Rakovina Therapeutics Announces Q2 2026 Financial Results and Provides Corporate Update
All dollar amounts reflected in Canadian dollars unless otherwise stated.
VANCOUVER, British Columbia, Aug. 31, 2026 (GLOBE NEWSWIRE) -- Rakovina Therapeutics Inc. (TSX-V: RKV) (FSE: 7JO0), a biopharmaceutical company advancing innovative cancer therapies through AI-powered drug discovery, today announced its financial results for the three and six months ended June 30, 2026 (“Q2 2026” and “YTD 2026”, respectively), and provided an update on recent corporate developments.
Q2 2026 Financial Highlights
- Research and development (R&D) expenses of $1,130,259 for Q2 2026 and $2,161,815 YTD 2026, compared to $1,611,985 in the same period in 2025, reflecting lower contract research and consulting costs partially offset by increased chemistry and AI research activity.
- General and administrative (G&A) expenses of $450,695 for Q2 2026, a decrease of approximately 63% from $1,213,489 in Q2 2025.
- Net loss of $1,727,748 for Q2 2026, compared to $2,916,944 in Q2 2025, a reduction of approximately 41%.
- Cash and cash equivalents of $200,115 and a working capital deficit of $2,129,848 as at June 30, 2026, compared to $298,758 and $2,149,223 respectively at December 31, 2025.
“In Q2 2026, we reduced G&A by more than 60% year-over-year for a second consecutive quarter, such that 72% of our budget was focused on AI-powered drug discovery compared to 57% in Q2 2025. Our focus for the balance of 2026 is advancing our three AI-powered drug discovery programs, enhancing relationships with our AI collaborators and securing non-dilutive financing from industry and government sources,” said Kim Oishi, Chief Executive Officer of Rakovina Therapeutics.
Recent Corporate Highlights & Subsequent Events
- Subsequent to the date of the financial statements, the Company closed on the second and final tranche of the upsized non-brokered private placement (the “NBPP”) for total gross proceeds of $1,991,000, subject to the final acceptance of the TSX-V.
- On August 19, 2026, the Company announced the results of its annual general meeting. Shareholders elected five directors and re-appointed Davidson & Company LLP as auditor. Dr. Petra Hamerlik joined the Board of Directors, and Jeffrey Bacha retired as a director and will continue in an advisory capacity.
- On August 12, 2026, the Company closed the first tranche of its non-brokered private placement (the “NBPP”) for gross proceeds of $1,394,000 and increased the maximum offering from $1,500,000 to $2,000,000.
- On April 22, 2026, the Company presented two preclinical posters at the American Association for Cancer Research (AACR) Annual Meeting: kt-5000 series (dual ATR-mTOR inhibitor) data demonstrating anti-tumor activity, selectivity, measurable CNS penetration, and tumor growth inhibition with improved tolerability relative to reference ATR inhibitors; and initial formulation data for kt-3283 (dual PARP/HDAC inhibitor) demonstrating successful development of a lipid nanoparticle (LNP) formulation.
Rakovina Therapeutics’ financial statements as filed with SEDAR+ can be accessed from the Company’s website at: https://www.rakovinatherapeutics.com/corporate-profile/
About Rakovina Therapeutics Inc.
Rakovina Therapeutics is a biopharmaceutical research company focused on the development of innovative cancer treatments. Our work is based on unique technologies for targeting the DNA-damage response powered by Artificial Intelligence (AI) using validated, proprietary platforms. By using AI, we can review and optimize drug candidates at a much greater pace than ever before.
The Company has established a pipeline of distinctive DNA-damage response inhibitors with the goal of advancing one or more drug candidates into human clinical trials in collaboration with pharmaceutical partners. Further information may be found at www.rakovinatherapeutics.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Notice Regarding Rakovina Therapeutics Forward-Looking Statements:
This release includes forward-looking statements regarding the Company and its respective business, which may include, but is not limited to, statements with respect to the proposed business plan of the Company and other statements. Often, but not always, forward-looking statements can be identified by the use of words such as “plans,” “is expected,” “expects,” “scheduled,” “intends,” “contemplates,” “anticipates,” “believes,” “proposes” or variations (including negative variations) of such words and phrases, or state that certain actions, events, or results “may,” “could,” “would,” “might,” or “will” be taken, occur, or be achieved. Such statements are based on the current expectations of the management of the Company. The forward-looking events and circumstances discussed in this release may not occur by certain specified dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting the Company, including risks regarding the biopharmaceutical industry, economic factors, regulatory factors, the equity markets generally, and risks associated with growth and competition.
Although the Company has attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events, or results to differ from those anticipated, estimated, or intended. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise. The reader is referred to the Company’s most recent filings on SEDAR+ for a more complete discussion of all applicable risk factors and their potential effects, copies of which may be accessed through the Company’s profile page at www.sedarplus.ca.
For Further Information Contact:
Investor Relations
Rakovina Therapeutics Inc.
IR@rakovinatherapeutics.com
© 2026 GlobeNewswire, Inc. All Rights Reserved.
