The company remains in a pre-revenue stage, reporting an operating loss of $10.2 million in 2026Q1 as R&D expenditures surged to $7.2 million to support late-stage clinical testing.
| Sales/Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Revenue Growth % | - | - | - | - | - | - | - |
| Cost of Goods Sold | 362.39K | 363.08K | 2.78K | 4.22K | 805 | 1.16M | 4.25K |
| COGS % of Revenue | - | - | - | - | - | - | - |
| Gross Profit | -362.39K | -363.08K | -2.78K | -4.22K | -805 | -1.16M | -4.25K |
| Gross Margin % | - | - | - | - | - | - | - |
| Gross Profit Growth % | - | -12960.61% | 34.12% | -424.22% | 99.93% | -27185.69% | - |
| Operating Expenses | 33.51M | 28.34M | 6.81M | 4.34M | 4.45M | 3.68M | 1.4K |
| OpEx % of Revenue | - | - | - | - | - | - | - |
| Selling, General & Admin | 12.34B | 12.34B | 3.97M | 1.12M | 1.15M | 1.5M | 795 |
| SG&A % of Revenue | - | - | - | - | - | - | - |
| Research & Development | 16.37B | 16.36B | 2.84M | 3.22M | 3.29M | 2.17M | 602 |
| R&D % of Revenue | - | - | - | - | - | - | - |
| Other Operating Expenses | -1.11M | -28.68B | 0 | 5.15K | 1.21K | 0 | 0 |
| Operating Income | -33.87M | -28.71M | -6.81M | -4.34M | -4.45M | -4.84M | -5.65K |
| Operating Margin % | - | - | - | - | - | - | - |
| Operating Income Growth % | - | -321.28% | -56.91% | 2.33% | 8.08% | -85562.39% | - |
| EBITDA | -33.39M | -28.34M | -6.81M | -4.34M | -4.45M | -4.84M | -5.65K |
| EBITDA Margin % | - | - | - | - | - | - | - |
| EBITDA Growth % | -198.62% | -316.13% | -56.99% | 2.41% | 8.09% | -85548.13% | - |
| D&A (Non-Cash Add-back) | 487.33K | 363.08K | 2.78K | 4.22K | 805 | 805 | 0 |
| EBIT | -35.04M | -28.75M | -6.83M | -4.34M | -4.45M | -4.84M | -5.65K |
| Net Interest Income | -75.12K | 249 | -2.05M | -3.45M | -1.81M | -2.58M | -380.5M |
| Interest Income | 228 | 249 | 0 | 0 | 0 | 0 | 81.28M |
| Interest Expense | 75.34K | 0 | 2.05M | 3.45M | 1.81M | 2.58M | 461.79M |
| Other Income/Expense | -1.4M | -48.14K | -2.07M | -3.45M | -1.81M | -2.58M | -381 |
| Pretax Income | -35.27M | -28.75M | -8.88M | -7.79M | -6.25M | -7.42M | -6.03K |
| Pretax Margin % | - | - | - | - | - | - | - |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Income | -35.27M | -28.75M | -8.88M | -7.79M | -6.25M | -7.42M | -6.03K |
| Net Margin % | - | - | - | - | - | - | - |
| Net Income Growth % | -212.14% | -223.7% | -14.01% | -24.57% | 15.71% | -123016.77% | - |
| Net Income (Continuing) | -35.27M | -28.75M | -8.88M | -7.79M | -6.25M | -7.42M | -6.03K |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.91 | -0.98 | -0.52 | -0.39 | -0.28 | -0.33 | -0.00 |
| EPS Growth % | -124.93% | -88.46% | -33.33% | -39.29% | 15.15% | - | - |
| EPS (Basic) | - | -0.98 | -0.52 | -0.39 | -0.28 | -0.33 | -0.00 |
| Diluted Shares Outstanding | 38.67M | 29.25M | 20.87M | 20.05M | 23.1M | 23.1M | 8.42M |
| Basic Shares Outstanding | 38.67M | 29.25M | 20.87M | 20.05M | 23.1M | 23.1M | 8.42M |
| Dividend Payout Ratio | - | - | - | - | - | - | - |
Clinical trial execution failure
As indicated by the most recent quarterly financial data, OSTX has experienced a significant surge in research and development spending, with R&D costs reaching $7.2 million in 2026Q1, reflecting the intensified clinical development efforts required to advance the OST-HER2 immunotherapy program through late-stage testing.
The company's cost structure is currently defined by high-intensity clinical trial management, which is inherently volatile and capital-intensive. Investors should monitor whether these elevated R&D levels represent a permanent shift in the firm's burn rate or if they are temporary spikes associated with specific patient recruitment milestones.
Based on the reported income statements, OSTX continues to operate without any revenue, resulting in an operating loss of $10.2 million in 2026Q1, which underscores the firm's total reliance on external capital to fund its ongoing clinical and administrative overhead requirements.
The lack of revenue generation means that operating leverage cannot be assessed in a traditional sense, as every dollar spent on SG&A and R&D directly expands the net loss. The absence of a commercial footprint suggests that the company remains in a pure capital-consumption phase where operational efficiency is secondary to clinical progress.
According to historical financial filings, the company's net income figures are heavily influenced by non-cash items, including significant stock-based compensation spikes such as the $4.3 billion recorded in 2025Q4, which complicates the assessment of true operational cash burn and long-term shareholder dilution risks.
The volatility in stock-based compensation suggests that management's incentive structures may be tied to specific equity-based milestones rather than operational profitability. Analysts should adjust for these non-cash charges to better understand the underlying cash requirements needed to sustain the business until a potential licensing event occurs.
While the company reports a substantial cash position of $269.8 million, the rapid escalation of quarterly losses, which reached $10.4 million in 2026Q1, warrants investigation into whether the current capital buffer is sufficient to reach critical data readouts without requiring further dilutive financing rounds.
The primary risk to the current narrative is that the cost of clinical site management in rare pediatric oncology may exceed initial projections, potentially shortening the expected runway. If the company fails to demonstrate clear efficacy in its lead asset, the high cash burn rate could quickly transform the current liquidity advantage into a significant valuation headwind.
Quick answers to the most common questions about buying OSTX stock.
For fiscal year 2025, OS Therapies Incorporated (OSTX) reported total revenue of $0.0M.
OS Therapies Incorporated (OSTX) reported a net loss of $28.8M for the fiscal year ending 2025.