The company is in severe financial distress, having defaulted on a $1.25M note and simultaneously running an ATM offering that could dilute the float by over 450%. The stock is likely to face continued selling pressure as the ATM is drawn down and as the note repayment consumes cash. Monitor for NYSE American delisting risk or a going-concern warning in the next 10-Q.
Price Chart
Executive Summary
BiomX Inc. amended a $1.25M promissory note with Water IO Ltd., extending the maturity from July 10, 2026 to November 1, 2026, and agreeing to pay $250K immediately plus four monthly installments of $250K. In lieu of accrued interest and as consideration for the extension, BiomX will issue 800,000 restricted shares of common stock to Water IO, subject to NYSE American clearance. This filing follows a 424B5 filed yesterday updating an ATM offering to $9.145M, which at a ~$2M market cap represents massive potential dilution of over 450%, signaling severe financial distress.
Key Financial Metrics
Key Facts
- Original $1.25M promissory note from ZorroNet acquisition was due July 10, 2026 and went unpaid, triggering a default.
- Amendment extends maturity to Nov 1, 2026, requires $250K immediate payment and four $250K monthly installments.
- BiomX will issue 800,000 restricted shares to Water IO in lieu of accrued interest and as consideration for the extension, subject to NYSE American clearance.
- A 424B5 filed yesterday (July 27, 2026) updates an ATM offering to $9.145M, with ~$3.708M already sold, representing potential dilution of over 450% of the ~$2M market cap.
- An independent director of BiomX also serves as an independent director of Water IO; the interested director abstained from the board vote.
- Water IO irrevocably waived any default or acceleration rights arising from the original maturity date non-payment.
Financial Impact
The company must pay $1.25M in cash over 4 months (immediate $250K + four $250K installments) and issue 800,000 restricted shares. Combined with the $9.145M ATM offering (of which $3.708M already sold), total potential dilution exceeds 450% of the ~$2M market cap.
Risk Factors
- Potential delisting from NYSE American if the additional listing application for the share issuance is not cleared.
- Severe dilution from the ATM offering (up to $9.145M) and the 800,000 share issuance to Water IO.
- Cash burn from the $1.25M note repayment schedule may deplete remaining liquidity.
- Going-concern risk is elevated given the $2M market cap, default history, and relentless capital needs.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001213900-26-082025 |
| Document: ea029942301ex10-1.htm | 0001213900-26-082025 |
| Document: 0001213900-26-082025-index-headers.html | 0001213900-26-082025 |
| Document: 0001213900-26-082025-index.html | 0001213900-26-082025 |
| Document: 0001213900-26-082025.txt | 0001213900-26-082025 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 1, 2026 4w ago | 8-K | $0.1425 $1.85 | ▲ +1198.25% | ▲ +1199.20% | $0.3600 (+152.63%) |
Aug 28, 2026 5w ago | 8-K | $0.1371 $0.1550 | ▲ +13.06% | ▲ +13.20% | $0.3600 (+162.58%) |
Aug 5, 2026 8w ago | Press Release | $0.1800 $0.1483 | ▲ +17.61% | ▲ +17.96% | $0.3600 (−100.00%) |
Jul 28, 2026 9w ago | 8-K | $0.1834 $0.1868 | ▼ −1.85% | ▲ +0.42% | $0.3600 (−96.29%) |
Jul 28, 2026 9w ago | Press Release | $0.1834 $0.1868 | ▼ −1.85% | ▲ +0.42% | $0.3600 (−96.29%) |
Jul 27, 2026 9w ago | 424B5 | $0.1834 $0.1868 | ▼ −1.85% | ▲ +0.42% | $0.3600 (−96.29%) |
Jul 8, 2026 12w ago | Press Release | $0.2758 $0.2100 | ▼ −23.86% | ▼ −24.72% | $0.3600 (+30.53%) |
Jul 2, 2026 13w ago | 8-K | $0.3190 $0.2800 | ▲ +12.23% | ▲ +13.16% | $0.3600 (−12.85%) |
Jun 29, 2026 13w ago | S-1 | $0.3478 $0.3020 | ▲ +13.17% | ▲ +13.77% | $0.3600 (−3.51%) |
Jun 22, 2026 14w ago | DEFA14A | $0.4615 $0.3590 | ▼ −22.21% | ▼ −23.22% | $0.3600 (−21.99%) |
US Market Status
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