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SL Science Holding Limited Reports First Half 2026 Financial ResultsNet revenue rose 23% to $1.39 million with gross margin expanding to 40.2%, driven by B2B distribution growth and reduction in purchase costs compared with last period due to establishment of stable relationships with suppliers from 2026, which enabled SL Science Holding Limited to obtain favorable procurement terms. Taipei, TAIWAN, Oct. 26, 2026 (GLOBE NEWSWIRE) -- SL Science Holding Limited (“SL Science” or the “Company”) (NASDAQ: SLBT), a Taiwan-headquartered biomedical company specializing in developing innovative cellular and gene therapies, today announced its unaudited financial results for the six months ended June 30, 2026. Management Commentary "The first half of 2026 marked a period of profound structural execution and milestone achievement for SL Science. We successfully closed our business combination on June 12, and listed on the Nasdaq Global Market on June 15, supported by a concurrent $7.8 million PIPE financing. This capitalization provides the foundational strength required to advance our clinical programs. Concurrently, our deliberate pivot from direct retail to a B2B wholesale distribution model in Taiwan yielded immediate results. We drove a 23% increase in top-line revenue and expanded our gross margin to over 40% through enhanced volume predictability and optimized supplier pricing agreements,” said Mr. William Wang, Chief Executive Officer of SL Science. “Our strategic focus remains squarely on advancing our core oncology assets. We continuously increased research and development investments by 72% over the prior year, directing critical resources toward preclinical scale-up and regulatory preparedness for both our CD-19 Armed-T and Gamma Delta T (GDT) cell therapy platforms. By securing 20-year global exclusive rights for GDT cell applications in pancreatic and brain cancers and successfully completing key manufacturing and institutional review board (IRB) preparatory milestones with HeXun Biosciences, we are systematically de-risking our pathway to the clinic. Our vision is to establish SL Science as a global clinical leader, addressing severe unmet medical needs through breakthrough, scalable cellular innovations,” Mr. Wang added. SL Science's First Half 2026 Financial Results SL Bio is primarily engaged in sales of plant extract products and milk-derived exosome products to customers in Taiwan, while advancing its research and development in the biomedical industry, including with CD-19 Armed-T products and GDT cell therapy products for brain and pancreatic cancers. The following table presents selected summarized financial information derived from the Company's consolidated statements of operations for the six months ended June 30, 2026 and 2025:
Net revenue increased by approximately $0.26 million, or 22.8%, to approximately $1.39 million for the six months ended June 30, 2026, compared to approximately $1.13 million for the six months ended June 30, 2025. The increase was primarily attributable to the continued ramp-up of SL Bio Taiwan’s wholesale distribution model following the business transformation initiated in the third quarter of 2024, shifting from direct sales to individual end-users toward corporate distributors. Established distributor relationships and larger, more predictable business-to-business order volumes drove higher shipment levels, offsetting the lower per-unit pricing associated with wholesale transactions. Cost of Revenue Cost of revenue increased by approximately $0.09 million, or 12.0%, to approximately $0.83 million for the six months ended June 30, 2026, compared to approximately $0.74 million for the six months ended June 30, 2025. Cost of revenue consists primarily of purchase costs on products for resales, increasing in line with higher sales volume. Gross Profit Gross profit increased by 43.3% to approximately $0.56 million for the six months ended June 30, 2026, compared to approximately $0.39 million for the prior year period. Our gross profit margin improved to 40.2% from 34.5%, mainly driven by the reduction in purchase costs due to the establishment of stable relationships with suppliers, enabling favorable procurement terms. Operating Expenses Total operating expenses increased by approximately $0.72 million, or 36.1%, to approximately $2.72 million for the six months ended June 30, 2026, compared to approximately $2.00 million for the six months ended June 30, 2025. The increase was primarily driven by a 16.2% expansion in general and administrative expenses due to a 13.6% increase in office salaries from management team expansion and a 33.2% increase in professional service fees incurred during the listing process. Research and development expenses increased by 71.5% to approximately $1.23 million for the six months ended June 30, 2026, from $0.72 million in the prior year period. This was mainly due to increased salaries for R&D staff and milestone payments based on the progress of CD-19 Armed-T products and GDT cell therapy products. Net Loss Net loss for the six months ended June 30, 2026 was approximately $2.16 million, compared to a net loss of approximately $1.60 million for the six months ended June 30, 2025. Cash and Cash Equivalents As of June 30, 2026, SL Science's cash and cash equivalents stood at approximately $8.31 million compared to approximately $1.26 million as of December 31, 2025. The increase was driven primarily by net cash generated from financing activities of approximately $9.15 million, netted off with the net cash used in operating activities of approximately $2.09 million. Working capital stood at approximately $6.67 million. SL Science Major Developments and Outlook Gamma Delta T (GDT) Cell Therapy Platform
CD-19 Armed-T Therapy
Recent Corporate Milestones
About SL Science Holding Limited SL Science Holding Limited is a biomedical company specializing in developing innovative cellular and gene therapies. Established with a commitment to advancing regenerative medicine and cancer treatment, the Company hopes to utilize immune cell technologies to target cancer, thus potentially offering expansive medical applications for its products. With technologies such as Gamma Delta T cells targeting solid tumor indications including pancreatic and brain cancers, SL Science aims to create cellular therapies that the Company believes have the potential to advance the cell therapy and immuno-oncology sector within the broader biopharmaceutical industry. For more information, please visit the Company's website at: https://www.slbtgroup.com/ and follow SLBT on X, LinkedIn, FB, IG and Threads. Forward-Looking Statements This press release contains certain forward-looking statements within the meaning of the federal securities laws with respect to the business of SL Science. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions. Forward-looking statements are predictions, projections, and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. The data described above are preclinical and do not establish the clinical safety or efficacy of any product; preclinical results are frequently not predictive of clinical outcomes. Many factors could cause actual future events to differ materially, including the ability to implement the Company's business plans and clinical trials; to obtain and maintain regulatory approvals and rights under its license arrangements; the potential for its products to reach commercialization; and the Company's need for additional capital. The Company assumes no obligation to update these forward-looking statements, except as required by applicable law. Contact Details: SL Science Holding Limited WFS Investor Relations Inc. SL SCIENCE HOLDING LIMITED AND SUBSIDIARIES
SL SCIENCE HOLDING LIMITED AND SUBSIDIARIES
SL SCIENCE HOLDING LIMITED AND SUBSIDIARIES
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