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Full NXGL fundamentals All 466 on the Survival Watch

NXGLNexGel, Inc.

Is NexGel struggling financially?

Yes, by its own account. NexGel told the SEC on 14 May 2026, in Form 10-Q, that there is substantial doubt about its ability to continue as a going concern.

Going concern disclosed May 2026

30/100

Fragile

Sector
Biotech/Pharma
Market cap
$3.2M
Source filing
10-Q 14 May 2026
Balance sheet
31 Mar 2026

Cash runway

  • 8months

    If the burn speeds up

    Empty by Dec 2026

  • 11months

    If it eases off

    Empty by Mar 2027

Both rows are the same reported burn flexed 15% either way, and neither assumes the company raises a cent.

Out of cashTwo years or more

The runway math

Cash and short-term investments

$2.1M

÷

Cash burned over the last 12 months

$2.7M

What NexGel told the SEC

March 31, 2026, the Company incurred a net loss of $ 927 thousand and had a net usage of cash in operating activities of $ 504 thousand. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. In April of 2026, the Company raised $ 7.0 million to be used for the Celularity Transaction. We expect this acquired business to contribute positive operating cash flows, improve…

NexGel, Inc., Form 10-Q, filed 14 May 2026.

Read the filing on SEC.gov

What this means

  • Not a bankruptcy filing, and not a prediction.
  • It is the company’s own statement, agreed with its auditor, that the doubt is material enough to disclose.
  • The runway is arithmetic on two reported numbers, not a forecast. Companies carry this language for years, raise money and keep going.

What else the numbers show

  • Cash burn is narrowing It is spending 61% less cash per year than it was, so the runway above is lengthening rather than shortening.

Other Biotech/Pharma companies that filed the doubt