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Get filing alertsStanding Risk Factors
- Going Concern (unchanged) — Substantial doubt about ability to continue as going concern persists due to insufficient cash and burn rate.
- Material Weakness (unchanged) — Material weakness in internal controls over financial reporting continues due to small accounting team size and staff turnover.
Valion Bio exits ClearUP device business, acquires CDMO assets; losses jump 56% to $8.9M
Filed March 30, 2026 · Period ending December 31, 2025 · Compared to 10-K Mar 21, 2025 · ~1 min read
Key Changes
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Company wound down its ClearUP consumer health business in November 2025, eliminating its primary revenue source. Management expects minimal to no revenue until new product candidates reach commercialization.
MD&A: ClearUP business wind down verify on EDGAR → -
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Acquired Scorpius CDMO assets in December 2025, entering contract manufacturing with no prior operating history in biopharmaceutical development or CDMO operations. New revenue stream faces customer insolvency and clinical trial failure risks.
MD&A: CDMO acquisition and operations verify on EDGAR → -
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Net loss increased 56% year-over-year to $8.9 million (from $5.7 million), while cash burn rose to $7.0 million from $5.7 million, driven by CDMO integration costs and ClearUP wind-down charges of $347k.
MD&A: Financial performance verify on EDGAR →
2 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.
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Source-verified from EDGAR · Narrative written by AI · Jun 4, 2026 · How we verify