MELBOURNE, Australia, Nov. 17, 2025 (GLOBE NEWSWIRE) -- Propanc Biopharma, Inc. (Nasdaq: PPCB) (“Propanc” or the “Company”), a biopharmaceutical company developing novel treatments for recurrent and metastatic cancer, today announced an update on corporate progress and reported financial results for the first quarter ended September 30, 2025 (Year end June 30).
Corporate and R&D Highlights
Advancing PRP Toward Phase 1b First-in-Human Trial (2026)
Propanc continues to advance its lead candidate, PRP, toward a world-first Phase 1b clinical study in 30–40 patients with advanced solid tumors at the Peter Mac Cancer Center in Melbourne. GMP manufacturing scale-up, analytical method validation, and preparation of the Investigator’s Brochure and Clinical Trial Application are underway. Purification processes have been successfully scaled, delivering >95% purity to pharmaceutical standards. Two related patents are in drafting.
Progressing Rec-PRP Synthetic Program
Rec-PRP, a fully synthetic recombinant version of PRP designed for improved stability and global scalability, is undergoing biological validation against the bovine-derived formulation. Supporting research has identified methods enabling large-scale production, with patent drafting in progress. Rec-PRP will enter formal preclinical development following potency evaluation.
POP1 Joint Research Program Extension
Propanc is negotiating a 12-month extension with the Universities of Jaén and Granada to expand the POP1 research program. Recent findings show PRP significantly reduces tumorigenicity in Gemcitabine-resistant pancreatic cancer and modulates malignant cells toward a less aggressive phenotype. Additional patents are being prepared based on these results.
Corporate and Financial Updates
Nasdaq Listing & Public Offering
The Company closed an underwritten public offering of 1,000,000 shares at $4.00 per share, raising gross proceeds of $4 million. Propanc’s common stock began trading on the Nasdaq Capital Market on August 15.
$100 Million Private Placement Facility
Propanc entered into a private placement agreement for up to $100 million to accelerate clinical development. The Company received an initial $1 million investment upon issuance of 100 shares of Series C Convertible Preferred Stock.
Q1 Financial Summary (Quarter Ended September 30, 2025)
- Total current assets: $17 million
- Total current liabilities reduced by $2 million
- Net cash from financing activities: $2.53 million
- Quarter-end cash: $600,000
- $1 million initial tranche from the Series C facility subsequently received
The Company expects the financing facility to support planned R&D activities, including advancement of PRP and Rec-PRP.
Management Commentary
“Our first quarter delivered meaningful progress across clinical, financial, and strategic initiatives,” said James Nathanielsz, CEO of Propanc. “We are focused on initiating the Phase 1b PRP clinical trial, advancing Rec-PRP into preclinical development, and expanding our IP portfolio. With our recent Nasdaq uplisting and long-term financing facility, we are well-positioned to accelerate commercialization of our proenzyme technology.”
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
info@propanc.com
Investor Contact:
irteam@propanc.com
| CONDENSED CONSOLIDATED BALANCE SHEETS | |||||||
| September 30, 2025 | June 30, 2025 | ||||||
| (Unaudited) | |||||||
| ASSETS | |||||||
| CURRENT ASSETS: | |||||||
| Cash | $ | 602,737 | $ | 12,088 | |||
| GST tax receivable | 8,383 | 5,302 | |||||
| Prepaid expenses - current portion | 8,143,532 | 8,334,046 | |||||
| Other current assets | 8,828 | 1,380 | |||||
| TOTAL CURRENT ASSETS | 8,763,480 | 8,352,816 | |||||
| Deferred offering costs | 15,000 | 291,773 | |||||
| Prepaid expenses - long-term portion | 9,136,572 | 10,925,835 | |||||
| Security deposit - related party | 1,986 | 1,971 | |||||
| Operating lease right-of-use assets, net - related party | 56,279 | 59,413 | |||||
| Property and equipment, net | 2,364 | - | |||||
| TOTAL ASSETS | $ | 17,975,681 | $ | 19,631,808 | |||
| LIABILITIES AND STOCKHOLDERS' EQUITY | |||||||
| CURRENT LIABILITIES: | |||||||
| Accounts payable | $ | 1,072,108 | $ | 1,249,596 | |||
| Accrued expenses and other payables | 842,154 | 1,486,550 | |||||
| Accrued interest | 150,443 | 190,795 | |||||
| Loans payable | 65,280 | 65,280 | |||||
| Loans payable - related parties, net of discount | 460,240 | 415,329 | |||||
| Notes payable, net of discount | - | 543,312 | |||||
| Convertible notes, net of discounts and including put premiums | 106,968 | 537,921 | |||||
| Operating lease liability - related party, current portion | 20,500 | 17,664 | |||||
| Embedded conversion option liabilities | 167,878 | 403,892 | |||||
| Employee benefit liability | 686,863 | 667,901 | |||||
| TOTAL CURRENT LIABILITIES | 3,572,434 | 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 | 42,080 | 41,749 | |||||
| TOTAL NON-CURRENT LIABILITIES | 42,080 | 147,376 | |||||
| TOTAL LIABILITIES | $ | 3,614,514 | $ | 5,725,616 | |||
| Commitments and Contingencies (See Note 8) | |||||||
| 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 September 30, 2025 and June 30, 2025 | $ | - | $ | - | |||
| Series B preferred stock, $0.01 par value; 5 shares authorized; 1 share issued and outstanding as of September 30, 2025 and June 30, 2025 | - | - | |||||
| Common stock, $0.001 par value; 10,000,000,000 shares authorized; 12,806,748 and 11,611,782 shares issued and outstanding as of September 30, 2025 and June 30, 2025, respectively | 12,807 | 11,612 | |||||
| Common stock issuable (518,687 and 7,750 shares as of September 30, 2025 and June 30, 2025, respectively) | 519 | 8 | |||||
| Additional paid-in capital | 143,517,615 | 138,243,652 | |||||
| Accumulated other comprehensive income | 1,335,961 | 1,318,917 | |||||
| Accumulated deficit | (130,459,258 | ) | (125,621,520 | ) | |||
| Treasury stock ($0.001 share) | (46,477 | ) | (46,477 | ) | |||
| TOTAL STOCKHOLDERS' EQUITY | 14,361,167 | 13,906,192 | |||||
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ | 17,975,681 | $ | 19,631,808 | |||
| CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) | |||||||
| (Unaudited) | |||||||
| For the three months ended September 30, | |||||||
| 2025 | 2024 | ||||||
| REVENUE | |||||||
| Revenue | $ | - | $ | - | |||
| OPERATING EXPENSES | |||||||
| Administration expenses | 4,598,574 | 220,759 | |||||
| Occupancy expenses - related party | 14,789 | 8,317 | |||||
| Research and development | 60,201 | 61,714 | |||||
| TOTAL OPERATING EXPENSES | 4,673,564 | 290,790 | |||||
| LOSS FROM OPERATIONS | (4,673,564 | ) | (290,790 | ) | |||
| OTHER INCOME (EXPENSE) | |||||||
| Interest expense | (305,649 | ) | (86,230 | ) | |||
| Interest income | 19 | 1 | |||||
| Derivative expense | - | (27,182 | ) | ||||
| Change in fair value of derivative liabilities | (19,706 | ) | 52,787 | ||||
| Gain (loss) on extinguishment of debt, net | 195,861 | (11,319 | ) | ||||
| Foreign currency transaction gain (loss) | (34,699 | ) | 8,423 | ||||
| TOTAL OTHER INCOME (EXPENSE), NET | (164,174 | ) | (63,520 | ) | |||
| LOSS BEFORE TAXES | (4,837,738 | ) | (354,310 | ) | |||
| Tax benefit | - | - | |||||
| NET LOSS | $ | (4,837,738 | ) | $ | (354,310 | ) | |
| BASIC AND DILUTED NET LOSS PER SHARE | $ | (0.39 | ) | $ | (35.97 | ) | |
| BASIC AND DILUTED WEIGHTED AVERAGE SHARES OUTSTANDING | 12,331,526 | 9,849 | |||||
| NET LOSS | $ | (4,837,738 | ) | $ | (354,310 | ) | |
| OTHER COMPREHENSIVE INCOME (LOSS) | |||||||
| Unrealized foreign currency translation gain (loss) | 17,044 | (98,943 | ) | ||||
| TOTAL OTHER COMPREHENSIVE INCOME (LOSS) | 17,044 | (98,943 | ) | ||||
| TOTAL COMPREHENSIVE LOSS | $ | (4,820,694 | ) | $ | (453,253 | ) | |
| The accompanying unaudited condensed notes are an integral part of these unaudited condensed consolidated financial statements. | |||||||
