Every 10-Q that Fractyl Health (GUTS) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow GUTS and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full GUTS filings page.
Fractyl Health, Inc. reported a Q2 2026 net loss of $25.5 million and a six‑month 2026 net loss of $16.3 million, with no product revenue as it remains a clinical‑stage company. Operating expenses were driven by $13.8 million of research and development and $5.3 million of selling, general and administrative costs in the quarter.
For the six months, research and development spending was $29.4 million, down from the prior year period due to lower Revita and Rejuva program costs and reduced headcount. Other income reflected a $24.6 million non‑cash gain from the change in fair value of warrant liabilities, partly offset by losses on notes payable.
Cash and cash equivalents were $47.1 million as of June 30, 2026, with net cash used in operating activities of $38.4 million in the first half. Management expects existing cash to fund operations into early 2027 but concluded there is substantial doubt about the company’s ability to continue as a going concern for at least 12 months from issuance without additional financing or cost reductions.
Clinically, Fractyl reported encouraging weight‑maintenance data from its Revita REMAIN‑1 program and advanced its Rejuva gene therapy platform, including CTA authorization in the Netherlands and ethics approval in Australia for lead candidate RJVA‑001.
Fractyl Health, Inc. reported net income of $9.2 million for the three months ended March 31, 2026, mainly from a $30.1 million non-cash gain on warrant liabilities. Operating expenses were $20.8 million, and Adjusted EBITDA was a loss of $18.0 million, reflecting ongoing investment in Revita and Rejuva.
Cash and cash equivalents were $63.2 million, with management expecting funding to last into early 2027 but disclosing substantial doubt about the ability to continue as a going concern over 12 months from issuance. The company also received a Nasdaq notice for falling below the $1.00 minimum bid price. Clinical progress included midpoint Revita weight-maintenance data and Dutch authorization to begin a first‑in‑human Rejuva RJVA‑001 trial in type 2 diabetes.
Fractyl Health (GUTS) filed its Q3 2025 report showing continued operating losses and a shift to an equity deficit. The company reported a net loss of $45.6 million for the quarter and $97.2 million for the first nine months of 2025. Operating expenses were $22.7 million in Q3, led by $17.5 million in research and development.
Cash and cash equivalents were $77.7 million as of September 30, 2025, up from $67.5 million at year-end, boosted by equity raises. Total assets were $114.3 million, while total liabilities were $117.5 million, including $40.9 million of warrant liabilities; stockholders’ equity moved to a deficit of $3.2 million from equity of $28.4 million at December 31, 2024.
The company completed several financings: an August 2025 public offering yielding approximately $20.7 million net with associated Tranche A and Tranche B warrants, and a September 2025 offering of 60,000,000 shares at $1.00 per share for approximately $56.0 million net. An ATM program added $2.1 million net in the first nine months and $4.8 million net in October 2025. Management disclosed substantial doubt about the ability to continue as a going concern, citing potential minimum liquidity covenant pressure on the 2023 Notes by the end of 2026 and plans to seek additional funding.
Fractyl Health (GUTS) reported widening losses and tightening liquidity as it advances two clinical programs. Cash and cash equivalents were $22.3 million at June 30, 2025 and total assets declined to $62.0 million from $108.1 million year‑end 2024. The company recorded a net loss of $51.6 million for the six months ended June 30, 2025 versus $20.6 million a year earlier, driven largely by higher research and development spending of $40.6 million for the period.
The company had an accumulated deficit of $466.9 million and a long‑term notes payable fair value of $29.985 million. Management states that available cash of $22.3 million combined with $20.7 million of net proceeds from an August 2025 offering is not sufficient to fund the current operating plan for at least twelve months, and substantial doubt exists about the company’s ability to continue as a going concern. Operational highlights include completed enrollment in the REMAIN‑1 Revita pivotal cohorts with positive 3‑month REVEAL‑1 signals, a CTA module filing in Europe for RJVA‑001 (Rejuva) and issuance of two U.S. patents strengthening duodenal resurfacing IP.