--- title: "Emmaus reports lower first-quarter revenue and a wider net loss" url: "https://aibio.space/news/emmaus-reports-lower-first-quarter-revenue-wider-net-loss/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2026-05-15" section: "Company Updates" tickers: "OTC:EMMA" source: "https://www.sec.gov/Archives/edgar/data/822370/000121390026057828/ea029089601ex99-1.htm" summary: "Net revenues fell to $2.0 million as U.S. sales dropped 33%. The company reported a net loss of $3.3 million and cash of $1.1 million at March 31, 2026." --- By the aibio.space news desk. Sources - [Emmaus Life Sciences press release, Exhibit 99.1 to Form 8-K](https://www.sec.gov/Archives/edgar/data/822370/000121390026057828/ea029089601ex99-1.htm) - [Emmaus Life Sciences, Inc. 10-K (2026-03-31): business](https://www.sec.gov/Archives/edgar/data/822370/000119312526132925/emma-20251231.htm) - [Emmaus Life Sciences, Inc. financial data (SEC XBRL)](https://www.sec.gov/Archives/edgar/data/822370/000119312526132925/) [EMMA](https://aibio.space/companies/emmaus-life-sciences/) 2026-05-15 # Emmaus reports lower first-quarter revenue and a wider net loss Tickers [EMMA](https://aibio.space/companies/emmaus-life-sciences/) Net revenues fell to $2.0 million as U.S. sales dropped 33%. The company reported a net loss of $3.3 million and cash of $1.1 million at March 31, 2026. ## Key facts - **Company**: Emmaus Life Sciences, Inc. (OTC: EMMA) - **News type**: Company Updates - **Primary source**: [Emmaus Life Sciences press release, Exhibit 99.1 to Form 8-K](https://www.sec.gov/Archives/edgar/data/822370/000121390026057828/ea029089601ex99-1.htm) *Reading a sequencing gel, 1980. Photo: Linda Bartlett, public domain, via Wikimedia Commons. The picture shows the field, not the companies named.* Emmaus Life Sciences, Inc. (OTCQB: [EMMA](https://aibio.space/companies/emmaus-life-sciences/)) reported its financial condition and results for the three months ended March 31, 2026, in a release dated May 15, 2026. Net revenues were $2.0 million, compared with $2.4 million in the same period of 2025, a decline of 18%. ## What the company sells Emmaus describes itself as a commercial-stage biopharmaceutical company and a leader in the treatment of sickle cell disease. Its product, Endari (L-glutamine oral powder), is indicated to reduce the acute complications of sickle cell disease in adults and children five years and older. The FDA approved Endari in July 2017. The release says it is also approved in the United States, Israel, Kuwait, Qatar, the United Arab Emirates, Bahrain and Oman, and that it is available on a named patient or early access basis in France, the Netherlands and Saudi Arabia, where an application for marketing authorization is awaiting final action by the Saudi Food & Drug Authority. The company's 10-K says Endari is its only product. In the United States it is sold through nonexclusive distributors, and in the Middle East and North Africa it is sold through exclusive arrangements with local distributors. Chief executive Willis Lee attributed the revenue decline mainly to a 33% decrease in U.S. sales, which the company linked to competition from a generic version of L-glutamine introduced in mid-2024. Sales in the Middle East and North Africa rose 446% and partly offset the decline. He also said, "Our loss from operations improved by 16% year-over-year, reflecting the impact of our cost reduction initiatives." ## Costs and net loss Total operating expenses were $2.6 million for the quarter, compared with $3.2 million a year earlier. The company said the decrease came mainly from lower research and development and general and administrative expenses, which it linked to headcount reductions and other cost cuts started in the second half of 2024. The loss from operations was $0.8 million, compared with $1.0 million, because lower operating expenses more than offset the drop in revenue. Other expense rose to $2.5 million from $1.3 million. The company said the increase came mainly from higher interest expense and a change in the fair value of a conversion feature derivative. The net loss was $3.3 million, or $0.05 per basic share, based on approximately 70.2 million weighted-average common shares. In the first quarter of 2025 the net loss was $2.3 million, or $0.04 per share, on approximately 63.9 million shares. The release says the increase in the net loss came mainly from the increase in other expense. ## Liquidity and what comes next At March 31, 2026, the company had cash and cash equivalents of $1.1 million, compared with $2.1 million at December 31, 2025. Cash fell by about half in one quarter. The XBRL data in the annual report show revenue falling from $16.7 million in 2024 to $12.5 million in 2025, and the net loss widening from $6.5 million to $7.5 million, so the first quarter continues a decline that already existed, with one product facing a generic. The release's forward-looking statements point readers to the company's annual report and its quarterly report filed on May 15, 2026, and they name doubt about the company's ability to continue as a going concern as one of the risks. The company's cost cuts narrowed the operating loss, but the net loss still grew because of interest expense and a derivative charge. The release does not announce new financing, a new commercial plan or a change to the company's cost program. The 10-K's business section describes a license agreement signed in December 2025 with NeoImmuneTech, Inc. Under that agreement, NeoImmuneTech would receive an exclusive license to market, sell and distribute Endari and any generic equivalents in sickle cell disease in the United States, its territories and possessions and Canada, once the agreement's effective date occurs. Emmaus would receive an upfront cash payment and a double-digit royalty on the licensee's sales. The release does not say when that agreement will take effect. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story EMMA Emmaus Life Sciences, Inc. OTC ยท United States Open the starter desk ## More in Company Updates Company Updates ### [PTC reports third-quarter 2026 revenue of $358 million and raises product guidance](https://aibio.space/news/ptc-reports-third-quarter-2026-revenue-358-million-raises-product/) Oct 29, 2026 Company Updates ### [Processa clears VT-7208 CSU IND and names a new executive chair](https://aibio.space/news/processa-clears-vt-7208-csu-ind-names-new-executive-chair/) Oct 29, 2026 Company Updates ### [Kiora in-licenses late-stage KIO-401 for retinal artery occlusion](https://aibio.space/news/kiora-licenses-late-stage-kio-401-retinal-artery-occlusion/) Oct 29, 2026 --- Source page: https://aibio.space/news/emmaus-reports-lower-first-quarter-revenue-wider-net-loss/. Facts in aibio.space stories are checked against company filings and releases; opinion is labelled. Cite as: aibio.space, "Emmaus reports lower first-quarter revenue and a wider net loss", 2026-05-15, https://aibio.space/news/emmaus-reports-lower-first-quarter-revenue-wider-net-loss/