Vogenx, Inc. (VOGX), a clinical-stage drug developer, reported a net loss of $4,907,603 for the three months ended September 30, 2026, compared with $284,407 a year earlier; nine-month net loss was $5,767,485 versus $935,823. The company has not generated product-sales revenue. Quarterly research and development expense was $1,079,000, including $714,422 in direct post-bariatric hypoglycemia program costs, primarily startup costs for the EMERGE Phase 2b study. A $3.4 million non-cash warrant remeasurement loss contributed to other expense.
The August 2026 IPO generated approximately $84.4 million in net proceeds. Cash, cash equivalents and marketable securities totaled $82.1 million at September 30, 2026. Management expects these resources to fund operations and obligations for at least 12 months from the financial statements’ issuance and concluded substantial doubt about going concern did not exist. The company expects substantial operating losses to continue. Management found disclosure controls ineffective at a reasonable assurance level due to material weaknesses in internal controls over financial reporting and began a remediation risk assessment.
Vogenx, Inc. (VOGX) reported a third-quarter 2026 net loss of $4,907,603, compared with $284,407 in the same quarter of 2025, and operating expenses of $1,782,736. At September 30, 2026, the company reported $82.1 million in total cash, cash equivalents and marketable securities. It completed a $93.4 million IPO in August, issuing 7,187,500 shares at $13.00 per share and receiving approximately $84.4 million in net proceeds.
In October, Vogenx initiated EMERGE, a Phase 2b study of mizagliflozin for post-bariatric hypoglycemia; topline results are expected in the second half of 2027. The company plans to initiate a Phase 2 gastroparesis study in the first half of 2027. Its stated risks include material weaknesses in internal control over financial reporting.
Vogenx, Inc. announced that Richard Gorman will become Chief Commercial Officer effective October 12, 2026, and resign from the Board and all committees he served on, including Audit, Compensation, and Nominating and Corporate Governance. Gorman has served as an independent director since 2022. The company said his resignation was not the result of a disagreement over its operations, policies, or practices, and that it will search for a new independent director.
In the newly created role, Gorman will lead commercial operations and corporate strategy, including market development for post-bariatric hypoglycemia and gastroparesis, portfolio planning, and initially business development, partnering, and licensing strategy.
Vogenx, Inc. (VOGX) Chief Scientific Officer, director and 10% owner William Wilkison received an option award covering 155,000 shares of common stock, with an exercise price of $20.053 per share and an expiration date of October 2, 2031. The options vest over three years in annual installments of 51,666 shares on October 2, 2027, 51,667 shares on October 2, 2028, and 51,667 shares on October 2, 2029, subject to continued service through each vesting date.
Vogenx, Inc. director Kenneth John Toombs received a grant of stock options covering 50,000 common shares on October 2, 2026, with an exercise price of $18.23 per share and an expiration date of October 2, 2036. The options vest in three annual installments: 16,666 shares on October 2, 2027, 16,667 shares on October 2, 2028, and 16,667 shares on October 2, 2029, subject to continued service through each vesting date.
Vogenx, Inc. director Peter Pieraccini received a direct award of 50,000 stock options to acquire common stock on October 2, 2026. The options have an exercise price of $18.23 per share and expire on October 2, 2036. They vest in three annual installments, subject to his continued service through each vesting date. Pieraccini's reported direct option position after the award was 50,000 options.
Vogenx, Inc. (VOGX) granted Chief Executive Officer James Green 155,000 stock options on October 2, 2026, with an exercise price of $20.053 per share and an expiration date of October 2, 2031. The options vest in three annual installments covering 51,666 shares on October 2, 2027, 51,667 shares on October 2, 2028, and 51,667 shares on October 2, 2029, subject to his continued service through each vesting date.
Vogenx, Inc. (VOGX) reported that Chief Financial Officer Steven R. Delmar received a grant of 155,000 stock options on October 2, 2026, covering 155,000 shares of common stock. The options have an exercise price of $18.23 per share and expire October 2, 2036. They vest in three annual installments, subject to continued service through each vesting date.
Vogenx, Inc. director Timothy Boris was granted 50,000 stock options on October 2, 2026, with an exercise price of $18.23 per share and an expiration date of October 2, 2036. His reported directly held position after the grant was 50,000 options. The options vest in three equal annual installments of 33.33%, subject to his continued service through each vesting date.
Vogenx, Inc. identifies Kenneth John Toombs as a director in an initial beneficial ownership statement.