Acasti Pharma reported a Q2 2026 period characterized by meaningful operating spend but no revenue, delivering a net loss of $0.938 million against total operating expenses of $2.529 million. The company maintained a solid liquidity position with cash and cash equivalents of $16.862 million and a net cash position of $16.862 million, underscoring a healthy balance sheet for ongoing R&D and partnership negotiations. Intangible assets ($41.128 million) and goodwill ($8.138 million) comprise a substantial portion of total assets ($66.576 million), reflecting a pipeline-centric business model with an emphasis on CaPre and broader cardiovascular initiatives. Despite the lack of topline revenue, the company’s EPS stood at -0.06 for the quarter, and net income showed a YoY and QoQ deterioration in absolute terms while remaining a relatively small loss on a quarterly basis.
Strategically, Acasti continues to pursue strategic partnerships and licensing arrangements for CaPre. The absence of revenue in QQ2 2026 means the company remains dependent on external financing or milestone-driven partnership economics to achieve profitability. The cash runway, inferred from approximately $2.53 million of quarterly operating expenses and a cash balance near $16.9 million, suggests roughly 6–7 quarters of liquidity under current spend levels, barring any material changes in operating costs or new funding. Looking ahead, the near-term catalysts hinge on partnership progress, potential milestone inflows, and any clinical or regulatory milestones that could unlock value from the CaPre program. Overall, the setup remains high-risk, high-reward, with the upside tied to successful partner onboarding and monetization of CaPre.