Mosaic ImmunoEngineering Inc.
For the period ended Jun 30, 2026. Filed Aug 14, 2026.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2026 · Filed Aug 14, 2026
CPMVStored price and day change unavailable
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2026-03-31; filed 2026-05-20.
0001683168-26-004152
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2026-06-30; filed 2026-08-14.
0001683168-26-006426
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 38 previous paragraphs and 46 current paragraphs.
26 unchanged; 11 reworded; 7 added; 1 removed; 0 previous and 2 current paragraphs rearranged.
Tables are not compared: 2 previous and 2 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (7)
Current report
Interest Expense
Current report
Six Months Ended June 30, 2026 and 2025:
Current report
Research and Development Expenses
Current report
Research and development expenses of approximately $31,000 for the six months ended June 30, 2026 are primarily related to salaries and related costs for personnel in research and development functions. The decrease in research and development expenses of approximately $1,000 for the six months ended June 30, 2026 as compared to the same prior year period was primarily due to a decrease in rent paid for storage.
Current report
General and Administrative Expenses
Current report
Other Income (Expense)
Current report
Interest Expense
Removed paragraphs (1)
Previous report
Interest Expense and Accretion to Redemption Value on Convertible Notes
Reworded paragraphs (11)
Previous wording
We are a development-stage biotechnology company focused on advancing and eventually commercializing immunotherapies for the treatment of cancer. We have historically advanced early-stage product candidates and we are pursuing new product candidates and platforms to build a new pipeline based on a deep understanding of immunotherapies.
Current wording
We are a development-stage biotechnology company focused on advancing and eventually commercializing immunotherapies for the treatment of cancer. We have historically advanced early-stage product candidates and we are pursuing new product candidates and platforms to build a new pipeline based on our understanding of immunotherapies.
Previous wording
On November 18, 2024, we entered into an unsecured convertible promissory note (“Note Purchase Agreement”) with an accredited investor (“Investor”) for proceeds of up to $200,000 to be used for general corporate purposes. On December 4, 2024, the Company received $200,000 under the note purchase agreement and issued an unsecured convertible note bearing interest at a rate of 5% per annum that is due and payable upon closing a financing of at least $10.0 million or convertible into shares of common stock of the Company, at the sole discretion of the accredited investor. The number of shares of common stock to be issued, if converted, would be equal to the unpaid principal amount and accrued and unpaid interest thereon divided by the closing price of our common stock on the date that is one day prior to such election. During the three months ended March 31, 2026 and 2025, the Company recorded interest expense on the note payable of $2,467 and $2,466, respectively. As of March 31, 2026 and December 31, 2025, the Company has accrued $13,208 and $10,741, respectively, in interest that is included in other accrued expenses within the accompanying unaudited condensed consolidated balance sheet.
Current wording
On November 18, 2024, we entered into an unsecured convertible promissory note (“Note Purchase Agreement”) with an accredited investor (“Investor”) for proceeds of up to $200,000 to be used for general corporate purposes. On December 4, 2024, the Company received $200,000 under the note purchase agreement and issued an unsecured convertible note bearing interest at a rate of 5% per annum that is due and payable upon closing a financing of at least $10.0 million or convertible into shares of common stock of the Company, at the sole discretion of the accredited investor. The number of shares of common stock to be issued, if converted, would be equal to the unpaid principal amount and accrued and unpaid interest thereon divided by the closing price of our common stock on the date that is one day prior to such election.
Previous wording
Our unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America, which require us to make estimates and judgments that significantly affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities. Actual results could differ from those estimates, and such differences could affect the results of operations reported in future periods. During the three months ended March 31, 2026, there have been no material changes to the Company’s significant accounting policies as compared to the significant accounting policies disclosed in Note 2 – Summary of Significant Accounting Policies included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025.
Current wording
Our unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America, which require us to make estimates and judgments that significantly affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities. Actual results could differ from those estimates, and such differences could affect the results of operations reported in future periods. During the six months ended June 30, 2026, there have been no material changes to the Company’s significant accounting policies as compared to the significant accounting policies disclosed in Note 2 – Summary of Significant Accounting Policies included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025.
Previous wording
Research and development expenses of approximately $16,000 for the three months ended March 31, 2026 are primarily related to salaries and related costs for personnel in research and development functions. We believe our research and development expenses will increase significantly over time if we are able to raise sufficient capital to advance our programs.
Current wording
Research and development expenses of approximately $16,000 for the three months ended June 30, 2026 and 2025, respectively, are primarily related to salaries and related costs for personnel in research and development functions.
Previous wording
General and administrative expenses of approximately $139,000 for the three months ended March 31, 2026 consist principally of salaries and related costs for personnel and consultants in executive and administrative functions of approximately $101,000, accounting and filing fees of approximately $28,000, director and officer insurance of approximately $7,000, and other expenses of approximately $3,000. The decrease in general and administrative expenses of approximately $20,000 for the three months ended March 31, 2026 as compared to the same prior year period was primarily due to (i) a decrease in accounting and filing fees of approximately $9,000 due to timing of services provided, (ii) a decrease in payroll and related costs of $8,000 due to a reduced time commitment by certain employees, (iii) a decrease in director and officer insurance of approximately $1,000 and (iv) a decrease of $2,000 in other miscellaneous corporate expenses. We believe our general and administrative expenses will increase over time as we hire new employees to support key administrative functions and the planned expansion of research and development personnel, provided we are able to raise sufficient capital to advance our programs.
Current wording
General and administrative expenses of approximately $280,000 for the six months ended June 30, 2026 consist principally of salaries and related costs for personnel and consultants in executive and administrative functions of approximately $218,000, accounting and filing fees of approximately $44,000, director and officer insurance of approximately $13,000, and other expenses of approximately $5,000. The decrease in general and administrative expenses of approximately $12,000 for the six months ended June 30, 2026 as compared to the same prior year period was primarily due to (i) a decrease in payroll and related expenses of approximately $3,000 due to a reduced time commitment by certain employees, (ii) a decrease in accounting and filing fees of approximately $4,000 due to timing of services provided and (iii) a decrease in other expenses of approximately $5,000.
Previous wording
On July 1, 2024, we entered into a Master Services Agreement with Oncotelic whereby we perform advisory and related services in connection with studies and projects. For the three months ended March 31, 2025, we earned $14,000 for advisory and related services which is recorded in other income in the accompanying unaudited condensed consolidated statements of operations. The Master Services Agreement expired effective February 28, 2025.
Current wording
On July 1, 2024, we entered into a Master Services Agreement with Oncotelic whereby we perform advisory and related services in connection with studies and projects. For the six months ended June 30, 2025, we earned $14,000 for advisory and related services which is recorded in other income in the accompanying unaudited condensed consolidated statements of operations. The Master Services Agreement expired effective February 28, 2025.
Previous wording
On July 1, 2024, we entered into a Master Services Agreement with Oncotelic whereby we perform advisory and related services in connection with studies and projects. For the three months ended March 31, 2025, we earned $14,000 for advisory and related services which is recorded in other income in the accompanying unaudited condensed consolidated statement of operations. The Master Services Agreement expired effective February 28, 2025.
Current wording
On July 1, 2024, we entered into a Master Services Agreement with Oncotelic whereby we perform advisory and related services in connection with studies and projects. For the three and six months ended June 30, 2025, we earned $14,000 for advisory and related services which is recorded in other income in the accompanying unaudited condensed consolidated statement of operations. The Master Services Agreement expired effective February 28, 2025.
Previous wording
The following table provides a summary of our net cash flow activity for the three months ended March 31, 2026 and 2025:
Current wording
The following table provides a summary of our net cash flow activity for the six months ended June 30, 2026 and 2025:
Previous wording
Net cash used in operating activities for the three months ended March 31, 2026 consisted of our net loss of $175,351, which amount was offset by (i) non-cash interest expense of $18,082 and (ii) a net change in operating assets and liabilities of $153,719, primarily due to (i) an increase in accrued compensation of $116,161 and (ii) an increase in accounts payable of $34,274.
Current wording
Net cash used in operating activities for the six months ended June 30, 2026 consisted of our net loss of $352,847, which amount was offset by (i) non-cash interest expense of $36,365 and (ii) a net change in operating assets and liabilities of $312,886, primarily due to an increase in accrued compensation of $233,997 and accounts payable of $50,442.
Previous wording
Net cash used in operating activities for the three months ended March 31, 2025 consisted of our net loss of $181,320, which amount was offset by (i) non-cash interest expense of $18,083 and (ii) a net change in operating assets and liabilities of $134,149, primarily due to an increase in accrued compensation of $121,297.
Current wording
Net cash used in operating activities for the six months ended June 30, 2025 consisted of our net loss of $353,348, which amount was offset by (i) non-cash interest expense of $36,365 and (ii) a net change in operating assets and liabilities of $255,547, primarily due to an increase in accrued compensation of $244,346.
Previous wording
There have been no new accounting pronouncements adopted by the Company or new accounting pronouncements issued by the Financial Accounting Standards Board during the three months ended March 31, 2026, as compared to the recent accounting pronouncements described in Note 2 of the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, that the Company believes are of significance or potential significance to the Company.
Current wording
There have been no new accounting pronouncements adopted by the Company or new accounting pronouncements issued by the Financial Accounting Standards Board during the three and six months ended June 30, 2026, as compared to the recent accounting pronouncements described in Note 2 of the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, that the Company believes are of significance or potential significance to the Company.
Rearranged current paragraphs (2)
Current report — wording carried from elsewhere
General and administrative expenses of approximately $141,000 for the three months ended June 30, 2026 consist principally of salaries and related costs for personnel and consultants in executive and administrative functions of approximately $117,000, accounting and filing fees of approximately $17,000, and director and officer insurance of approximately $7,000. The increase in general and administrative expenses of approximately $8,000 for the three months ended June 30, 2026 as compared to the same prior year period was primarily due to the timing services provided.
Current report — wording carried from elsewhere
Interest expense of approximately $41,000 and $41,000 for the six months ended June 30, 2026 and 2025, respectively, represents interest expense on convertible notes and loan payables.