M&A - Hepion Pharmaceuticals, Inc.

Form Type: 10-Q

Filing Date: 2025-05-19

Corporate Action: Merger

Type: Update

Accession Number: 000164117225011534

Filing Summary: Hepion Pharmaceuticals, Inc. reported its financial results for the quarter ending March 31, 2025, showcasing significant changes compared to prior periods. The total revenue remained at $0 for the quarter. Operating expenses totaled $1,280,595, down from $5,182,317 in the same quarter of the previous year, indicating a potential restructuring in operating activities. The net loss for the quarter was $6,105,887, compared to a loss of $2,853,806 from the previous year, reflecting increased expenses, particularly in research and development. As of March 31, 2025, the company had total assets of $6,318,555 and total liabilities of $2,422,492, suggesting a healthier yet strained balance sheet. The company announced a merger agreement dated July 19, 2024, with Pharma Two B Ltd. and Pearl Merger Sub, Inc., indicating strategic moves aimed at stabilizing operations after wind-down activities related to its ASCEND-NASH clinical trial were initiated due to funding constraints. The number of outstanding shares as of May 15, 2025, was noted at 10,976,276. The document also outlines various risks and uncertainties that could impact future performance, including the need for additional capital and competitive pressures within the biotechnology sector.