PolyPid Ltd. provided a corporate update and reported financial results for the second quarter and six months ended June 30, 2025, on August 13, 2025. The company highlighted the positive Phase 3 SHIELD II trial results, where D-PLEX100 successfully met its primary efficacy endpoint and demonstrated a 58% reduction in surgical site infections (SSI).
Research and development (R&D) expenses increased to $6.2 million in Q2 2025, up from $4.8 million in Q2 2024, driven by the completion of the SHIELD II trial and regulatory preparations. For the six months ended June 30, 2025, R&D expenses were $12.3 million, compared to $9.8 million for the same period in 2024. General and administrative (G&A) expenses reached $2.5 million in Q2 2025, largely due to non-cash expenses related to performance-based options that vested after the SHIELD II trial.
Marketing and business development expenses were $0.7 million in Q2 2025, reflecting intensified commercial preparation activities. The company's balance sheet was significantly strengthened by a successful warrant exercise, resulting in cash and cash equivalents of $17.4 million and short-term deposits of $12 million, totaling $29.5 million as of June 30, 2025, an increase from $15.6 million as of December 31, 2024.
PolyPid expects to submit its New Drug Application (NDA) for D-PLEX100 in Q1 2026. The company also unveiled its long-acting GLP-1 Receptor Agonists Delivery Platform, targeting the obesity and diabetes market, further diversifying its innovative pipeline. The strengthened balance sheet provides a cash runway well into 2026.
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