secwatch.observer — SEC 8-K summary
======================================

Issuer:     Valion Bio, Inc. (VBIO)
CIK:        0001787740
Form:       8-K
Filed at:   2026-03-25T23:59:59+00:00
Accession:  0001437749-26-009789
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Tivic reports FY2025 net loss $8.8M-$9.1M; pivots to immunotherapy with Entolimod
--------------------------------------------------------------------------------

- Operating expenses $7.9M in 2025 vs $4.5M in 2024; net loss before disc. ops $7.9M-$8.1M.
- Cash $12.6M at Dec 31, 2025 vs $2.0M at prior year-end; working capital $12.4M.
- Acquired global rights to Entolimod for acute radiation syndrome; discontinued ClearUP/VNS.
- CEO Michael K. Handley appointed March 2026, succeeding Jennifer Ernst.
- Engaged with BARDA, DTRA, NIH, NIAID for potential Entolimod funding or procurement.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1787740/000143774926009789/0001437749-26-009789-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1787740/000143774926009789/tivc20251119_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-26-009789

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer