Virax Biolabs reports cash of $6.4M, regains Nasdaq compliance

Virax Biolabs Group Limited (NASDAQ: VRAX) filed its fiscal year 2026 annual report on July 2, 2026, reporting cash of $6.4 million, total assets of $8.3 million, total liabilities of $1.0 million, and shareholders' equity attributable to ordinary shareholders of $7.3 million as of March 31, 2026.

Research and development expenses rose to $3.7 million in fiscal 2026 from $2.0 million in fiscal 2025, while general and administrative expenses fell to $2.7 million from $4.0 million. Net loss narrowed to $5.0 million from $6.1 million in the prior year.

Subsequent to fiscal year end, the company completed the exercise of preferred investment options on July 10, 2026, generating approximately $3.3 million in gross proceeds. On July 9, 2026, Virax announced a multi-country commercial supply agreement with Fosun Diagnostics for its ImmuneSelect product across Thailand, Vietnam, Indonesia, the Philippines, Singapore, and Malaysia. The agreement initially covers research-use-only immune profiling products for tuberculosis-related research in Thailand.

Nasdaq confirmed on July 13, 2026, that Virax had regained compliance with the minimum bid price requirement under Nasdaq Marketplace Rule 5550(a)(2) following a 1-for-25 share consolidation.

"Filing the 20-F gives investors a clearer view of Virax's audited financial position," said James Foster, Chairman and Chief Executive Officer. "The subsequent financing, restoration of Nasdaq compliance and recent commercial progress with ImmuneSelect leave the Company better positioned to pursue near-term commercial opportunities while continuing the longer-term clinical and regulatory development of ViraxImmune™."

Based on the July 14, 2026, closing price of $3.74, the company's public market valuation was below its audited cash balance and shareholders' equity attributable to ordinary shareholders.

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