PDS Biotech Reports Q2 Loss, Cash Drops to $5.6M, and PDS0301 Shows Strong Colorectal Cancer Data
PDSB is trading near its 52-week low of $0.23 (5.0% above the low) on elevated volume (6.0× avg).
Summary
PDS Biotech reported a $9.8M Q2 net loss with cash down to $5.6M, while unveiling strong PDS0301 colorectal cancer data that supports its strategic pivot away from PDS0101.
Updates
· SEC 10-Q — The 10-Q adds a going concern doubt and Nasdaq delisting risk, with cash at $5.6M and negative equity of $3.6M.
· Reuters — Q2 loss missed the $0.13 consensus estimate; stock trades near 52-week low at $0.24.
Key Events · Earnings and Guidance · PDSB
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Q2 Net Loss of $9.8M
Net loss was $9.8M ($0.18/share) for Q2 2026, compared to $9.4M ($0.21/share) in Q2 2025. Operating expenses declined to $6.5M from $7.6M, but interest expense rose to $3.4M from $2.1M due to a non-cash loss on debt retirement.
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Cash Position Deteriorates
Cash and cash equivalents fell to $5.6M as of June 30, 2026, from $26.7M at December 31, 2025. Working capital is negative at -$5.3M, and total stockholders' equity is -$3.6M.
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PDS0301 Colorectal Cancer Data
Published Phase 2 data for PDS0301 in metastatic colorectal cancer showed an objective response rate of 77.8% (7/9) at six months versus 35% (7/20) in the parallel trial without PDS0301. The 24-month survival rate was approximately 80% versus 35%.
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Strategic Refocus on PDS0301
The company is discontinuing the PDS0101 Phase 3 VERSATILE-003 trial and will seek partnerships or external funding for PDS0101, concentrating resources on PDS0301 as its lead program.
Analysis · PDSB · Life Sciences
PDS Biotech's Q2 results reveal a precarious financial position: cash fell from $26.7M at year-end to $5.6M, working capital is negative, and stockholders' equity is negative. The company is now heavily reliant on its $50M ATM and future financings. However, the newly published PDS0301 data in metastatic colorectal cancer is compelling—77.8% ORR and ~80% 24-month survival versus 35% in the parallel trial—providing a potential lifeline if partnerships or funding materialize. The strategic refocus on PDS0301, announced two days prior, is now backed by these numbers.
How filings like this one have moved
In the 30 days to Oct 5, 2026, 36.9% of the 964 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.65%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, PDSB was trading at $0.24 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $13.5M. The 52-week trading range was $0.23 to $1.55. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.