PDS Biotechnology Corporation (Nasdaq: PDSB) reported financial results for the quarter ended September 30, 2026, and announced a business update. The company reported a net loss of $7.6 million, or $0.11 per basic and diluted share, for the three months ended September 30, 2026. This compares to a net loss of $9.0 million, or $0.19 per share, for the same period in 2025.
Research and development expenses decreased to $2.1 million for the third quarter of 2026 from $4.6 million in the prior year. The company attributed the decrease of $2.5 million primarily to reductions in clinical trial, personnel, and manufacturing costs. General and administrative expenses increased to $3.8 million from $3.6 million in the prior year, driven by higher professional fees and personnel costs, offset by a decrease in stock-based compensation.
As of September 30, 2026, the company held $15.2 million in cash and cash equivalents. Total operating expenses for the quarter were $5.9 million, and net interest expenses were $1.7 million.
In other corporate developments, PDS Biotech announced the initial closing of a private investment in public equity (PIPE) financing of up to $22.3 million. The financing was led by Nant Capital, LLC with participation from current investors. The closing is contingent upon the submission of a registrational Phase 3 clinical trial protocol for PDS0301 to the FDA, designed in collaboration with NantWorks.
Dr. Patrick Soon-Shiong, founder of NantWorks, and James Banaag were appointed to the Company’s Board of Directors as Nant Capital designees. Additionally, the company appointed three pharma veterans—John Dawson CBE, Deborah Ramsdell, and Bruce Wendel—to the Board, effective October 18, 2026.
The company also reported the issuance of a Japanese patent covering compositions and use of its Versamune technology platform. Furthermore, patents were issued in India and Israel covering the composition and use of PDS0101 for treating HPV16-positive cancers.
