 million at the end of fiscal 2025. The company's accumulated deficit widened to $127.17 million from $111.76 million over the same period.

Quarterly Results

For the three months ending January 31, 2026, the company posted a net loss of $7.22 million, compared to a loss of $6.29 million in the prior-year quarter. Operating expenses for the quarter totaled $7.53 million, up from $7.17 million a year earlier.