MELBOURNE, Australia, May 15, 2026 (GLOBE NEWSWIRE) -- Propanc Biopharma, Inc. (Nasdaq: PPCB) (“Propanc” or the “Company”), a biopharmaceutical company focused on developing novel treatments for chronic diseases, including recurrent and metastatic cancer, today announced an update on corporate progress and reported third quarter financial results as of March 31, 2026 (Year end June 30).
Corporate and R&D Highlights
Executes Service Agreement with FyoniBio GmbH to Establish & Validate Pharmacokinetics Assay for Phase 1b First-In-Human Study
“Additionally, our multi-year research agreement with the Universities of Jaén and Granada will continue to support, strengthen and grow our intellectual…”Management has executed a service agreement with FyoniBio GmbH (formerly Glycotope, est. 2010), a German Contract Development Organization (CDO) based in Berlin for establishing and validating a liquid chromatography-mass spectrometry (LC-MS) based pharmacokinetics (PK) assay. The objective is to quantify the Company’s lead asset, PRP, consisting of two proenzymes trypsinogen and chymotrypsinogen, as well as their activated enzyme forms trypsin and chymotrypsin from human serum during the Phase 1b, First-In-Human (FIH) study in advanced cancer patients suffering from solid tumors.
Executes Multi-Yr, Anti-Aging & Cancer Research Collaboration with the Universities of Jaén and Granada, Spain
A multi-year Joint Research Collaboration Agreement has been established with the Universities of Jaén (UJA) and Granada (UGR), Spain. The collaboration involves the evaluation of a senescence-modulating (i.e., anti-aging) compound to mitigate senescence and to complete experiments to further support the claims of recently filed fibrosis and cancer related patent applications, requested by Propanc Biopharma Inc. to the research group “Biological Technologies of The University of Jaén” and UGR’s Research Group, “Advanced Therapies: Differentiation, Regeneration and Cancer.”
Corporate and Financial Updates
Propanc entered into a private placement agreement for up to $100 million to accelerate clinical development. The Company received an initial $1,000,000 investment upon issuance of 100 shares of Series C Convertible Preferred Stock. As of March 31st, a further $1,000,000 investment was received upon exercise of 100 shares of Series C Convertible Preferred Stock.
Q3 Financial Summary (Quarter Ended March 31, 2026)
- Total assets: $14.33 million
- Total liabilities reduced by $2.10 million
- Convertible notes reduced to $55,000 (from $538,000)
- Net cash from financing activities: $4.47 million
- Quarter-end cash: $443,702
- $0.5 million tranche from the Series C facility subsequently received
The Company expects the financing facility to continually support planned R&D activities, including advancement of PRP and Rec-PRP.
Management Commentary
“We are entering a pivotal phase of development for the Company’s lead asset, PRP, which is progressing to a world first, Phase 1b, First-In-Human study, in 30 – 40 advanced cancer patients suffering from solid tumors. Execution of an agreement with Fyoni Bio will facilitate method development and validation of the pharmacokinetics method in preparation for the pivotal clinical study. In addition, management is engaging with CDMOs (Contract Development and Manufacturing Organizations) for the GMP manufacture of PRP for supply of the finished drug product, CROs (Clinical Research Organizations) to discuss management of future clinical trial operations, as well as preparing regulatory documentation for the Clinical Trial Application targeting submission later this year,” said Mr. James Nathanielsz, Propanc’s Chief Executive Officer. “Additionally, our multi-year research agreement with the Universities of Jaén and Granada will continue to support, strengthen and grow our intellectual property around the use of proenzymes not just in cancer, but also focusing on cell rejuvenation to overcome age-related, chronic diseases, such as fibrosis. I am confident we are on the right path to execute a rapid transformation of our Company to clinical stage for a range of incurable diseases which can offer renewed hope for patients.”
About Propanc Biopharma, Inc.
Propanc Biopharma, Inc. (Nasdaq: PPCB) is developing a novel approach to preventing cancer recurrence and metastasis by targeting and eradicating cancer stem cells through proenzyme activation. The Company’s lead product candidate, PRP, is designed to address the underlying drivers of cancer proliferation and spread.
More information: www.propanc.com
Forward-Looking Statements
All statements in this press release that are not historical are forward-looking statements, including, among other things, statements relating to the Company’s expectations regarding its market position and market opportunity, expectations and plans as to its product development, manufacturing and sales, and relations with its partners and investors, made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are not historical facts but rather are based on the Company’s current expectations, estimates, and projections regarding its business, operations and other similar or related factors. Words such as “may,” “will,” “could,” “would,” “should,” “anticipate,” “predict,” “potential,” “continue,” “expect,” “intend,” “plan,” “project,” “believe,” “estimate,” and other similar or related expressions are used to identify these forward-looking statements, although not all forward-looking statements contain these words. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties, and assumptions that are difficult or impossible to predict and, in some cases, beyond the Company’s control. Forward-looking statements are not guarantees of future actions or performance. Actual results may differ materially from those in the forward-looking statements because of several factors, including, without limitation, risks and uncertainties related to market conditions, as well as those risks described under “Risk Factors” in the prospectus related to the proposed offering and those described in the Company’s filings with the SEC. The Company undertakes no obligation to revise or update information in this release to reflect events or circumstances in the future, even if new information becomes available.
Company:
Propanc Biopharma, Inc.
James Nathanielsz
+61-3-9882-0780
[email protected]
Investor Contact:
[email protected]
June 30, 2025
(Unaudited)
ASSETS CURRENT ASSETS:
Cash$443,702 $12,088 GST tax receivable 11,057 5,302 Prepaid expenses - current portion 7,733,625 8,334,046 Other current assets 35,104 1,380 TOTAL CURRENT ASSETS 8,223,488 8,352,816 Deferred offering costs - 291,773 Prepaid expenses - long-term portion 6,057,422 10,925,835 Security deposit - related party 2,065 1,971 Operating lease right-of-use assets, net - related party 46,584 59,413 Property and equipment, net 4,221 - TOTAL ASSETS$14,333,780 $19,631,808 LIABILITIES AND STOCKHOLDERS’ EQUITY CURRENT LIABILITIES:
Accounts payable$973,692 $1,249,596 Accrued expenses and other payables 942,376 1,486,550 Accrued interest 123,181 190,795 Loans payable - 65,280 Loans payable - related parties, net of discount 465,282 415,329 Notes payable, net of discount - 543,312 Convertible notes, net of discounts and including put premiums 55,000 537,921 Operating lease liability - related party, current portion 23,324 17,664 Warrant liability 104,313 - Embedded conversion option liabilities 50,273 403,892 Employee benefit liability 738,187 667,901 TOTAL CURRENT LIABILITIES 3,475,628 5,578,240 NON-CURRENT LIABILITIES:
Loan payable - long-term - related party, net of discount - 105,627 Operating lease liability - long-term portion - related party 30,267 41,749 TOTAL NON-CURRENT LIABILITIES 30,267 147,376 TOTAL LIABILITIES$3,505,895 $5,725,616 Temporary Equity – Convertible Preferred Stock Series C - $0.01 par value, $10,000 stated value, 9,900 shares designated and authorized, 100 (liquidation value of $1,000,000) and none issued and outstanding at March 31, 2026 and June 30, 2025, respectively$1,000,000 $- Commitments and Contingencies (See Note 9)
STOCKHOLDERS’ EQUITY:
Preferred stock, 1,500,005 shares authorized, $0.01 par value:
Series A preferred stock, $0.01 par value; 500,000 shares previously authorized; 0 shares issued and outstanding as of March 31, 2026 and June 30, 2025$- $- Series B preferred stock, $0.01 par value; 5 shares authorized; 1 share issued and outstanding as of March 31, 2026 and June 30, 2025 - - Common stock, $0.001 par value; 10,000,000,000 shares authorized; 21,859,281 and 11,611,782 shares issued and outstanding as of March 31, 2026 and June 30, 2025, respectively 21,860 11,612 Common stock issuable (33,007,750 and 7,750 shares as of March 31, 2026 and June 30, 2025, respectively) 33,008 8 Additional paid-in capital 149,427,962 138,243,652 Accumulated other comprehensive income 1,234,766 1,318,917 Accumulated deficit (140,843,234) (125,621,520)Treasury stock ($0.001 share) (46,477) (46,477) TOTAL STOCKHOLDERS’ EQUITY 9,827,885 13,906,192 TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY$14,333,780 $19,631,808
ended March 31,
For the nine months
ended March 31,
2026
2025
2026
2025
REVENUE
Revenue$- $- $- $- OPERATING EXPENSES
Administration expenses (including noncash compensation expense of $11,581,251 and $52,853,115 for the nine months ended March 31, 2026 and 2025, respectively, and $5,351,136 and $52,838,115 for the three months ended March 31, 2026 and 2025, respectively. 6,219,644 53,068,147 14,446,391 53,442,499 Occupancy expenses - related party 10,917 6,469 32,306 20,187 Research and development 169,660 54,097 249,822 170,199 TOTAL OPERATING EXPENSES 6,400,221 53,128,713 14,728,519 53,632,885 LOSS FROM OPERATIONS (6,400,221) (53,128,713) (14,728,519) (53,632,885) OTHER INCOME (EXPENSE)
Interest expense (38,270) (104,042) (402,874) (309,215)Interest income 13 1 69 2 Derivative expense - (59,271) - (95,012)Change in fair value of derivative liabilities (18,146) 47,119 49,876 113,487 Change in fair value of warrant liability 182,517 - 776,227 - Other expense 43,000 - (11,000) - Settlement expense (90,000) - (90,000) - Gain (loss) on extinguishment of debt, net (74,235) (809,954) 135,943 (840,032)Foreign currency transaction gain (loss) 35,006 (12,486) (19,190) (88,184)TOTAL OTHER INCOME (EXPENSE), NET 39,885 (938,633) 439,051 (1,218,954) LOSS BEFORE TAXES (6,360,336) (54,067,346) (14,289,468) (54,851,839) Tax benefit - - - - NET LOSS$(6,360,336) $(54,067,346) $(14,289,468) $(54,851,839) Deemed Dividend - - (932,246) - NET LOSS AVAILABLE TO COMMON STOCKHOLDERS$(6,360,336) $(54,067,346) $(15,221,714) $(54,851,839) BASIC AND DILUTED NET LOSS PER SHARE$(0.28) $(12.50) $(0.95) $(38.62) BASIC AND DILUTED WEIGHTED AVERAGE SHARES OUTSTANDING 22,427,486 4,325,994 15,973,535 1,420,307 NET LOSS$(6,360,336) $(54,067,346) $(15,221,714) $(54,851,839) OTHER COMPREHENSIVE INCOME (LOSS)
Unrealized foreign currency translation gain (loss) (93,349) (27,311) (84,151) 194,976 TOTAL OTHER COMPREHENSIVE INCOME (LOSS) (93,349) (27,311) (84,151) 194,976 TOTAL COMPREHENSIVE LOSS$(6,453,685) $(54,094,657) $(15,305,865) $(54,656,863)