CytoDyn Swings to $32.8M Loss in Nine Months Ending February 2026

CytoDyn Inc., a Delaware-incorporated clinical-stage biotechnology company, reported a net loss of $32.8 million for the nine months ending February 28, 2026, reversing a $9.7 million profit in the prior-year period. The company's operating loss widened to $32.9 million from an operating income of $14.7 million a year earlier. Read more earnings reports.

For the three months ending February 28, 2026, the company posted a net loss of $4.7 million, roughly flat compared to a $4.8 million loss in the same quarter last year. Operating losses for the quarter deepened to $6.3 million from $4.0 million.

The company reported no revenue for either period. Cash and cash equivalents rose to $15.7 million as of February 28, 2026, up from $11.9 million at the end of May 2025, aided by $16.1 million in financing activities during the nine-month period.

Cash used in operations totaled $12.3 million for the nine months, a substantial increase from $3.1 million in the prior-year period. Total liabilities climbed to $122.8 million from $114.1 million, while stockholders' deficit expanded to $104.3 million from $96.0 million.

The company issued 108.8 million additional common shares during the nine months, bringing total shares outstanding to 1.36 billion as of February 28, 2026. Basic and diluted loss per share for the nine-month period was $0.03, compared to earnings per share of $0.01 in the prior year.

Total assets edged up to $18.5 million from $18.0 million, with current assets accounting for nearly the entire balance. Long-term debt declined to $40.5 million from $45.4 million, while accounts payable fell to $13.5 million from $14.7 million.

Financial Summary