Rakovina Therapeutics Announces Three-Month Q2 ended June 30, 2025 Financial Results and Provides Corporate Update

About this update from Rakovina Therapeutics Inc

[{"type":"text","content":"Rakovina Therapeutics Announces Three-Month Q2 ended June 30, 2025 Financial Results and Provides Corporate UpdateAll dollar amounts reflected in Canadian dollars unless otherwise stated\n\n\n\n VANCOUVER, British Columbia, Aug. 28, 2025 (GLOBE NEWSWIRE) -- Rakovina Therapeutics Inc. (“Rakovina” or the “Company”) (TSX-V: RKV) (FSE: 7JO0), a biopharmaceutical company advancing cancer therapies through AI-powered drug discovery, today announced its financial results for the three months ended June 30, 2025\n \n (“Q2 2025”\n \n ), and provided an update on recent corporate developments.\n \n\n\n Q2 2025 Financial Highlights\n \n\n\n\n Reported a net loss of\n \n $2,916,944\n \n .\n \n\n\n Research and development (R&D) expenses\n \n were\n \n $1,611,985\n \n , reflecting continued advancement of AI-powered drug candidates.\n \n\n\n General and administrative (G&A) expenses\n \n were\n \n $1,213,489\n \n including investor & public relations and exchange-related fees.\n \n\n\n Operating expense cash burn (non-IFRS measure)\n \n was approximately\n \n $2.65 million\n \n .\n \n\n\n Cash and cash equivalents\n \n as at June 30, 2025 were\n \n $1.88 million\n \n .\n \n\n\n\n\n Recent Corporate Highlights\n \n\n\n\n\n Private Placement Financing:\n \n On June 6, 2025, the Company closed a non-brokered private placement of 7,110,300 equity units (71,103,000 pre-consolidation) for gross proceeds of approximately $3.56 million and a concurrent $1.35 million unsecured convertible debenture financing. Each unit consisted of one common share and one warrant exercisable at $1.00 post-consolidation ($0.10 pre-consolidation) for 24 months from the date of issuance.\n \n\n\n Reverse Share Consolidation:\n \n Effective June 24, 2025, the Company implemented a 1-for-10 share consolidation. Following the consolidation, there were\n \n 21,148,039 common shares\n \n issued and outstanding as at June 30, 2025.\n \n\n\n Convertible Debentures:\n \n During Q2, the Company recorded accretion expense of\n \n $38,817\n \n and issued shares for accrued interest in accordance with the debenture terms.\n \n\n\n\n\n Subsequent Events\n \n\n\n\n On June 30, 2025, the Company announced its intention to amend certain outstanding warrants and unsecured convertible debentures with an aggregate principal amount of\...

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