GNLX Genelux Corporation
Financings ·
Genelux sold 6,666,667 shares at $3.00 through Lucid Capital Markets, raising about $20.0 million gross. The oncolytic virus developer is running a phase 3 trial of Olvi-Vec in platinum-resistant ovarian cancer, and its China partner Newsoara holds the rights there.
Net proceeds are about $9.1 million. The auditor has raised going-concern doubt, and preliminary year-end cash was $30.9 million.
Genelux is a late clinical-stage biopharmaceutical company developing next-generation oncolytic viral immunotherapies for aggressive and difficult-to-treat tumor types. Its lead candidate, Olvi-Vec (olvimulogene nanivacirepvec), is a modified strain of the vaccinia virus designed to kill tumor cells and induce an immune response against each patient's tumor neoantigens. Genelux is evaluating Olvi-Vec in three clinical trials: a Phase 3 registrational trial in the U.S. in platinum-resistant/refractory ovarian cancer, a Phase 2 trial in the U.S. in recurrent non-small cell lung cancer, and a Phase 1b/2 trial in China in recurrent small cell lung cancer. Under its Newsoara License Agreement, Newsoara holds an exclusive license to Olvi-Vec in China, including mainland China, Taiwan, Hong Kong and Macau. The company operates a cGMP manufacturing facility in San Diego, California. Its CHOICE discovery platform has produced over 500 different versions of the vaccinia virus armed with greater than 110 transgenes, which the company intends to use to build a pipeline of further oncology candidates. Genelux says it intends to retain U.S. rights to its product candidates and to seek partnerships in geographies where it is unlikely to commercialize alone.
| Product or program | What it is | Stage |
|---|---|---|
| Olvi-Vec (ovarian cancer) | Oncolytic vaccinia virus given intraperitoneally for platinum-resistant/refractory ovarian cancer | Phase 3 |
| Olvi-Vec (non-small cell lung cancer) | Systemically administered oncolytic vaccinia virus for recurrent non-small cell lung cancer | Phase 2 |
| Olvi-Vec (small cell lung cancer) | Systemically administered oncolytic vaccinia virus for recurrent small cell lung cancer in China | Phase 1b/2 |
| Line | FY2025 | FY2024 |
|---|---|---|
| Revenue | $8,000 | $8,000 |
| Research and development | $19.9 million | $19.0 million |
| Net income (loss) | -$32.1 million | -$29.9 million |
| Cash from operations | -$25.3 million | -$21.2 million |
| Cash and equivalents | $5.3 million | $8.6 million |
| Short-term investments | $22.3 million |
Opinion Negative view
Olvi-Vec is in a Phase 3 trial, but cash covers about 9 months at the recent burn. We think another raise is more likely than not.
Our latest story on this, dated Mar 25, 2025: "Genelux prices $10.5 million underwritten offering of 3,000,000 shares at $3.50". The story links the filing or release it is based on. Read the story.
Our latest story on this, dated Jan 8, 2026: "Genelux sells $20 million of stock at $3 a share to fund ovarian cancer phase 3". The story links the filing or release it is based on. Read the story.
Genelux Corporation trades under the ticker GNLX on NASDAQ.
Genelux Corporation is listed on NASDAQ.
The SEC Central Index Key (CIK) for Genelux Corporation is 1231457. Its filings are on SEC EDGAR.
45,245,335 shares as of 2026-08-11, per the cover page of its 10-Q filed 2026-08-13.
Our directory records Genelux Corporation under United States.
Our directory classifies Genelux Corporation as: Pharmaceuticals: Major. This is a directory classification, not a description of the pipeline.
The ISIN recorded for Genelux Corporation is US36870H1032.
aibio.space lists Genelux Corporation among 2,820 public biotech companies and publishes its news here as stories appear.
SEC records list its state or country of incorporation as DE.
Genelux is a late clinical-stage biopharmaceutical company developing next-generation oncolytic viral immunotherapies for aggressive and difficult-to-treat tumor types. Its lead candidate, Olvi-Vec (olvimulogene nanivacirepvec), is a modified strain of the vaccinia virus designed to kill tumor cells and induce an immune response against each patient's tumor neoantigens.
Olvi-Vec (ovarian cancer): Oncolytic vaccinia virus given intraperitoneally for platinum-resistant/refractory ovarian cancer Stage: Phase 3.
Olvi-Vec (non-small cell lung cancer): Systemically administered oncolytic vaccinia virus for recurrent non-small cell lung cancer Stage: Phase 2.
$8,000 for the fiscal year ended Dec 31, 2025, as reported to the SEC.
Reported substantial doubt about its ability to continue as a going concern. SEC Form 10-Q. Source
Reported substantial doubt about its ability to continue as a going concern. SEC Form 10-K. Source
Reported a financing. SEC Form 8-K (Items 1.01,9.01). Source
Reported a financing. SEC Form 424B5. Source
Reported a financing. SEC Form 8-K (Items 8.01,9.01). Source
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