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PolyPid Provides Corporate Update and Reports Fourth Quarter and Full-Year 2025 Financial Results

Key Takeaway: PolyPid Ltd. has provided a corporate update and reported its financial results for 2025. The company successfully completed the SHIELD II Phase 3 trial for its lead product, D-PLEX 1800, and is in advanced discussions for U.S. commercial partnerships. Positive feedback from the FDA supports a rolling NDA review, with submission expected by the end of Q1 2026. The CEO expressed optimism for 2026 as a pivotal year for the company's transition to commercialization.
Price reaction · baseline $4.68 (2026-02-10 close) · hit pre-market · clean, no other PYPD news in the window
day 0 close
-1.3%

Market Sentiment Analysis

POSITIVE FACTORS

  • Successful completion of the SHIELD II Phase 3 trial.
  • Positive FDA feedback supports a rolling NDA review.
  • Advanced discussions for U.S. commercial partnerships.
  • 2026 is expected to be a transformative year for the company.

BiopharmaWatch Analysis

From our catalyst data and publicly available data · not financial advice
Best trade, last catalyst
+50%
120-day peak, hindsight
Typical move
4.8%
average across 4 past catalysts
Lead asset
D-PLEX
Phase 3 · Surgical Site Infection

Full Press Release Details

The Company is inAdvancedStagesofCommercialU.S.PartnershipDiscussions forD-PLEX₁₀₀
Positive FDA Pre-NDA Feedback Supports Rolling NDAReview;SubmissionExpected to BeginbytheEnd ofthe First Quarter of2026
Conference Call Scheduled for Today at 8:30 AM ET
PETACH TIKVA, Israel, Feb. 11, 2026 (GLOBE NEWSWIRE) -- PolyPid Ltd. (Nasdaq: PYPD) (“PolyPid” or the “Company”), an innovative biopharmaceutical company dedicated to improving patient outcomes by elevating treatment effectiveness, right where care begins, today provided a corporate update and reported financial results for the three months and full year ended December 31, 2025.

Recent Corporate Highlights:

“2025 was a pivotal year for PolyPid as we successfully completed the SHIELD II Phase 3 trial and advanced D-PLEX₁₀₀ into the final stages of regulatory approval,” said Dikla Czaczkes Akselbrad, Chief Executive Officer of PolyPid. “Following our positive Phase 3 results and progress made in the past quarter, we have moved into advanced stage discussions for potential commercial partnership in the U.S., reflecting the growing recognition of D-PLEX₁₀₀’s clinical and commercial value. At the same time, positive engagement with the FDA, including agreement on a rolling NDA review, further advanced our regulatory path as we work toward an NDA submission beginning by end of the first quarter of 2026. We believe 2026 has the potential to be a transformative year for PolyPid, marking our transition from late-stage development into full commercial execution, and we look forward to providing updates as these developments occur.”

Financial results for three months ended December 31, 2025

Financial results for the full year ended December 31, 2025

Balance Sheet Highlights

Conference Call Dial-In & Webcast Information:

Date: Wednesday, February 11, 2026
Time: 8:30 AM Eastern Time
Conference Call: https://register-conf.media-server.com/register/BI793c5305462d49cea4ba91529d2636bf
Webcast: https://edge.media-server.com/mmc/p/izp7gdk6
About PolyPidPolyPid Ltd. (Nasdaq:PYPD) is an innovative biopharmaceutical company dedicated to elevating treatment effectiveness, right where care begins. The Company develops long-acting, controlled-release drugs designed to deliver therapy precisely at the site of care, addressing critical unmet medical needs across a wide and diverse pipeline spanning surgical care, metabolic diseases, and beyond. PolyPid’s lead product, D-PLEX₁₀₀, successfully met its primary and all key secondary endpoints in the landmark Phase 3 SHIELD II trial for the prevention of surgical site infections. Guided by a commitment to precision and innovation, PolyPid is redefining how therapies perform and raise the standard of patient care.
For additional Company information, please visithttp://www.polypid.comand follow us onTwitter (X)and LinkedIn.
Forward-looking StatementsThis press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act and other securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. For example, the Company is using forward-looking statements when it discusses its regulatory strategy and planned timing for the submission of an NDA for D-PLEX₁₀₀, including the use of a rolling NDA review, advanced stages of commercial U.S. partnership discussions for D-PLEX₁₀₀, the potential role of D-PLEX₁₀₀ in improving surgical outcomes, the Company’s evolution toward commercialization, the growing recognition of D-PLEX₁₀₀’s clinical and commercial value, its belief that 2026 has the potential to be a transformative year for the Company, marking its transition from late-stage development into full commercial execution, and its expectation that current cash resources will be sufficient to fund operations into the second half of 2026 and through several significant upcoming potential milestones. Forward-looking statements are not historical facts, and are based upon management’s current expectations, beliefs and projections, many of which, by their nature, are inherently uncertain. Such expectations, beliefs and projections are expressed in good faith. However, there can be no assurance that management’s expectations, beliefs and projections will be achieved, and actual results may differ materially from what is expressed in or indicated by the forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the forward-looking statements. For a more detailed description of the risks and uncertainties affecting the Company, reference is made to the Company’s reports filed from time to time with the Securities and Exchange Commission, including, but not limited to, the risks detailed in the Company’s Annual Report on Form 20-F filed on February 26, 2025. Forward-looking statements speak only as of the date the statements are made. The Company assumes no obligation to update forward-looking statements to reflect actual results, subsequent events or circumstances, changes in assumptions or changes in other factors affecting forward-looking information except to the extent required by applicable securities laws. If the Company does update one or more forward-looking statements, no inference should be drawn that the Company will make additional updates with respect thereto or with respect to other forward-looking statements. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. PolyPid is not responsible for the contents of third-party websites.

Company Contact:PolyPid Ltd.Ori Warshavsky908-858-5995IR@Polypid.com

Investor Relations Contact:Arx Investor RelationsNorth American Equities Deskpolypid@arxhq.com

CONSOLIDATED BALANCE SHEETS (UNAUDITED)
U.S. dollars in thousands
December 31,
2025 2024
ASSETS
CURRENT ASSETS:
Cash and cash equivalents $ 6,402 $ 15,641
Restricted deposits 193 168
Short-term deposits 6,531 -
Pre-launch inventories 1,106 -
Prepaid expenses and other current assets 995 764
Totalcurrent assets 15,227 16,573
LONG-TERM ASSETS:
Property and equipment, net 5,094 6,075
Operating lease right-of-use assets 1,675 2,295
Other long-term assets 311 277
Totallong-term assets 7,080 8,647
Totalassets $ 22,307 $ 25,220
CONSOLIDATED BALANCE SHEETS (UNAUDITED)
U.S. dollars in thousands (except share and per share data)
December 31,
2025 2024
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Trade payables $ 2,856 $ 2,409
Accrued expenses and other current liabilities 2,734 2,566
Current maturities of long-term debt 988 6,787
Current maturities of operating lease liabilities 1,161 919
Totalcurrent liabilities 7,739 12,681
LONG-TERM LIABILITIES:
Long-term debt - 634
Deferred revenues 2,548 2,548
Long-term operating lease liabilities 647 1,277
Other liabilities 400 396
Totallong-term liabilities 3,595 4,855
COMMITMENTS AND CONTINGENT LIABILITIES
SHAREHOLDERS' EQUITY:
Ordinary shares, no par value - - -
Authorized: 107,800,000 shares at December 31, 2025 and 2024, respectively; Issued and outstanding: 18,204,002 and 10,190,904 shares at December 31, 2025 and 2024, respectively
Additional paid-in capital 312,473 275,015
Accumulated deficit (301,500) (267,331)
Totalshareholders' equity 10,973 7,684
Totalliabilities and shareholders' equity $ 22,307 $ 25,220
CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
U.S. dollars in thousands (except share and per share data)
Year EndedDecember 31,
2025 2024 2023
Operating expenses:
Research and development $ 23,807 $ 22,811 $ 16,148
Marketing and business development 1,977 945 1,196
General and administrative 7,183 4,273 5,523
Operating loss 32,967 28,029 22,867
Loss on extinguishment of debt 512 - -
Financial expense, net 685 951 929
Loss before income tax 34,164 28,980 23,796
Income tax expense 5 42 69
Net loss $ 34,169 $ 29,022 $ 23,865
Loss per share:
Basic $ 2.09 $ 4.91 $ 16.99
Diluted $ 2.09 $ 4.91 $ 16.93
Weighted-average Ordinary shares outstanding:
Basic 16,351,890 5,912,890 1,404,368
Diluted 16,351,890 5,912,890 1,421,308
CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
U.S. dollars in thousands (except share and per share data)
Three Months EndedDecember 31,
2025 2024
Operating expenses:
Research and development, $ 6,218 $ 7,027
Marketing and business development expenses 556 198
General and administrative 1,756 996
Operating loss 8,530 8,221
Financial expense, net 24 286
Loss before income tax 8,554 8,507
Income tax expense (income) (81) 13
Net loss attributable to Ordinary shares $ 8,473 $ 8,520
Loss per share:
Basic $ 0.41 $ 1.13
Diluted $ 0.41 $ 1.13
Weighted average number of Ordinary shares used in computing basic and diluted loss per share 20,588,114 7,507,420

Frequently Asked Questions

What is the significance of the SHIELD II trial?

The SHIELD II trial was pivotal for PolyPid, as it successfully met all primary and secondary endpoints.

What feedback did PolyPid receive from the FDA?

PolyPid received positive feedback from the FDA, supporting a rolling NDA review for D-PLEX 1800.

When is the NDA submission for D-PLEX 1800 expected?

The NDA submission for D-PLEX 1800 is expected to begin by the end of the first quarter of 2026.

What are PolyPid's plans for 2026?

PolyPid anticipates 2026 to be transformative, marking its transition to full commercial execution.

Last updated: Feb 11, 2026