7Baggers

Genelux Corp.
(NASDAQ:GNLX) 

GNLX stock logo

Genelux Corporation, a clinical-stage biopharmaceutical company, focuses on developing next-generation oncolytic viral immunotherapies for patients suffering from aggressive and/or difficult-to-treat solid tumor types. Its lead product candidate is Olvi-Vec, a proprietary, modified strain of the vac...

Founded: 2001
IPO Price: $6 (Jan 26, 2023)
Full Time Employees: 15
Sector: Healthcare
Industry: Biotechnology
Healthcare
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At a glance:
Bull Thesis:
Bear Thesis:
Main Competitors:
Moat:
Income Statements:
Quarterly
Annual
    Unit: USD2026-03-31 2025-12-31 2025-09-30 2025-06-30 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 
                 
      revenue
    		             
      yoy
    		             
      qoq
    		             
      operating expenses:
    		             
      research and development
    		5,778,000 5,654,000 4,741,000 4,758,000 6,520,000 4,051,000 4,417,000 4,010,000 4,160,000 2,819,000 2,943,000 2,845,000  
      general and administrative
    		3,393,000 3,766,000 3,453,000 3,034,000 3,228,000 2,890,000 2,475,000 4,113,000 2,841,000 2,488,000 2,452,000 3,787,000  
      total operating expenses
    		9,171,000 9,420,000 8,194,000 7,792,000 9,748,000 6,941,000 6,892,000 8,123,000 7,001,000 5,307,000 5,395,000 6,632,000  
      operating income
    		-9,171,000             
      yoy
    		             
      qoq
    		             
      operating margin %
    		-Infinity% NaN% NaN% NaN% NaN% NaN% NaN% NaN% NaN% NaN% NaN% NaN%  
      other income:
    		             
      interest income
    		173,000 128,000 175,000 224,000 -355,000 474,000 316,000 265,000 240,000 4,000    
      bond accretion income
    		70,000 37,000 69,000 112,000          
      total other income
    		243,000 165,000 244,000 336,000          
      net income
    		-8,928,000 -9,247,000 -7,950,000 -7,456,000 -8,976,000 -6,467,000 -6,576,000 -7,850,000 -6,767,000 -5,345,000 -5,821,000 -10,364,000  
      yoy
    		-0.53% 42.99% 20.89% -5.02% 32.64% 20.99% 12.97% -24.26%      
      qoq
    		-3.45% 16.31% 6.63% -16.93% 38.80% -1.66% -16.23% 16.00% 26.60% -8.18% -43.83%   
      net income margin %
    		-Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity%  
      net income per share
    		-0.2             
      weighted-average shares outstanding- basic and diluted
    		44,150,958             
      other comprehensive loss:
    		             
      unrealized loss on marketable securities
    		-14             
      comprehensive loss
    		-8,942 -32,177,046 -7,945 -7,482          
      income from operations
    		 -5,950,500 -8,194,000 -7,792,000 -9,748,000 -6,941,000 -6,892,000 -8,115,000 -7,001,000 -5,307,000 -5,395,000 -6,462,000  
      loss per share - basic and diluted
    		 -0.155 -0.21 -0.2          
      weighted-average shares outstanding
    		             
      - basic and diluted
    		 9,216,901.75 37,893,314 37,946,330          
      net unrealized gain on investments
    		 -14 5           
      net unrealized loss on investments
    		   -26          
      revenues
    		       8,000    170,000  
      other income
    		             
      interest expense
    		        -6,000  -24,000 -143,000  
      debt discount amortization
    		           -649,000  
      financing costs
    		         -42,000  -3,110,000  
      debt extinguishment costs
    		          -402,000   
      total other income (expenses)
    		    772,000 474,000 316,000 265,000      
      loss per common share - basic and diluted
    		    -260 -190 -220 -290      
      weighted-average common shares outstanding - basic and diluted
    		     34,532,355,000 29,689,344,000 26,849,737,000 24,429,278,000     
      gain on forgiveness of ppp loan payable
    		             
      total other expenses
    		        -1,091,500 -38,000 -426,000 -3,902,000  
      income before provision for foreign income taxes
    		        -5,382,500 -5,345,000    
      provision for foreign income taxes
    		             
      income per common share - basic
    		        -227.5 -200    
      weighted-average common shares outstanding - basic
    		         26,210,068,000    
      income per common share - diluted
    		        -227.5 -200    
      weighted-average common shares outstanding - diluted
    		         26,210,068,000    
      other expenses:
    		             
      basic and diluted loss per common share
    		          -230 -530  
      weighted-average common shares outstanding -basic and diluted
    		    31,450,727,000      25,068,334,000   
      weighted-average common shares outstanding -
    		             
      basic and diluted
    		           19,575,631,000  
    Balance Sheets:
    Quarterly
    Annual
      Unit: USD2026-03-31 2025-12-31 2025-09-30 2025-06-30 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-03-31 2022-12-31 
                  
        assets
      		            
        current assets:
      		            
        cash, cash equivalents and restricted cash
      		9,273,000 5,333,000 4,692,000          
        marketable securities
      		16,936,000 9,262,000           
        prepaid expenses and other current assets
      		545,000 535,000 637,000 1,263,000 653,000 1,910,000 1,234,000 1,577,000 1,012,000 1,310,000 1,718,000 1,495,000 
        total current assets
      		26,754,000 15,130,000 21,552,000 29,235,000 31,548,000 35,967,000 34,870,000 21,204,000 24,203,000 31,179,000 12,056,000 1,892,000 
        property and equipment
      		3,081,000 2,170,000 1,794,000 1,339,000 1,316,000 1,278,000 1,306,000 1,116,000 1,170,000 1,022,000 617,000 644,000 
        right of use assets
      		2,393,000 1,583,000 1,518,000 1,600,000 1,760,000 1,930,000 2,098,000 2,264,000 2,428,000 1,779,000   
        other assets
      		144,000 144,000 123,000 73,000 92,000 92,000 92,000 92,000 92,000 92,000 92,000 92,000 
        total assets
      		32,372,000 19,027,000 24,987,000 32,247,000 34,716,000 40,270,000 45,179,000 24,676,000 27,893,000 34,072,000 14,616,000 5,531,000 
        liabilities and stockholders’ equity
      		            
        current liabilities:
      		            
        accounts payable and accrued expenses
      		6,095,000 4,358,000 3,987,000 6,033,000 5,570,000 4,454,000 4,786,000 5,313,000 3,784,000 4,009,000 5,292,000 6,775,000 
        accrued payroll and payroll taxes
      		861,000 1,440,000 785,000 610,000 1,004,000 686,000 517,000 1,908,000 2,117,000 4,101,000   
        lease liabilities, current portion
      		316,000 427,000 354,000 345,000 329,000 415,000 500,000 584,000     
        total current liabilities
      		7,272,000 6,225,000 5,126,000 6,988,000 6,903,000 5,555,000 5,803,000 7,805,000 6,554,000 8,755,000 10,543,000 31,626,000 
        lease liabilities, long-term portion
      		2,179,000  1,270,000 1,361,000 1,539,000 1,624,000 1,707,000 1,787,000     
        total liabilities
      		9,451,000 7,483,000 6,396,000 8,349,000 8,442,000 7,179,000 7,510,000 9,592,000 8,420,000 10,044,000 11,925,000 41,314,000 
        commitments and contingencies
      		            
        stockholders’ equity:
      		            
        common stock
      		45,000 38,000 38,000 38,000 35,000 35,000 35,000 27,000 27,000 27,000 25,000 9,000 
        treasury stock
      		-433,000 -433,000 -433,000 -433,000 -433,000 -433,000 -433,000 -433,000 -433,000 -433,000 -433,000 -433,000 
        additional paid-in capital
      		315,780,000 295,468,000 293,269,000 290,631,000 278,001,000 275,782,000 274,028,000 244,869,000 241,389,000 239,189,000 206,688,000 154,401,000 
        accumulated other comprehensive income
      		-5,000 9,000 8,000 3,000 64,000 124,000 -11,000 -5,000 14,000 2,000 2,000 2,000 
        accumulated deficit
      		-292,466,000 -283,538,000 -274,291,000 -266,341,000 -251,393,000 -242,417,000 -235,950,000 -229,374,000 -221,524,000 -214,757,000 -203,591,000 -189,784,000 
        total stockholders’ equity
      		22,921,000 11,544,000 18,591,000 23,898,000         
        total liabilities and stockholders’ equity
      		32,372,000 19,027,000 24,987,000 32,247,000         
        lease liabilities, net of current portion
      		 1,258,000           
        short-term investments
      		  16,223,000 21,426,000 22,330,000 27,955,000 25,778,000 15,566,000 13,773,000    
        total other assets
      		  3,435,000 3,012,000 3,168,000 4,303,000 10,309,000 3,472,000 3,690,000 2,893,000 2,560,000 3,639,000 
        cash and cash equivalents
      		   6,546,000 8,565,000 6,102,000 7,858,000 4,061,000 9,418,000 29,869,000   
        current assets
      		            
        liabilities and shareholders’ equity
      		            
        current liabilities
      		            
        shareholders’ equity
      		            
        preferred stock, par value 0.001, 10,000,000 shares authorized; no shares issued and outstanding, respectively;
      		            
        total shareholders’ equity
      		    26,274,000 33,091,000 37,669,000 15,084,000 19,473,000 24,028,000 2,691,000  
        total liabilities and shareholders’ equity
      		    34,716,000 40,270,000 45,179,000 24,676,000 27,893,000 34,072,000 14,616,000  
        long-term investments
      		     1,003,000 6,813,000      
        preferred stock, par value 0.001, 10,000,000 shares authorized; no shares issued and outstanding, respectively
      		            
        deferred offering costs
      		           1,568,000 
        accrued interest payable
      		           1,178,000 
        accrued interest payable - director and shareholders
      		         38,000 108,000  
        deferred revenue
      		           170,000 
        warrant liabilities
      		           169,000 
        lease liability, current portion
      		        653,000 567,000 568,000 266,000 
        notes payable - shareholders, net of debt discount of 108 in 2022
      		          1,600,000  
        convertible notes payable - shareholders, current portion
      		            
        long-term liabilities
      		            
        lease liability, long-term portion
      		        1,866,000 1,289,000 1,382,000 1,164,000 
        convertible notes payable, net of debt discount of 541 in 2022
      		            
        total long-term liabilities
      		        1,866,000 1,289,000 1,382,000 9,688,000 
        preferred stock, series a through k, par value 0.001, 10,000,000 shares authorized as of 12/31/2023 and 29,927,994 authorized as of 12/31/2022; no shares and 22,094,889 shares issued and outstanding, respectively;
      		            
        convertible notes payable - shareholders, current portion, including 40 and 105 past due, respectively
      		         40,000   
        preferred stock, series a through k, par value 0.001, 10,000,000 shares authorized as of 9/30/2023 and 29,927,994 authorized as of 12/31/2022; no shares and 22,094,889 shares issued and outstanding, respectively;
      		            
        cash
      		          10,338,000 397,000 
        right of use asset
      		          1,851,000 1,335,000 
        accrued compensation
      		          2,910,000 2,852,000 
        convertible notes payable - shareholders, current portion, including 65 and 105 past due, respectively
      		          65,000  
        preferred stock, series a through k, par value 0.001, 29,927,994 shares authorized; no shares and 22,094,889 shares issued and outstanding, respectively;
      		            
        liabilities and shareholders’ deficit
      		            
        accrued interest payable—director and shareholders
      		           3,817,000 
        notes payable—shareholders, net of debt discount of 108 in 2022
      		           992,000 
        convertible notes payable—shareholders, current portion, including 105 and 235 past due, respectively
      		           15,407,000 
        u.s. small business administration ppp loan payable
      		            
        convertible notes payable, net of debt discount of 541 and 738, respectively
      		           8,524,000 
        convertible notes payable—shareholders, long-term portion
      		            
        shareholders’ deficit
      		            
        preferred stock, series a through k, par value 0.001, 29,927,994 shares authorized; 22,094,889 shares issued and outstanding, respectively;
      		           22,000 
        total shareholders’ deficit
      		           -35,783,000 
        total liabilities and shareholders’ deficit
      		           5,531,000 
      Cashflow Statements:
      Quarterly
      Annual
        Unit: USD2026-03-31 2025-12-31 2025-09-30 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 
                
          cash flows from operating activities
        		        
          net loss
        		-8,928,000 -9,247,000 -7,950,000 -8,976,000 -6,467,000 -6,576,000 -7,850,000 -6,767,000 
          adjustments to reconcile net loss to net cash from operating activities:
        		        
          depreciation expense
        		9,000 60,000 62,000 57,000 56,000 38,000 84,000 95,000 
          net amortization of premiums and discounts on marketable securities
        		-70,000        
          right-of-use asset
        		89,000 88,000 82,000 170,000 168,000    
          stock compensation
        		1,394,000 1,535,000 1,623,000 1,430,000 1,521,000 1,298,000 1,489,000 1,533,000 
          fair value of restricted stock units
        		319,000 320,000 290,000 692,000 227,000 136,000 989,000 166,000 
          cost of stock option modifications and repricing
        		68,000 68,000 725,000 6,000 6,000 6,000 314,000  
          changes in operating assets and liabilities:
        		        
          prepaid expenses and other assets
        		-10,000 79,000 577,000 927,000 -346,000 343,000 -565,000 298,000 
          accounts payable and accrued expenses
        		1,737,000 374,000 -2,040,000 1,816,000 -662,000 -527,000 1,529,000 -225,000 
          accrued payroll and payroll taxes
        		-580,000 655,000 170,000 318,000 169,000 -1,391,000 -209,000 -1,984,000 
          lease liability
        		-87,000 -93,000 -83,000 -171,000 -168,000 -164,000 -148,000 -92,000 
          net cash from operating activities
        		-6,059,000 -6,199,000 -6,575,000 -4,302,000 -5,748,000 -6,824,000 -4,354,000 -6,910,000 
          capital expenditures
        		-921,000 -436,000 -517,000 -96,000 -27,000 -228,000 -30,000 -243,000 
          free cash flows
        		-6,980,000 -6,635,000 -7,092,000 -4,398,000 -5,775,000 -7,052,000 -4,384,000 -7,153,000 
          cash flows from investing activities
        		        
          purchases of property and equipment
        		-921,000 -436,000 -517,000 -96,000 -27,000 -228,000 -30,000 -243,000 
          purchase of marketable securities
        		-14,398,000        
          proceeds from maturities of marketable securities
        		6,780,000        
          net cash from investing activities
        		-8,539,000 6,564,000 4,721,000 6,674,000 3,992,000 -17,106,000 -1,691,000 -13,942,000 
          cash flows from financing activities
        		        
          proceeds from the exercise of stock options
        		13,000 0 0     153,000 
          proceeds from common stock issued
        		18,525,000 0 0      
          net cash from financing activities
        		18,538,000 276,000 0 91,000 0 27,727,000 688,000 401,000 
          net increase in cash, cash equivalents and restricted cash
        		3,940,000        
          cash, cash equivalents and restricted cash
        		        
          beginning of period
        		5,333,000 0       
          end of period
        		9,273,000 641,000       
          supplemental non-cash financing disclosures:
        		        
          unrealized loss on marketable securities
        		14,000        
          remeasurement of right of use asset and lease liability upon lease extension
        		896,000        
          accretion of discount on marketable securities
        		        
          gain on extinguishment of accounts payable
        		        
          proceeds from sales and maturities of marketable securities
        		        
          proceeds from common stock issued in connection with the company’s equity award programs
        		   76,000 0    
          proceeds from the exercise of stock warrants
        		   0 0 0 688,000 248,000 
          net decrease in cash, cash equivalents and restricted cash
        		 641,000       
          unrealized gain on marketable securities
        		        
          initial recognition of right-of-use asset obtained in exchange for operating lease liabilities
        		        
          net amortization of premiums and discounts on short-term investments
        		  -31,000 -201,000 -252,000 -153,000 -151,000  
          purchase of investments
        		  -5,262,000      
          proceeds from maturities of investments
        		  10,500,000      
          proceeds from common stock issued for company equity award
        		  0      
          unrealized gain on investments
        		   -60,000     
          accrual of other receivable
        		        
          adjustments to reconcile net loss to net cash used in operating activities:
        		        
          net decrease in cash and cash equivalents
        		        
          cash and cash equivalents, beginning of period
        		        
          cash and cash equivalents, end of period
        		        
          unrealized loss on investments
        		        
          amortization of debt discount
        		       0 
          debt extinguishment costs
        		       0 
          fair value of warrants issued in connection with the conversion of convertible notes payable
        		        
          changes in assets and liabilities
        		        
          decrease in:
        		        
          increase in:
        		        
          accrued interest payable
        		       0 
          deferred revenue
        		       0 
          purchase of short and long-term investments
        		   -480,000 -1,981,000    
          proceeds from sales and maturities of short and long-term investments
        		        
          proceeds from notes payable - shareholders
        		       0 
          repayment of notes payable - shareholders
        		       0 
          payment of deferred offering costs
        		       0 
          proceeds from common stock issued for cash in connection with the closing of the ipo
        		       0 
          proceeds from common stock issued for cash in connection with the closing of private financings
        		       0 
          proceeds from common stock issued for cash in connection with the closing of a second public offering
        		        
          net increase in cash and cash equivalents
        		      -5,357,000 -20,451,000 
          cash and cash equivalents at the beginning of year
        		        
          cash and cash equivalents at the end of year
        		        
          supplemental cash flows disclosures:
        		        
          interest paid
        		       0 
          taxes paid
        		        
          effect of the extension of right-of-use asset and operating lease
        		        
          reclassification of deferred offering costs to shareholders’ equity
        		       0 
          reclassification of warrant liabilities to shareholders’ equity
        		       0 
          conversion of convertible notes payable, accrued interest and loan fees to shareholders’ equity
        		       78,000 
          conversion of preferred stock to common stock
        		       0 
          conversion of dividends payable to shareholders’ equity
        		       0 
          conversion of notes payable-shareholders and accrued interest to shareholders’ equity
        		       0 
          (increase) decrease in:
        		        
          (decrease) increase in:
        		        
          proceeds from sales and maturities of short-term investments
        		    6,000,000 6,500,000 1,500,000  
          proceeds from notes payable – shareholders
        		        
          repayment of notes payable – shareholders
        		        
          proceeds from common stock issued for cash in connection with the closing of a secondary offering
        		        
          net increase in cash
        		    -1,756,000    
          cash and cash equivalents at the beginning of period
        		    0    
          cash and cash equivalents at the end of period
        		    -1,756,000    
          repayment of convertible notes payable – shareholders
        		        
          proceeds from common stock issued for cash in connection with the closing of a second offering
        		        
          right-of-use assets
        		      164,000 106,000 
          purchase of short-term investments
        		      -3,161,000  
          cash and cash equivalents at beginning of period
        		      9,418,000  
          cash and cash equivalents at end of period
        		      4,061,000  
          effect of the extension of right-of-use assets and operating leases
        		       767,000 
          cost of stock option repricing
        		       22,000 
          gain on forgiveness of ppp loan payable
        		        
          purchases of short-term investments
        		        
          repayment of convertible notes payable - shareholders
        		        
          cash and cash equivalents at beginning of year
        		        
          cash and cash equivalents at end of year
        		        
          fair value of warrants issued in connection with the the conversion of convertible notes payable
        		        
          gain on settlement of convertible note payable
        		        
          cost of stock option modifications
        		        
          fair value of warrants issued upon conversion of loan payable from shareholder
        		        
          accrued compensation
        		        
          proceeds from convertible notes payable - shareholders
        		        
          proceeds from convertible notes payable
        		        
          repayment of convertible note payable
        		        
          proceeds from the exercises of stock warrants
        		        
          proceeds from the exercise of stock option
        		        
          proceeds from common stock and warrants issued for cash
        		        
          net decrease in cash
        		        
          cash beginning of period
        		        
          cash end of period
        		        
          initial recognition of right-of-use assets and operating lease liabilities upon execution of new leases
        		        
          conversion of convertible note payable and accrued interest into shares of common stock
        		        
          fair value of warrant recorded as debt discount on issuance of convertible note payable
        		        
          effect of adoption of asu 2020-06