$1,307,300: that is the unaudited net loss Niki BioSolutions, Inc. (NIKI) recorded for the six months ended June 30, 2026, per an 8-K filed with the SEC. The math: $1,414,560 in total operating expenses less $107,260 in net other income, with a $164,000 warrant fair-value gain providing the offset. Against the year-ago period's $449,295 loss, that is a 191% YoY deterioration.
Where the loss went
The sharpest line is R&D. Research and development expenses reached $383,752 in H1 2026, up from $19,375 in H1 2025, a near-20x move in one year. Legal and professional fees climbed to $547,131 from $418,881, and general and administrative costs rose to $427,567 from $187,422. Other operating income, which contributed $222,912 in the prior period, flipped to a $56,110 expense.
| Operating line | H1 2026 (reported) | H1 2025 (reported) | YoY change |
|---|---|---|---|
| R&D | $383,752 | $19,375 | +$364,377 |
| G&A | $427,567 | $187,422 | +$240,145 |
| Legal / professional | $547,131 | $418,881 | +$128,250 |
| Other operating | ($56,110) | $222,912 | ($279,022) |
| Total operating expenses | $1,414,560 | $402,766 | +$1,011,794 |
Cash and the balance sheet
Cash opened the half at $3,452,891 and closed at $1,834,171, a $1,618,720 drawdown. Operating activities consumed $1,553,720; investing used $65,000. There was no financing activity in the period. In H1 2025, a Class A share placement netted $2,699,200, keeping cash afloat. That source is gone, and at the current six-month burn rate the $1.83M balance covers roughly 7 months of operating spend before the company needs additional capital.
Total assets fell to $17,133,926 from $18,691,370 at December 31, 2025, almost entirely on the cash decline. Long-term investments held flat at $15,098,846. The accumulated deficit widened to $75,118,802 from $73,792,798, consistent with the $1,326,004 net loss attributable to Niki BioSolutions shareholders over the six months.
Convertible notes to a related party stood at $3,508,500, up from $3,418,500. The warrant liability contracted to $142,000 from $306,000, generating the $164,000 fair-value gain that partly offset operating losses. Loss per share (basic and diluted) was $(1.60) against $(0.60) in H1 2025, on a weighted-average share count of 814,375 versus 712,679. Both figures reflect the 1-for-10 reverse stock split effective July 20, 2026, the same date the company completed its announced merger and domesticated from Cayman Islands to U.S. incorporation.