SEC Filing Document

Company: BIOVENTRIX, INC.
Ticker: 
CIK: 1283259
Filing Type: S-1/A
Document Type: S-1/A
Date Filed: 2026-05-15
Accession Number: 0001493152-26-023752
Exchange: 
SIC Code: 3841
SIC Description: Surgical & Medical Instruments & Apparatus
URL: https://www.sec.gov/Archives/edgar/data/1283259/000149315226023752/forms-1a.htm

Chunk 7 of 94
Word Count: 1285
Character Count: 8360

Document Content:

no exercise by the underwriters of their over-allotment option and (ii) no exercise of the outstanding stock options described above. SUMMARY OF CONSOLIDATED FINANCIAL INFORMATION The following tables set forth summary financial and other data for the periods ended and at the dates indicated below. Our summary financial information for the three months ended March 31, 2026 and 2025 and as of March 31, 2026 and 2025 has been derived from our unaudited interim condensed financial statements included elsewhere in this prospectus. Our summary financial information for the years ended December 31, 2025 and 2024 and as of December 31, 2025 and 2024 has been derived from our audited financial statements included in this prospectus. The financial data set forth below should be read in conjunction with “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and the financial statements and notes thereto included elsewhere in this prospectus.

For the Three Months Ended
March 31, 2026 For the Three Months Ended
March 31, 2025

Statement of Operations Data:

Gross (loss) profit $	- $	-

Operating expense 2,685,921 1,575,868

Operating loss (2,695,921	) (1,575,868	)

Other expenses (income) 570,878 190,285

Net loss before taxes (3,256,799	) (1,266,153	)

Income tax expense (benefit) - -

Net loss (3,256,799	) (1,266,153	)

Net loss per share of common stock:

Basic $	(0.57	) $	(0.22	)

Weighted-average shares of common stock outstanding:

Basic 5,723,895 5,654,892

For
the Year Ended December
31, 2025 For
the Year Ended December

Statement
of Operations Data:

Gross
(loss) profit $	- $	-

Operating
expense 6,270,430 3,562,516

Operating
loss (6,270,430	) (3,562,516	)

Other
expenses (income) 1,397,241 288,158

Net
loss before taxes (7,667,671	) (3,850,674	)

Income
tax expense (benefit) - -

Net
loss (7,667,671	) (3,850,674	)

Net
loss per share of common stock:

Basic $	(1.35	) $	(0.72	)

Weighted-average
shares of common stock outstanding:

Basic 5,696,603 5,355,663

Balance
Sheet

of March 31, 2026 As
of March 31, 2025

Balance
Sheet Data:

Cash $	924,026 $	2,161,390

Working
capital (deficit) $	(14,609,099	) $	(6,299,438	)

Total
assets $	1,521,661 $	2,949,286

Total
liabilities $	17,293,983 $	9,183,118

Additional
paid-in capital $	218,725,118 $	218,580,017

Accumulated
deficit $	(234,498,143	) $	(224,839,826	)

Total
stockholders’ deficiency $	(15,772,322	) $	(6,259,085	)

December
December

Balance
Sheet Data:

Cash $	1,838,121 $	2,637,635

Working
capital (deficit) $	(11,592,497	) $	(4,989,308	)

Total
assets $	2,568,861 $	3,279,249

Total
liabilities $	15,134,042 $	8,318,384

Additional
paid-in capital $	218,675,435 $	218,533,820

Accumulated
deficit $	(231,241,344	) $	(223,573,673	)

Total
stockholders’ deficiency $	(12,565,181	) $	(5,039,135	)

RISK
FACTORS

investment in our common stock is speculative and involves a high degree of risk. You should carefully consider the risks
described below, which we believe represent certain of the material risks to our business, together with the information contained elsewhere
in this prospectus, before you make a decision to invest in our shares of common stock. Please note that the risks highlighted here are
not the only ones that we may face. For example, additional risks presently unknown to us or that we currently consider immaterial or
unlikely to occur could also impair our operations. If any of the following events occur or any additional risks presently unknown to
us actually occur, our business, financial condition and operating results may be materially adversely affected. In that event, the trading
price of our securities could decline and you could lose all or part of your investment.

Risks
Related to Our Industry and Business

have a history of net losses, and we expect to continue to incur losses for the foreseeable future. If we ever generate revenue or achieve
profitability (of which no assurances can be given), we may not be able to sustain it.

have incurred significant losses since our inception and expect to continue to incur losses for the foreseeable future. We have reported
net losses of approximately $1.2 million and $3.3 million for the three months ended March 31, 2025
and 2026, respectively. As a result of these losses, as of March 31, 2026, we had an accumulated deficit of approximately
$234.4 million. To date, we have financed our operations primarily through debt and equity financings. We expect to continue to
incur significant research and development, regulatory, sales and marketing and other expenses as we expand our marketing efforts to
increase adoption of our product candidates, expand existing relationships with our customers, obtain regulatory clearances or approvals
for our planned or future product candidates, conduct clinical trials on our existing and planned or future product candidates and develop
new product candidates or add new features to our existing product candidates. In addition, we expect our general and administrative
expenses to increase following this offering due to the additional costs associated with being a public company. The net losses that
we incur may fluctuate significantly from period to period. We will need to generate significant revenue in order to achieve and sustain
profitability. Even if we ever generate revenue or achieve profitability (of which no assurances can be given), we cannot be sure that
such revenues will continue or that we will remain profitable for any substantial period of time.

will require substantial additional capital to finance our planned operations, which may not be available to us on acceptable terms or
at all. Our failure to obtain additional financing when needed on acceptable terms, or at all, could force us to delay, limit, reduce
or eliminate our product development programs, commercialization efforts or other operations.

Since
inception, we have incurred significant net losses and expect to continue to incur net losses for the foreseeable future. Since our inception,
our operations have been financed primarily by net proceeds from the sale of our equity and debt securities. We have ongoing clinical
trials, and expect to continue to make substantial investments in these trials and in additional clinical trials that are designed to
provide clinical evidence of the safety and efficacy of our product candidates, which would ultimately be determined by the FDA.
We intend to continue to make significant investments in our sales and marketing organization by increasing the number of U.S. sales
representatives and expanding our international marketing programs to help facilitate further adoption among existing hospital accounts
as well as broaden awareness of our product candidates to new hospitals. We also expect to continue to make investments in research and
development, regulatory affairs and clinical studies to develop future generations of our product candidates, support regulatory submissions
and demonstrate the clinical efficacy of our product candidates. Moreover, we expect to incur additional expenses associated with operating
as a public company, including legal, accounting, insurance, exchange listing and SEC compliance, investor relations and other expenses.
Because of these and other factors, we expect to continue to incur substantial net losses and negative cash flows from operations for
the foreseeable future. Our future capital requirements will depend on many factors, including:

●	the
cost, timing and results of our clinical trials and regulatory reviews;

●	the
cost and timing of establishing sales, marketing and distribution capabilities;

●	the
terms and timing of any other collaborative, licensing and other arrangements that we may establish;

●	the
timing, receipt and amount of sales from our current and potential product candidates;

●	the
degree of success we experience in commercializing our product candidates;

●	the
emergence of competing or complementary technologies;

●	the
cost of preparing, filing, prosecuting, maintaining, defending and enforcing any patent claims and other intellectual property rights;
and

●	the
extent to which we acquire or invest in businesses, product candidates or technologies, although we currently have no commitments
or agreements relating to any of these types of transactions.