MELBOURNE, Australia, Feb. 18, 2026 (GLOBE NEWSWIRE) -- Propanc Biopharma, Inc. (Nasdaq: PPCB) (“Propanc” or the “Company”), a biopharmaceutical company developing novel treatments for recurrent and metastatic cancer, today announced an update on corporate progress and reported half yearly financial results as of December 31, 2025 (Year end June 30).
Corporate and R&D Highlights
Accelerates IP Momentum: Files Four Provisional Patent Applications – Strengthening Global Protection for Breakthrough Proenzyme Formulations
Four provisional patent applications were filed with IP Australia detailing two new methods to treat resistant cancer and fibrosis, methods of producing synthetic trypsinogen and chymotrypsinogen, and innovative formulations of trypsinogen and chymotrypsinogen. As these applications advance to national phase entry across major global markets, it is expected to more than double the Company’s IP portfolio — from approximately 90 to over 200 patents — covering compositions, formulations, treatment methods, and new therapeutic indications
Publishes Impact of Proenzymes on Pancreatic Ductal Adenocarcinoma Fibroblasts in Peer Reviewed Journal
The Company and its joint research partners at the Universities of Jaén and Granada published key findings in a peer reviewed journal, Scientific Reports, regarding the impact of proenzymes on pancreatic ductal adenocarcinoma (PDAC) fibroblasts. The tumor microenvironment (TME) plays a pivotal role in tumor initiation, progression, and the form of pre-metastatic niches. PDAC is characterized by a dense fibrotic stroma containing a significant enriched population of cancer-associated fibroblasts (CAFs). The interplay between CAFs and tumor cells is crucial in driving tumor advancement and metastasis, underscoring the potential benefits of novel therapeutic strategies targeting stromal cells to improve patient survival. PRP, consisting of two bovine derived pancreatic proenzymes, trypsinogen and chymotrypsinogen, have shown efficacy in cancer treatment. The findings demonstrate PRP exerts multifaceted effects. Results underscore the candidacy of PRP as a potential disruptor of the TME.
Corporate and Financial Updates
$100 Million Private Placement Facility
Propanc entered into a private placement agreement for up to $100 million to accelerate clinical development. The Company received an initial $1 million investment upon issuance of 100 shares of Series C Convertible Preferred Stock. A further $500,000 investment was received upon exercise of 50 shares of Series C Convertible Preferred Stock.
Q1 Financial Summary (Quarter Ended September 30, 2025)
Total assets: $15.11 million
Total liabilities reduced by $2.07 million
Convertible notes reduced to $55,000 (from $538,000)
Net cash from financing activities: $3.49 million
Quarter-end cash: $561,237
$0.5 million tranche from the Series C facility subsequently received
The Company expects the financing facility to continually support planned R&D activities, including advancement of PRP and Rec-PRP.
Management Commentary
“We are pleased with the advancements made with our R&D programs and in particular, our lead asset PRP which we are preparing for our world-first, Phase 1b, First-In-Human study in advanced cancer patients,” said James Nathanielsz, CEO of Propanc. “We are executing several activities in preparation for this pivotal study, which we believe will become a future breakthrough treatment for metastatic cancer from solid tumors, especially fast spreading tumors with a poor patient prognosis where few treatment options exist. Activities include partnering with GMP manufacturing and bio-analytical contract organizations to produce the drug product and validate the pharmacokinetics method for the upcoming pivotal study. In the meantime, we continue to build the foundation for sustained success by extending our scientific research through partner universities, which enables further patentable discoveries including new therapeutic indications that could elevate proenzyme technology to future blockbuster status.”
About Propanc Biopharma, Inc.
Propanc Biopharma, Inc. (Nasdaq: PPCB) is developing a novel approach to preventing cancer recurrence and metastasis by targeting and eradicating cancer stem cells through proenzyme activation. The Company’s lead product candidate, PRP, is designed to address the underlying drivers of cancer proliferation and spread.
More information: www.propanc.com
Forward-Looking Statements
All statements in this press release that are not historical are forward-looking statements, including, among other things, statements relating to the Company’s expectations regarding its market position and market opportunity, expectations and plans as to its product development, manufacturing and sales, and relations with its partners and investors, made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are not historical facts but rather are based on the Company’s current expectations, estimates, and projections regarding its business, operations and other similar or related factors. Words such as “may,” “will,” “could,” “would,” “should,” “anticipate,” “predict,” “potential,” “continue,” “expect,” “intend,” “plan,” “project,” “believe,” “estimate,” and other similar or related expressions are used to identify these forward-looking statements, although not all forward-looking statements contain these words. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties, and assumptions that are difficult or impossible to predict and, in some cases, beyond the Company’s control. Forward-looking statements are not guarantees of future actions or performance. Actual results may differ materially from those in the forward-looking statements because of several factors, including, without limitation, risks and uncertainties related to market conditions, as well as those risks described under “Risk Factors” in the prospectus related to the proposed offering and those described in the Company’s filings with the SEC. The Company undertakes no obligation to revise or update information in this release to reflect events or circumstances in the future, even if new information becomes available.
Company:
Propanc Biopharma, Inc.
James Nathanielsz
+61-3-9882-0780
info@propanc.com
Investor Contact:
irteam@propanc.com
PROPANC BIOPHARMA, INC. AND SUBSIDIARY | ||||||||
CONDENSED CONSOLIDATED BALANCE SHEETS | ||||||||
December 31, | June 30, | |||||||
(Unaudited) | ||||||||
ASSETS | ||||||||
CURRENT ASSETS: | ||||||||
Cash | $ | 561,237 | $ | 12,088 | ||||
GST tax receivable | 16,994 | 5,302 | ||||||
Prepaid expenses - current portion | 7,127,293 | 8,334,046 | ||||||
Other current assets | 1,400 | 1,380 | ||||||
TOTAL CURRENT ASSETS | 7,706,924 | 8,352,816 | ||||||
Deferred offering costs | - | 291,773 | ||||||
Prepaid expenses - long-term portion | 7,347,310 | 10,925,835 | ||||||
Security deposit - related party | 2,000 | 1,971 | ||||||
Operating lease right-of-use assets, net - related party | 50,901 | 59,413 | ||||||
Property and equipment, net | 4,397 | - | ||||||
TOTAL ASSETS | $ | 15,111,532 | $ | 19,631,808 | ||||
LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||
CURRENT LIABILITIES: | ||||||||
Accounts payable | $ | 957,483 | $ | 1,249,596 | ||||
Accrued expenses and other payables | 860,463 | 1,486,550 | ||||||
Accrued interest | 168,152 | 190,795 | ||||||
Loans payable | 65,280 | 65,280 | ||||||
Loans payable - related parties, net of discount | 472,083 | 415,329 | ||||||
Notes payable, net of discount | - | 543,312 | ||||||
Convertible notes, net of discounts and including put premiums | 55,000 | 537,921 | ||||||
Operating lease liability - related party, current portion | 21,604 | 17,664 | ||||||
Warrant liability | 288,635 | - | ||||||
Embedded conversion option liabilities | 32,128 | 403,892 | ||||||
Employee benefit liability | 703,190 | 667,901 | ||||||
TOTAL CURRENT LIABILITIES | 3,624,018 | 5,578,240 | ||||||
NON-CURRENT LIABILITIES: | ||||||||
Loan payable - long-term - related party, net of discount | - | 105,627 | ||||||
Operating lease liability - long-term portion - related party | 35,249 | 41,749 | ||||||
TOTAL NON-CURRENT LIABILITIES | 35,249 | 147,376 | ||||||
TOTAL LIABILITIES | $ | 3,659,267 | $ | 5,725,616 | ||||
Temporary Equity – Convertible Preferred Stock Series C - $0.01 par value, $10,000 stated value, 9,900 shares designated and authorized, 100 (liquidation value of $1,000,000) and none issued and outstanding at December 31, 2025 and June 30, 2025, respectively | $ | 1,000,000 | $ | - | ||||
Commitments and Contingencies (See Note 9) | - | - | ||||||
STOCKHOLDERS’ EQUITY: | ||||||||
Preferred stock, 1,500,005 shares authorized, $0.01 par value: | ||||||||
Series A preferred stock, $0.01 par value; 500,000 shares previously authorized; 0 shares issued and outstanding as of December 31, 2025 and June 30, 2025 | $ | - | $ | - | ||||
Series B preferred stock, $0.01 par value; 5 shares authorized; 1 share issued and outstanding as of December 31, 2025 and June 30, 2025 | - | - | ||||||
Common stock, $0.001 par value; 10,000,000,000 shares authorized; 13,449,688 and 11,611,782 shares issued and outstanding as of December 31, 2025 and June 30, 2025, respectively | 13,450 | 11,612 | ||||||
Common stock issuable (7,750 and 7,750 shares as of December 31, 2025 and June 30, 2025, respectively) | 8 | 8 | ||||||
Additional paid-in capital | 143,640,067 | 138,243,652 | ||||||
Accumulated other comprehensive income | 1,328,115 | 1,318,917 | ||||||
Accumulated deficit | (134,482,898 | ) | (125,621,520 | ) | ||||
Treasury stock ($0.001 share) | (46,477 | ) | (46,477 | ) | ||||
TOTAL STOCKHOLDERS’ EQUITY | 10,452,265 | 13,906,192 | ||||||
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ | 15,111,532 | $ | 19,631,808 | ||||
PROPANC BIOPHARMA, INC. AND SUBSIDIARY | ||||||||||||||||
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) | ||||||||||||||||
(Unaudited) | ||||||||||||||||
For the three months ended | For the six months ended | |||||||||||||||
2025 | 2024 | 2025 | 2024 | |||||||||||||
REVENUE | ||||||||||||||||
Revenue | $ | - | $ | - | $ | - | $ | - | ||||||||
OPERATING EXPENSES | ||||||||||||||||
Administration expenses | 3,628,173 | 153,593 | 8,226,747 | 374,352 | ||||||||||||
Occupancy expenses - related party | 6,600 | 5,401 | 21,389 | 13,718 | ||||||||||||
Research and development | 19,961 | 54,388 | 80,162 | 116,102 | ||||||||||||
TOTAL OPERATING EXPENSES | 3,654,734 | 213,382 | 8,328,298 | 504,172 | ||||||||||||
LOSS FROM OPERATIONS | (3,654,734 | ) | (213,382 | ) | (8,328,298 | ) | (504,172 | ) | ||||||||
OTHER INCOME (EXPENSE) | ||||||||||||||||
Interest expense | (58,955 | ) | (118,943 | ) | (364,604 | ) | (205,173 | ) | ||||||||
Interest income | 37 | - | 56 | 1 | ||||||||||||
Derivative expense | - | (8,559 | ) | - | (35,741 | ) | ||||||||||
Change in fair value of derivative liabilities | 87,728 | 13,581 | 68,022 | 66,368 | ||||||||||||
Change in fair value of warrant liability | 593,710 | - | 593,710 | - | ||||||||||||
Other expense | (54,000 | ) | - | (54,000 | ) | - | ||||||||||
Gain (loss) on extinguishment of debt, net | 14,317 | (18,759 | ) | 210,178 | (30,078 | ) | ||||||||||
Foreign currency transaction gain (loss) | (19,497 | ) | (84,121 | ) | (54,196 | ) | (75,698 | ) | ||||||||
TOTAL OTHER INCOME (EXPENSE), NET | 563,340 | (216,801 | ) | 399,166 | (280,321 | ) | ||||||||||
LOSS BEFORE TAXES | (3,091,394 | ) | (430,183 | ) | (7,929,132 | ) | (784,493 | ) | ||||||||
Tax benefit | - | - | - | - | ||||||||||||
NET LOSS | $ | (3,091,394 | ) | $ | (430,183 | ) | $ | (7,929,132 | ) | $ | (784,493 | ) | ||||
Deemed Dividend | (932,246 | ) | - | (932,246 | ) | - | ||||||||||
NET LOSS AVAILABLE TO COMMON STOCKHOLDERS | $ | (4,023,640 | ) | $ | (430,183 | ) | $ | (8,861,378 | ) | $ | (784,493 | ) | ||||
BASIC AND DILUTED NET LOSS PER SHARE | $ | (0.30 | ) | $ | (32.23 | ) | $ | (0.69 | ) | $ | (67.65 | ) | ||||
BASIC AND DILUTED WEIGHTED AVERAGE SHARES OUTSTANDING | 13,360,358 | 13,347 | 12,848,520 | 11,597 | ||||||||||||
NET LOSS | $ | (4,023,640 | ) | $ | (430,183 | ) | $ | (8,861,378 | ) | $ | (784,493 | ) | ||||
OTHER COMPREHENSIVE INCOME (LOSS) | ||||||||||||||||
Unrealized foreign currency translation gain (loss) | (7,846 | ) | 321,230 | 9,198 | 222,287 | |||||||||||
TOTAL OTHER COMPREHENSIVE INCOME (LOSS) | (7,846 | ) | 321,230 | 9,198 | 222,287 | |||||||||||
TOTAL COMPREHENSIVE LOSS | $ | (4,031,486 | ) | $ | (108,953 | ) | $ | (8,852,180 | ) | $ | (562,206 | ) | ||||
The accompanying unaudited condensed notes are an integral part of these unaudited condensed consolidated financial statements.