NASDAQ: LABT
Lakewood-Amedex Biotherapeutics Inc.CIK 0002079272 · SIC 2834 · Pharmaceutical Preparations
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LABT: net income -$923,291. LABT discloses material control weaknesses, cash at quarter-end, emergency raise
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Lakewood-Amedex appoints biotech veteran Dr. Joseph Tucker to Board of Directors
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Latest financial statements
From 10-Q filed Aug 14, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed Statements of Operations
| Description | Three months ended June 30, 2026 (unaudited) | Three months ended June 30, 2025 (unaudited) | Six months ended June 30, 2026 (unaudited) | Six months ended June 30, 2025 (unaudited) |
|---|---|---|---|---|
| Revenue | — | — | — | — |
| Operating expenses: | ||||
| Research and development | 503,020 | 146,901 | 685,167 | 316,605 |
| General and administrative | 3,285,481 | 489,325 | 3,988,926 | 861,071 |
| Depreciation | 1,159 | 1,158 | 2,317 | 2,317 |
| Total operating expenses | 3,789,660 | 637,384 | 4,676,410 | 1,179,993 |
| Loss from operations | (3,789,660) | (637,384) | (4,676,410) | (1,179,993) |
| Other income (expense): | ||||
| Interest income | 28,285 | 5,390 | 29,363 | 9,697 |
| Interest expense | (10,633) | (23,949) | (48,852) | (25,264) |
| Other income | — | — | 600 | — |
| Total other income (expense), net | 17,652 | (18,559) | (18,889) | (15,567) |
| Net loss | (3,772,008) | (655,943) | (4,695,299) | (1,195,560) |
| Basic and diluted net loss per common share | (2.75) | (1.66) | (5.01) | (3.15) |
| Weighted average number of common shares outstanding, basic and diluted | 1,419,767 | 694,450 | 1,061,697 | 694,450 |
Condensed Balance Sheets (Unaudited)
| Description | As of June 30, 2026 (Unaudited) | As of December 31, 2025 |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | 2,584,774 | 236,400 |
| Investments | 2,000,000 | — |
| Interest receivable | 4,526 | — |
| Prepaid expenses and other current assets | 255,999 | 68,989 |
| Total current assets | 4,845,299 | 305,389 |
| Operating lease right-of-use asset | 99,981 | 158,852 |
| Property and equipment, net | 6,908 | 9,225 |
| Other assets | 7,821 | 8,132 |
| Total assets | 4,960,009 | 481,598 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) | ||
| Current liabilities: | ||
| Accounts payable | 165,942 | 381,041 |
| Accrued expenses and other current liabilities | 361,365 | 303,872 |
| Accrued interest related parties | — | 100,881 |
| Operating lease liability current portion | 101,619 | 119,306 |
| Notes payable related parties | — | 1,500,000 |
| Total current liabilities | 628,926 | 2,405,100 |
| Operating lease liability, net of current portion | — | 41,035 |
| Total liabilities | 628,926 | 2,446,135 |
| Commitments and Contingencies | ||
| Stockholders’ equity (deficit): | ||
| Series A convertible preferred stock, voting, $0.0001 par value, 8,000,000 shares authorized; 0 and 6,590,045 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively. | — | 659 |
| Series B convertible preferred stock, voting, $0.0001 par value, 52,500,000 shares authorized; 0 and 23,811,426 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively. | — | 2,381 |
| Series C convertible preferred stock, voting, $0.0001 par value, 937,500 shares authorized; 497,157 and 0 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively. | 50 | — |
| Common stock, $0.0001 par value, 12,500,000 shares authorized; 2,173,986 issued and 2,169,199 outstanding at June 30, 2026; 704,435 issued and 699,648 outstanding at December 31, 2025. | 217 | 70 |
| Additional paid-in capital | 73,120,812 | 51,533,483 |
| Accumulated deficit | (68,639,996) | (53,351,130) |
| Treasury stock, 4,787 shares, at cost, at June 30, 2026 and December 31, 2025. | (150,000) | (150,000) |
| Total stockholders’ equity (deficit) | 4,331,083 | (1,964,537) |
| Total liabilities and stockholders’ equity (deficit) | 4,960,009 | 481,598 |
Condensed Statements of Cash Flows
| Description | Six months ended June 30, 2026 (unaudited) | Six months ended June 30, 2025 (unaudited) |
|---|---|---|
| Cash flows from operating activities: | ||
| Net loss | (4,695,299) | (1,195,560) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation | 2,317 | 2,317 |
| Stock-based compensation | 107,425 | 102,698 |
| Amortization of right-of-use asset | 58,871 | 57,277 |
| Issuance of common stock for professional services | 2,434,080 | - |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses and other assets | (191,225) | 40,262 |
| Accounts payable | (215,099) | (86,945) |
| Accrued expenses and other current liabilities | 57,493 | 197,412 |
| Accrued interest related parties | 46,438 | 25,264 |
| Operating lease liability | (58,722) | (55,368) |
| Net cash used in operating activities | (2,453,721) | (912,643) |
| Cash flows from investing activities: | ||
| Purchases of investments | (2,000,000) | - |
| Net cash used in investing activities | (2,000,000) | - |
| Cash flows from financing activities: | ||
| Proceeds from issuance of Series C Convertible Preferred Stock, net of issuance costs of $697,905 | 6,802,095 | - |
| Proceeds from notes payable related parties | 168,158 | 1,500,000 |
| Proceeds from notes payable other | 30,000 | - |
| Repayment of notes payable related parties | (168,158) | - |
| Repayment of notes payable other | (30,000) | - |
| Net cash provided by financing activities | 6,802,095 | 1,500,000 |
| Net increase in cash and cash equivalents | 2,348,374 | 587,357 |
| Cash and cash equivalents beginning of period | 236,400 | 681,098 |
| Cash and cash equivalents end of period | 2,584,774 | 1,268,455 |
| Supplemental disclosure of cash flow information: | ||
| Cash paid during the six months ended for: | ||
| Interest | 2,409 | - |
| Non-cash investing and financing activities: | ||
| Conversion of convertible notes payable into common stock | 1,500,000 | - |
| Conversion of convertible notes payable accrued interest into common stock | 147,319 | - |
Amounts as printed on the EDGAR/iXBRL face. Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗