Rakovina Therapeutics Announces Three-Month Q2 ended June 30, 2025 Financial Results and Provides Corporate Update
VANCOUVER, British Columbia, Aug. 28, 2025 (GLOBE NEWSWIRE) -- Rakovina Therapeutics Inc. ("Rakovina" or the "Company") (TSXV:RKV) (FSE: 7JO0), a biopharmaceutical company advancing cancer therapies through AI-powered drug discovery, today announced its financial results for the three months ended June 30, 2025 ("Q2 2025"), and provided an update on recent corporate developments.
Q2 2025 Financial Highlights
Reported a net loss of $2,916,944.
Research and development (R&D) expenses were $1,611,985, reflecting continued advancement of AI-powered drug candidates.
General and administrative (G&A) expenses were $1,213,489 including investor & public relations and exchange-related fees.
Operating expense cash burn (non-IFRS measure) was approximately $2.65 million.
Cash and cash equivalents as at June 30, 2025 were $1.88 million.
Recent Corporate Highlights
Private Placement Financing: On June 6, 2025, the Company closed a non-brokered private placement of 7,110,300 equity units (71,103,000 pre-consolidation) for gross proceeds of approximately $3.56 million and a concurrent $1.35 million unsecured convertible debenture financing. Each unit consisted of one common share and one warrant exercisable at $1.00 post-consolidation ($0.10 pre-consolidation) for 24 months from the date of issuance.
Reverse Share Consolidation: Effective June 24, 2025, the Company implemented a 1-for-10 share consolidation. Following the consolidation, there were 21,148,039 common shares issued and outstanding as at June 30, 2025.
Convertible Debentures: During Q2, the Company recorded accretion expense of $38,817 and issued shares for accrued interest in accordance with the debenture terms.
Subsequent Events
On June 30, 2025, the Company announced its intention to amend certain outstanding warrants and unsecured convertible debentures with an aggregate principal amount of $1.45 million. Amendments remain subject to TSXV approval.
On July 24, 2025, the Company announced a warrant exercise incentive program to encourage early exercise of certain outstanding warrants.
On July 29, 2025, the Company granted 540,000 stock options post-consolidation to consultants, employees, officers, and directors, exercisable at $0.70 per share with a vesting period of six months over three years.
Selected Financial Results for Q2 2025:
June 30, 2025 $
Dec 31, 2024 $
Cash and Cash Equivalents
1,882,886
1,312,743
Working Capital
622,851
321,442
