Fiscal 2026 Annual Report, filed July 2, 2026, reflects cash of $6.4 million, total assets of $8.3 million and shareholders' equity attributable to ordinary shareholders of $7.3 million
Fosun Diagnostics agreement, announced July 9, 2026, supports commercial execution for ImmuneSelect across six Southeast Asian markets
Preferred investment option exercise, completed July 10, 2026, generated approximately $3.3 million in gross proceeds, further strengthening the Company's liquidity position and balance sheet
Nasdaq confirmed on July 13, 2026, that the Company regained compliance with the minimum bid price requirement
LONDON, July 16, 2026 /PRNewswire/ -- Virax Biolabs Group Limited (NASDAQ: VRAX) ("Virax" or the "Company"), a biotechnology company focused on immune response detection, T cell immune profiling and in vitro diagnostic technologies, today published a shareholder update from Chief Executive Officer James Foster providing context on the Company's fiscal 2026 Annual Report and subsequent commercial, financing and Nasdaq compliance developments.
The Annual Report provides audited financial statements for fiscal year 2026, updates shareholders on the Company's strategic focus, and reflects the Company's recently completed 1-for-25 share consolidation. The full Annual Report is available on the U.S. Securities and Exchange Commission's website and on the Company's investor relations website at https://ir.viraxbiolabs.com/sec-filings/annual-reports.
Highlights:
Audited balance sheet position: As of March 31, 2026, Virax reported cash of $6.4 million, total assets of $8.3 million, total liabilities of $1.0 million, current assets of $6.8 million and current liabilities of $0.7 million.
Subsequent financing update: Subsequent to fiscal year end, the Company completed the exercise of preferred investment options for gross proceeds of approximately $3.3 million, further strengthening the Company's liquidity position and balance sheet.
Commercial progress: Subsequent to fiscal year end, Virax announced a multi-country commercial supply agreement with Fosun Diagnostics for ImmuneSelect across six Southeast Asian markets, supporting near-term commercial supply, evaluation activity and potential regional expansion.
Disciplined investment: Research and development expenses increased to $3.7 million in fiscal 2026 from $2.0 million in fiscal 2025, while general and administrative expenses decreased to $2.7 million from $4.0 million and net loss decreased to $5.0 million from $6.1 million.
Nasdaq compliance: Following the Company's 1-for-25 share consolidation, Nasdaq confirmed that Virax had regained compliance with the minimum bid price requirement under Nasdaq Marketplace Rule 5550(a)(2).
Valuation backdrop: Based on the closing price of $3.74 on July 14, 2026, Virax's public market valuation remained below its audited cash balance and shareholders' equity attributable to ordinary shareholders, notwithstanding the subsequent financing and recent commercial progress. Management believes the current public valuation does not fully reflect the Company's audited financial position, clinical and development programs, commercial progress or strategic assets.