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VRAX

Virax Biolabs Group Limited

VRAX

Virax Biolabs Group Limited • NASDAQ
$0.40 ▲ 0.65% (+0.00)
Market Cap $1.75 M
52w High $3.20
52w Low $0.35
Dividend Yield 0%
P/E -0.25
Volume 80.98K
Outstanding Shares 4.34M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q4-2025 $1.378K ▼ $3.237M ▲ $-3.305M ▼ -239.827K% ▼ $-0.76 ▲ $-3.139M ▼
Q2-2025 $4.953K ▼ $2.872M ▼ $-2.756M ▲ -55.652K% ▼ $-0.89 ▲ $-2.767M ▲
Q4-2024 $79.919K ▲ $3.83M ▲ $-3.824M ▼ -4.785K% ▼ $-1.71 ▼ $-3.723M ▼
Q2-2024 $76.5K ▲ $2.717M ▼ $-2.91M ▲ -3.803K% ▲ $-1.64 ▲ $-2.688M ▼
Q4-2023 $2.801K $4.291M $-4.014M -143.302K% $-2.58 $294.07K

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q4-2025 $4.229M ▼ $6.427M ▼ $964.75K ▼ $5.696M ▼
Q2-2025 $7.382M ▲ $9.443M ▲ $1.026M ▲ $8.645M ▲
Q4-2024 $3.589M ▼ $5.484M ▼ $345.194K ▼ $5.367M ▼
Q2-2024 $5.108M ▼ $7.025M ▼ $919.049K ▲ $6.333M ▼
Q4-2023 $9.353M $9.812M $908.401K $9.126M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q4-2025 $-3.305M ▼ $-2.455M ▼ $-355.895K ▼ $-246.46K ▼ $-3.057M ▼ $-3.001M ▼
Q2-2025 $-2.756M ▲ $-1.919M ▲ $-247.995K ▲ $5.863M ▲ $3.697M ▲ $-2.167M ▲
Q4-2024 $-3.824M ▼ $-2.789M ▲ $-456.268K ▲ $1.727M ▲ $-1.519M ▲ $-3.249M ▲
Q2-2024 $-2.91M ▲ $-3.458M ▼ $-708.181K ▼ $-78.812K ▼ $-4.245M ▼ $-4.166M ▼
Q4-2023 $-4.014M $-1.883M $-178.403K $6.844M $4.782M $-2.062M

Five-Year Company Overview

Income Statement

Income Statement Virax is still a pre-commercial biotech story from a financial standpoint. Over the last several years it has reported essentially no revenue and small but persistent operating losses. Earnings per share look sharply negative, but this is mostly a reflection of the company’s tiny size and the prior reverse split rather than large absolute losses. Overall, the income statement shows a classic early-stage pattern: research and corporate costs with no meaningful sales yet to offset them.

Balance Sheet

Balance Sheet The balance sheet is very small and simple. Assets and shareholders’ equity are modest, with little more than a small cash position on hand. There is effectively no financial debt, which reduces interest and refinancing risk but also highlights that the company is funding itself mainly through equity. The limited asset base and thin capital cushion underline that this is a very early-stage, capital-constrained business that will likely depend on future fundraising to support its plans.

Cash Flow

Cash Flow Cash flow mirrors the pre-revenue profile: modest cash outflows from operating activities and negative free cash flow, driven by ongoing expenses rather than investment in large physical assets. There is little to no spending on equipment or facilities, which fits a lean, research-focused model. The key takeaway is that cash is being consumed to fund development, and without operating inflows yet, the company’s runway will depend on external capital and careful cost control.

Competitive Edge

Competitive Edge Virax is trying to carve out a focused niche in immune diagnostics, particularly around T‑cell testing for post-viral and post-acute infection syndromes such as Long COVID. Its strategy leans on being an early mover in an underserved area, using specialized assay technologies and proprietary peptide pools. Collaborations with well-known universities and health systems add credibility and support validation. At the same time, Virax competes in a space that includes much larger, better-funded diagnostics players, and its commercial presence is still very limited. Its competitive position is therefore promising on concept and partnerships, but unproven in the market until products gain regulatory clearance and adoption.

Innovation and R&D

Innovation and R&D Innovation is the clear strength of the story. The ViraxImmune platform, built on advanced T‑cell assays (ELISpot and FluoroSpot) and proprietary peptide pools, targets a real diagnostic gap in conditions like Long COVID and other post-viral syndromes. The company already offers research-use products and services that help build relationships with scientists and pharma partners, while it works toward regulated clinical tests. Ongoing clinical studies, including work with the UK’s NHS, and planned regulatory interactions in the US signal a structured development path, though timelines are long and outcomes uncertain. Overall, Virax is highly R&D-driven, with its future hinging on successful clinical validation and regulatory approvals.

Summary

Virax Biolabs is best viewed as an early-stage, research-heavy biotech with almost no current revenue, small recurring losses, and a very modest capital base. Its financials reflect a company still in the build-and-validate phase rather than one in commercial scale-up. The main attraction lies in its specialized T‑cell diagnostics platform and its focus on difficult-to-diagnose post-infection conditions, backed by notable academic and health-system partnerships. The flip side is high execution and funding risk: product performance, regulatory outcomes, commercialization strategy, and access to fresh capital will largely determine whether its scientific potential translates into a sustainable business. Uncertainty is high, and the story is predominantly about future possibilities rather than present financial strength.

NEWS

November 3, 2025 · 8:29 AM UTC

Virax Biolabs Completes UK Clinical Recruitment and Reports Constructive FDA Feedback for ViraxImmune™ Study Evaluating T Cell Dysfunction in Post-Acute Infection Syndromes

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