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PFSAPROFUSA, INC.

Is Profusa struggling financially?

Yes, by its own account. Profusa told the SEC on 15 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

7/100

Critical

Sector
Biotech/Pharma
Market cap
$3.3M
Source filing
10-Q 15 May 2026
Balance sheet
31 Mar 2026

Cash runway

  • 0months

    If the burn speeds up

    Empty by Mar 2026

  • 1month

    If it eases off

    Empty by May 2026

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

$375K

÷

Cash burned over the last 12 months

$16.3M

What Profusa told the SEC

…upcoming year, funding capacity, net working capital deficit, and future access to capital. As of March 31, 2026, there continues to be factors which raise substantial doubt about the Company’s ability to continue as a going concern within one year from the date the condensed consolidated financial statements are issued. The condensed consolidated financial statements do not contain any adjustments that might…

PROFUSA, INC., Form 10-Q, filed 15 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

  • Debt pressure is material Debt is large against the cash on hand while the business generates little to service it, which puts lenders ahead of shareholders in the queue.

Other Biotech/Pharma companies that filed the doubt