BioCorRx Inc.

What they do

Through subsidiaries, BioCorRx develops and provides addiction treatment solutions for substance use and related disorders. Its Beat Addiction Recovery program combines proprietary Cognitive Behavioral Therapy modules, mobile-app peer support, and medication prescribed by an independent treating physician. It also offers the UnCraveRx Weight Loss Program, a medication-assisted weight loss program with concierge wellness specialists. BioCorRx Pharmaceuticals Inc., its majority-owned clinical-stage subsidiary, is seeking FDA approval for BICX104, an implantable naltrexone pellet for alcohol and opioid use disorders.

Revenue drivers

• Beat Addiction Recovery — Substance use disorder recovery program combining proprietary CBT modules, mobile-app peer support and physician-prescribed medication; made available to healthcare providers.
• UnCraveRx Weight Loss Program — Medication-assisted weight loss program with concierge access to nutritionists, fitness experts and behavioral support, offered through healthcare providers.
• License and distribution agreements — Several agreements with unrelated third parties involving establishment of alcoholism and opioid addiction rehabilitation and treatment centers and creation of addiction rehabilitation programs.
• BICX104 development funding — Not a commercial product; BICX104 is a clinical-stage implantable naltrexone pellet supported by NIDA/NIH awards, including a March 1, 2024 grant of $11,029,977 under award number U01DA059994.

Recent performance

Annual revenue was $7,665 in 2024 and $797,244 in 2025. Net losses were $5.1M in 2024 and $3.4M in 2025, with diluted EPS of -$0.49 and -$0.19, respectively. Operating cash flow was -$1.1M in 2024 and -$2.3M in 2025; for 2025 the 10-K reports a loss from operations of $3,508,763 and negative operating cash flow of $2,298,291. Quarterly revenue was $178,238 for 2025-06-30, $635,224 for 2025-09-30, $214,539 for 2026-03-31 and $87,970 for 2026-06-30. At 2026-06-30, total assets were $1.9M, total liabilities $14.4M, shareholder equity -$12.2M and cash and equivalents $21,237.

Strategy

The company is developing BICX104 through a cooperative agreement with NIDA/NIH under award number UH3DA047925, funded by the NIH HEAL Initiative, and holds a March 1, 2024 NIDA grant of $11,029,977 for sustained-release naltrexone implant research in methamphetamine use disorder under award U01DA059994. Management states it anticipates continued operating losses as it executes 2026 development plans and other potential strategic and business development initiatives. Its stated plan includes continued control of expenses and obtaining equity or debt financing; the company has completed equity financings in the past. Management has also said it expects negative cash flows from operations at least into the near future.

Risks

• Going concern — The independent registered public accounting firm included a going concern explanatory paragraph in its report on the December 31, 2025 financial statements.
• Persistent losses and negative cash flow — The company has incurred significant losses since inception, with a 2025 loss from operations of $3,508,763 and negative operating cash flow of $2,298,291.
• Liquidity and financing need — At 2026-06-30 cash and equivalents were $21,237 against total liabilities of $14.4M and shareholder equity of -$12.2M, and management's plan depends on obtaining equity or debt financing.
• Regulatory approval and grant dependence — BICX104 remains clinical-stage and subject to FDA approval, and its development relies on NIDA/NIH cooperative agreements and grant awards such as UH3DA047925 and U01DA059994.

Outlook

Management states that it expects to continue incurring operating losses as it executes its 2026 development plans and other potential strategic and business development initiatives. It also expects negative cash flows from operations at least into the near future. The company's stated plan to continue operations includes controlling expenses and obtaining equity or debt financing. Management cautions that there can be no assurance that profitable operations could ever be achieved or, if achieved, sustained.