Hepion Pharmaceuticals, Inc.
For the period ended Dec 31, 2025. Filed Mar 12, 2026.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Mar 12, 2026
HEPA$0.11-13.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
| Year Ended December 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Cash flows from operating activities: | ||
| Net loss | $(8,277,850) | $(13,192,420) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Stock-based compensation | 20,783 | 791,645 |
| Asset impairment loss | 402,746 | — |
| Depreciation | — | 30,758 |
| Amortization of debt discount | — | 1,268,817 |
| Inducement expense | — | 2,567,044 |
| Write-off related party note receivable | — | 600,000 |
| Change in fair value of derivative instrument-warrants | 4,089,753 | (5,579,263) |
| Change in fair value of contingent consideration | — | (2,020,000) |
| Changes in operating assets and liabilities: | ||
| Accounts payable and accrued expenses | 1,431 | (4,545,565 |
| Right of use asset | — | 212,878 |
| Operating lease liability | — | (209,020) |
| Prepaid expenses and other assets | 491,617 | 1,858,823 |
| Net cash used in operating activities | (3,271,520) | (18,216,303) |
| Cash flows from investing activities: | ||
| Investment in license agreement | (132,117) | — |
| Investment in related party receivable | — | (600,000) |
| Net cash used in investing activities | (132,117) | (600,000) |
| Cash flows from financing activities: | ||
| Proceeds from the issuance of common stock and warrants, net | 9,000,000 | 1,849,707 |
| Equity issuance costs | (802,597) | — |
| Proceeds from equity and debt issuance under SPA, net of discount | — | 2,500,000 |
| Payments on notes payable | (3,372,112) | |
| Net cash (used in) provided by financing activities | 4,825,291 | 4,349,707 |
| Effect of exchange rates on cash | — | 87,124 |
| Net increase (decrease) in cash | 1,421,654 | (14,379,472) |
| Cash at beginning of period | 406,408 | 14,785,880 |
| Cash at end of period | $1,828,062 | $406,408 |
| Supplementary disclosure of cash flow information: | ||
| Cash paid for interest | $17,765 | $— |
| Supplementary disclosure of non-cash financing activities: | ||
| Issuance of Note Payable for payment of prepaid expense | $526,178 | $— |
| Inducement expense for issuance of Series B-1 and B-2 warrants | $— | 2,821,399 |
| Cashless Exercise of 2025 Series B Warrants | $10,430,732 | — |
| Issuance of common stock in connection with license agreement | $270,629 | — |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.