Lobe Sciences improved finances in 2025, cut debt, advanced drug candidates, and reduced losses despite a net loss.

Lobe Sciences reported improved financial results for fiscal year 2025, with cash rising to $5.85 million and working capital turning to a $5.16 million surplus after a leadership overhaul began in late 2024. The company eliminated convertible notes, reduced derivative liabilities, and added $1.69 million in short-term investments. Despite a net loss of $4.86 million, the loss per share decreased to $0.03. Lobe advanced two drug candidates—L-130 for chronic cluster headache and substance use disorder, and S-100 for sickle cell disease—using a lipid-based delivery platform. It also pursued limited commercialization of a medical food for sickle cell patients, relying on third-party reimbursement, though outcomes remain uncertain. The company aims to strengthen governance, reduce liabilities, and create value through R&D while minimizing shareholder dilution.