| Line Item | 2026-04-30 | Q/Q | Y/Y |
|---|---|---|---|
| R&D Expense | $6.0M | -1.4% | +24.0% |
| SG&A Expense | $1.7M | +11.9% | +9.0% |
| Operating Income | -$7.6M | -1.2% | -20.4% |
| Net Income | -$7.2M | +0.8% | -16.9% |
| EPS (Basic) | -$0.99 | +61.6% | +39.6% |
| EPS (Diluted) | -$0.99 | +61.6% | +39.6% |
| Line Item | 2026-04-30 | Q/Q | Y/Y |
|---|---|---|---|
| Cash & Equivalents | $6.9M | -77.0% | -44.8% |
| Short-term Investments | $15.9M | — | — |
| Current Assets | $25.4M | -21.1% | +71.7% |
| Total Assets | $27.1M | -19.4% | +59.2% |
| Current Liabilities | $3.6M | +12.7% | -17.1% |
| Stockholders' Equity | $23.4M |
| Line Item | 2026-04-30 | Q/Q | Y/Y |
|---|---|---|---|
| Operating Cash Flow | -$22.7M | — | — |
| Capital Expenditures | $127K | — | — |
| Investing Cash Flow | -$8.8M | — | — |
| Financing Cash Flow | $27.9M | — | — |
| Free Cash Flow | -$22.8M | — | — |
Business Overview
BriaCell Therapeutics Corp is a clinical-stage biotechnology company developing novel immunotherapies to transform cancer care, currently advancing its lead candidate Bria-IMT targeted immunotherapy in combination with an immune checkpoint inhibitor (Retifanlimab) in a pivotal Phase 3 study in metastatic breast cancer under FDA Fast Track Designation. The company is also developing personalized off-the-shelf immunotherapies (Bria-OTS and Bria-OTS+) with ongoing Phase 1/2 studies and completed manufacturing of Bria-PROS+ for prostate cancer. During the nine-month period ended April 30, 2026, the company raised approximately $30 million in gross proceeds from a January 2026 public offering and completed a transaction with its subsidiary BriaPro to transfer exclusive rights to develop and commercialize Soluble CD80 (sCD80) in exchange for additional equity in BriaPro.
Segment Performance
The company operates as a single reportable segment focused on research and development of immunotherapy product candidates. For the nine-month period ended April 30, 2026 compared to April 30, 2025: Research, development, and clinical trial expenses increased to $18.7 million from $14.2 million; General and administrative expenses increased to $5.0 million from $4.5 million; Total operating loss increased to $23.5 million from $18.7 million; Net loss attributable to BriaCell was $22.6 million compared to $18.2 million in the prior year period. The company does not generate segment-specific revenues.
Key Risk Factors
The company faces substantial going concern uncertainty, as evidenced by accumulated deficit of $134.3 million and negative operating cash flows of $22.7 million in the nine-month period, with continued dependence on future equity financing to support operations. The company is a clinical-stage biotech with no revenue, sustained operating losses totaling $23.5 million for the nine-month period, and expects losses to continue in the foreseeable future. The success of the company's pivotal Phase 3 trial for Bria-IMT and ability to obtain FDA approval is critical to future viability and commercialization prospects. Additionally, the company's ability to raise necessary capital and obtain continued financing poses a significant risk to continuing operations.
| -22.5% |
| +96.0% |