GT Biopharma Swings to $8.3M Net Income in Q3 2025 After $3.4M Loss a Year Earlier

GT Biopharma, a clinical-stage biotech firm, reported net income of $8.3 million for the quarter ended September 30, 2025, a sharp reversal from a net loss of $3.4 million in the same quarter of 2024. The company reported no revenue for the quarter. Read more earnings reports.

Despite the quarterly profit, GT Biopharma posted a net loss of $22.6 million for the nine months ended September 30, 2025, more than doubling the $9.4 million loss in the same period last year. The company's accumulated deficit stood at $718.1 million as of September 30, 2025, compared to $695.2 million at year-end 2024.

Operating Losses Narrow

Operating losses narrowed to $3.4 million in Q3 2025 from $3.6 million in Q3 2024. For the nine-month period, operating losses totaled $6.8 million, down 36% from $10.6 million in the prior-year period.

Operating expenses held nearly flat at $1.9 million in Q3 2025 compared to $1.9 million a year earlier. For the nine months, operating expenses fell 39% to $3.2 million from $5.2 million in the prior-year period.

R&D Spending Cut in Half

Research and development expenses dropped 51% to $634,000 in Q3 2025 from $1.3 million in Q3 2024. For the nine-month period, R&D spending fell 46% to $2.1 million from $3.9 million a year earlier.

Selling, general and administrative expenses rose 20% to $2.7 million in Q3 2025 from $2.3 million in Q3 2024. For the nine months, SG&A expenses declined 30% to $4.7 million from $6.7 million in the prior-year period.

Cash Position and Capital Raise

Cash and cash equivalents totaled $2.5 million as of September 30, 2025, down from $4.0 million at year-end 2024. Including restricted cash, total cash declined to $2.6 million from $4.0 million.

Cash used in operations was $8.9 million for the nine months ended September 30, 2025, compared to $10.4 million in the prior-year period. The company raised $7.5 million through financing activities during the nine-month period, compared to $3.0 million a year earlier.

Balance Sheet Strengthens

Total stockholders' equity turned positive at $3.0 million as of September 30, 2025, compared to negative equity of $1.7 million at year-end 2024. The improvement came as the company issued 3.8 million additional shares during the period, increasing shares outstanding to 6.1 million from 2.2 million.

Current liabilities fell sharply to $1.3 million from $5.9 million at year-end 2024. Accounts payable declined 80% to $769,000 from $3.9 million over the same period.

Per-Share Results

Basic and diluted earnings per share were $1.04 in Q3 2025 compared to a loss of $1.53 per share in Q3 2024. For the nine-month period, the company reported a loss of $8.90 per share compared to a loss of $5.28 per share in the prior-year period.

Weighted average shares outstanding increased to 3.9 million in Q3 2025 from 2.2 million in Q3 2024. For the nine-month period, weighted average shares rose to 3.0 million from 1.8 million a year earlier.