Mosaic ImmunoEngineering, Inc.

What they do

Mosaic is a development-stage biotechnology company advancing and eventually commercializing immunotherapies for cancer treatment. Historically, it licensed the cowpea mosaic virus (CPMV) platform from Case Western Reserve University, but that license was terminated on March 22, 2024. The company now intends to acquire rights to Oncotelic Therapeutics' clinical-stage necroptosis cancer therapies and non-exclusive access to AI technologies for identifying immunotherapy combinations, though the binding term sheet expired on June 30, 2025.

Revenue drivers

• No commercial products — The company has no approved products or recurring revenue streams; operations are entirely research and development.

Recent performance

For the year ended December 31, 2025, the company reported a net loss of $687,846 and diluted EPS of -$0.10, an improvement from a net loss of $921,983 in 2024. Operating cash flow was -$111,397 in 2025, down from -$241,159 in 2024. As of March 31, 2026, cash and equivalents totaled $72, with total assets of $9,828 and total liabilities of $7.7 million, resulting in negative shareholder equity of $7.7 million.

Strategy

The company's strategy is to leverage its industry experience and immunotherapy expertise to identify, develop, and commercialize product candidates. It plans to license or acquire new product candidates, as evidenced by the binding term sheet with Oncotelic Therapeutics to acquire rights to VDAs and AI technologies. However, the term sheet expired on June 30, 2025, and discussions are ongoing to bring in a technology portfolio to achieve its goals.

Risks

• Going concern risk — The company does not have sufficient working capital to fund existing liabilities or planned operations for the next twelve months and may be forced to cease operations if unable to secure funding.
• Lack of revenue — The company has no approved products and has incurred operating losses since inception, with no current revenue streams.
• Dependence on external financing — The company relies on convertible notes and other financing; as of March 31, 2026, it held only $72 in cash, underscoring its dependence on raising additional capital.
• Transaction uncertainty — The Oncotelic binding term sheet expired on June 30, 2025, and the acquisition remains uncertain, subject to due diligence, shareholder approval, and waivers from convertible note holders.

Outlook

Management states that the company may be required to cease operations if it cannot secure sufficient funding. The binding term sheet with Oncotelic expired, but discussions are ongoing to bring in a technology portfolio. The company's ability to continue as a going concern depends on raising additional capital.