YD Bio Limited Reports Unaudited Half Year 2025 Financial Results

Rhea-AI Summary

YD Bio Limited (NASDAQ:YDES) reported its H1 2025 financial results, marked by strategic developments despite financial headwinds. The company's net revenue decreased 9% to $204,007, while operating expenses increased significantly to $2.0 million, resulting in a net loss of $1.9 million.

Key developments include securing $13.2 million in PIPE financing through a business combination with Breeze Holdings, advancing DNA methylation-based cancer detection technology, and expanding into ophthalmologic innovations. The company launched a pancreatic cancer screening LDT and plans to introduce a breast cancer recurrence monitoring LDT. Additionally, YD Bio is developing corneal stem-cell and exosome-based treatments for various eye conditions, with clinical trials planned for 2027.

Positive

• Secured $13.2 million in gross proceeds through PIPE financing
• Successfully completed business combination with Breeze Holdings to become publicly traded
• Launched DNA methylation-based pancreatic cancer screening LDT
• Obtained exclusive licensing for breast cancer detection across U.S., Europe, and Asia
• Maintained stable gross profit at $69,000 despite revenue decline

Negative

• Net revenue declined 9% to $204,007
• Net loss increased significantly to $1.9 million from $0.17 million year-over-year
• Operating expenses surged to $2.0 million from $262,264
• Cash and cash equivalents decreased to $469,520 from $3,132,298
• Clinical trials for key ophthalmologic treatments not starting until 2027

Insights

Biotech Financial Analyst

YD Bio reports widening losses amid strategic expansion; revenue declined 9% while R&D and administrative expenses increased significantly.

YD Bio Limited's half-year results reveal a 9% revenue decline to $204,007, while simultaneously reporting a substantially widened net loss of $1.9 million compared to $170,000 in the prior year period. This financial performance reflects a company in transition, prioritizing long-term strategic investments over near-term profitability.

The revenue decline stems from a product mix shift, with their top five products now accounting for 56% of revenue. More concerning is the dramatic increase in operating expenses, which surged from $262,264 to approximately $2 million - a nearly 700% increase driven by $1 million in general and administrative costs and $800,000 in R&D expenses for licensed patents.

Cash reserves have deteriorated significantly, falling from $3.13 million in December 2024 to $469,520 by June 2025. The recent business combination with Breeze Holdings and concurrent PIPE financing provided $13.2 million in gross proceeds - capital that appears necessary given the rapid cash burn.

The company is pursuing a multi-pronged commercialization strategy in high-value markets: cancer diagnostics (launching pancreatic cancer screening and breast cancer monitoring LDTs) and ophthalmologic treatments (developing corneal stem-cell and exosome-based therapies). Their business model combines direct product development with licensing arrangements, evidenced by partnerships with EG BioMed and 3D Global Biotech.

While management emphasizes their strengthened balance sheet and diversified pipeline, investors should note the company remains primarily in development stage with significant ongoing cash requirements. The current revenue stream from clinical trial services and medical products appears insufficient to support their ambitious R&D initiatives, suggesting continued dependence on external financing for the foreseeable future.

Oncology Diagnostics Specialist

YD Bio's cancer detection LDTs show commercial promise, but financial metrics reveal early-stage execution challenges amid expansion.

YD Bio's advancement in methylation-based cancer detection represents a scientifically sound approach to addressing critical unmet needs in early cancer diagnosis. The company has made notable progress in both pancreatic cancer screening and breast cancer recurrence monitoring through their licensing agreement with EG BioMed.

The pancreatic cancer screening LDT is particularly significant as pancreatic cancer is notoriously difficult to detect early and has poor survival rates. Methylation-based liquid biopsies offer advantages over traditional methods by detecting epigenetic changes that occur early in tumorigenesis with minimal invasiveness. Similarly, the breast cancer recurrence monitoring test addresses the critical need for vigilant post-treatment surveillance.

However, the financial results reveal execution challenges that could impact the successful commercialization of these technologies. The company's net loss of $1.9 million and declining cash position suggest substantial cash burn that could limit their ability to fully capitalize on their technological assets. The $13.2 million raised will provide runway, but careful capital allocation will be crucial.

The company's licensing strategy is noteworthy - rather than developing diagnostics entirely in-house, they've licensed technology from EG BioMed with a 20% revenue royalty arrangement. This approach accelerates time-to-market but compresses potential profit margins. Their planned U.S. independent laboratory development suggests they understand the importance of controlling the testing infrastructure to capture more value from their diagnostic portfolio.

The absence of specific performance metrics for these tests (sensitivity, specificity, clinical validation results) or clear timelines for market penetration makes it difficult to fully assess the near-term revenue potential. While the multi-billion dollar oncology diagnostics market opportunity is real, YD Bio faces established competitors and will need to demonstrate clear clinical utility and economic value to drive adoption in the complex diagnostic marketplace.

TAIWAN, Sept. 30, 2025 (GLOBE NEWSWIRE) -- YD Bio Limited (“YD Bio Ltd” or the “Company”) (Nasdaq: YDES), a biotechnology company advancing DNA methylation-based cancer detection technology and ophthalmologic innovations, today announced its unaudited financial results for the six months ended June 30, 2025.

Management Commentary

“With the closing of our business combination with Breeze Holdings Acquisition Corp. (“Breeze Holdings’) in August and the concurrent closing of a private investment in public equity financing, securing $13.2 million in gross proceeds to support our wholly-owned subsidiary YD Biopharma Limited (“YD Biopharma”)’s liquidity and capital resources, we are now a publicly traded biotech platform with the capital and structure needed to accelerate innovation,” said Dr. Ethan Shen, Chairman of the Board and CEO of YD Bio Ltd.

“Despite a slight decrease in net revenue, we managed to continue investing in general and administrative functions and R&D to expand capacity. We also advanced two licensed patents to execute growth strategy during the reporting period.”

“Our vision remains to deliver minimally invasive, early cancer detection globally and pioneer regenerative ophthalmology therapies. As previously announced, through exclusive licensing with EG BioMed Co., Ltd. (“EG BioMed”), we’ve launched a DNA methylation-based pancreatic cancer screening LDT and will introduce a breast cancer recurrence monitoring LDT later this year. In partnership with 3D Global Biotech Inc. (“3D Global”), we are preparing corneal stem-cell and exosome-based treatments for dry eye, glaucoma and corneal injury, with clinical trials slated for 2027. Simultaneously, our proven track record as a supplier of investigational drugs and ancillary materials underpins a robust clinical-trial services business.”

“We believe YD Bio Limited is positioned to capture a share of the multibillion-dollar oncology diagnostics, ocular therapeutics and clinical-trial services markets. Our strengthened balance sheet, public-market profile and diversified pipeline set the stage for sustainable revenue growth, margin expansion and long-term value creation for patients, partners and shareholders,” Dr. Shen said.

YD Biopharma’s Half Year 2025 Financial Results

YD Biopharma’s vision is to deliver early cancer detection globally, offering patients additional less invasive treatment options. It will focus on product development, equipment upgrades, and capacity expansion to meet customer quality and volume standards. YD Biopharma plans to achieve this through new products, acquisitions, licensing, proprietary medical-industry IP, and investments in global manufacturing processes. YD Biopharma will also grow its IP portfolio’s value to support worldwide product licensure.

Net Revenue

Net revenue fell by $20,973, or 9%, to $204,007 for the six months ended June 30, 2025, from $224,980 in the prior year. The top five products accounted for 56% of total revenue during the first half year of 2025, and the decline in net revenue was due to a change in product mix. 

Top five individual products by revenue for the six months ended June 30, 2025:

Keytruda injection (Drugs)		$	42,503
Exolens Hioxifilcon (Contact lenses)			35,000
Pharmorubicin Injection (Drugs)			17,938
12-Lead Electrocardiograph (Medical and related products)			10,048
Solu-Medrol Injection (Drugs)			8,478
Subtotal		$	113,967

Top five individual products by revenue for the six months ended June 30, 2024:

PVA Eye Cleansing Wipes (Medical and related products)		$	49,077
Keytruda injection (Drugs)			24,837
Fluorescence Cell Counter and Viability Analyzer (Medical and related products)			23,326
Giotrif Film-Coated Tablets (Medical and related products)			14,915
Faslodex Solution for injection (Drugs)			14,175
Subtotal		$	128,330

Cost of Revenue

Cost of revenue declined by $20,668, or 13%, to $135,212 for the six months ended June 30, 2025, from $155,880 a year earlier, reflecting primarily the 9% drop in net revenue. Cost of revenue consists mainly of purchase costs of products for resale.

Gross Profit

Gross profit was unchanged at $69,000 for the six months ended June 30, 2025 and 2024. We believe that, as we will grow net revenue through new markets and expanded distribution, our gross profit will also increase. We plan to accomplish this through the following:

●     improving resale product and raw material sources;

●     increasing and diversifying our customer base;

●     introducing new product lines and subcontractors with higher margins;

●     commencing new cancer early detection services;

●     establishing additional licensing agreements;

●     reducing component costs through greater purchasing power and scalability; and

●     expanding strategic relationships with component providers.

Operating Expenses

Operating expenses totaled $2.0 million for the six months ended June 30, 2025, up $1.8 million from $262,264 in the prior period, driven by $1.0 million in general and administrative fees for expansion and restructuring and $0.8 million in research and development expenses for two licensed patents and know-how.

Net Loss

YD Biopharma has operated primarily as a development stage company since its formation. Net loss was $1.9 million for the six months ended June 30, 2025, compared to $0.17 million in the prior period, driven by higher professional and consultancy fees incurred in connection with our business combination with Breeze   Holdings, R&D expenses, and staff costs linked to business expansion.

Cash and Cash Equivalents

Cash and cash equivalents including unrestricted cash with maturities of three months or less stood at $469,520 as of June 30, 2025, down from $3,132,298 at December 31, 2024, primarily due to general and administrative expenses and R&D spending.

Major Developments

YD Biopharma advanced ocular therapies via a 3D Global license for corneal mesenchymal stem cells and exosomes, supporting an IRB-approved corneal specimen study at Shuang-Ho Hospital. In 2025, It initiated clinical trial applications for exosome-based contact lenses and artificial tears for dry eye.

YD Biopharma is also expanding into oncology diagnostics through EG BioMed. In June 2024, it secured patents, technology, and U.S. market authorization for high-accuracy pancreatic cancer methylation detection, with plans for a U.S. independent lab and healthcare partnerships. On September 30, 2024, it signed an exclusive license for breast cancer detection across the U.S., Europe, and Asia, with a 20% revenue royalty to EG BioMed, for 20 years with automatic 5-year renewal.

About YD Bio Limited

YD Bio Limited is a biotechnology company focused on advancing clinical trials, new drug development, cancer prevention diagnostics, stem cell and exosome therapies with the potential to transform the treatment of diseases with high unmet medical need. The Company is committed to improving patient outcomes through scientific innovation and precision medicine. In addition to its R&D efforts, YD Bio Limited is a recognized supplier of clinical trial drugs and has expanded into the development and distribution of post-market auxiliary products. For more information, please visit the Company’s website: ir.ydesgroup.com

Forward-Looking Statements

Certain statements in this announcement are forward-looking statements, including, but not limited to, YD Bio’s business plan and outlook. These forward-looking statements involve known and unknown risks and uncertainties and are based on YD Bio’s current expectations and projections about future events that YD Bio believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “approximates,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may” or other similar expressions. YD Bio undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although YD Bio believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and YD Bio cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in YD Bio’s registration statement and other filings with the U.S. Securities and Exchange Commission.

For investor and media inquiries, please contact:

YD Bio Limited
Investor Relations
Email: investor@ydesgroup.com

FAQ

What were YD Bio's (YDES) key financial results for H1 2025?

YD Bio reported net revenue of $204,007 (down 9%), operating expenses of $2.0 million, and a net loss of $1.9 million. Cash and cash equivalents stood at $469,520.

How much funding did YD Bio (YDES) secure in its PIPE financing?

YD Bio secured $13.2 million in gross proceeds through a private investment in public equity (PIPE) financing concurrent with its business combination with Breeze Holdings.

What are YD Bio's (YDES) main product developments in cancer detection?

YD Bio has launched a DNA methylation-based pancreatic cancer screening LDT and plans to introduce a breast cancer recurrence monitoring LDT later in 2025.

What is YD Bio's (YDES) timeline for ophthalmologic clinical trials?

YD Bio plans to begin clinical trials for its corneal stem-cell and exosome-based treatments for dry eye, glaucoma, and corneal injury in 2027.

What were YD Bio's (YDES) top revenue-generating products in H1 2025?

The top products were Keytruda injection ($42,503), Exolens Hioxifilcon ($35,000), and Pharmorubicin Injection ($17,938), accounting for 56% of total revenue.