PolyPid Narrows Quarterly Loss to $5.8 Million, Reports $15.5 Million Cash Balance

Petach Tikva-based PolyPid reported a third-quarter net loss of $5.8 million on November 11, compared with $7.5 million a year earlier. The Israeli biopharmaceutical company said it held $15.5 million in cash, cash equivalents and short-term deposits at September 30, up from $12.9 million at the end of 2025. Research and development expenses rose to $6.5 million from $5.3 million, primarily because of drug-application work and preparations for commercialization. General and administrative expenses fell to $1.5 million from $1.8 million. PolyPid also recognized $2.5 million in previously deferred revenue following the September 30 termination of its ADVANZ agreement. Its net loss for the first nine months narrowed to $21.3 million from $25.7 million. PolyPid said it had received $30 million under its agreement with Azurity: $15 million at signing in July and another $15 million after quarter-end following FDA acceptance of its application. The company said its current cash, expected agreement proceeds and potential future proceeds could fund operations into 2028. The company said its D-PLEX₁₀₀ application to prevent surgical-site infections in colorectal-surgery patients remained under FDA priority review, with a November 28 decision goal date. Subject to approval, PolyPid and Azurity are preparing for a possible U.S. launch in early 2027.