Monitor upcoming FDA ODD decision for GDT cell therapy in glioblastoma and progress on CD-19 Armed-T milestone payments. The $8.3M cash runway supports near-term operations but will require additional capital for clinical advancement.
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Executive Summary
SL Science reported H1 2026 revenue of $1.39M (+23% YoY) and a net loss of $2.16M, widening from $1.60M. The company highlighted a B2B distribution pivot, gross margin expansion to 40.2%, and R&D investment growth of 72%. No consensus estimates were provided, so no earnings rating is assigned. The filing follows a recent 13D/A amendment showing no change in control.
Key Financial Metrics
Key Facts
- H1 2026 net revenue $1.39M, up 23% YoY from $1.13M
- Gross profit $0.56M, up 43% YoY; gross margin improved to 40.2% from 34.5%
- Net loss widened to $2.16M from $1.60M YoY
- R&D expenses increased 72% to $1.23M, driven by CD-19 Armed-T and GDT cell therapy programs
- Cash and cash equivalents $8.31M as of June 30, 2026, up from $1.26M at Dec 31, 2025, boosted by $7.8M PIPE and $1.6M director loan
- Company secured 20-year global exclusive rights for GDT cell applications in pancreatic and brain cancers
- Filed Orphan Drug Designation request with FDA for GDT cell therapy targeting glioblastoma
- Closed business combination and listed on Nasdaq on June 15, 2026
Financial Impact
Revenue growth of $0.26M (23% YoY); net loss increased by $0.56M (35% YoY); cash position improved by $7.05M from year-end 2025
Risk Factors
- Preclinical data does not guarantee clinical success; GDT and CD-19 Armed-T therapies are at early stages
- Net loss is widening as R&D and G&A expenses grow faster than revenue
- Company relies on a small number of B2B distributors in Taiwan for revenue concentration
- Future milestone payments of up to ~$4.1M for CD-19 Armed-T license could strain cash if not offset by financing
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3388566 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 1d ago | 6-K | $1.24 | awaiting T+20 | — | $1.23 (−0.81%) |
Oct 26, 2026 1d ago | Press Release | $1.24 | awaiting T+20 | — | $1.23 (−0.81%) |
Oct 1, 2026 26d ago | SC 13D/A | $1.57 | awaiting T+20 | — | $1.23 (−21.66%) |
Aug 13, 2026 10w ago | EFFECT | $2.71 $2.06 | ▼ −23.99% | ▼ −22.24% | $1.23 (−54.61%) |
Jul 31, 2026 12w ago | F-1 | $3.29 $2.73 | ▼ −17.02% | ▼ −18.26% | $1.23 (−62.61%) |
Jul 10, 2026 15w ago | 6-K | $4.73 $2.67 | ▼ −43.55% | ▼ −45.98% | $1.23 (−74.00%) |
Jun 18, 2026 18w ago | 20-F | $4.52 $4.30 | ▼ −4.87% | ▼ −4.72% | $1.23 (−72.79%) |
Jun 17, 2026 18w ago | 3 | $6.38 $4.33 | ▼ −32.13% | ▼ −33.45% | $1.23 (−80.72%) |
Jun 15, 2026 19w ago | 3 | $3.33 $4.33 | ▲ +30.03% | ▲ +30.78% | $1.23 (−63.06%) |
Jun 15, 2026 19w ago | 6-K | $3.33 $4.33 | ▲ +30.03% | ▲ +30.78% | $1.23 (−63.06%) |
US Market Status
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