Kane Biotech Announces Fourth Quarter and Full-Year 2025 Results

Kane Biotech Inc. announced its fourth quarter and full-year financial results for the year ended December 31, 2025. Total revenue for 2025 was $427,869, down from $2,080,879 in 2024, and the company reported a net loss from continuing operations of $2,721,239. Cash on hand at year-end was $901,698, and the company’s financial statements and Management Discussion & Analysis are available on SEDAR+ and its investor relations site.

The decline in full-year revenue reflects the company’s restructuring and disposition of certain animal health activities; revenues in both periods were primarily animal health related. Gross profit (loss) for 2025 was reported as $(640), compared with a gross profit of $872,096 in 2024. Management noted that the current-year gross profit was affected by one-time sales and cost-of-sales adjustments tied to discontinued contract manufacturing operations in the animal health segment.

In the fourth quarter, revenue reflected a reversal of $21,140 versus $125,859 in Q4 2024, producing a quarterly gross profit of $7,567 and a net loss of $546,856. Operating expenses fell materially year-over-year to $2,653,208 from $4,795,093, with reductions in employee salaries, long-term incentive expenses, consulting, patent write-downs and product development costs contributing to the improvement.

To support its balance sheet and execution, Kane completed several financings in 2025: a private placement in February raising gross proceeds of $1.7 million (including $370,000 from insiders), a May private placement with insiders for $1.2 million plus a $1.0 million unsecured insider loan, and a June conversion of that loan into a five-year unsecured convertible debenture bearing interest at 3% per annum. The company has also adjusted its U.S. commercial approach by moving away from a single exclusive distributor toward a multi-channel distribution model.

Operationally, the company is prioritizing commercialization of its revyve product line in Canada and the United States; Health Canada approved revyve Antimicrobial Wound Gel Spray in December 2025. Key near-term indicators for investors will be execution of distribution agreements, early sales traction for revyve, and continued cost discipline to moderate cash burn. Management signals that the combination of reduced operating expenses and expanding distribution is intended to position the company for revenue recovery over the coming periods.