--- title: "Hepion Pharmaceuticals delays quarterly report for three months ended March" url: "https://aibio.space/news/hepion-pharmaceuticals-delays-quarterly-report-three-months-ended/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2025-05-15" section: "Distress" tickers: "OTC:HEPA" source: "https://www.sec.gov/Archives/edgar/data/1583771/000164117225010988/formnt10-q.htm" summary: "Hepion says it is still compiling information for its March quarter 10-Q and expects to file within five calendar days. The notice previews research and de" --- By the aibio.space news desk. Sources - [Hepion Pharmaceuticals, Inc. NT 10-Q (2025-05-15)](https://www.sec.gov/Archives/edgar/data/1583771/000164117225010988/formnt10-q.htm) - [Hepion Pharmaceuticals, Inc. 10-K (2025-04-08): business](https://www.sec.gov/Archives/edgar/data/1583771/000164117225003250/form10-k.htm) [HEPA](https://aibio.space/companies/hepion-pharmaceuticals/) 2025-05-15 # Hepion Pharmaceuticals delays quarterly report for three months ended March 31, 2025 Tickers [HEPA](https://aibio.space/companies/hepion-pharmaceuticals/) Hepion says it is still compiling information for its March quarter 10-Q and expects to file within five calendar days. The notice previews research and development spending of $22,235, down from $2.5 million. ## Key facts - **Company**: Hepion Pharmaceuticals, Inc. (OTC: HEPA) - **News type**: Distress - **Primary source**: [Hepion Pharmaceuticals, Inc. NT 10-Q (2025-05-15)](https://www.sec.gov/Archives/edgar/data/1583771/000164117225010988/formnt10-q.htm) *The stone facade of a federal building. Photo: Carol M Highsmith, CC0, via rawpixel. The picture shows the field, not the companies named.* ## The notice Hepion Pharmaceuticals, Inc. told the Securities and Exchange Commission on May 15, 2025 that its quarterly report for the three months ended March 31, 2025 would be late. The Morristown, New Jersey company filed a Form 12b-25 notification of late filing. That form gives a company a short extension when a periodic report cannot be filed on time without unreasonable effort or expense. For a Form 10-Q, the extension is five calendar days. Hepion says it is still compiling certain required information to complete the 10-Q, and it expects to file within the five-day extension period. The notice is signed by John Brancaccio, the company's interim chief executive officer. It also states that all other periodic reports due in the preceding 12 months have been filed. ## The preview figures The notice also previews how its spending changed. It says the company expects a significant change in results from the same period a year earlier, and it gives these comparisons for the three months: Research and development expenses were $22,235, against $2.5 million in the first quarter of 2024. The company attributes the decrease of $2.0 million mainly to lower clinical trial costs, mostly for its Phase 2b study, and to lower Chemistry, Manufacturing and Controls costs. It also cites $0.5 million in lower employee compensation from reduced headcount and the discontinuation of clinical trials. General and administrative expenses were $1.3 million, against $2.6 million a year earlier. The company says the $1.3 million decrease came from $0.7 million in lower employee stock compensation and $0.7 million in lower salaries after the headcount cut. These are preview comparisons for a report that has not yet been filed. The notice gives no net loss, no cash balance and no statement about whether the company has enough money to keep operating. Those figures will be in the 10-Q. ## What the spending cut reflects The research line reflects the company's retreat from the trial. The lead asset, rencofilstat, is a cyclophilin inhibitor that was being developed for chronic liver disease. The 2024 annual report, filed April 8, 2025, says the board approved a restructuring plan in December 2023 to preserve capital by reducing operating costs. It also says that on April 19, 2024 the company announced it had begun winding down its ASCEND-NASH trial, and that it did not have access to sufficient funding to complete the study as designed. The trial was closed in August 2024. The company's financing history is similar. In July 2024, Hepion agreed to merge with Pharma Two B Ltd., and sold $2.9 million of original issue discount senior unsecured notes the same day. The merger agreement was terminated on December 10, 2024, after the parent said Nasdaq would not exclude the company's historical losses from its burn rate calculation. On January 23, 2025, Hepion completed a best efforts registered offering that included 73,222 common shares, pre-funded warrants for 480,624 shares, and Series A and Series B warrants for 553,846 shares each. Gross proceeds were $9,000,000, and part of the net proceeds repaid the notes and accrued interest. In the 2024 annual report the company says its Phase 2a ALTITUDE-NASH study met its primary endpoint in May 2023, showing improved liver function after four months of treatment. The later Phase 2b study was designed for 12 months of dosing, and the company did not complete it. ## What comes next The notice sets no date beyond the five-day extension. It does not say how the company will fund its remaining operations after the $9,000,000 January offering. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story HEPA Hepion Pharmaceuticals, Inc. OTC ยท United States Open the starter desk ## More in Distress Distress ### [Mineralys takes ownership of lorundrostat patents but keeps Tanabe milestone debts](https://aibio.space/news/mineralys-takes-ownership-lorundrostat-patents-but-keeps-tanabe/) Oct 29, 2026 Distress ### [Bristol Myers Squibb drops Prothena's PRX019, ending up to $617.5 million in milestones](https://aibio.space/news/bristol-myers-squibb-drops-prothenas-prx019-ending-up-617-5-million/) Oct 29, 2026 Distress ### [LENZ Therapeutics reorganizes to cut 2027 operating expenses by more than 50%](https://aibio.space/news/lenz-therapeutics-reorganizes-cut-2027-operating-expenses-more-50/) Oct 28, 2026 --- Source page: https://aibio.space/news/hepion-pharmaceuticals-delays-quarterly-report-three-months-ended/. Facts in aibio.space stories are checked against company filings and releases; opinion is labelled. Cite as: aibio.space, "Hepion Pharmaceuticals delays quarterly report for three months ended March", 2025-05-15, https://aibio.space/news/hepion-pharmaceuticals-delays-quarterly-report-three-months-ended/