Kane Biotech Q2 Net Loss Expands; Revenue Declines
(RTTNews) - Kane Biotech Inc. (KNE.V), which develops wound care treatments, announced financial results for the second quarter of 2026, reflecting a wider net loss and revenue decline as the company continues its transition toward a human wound care-focused business.
The company's Revyve product line addresses both biofilms and wound bacteria. Revyve Antimicrobial Wound Gel, Revyve Antimicrobial Wound Gel Spray and Revyve Antimicrobial Skin and Wound Cleanser are all U.S. FDA 510(k) cleared.
For the second quarter, Kane Biotech's net loss widened to $0.83 million from $0.35 million in the prior year, primarily due to higher operating expenses.
Total operating expenses increased to $0.79 million from $0.23 million a year ago.
Total revenue slipped to $ 8,143 from $27,997 in the prior year. Revenue in the second quarter of 2026 reflected the company's early-stage commercialisation of its Revive product line, the company said.
Revenue in the prior-year period consisted entirely of sales from legacy animal health operations and the DermaKB product line, both of which the company has since exited as part of its strategic transition to a focused human wound care business.
As of June 30, the company had a cash balance of $0.85 million.
"During the second quarter and subsequent to quarter-end, Kane continued to advance its transition into a focused human wound care commercialisation company," said Dr Robert Huizinga, Interim CEO.
KNE.V has traded between C$0.02 and C$0.05 over the last year. The stock closed Thursday's trade at C$0.02.
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