NIKA PHARMACEUTICALS INC.
Key statistics
from XBRL data in SEC filingsAI briefing
from the latest 10-K, 10-Q and 8-K eventsNika Pharmaceuticals, Inc. is a Colorado-incorporated company with no reported revenue that holds exclusive production and distribution rights to a late-1990s HIV drug candidate, several dietary supplements, and generic tablet technologies, largely through a Bulgarian subsidiary.
What they do
Nika Pharmaceuticals holds exclusive rights agreements for the production and distribution of Thymus Nuclear Glycoprotein (TNG), a prescription drug candidate licensed from VITAL FE Joint Stock Company, and the dietary supplements Carotilen and Physiolong, licensed from MICAR 11 LTD. Through a Joint Business Agreement with Immunotech Laboratories BG, Ltd., it is pursuing registration and production of products based on the Inactivated Pepsin Fraction (IPF) platform, and it holds exclusive representation rights for six additional dietary supplements. Following a February 2024 merger with Nika BioTechnology, Inc., the company holds an 80% controlling interest in Nika Europe, Ltd., which is preparing construction of a pharmaceutical factory in Europe.
Revenue drivers
- TNG (Thymus Nuclear Glycoprotein) — Exclusive 15-year rights from VITAL for production and distribution; no revenue has been reported from this product, and the underlying Phase III HIV trial was conducted in 1997-1998 on 20 patients.
- Carotilen and Physiolong dietary supplements — Exclusive 15-year rights from MICAR 11 LTD. to produce and distribute two supplements; no revenue has been reported from these products.
- IPF platform products — Joint Business Agreement with Immunotech Laboratories BG, Ltd. for registration, production, and distribution of medicinal products based on the Inactivated Pepsin Fraction platform under five U.S. patents; no revenue reported.
- Generic drug and supplement technologies — On April 12, 2024, Nika Europe acquired four technologies from AIPFPCB for 75,000 BGN (about $42,491), three for generic tablet drugs and one dietary supplement; no revenue reported to date.
Recent performance
The company reported no revenue in any annual period from 2021 through 2025, and no quarterly revenue except $156 in the quarter ended June 30, 2024. Annual net losses were $3.2 million in 2022, $64,833 in 2023, $95,792 in 2024, and $76,398 in 2025. Operating cash flow was negative $154,932 in 2024 and negative $79,654 in 2025. As of June 30, 2026, total assets were $9,942, total liabilities were $340,624, and shareholder equity was negative $330,682, with cash and equivalents of $2,932.
Strategy
Management is redirecting the company toward production and distribution of licensed pharmaceutical and supplement products following a change of control. The February 2024 merger with Nika BioTechnology, Inc. raised its stake in Nika Europe, Ltd. to 80%, and Nika Europe is preparing to build a pharmaceutical factory with facilities for injectable, tablet, and other forms. In April 2024, Nika Europe acquired three generic tablet drug technologies and one supplement technology for 75,000 BGN, paid by officer and director Dimitar Slavchev Savov. The company also holds exclusive rights to six additional dietary supplements for sale across Europe, Asia, Africa, South America, North America, and Australia.
Risks
- No revenue and accumulated losses — The company has reported no annual revenue from 2021 through 2025 and had negative shareholder equity of $330,682 at June 30, 2026.
- Minimal cash and working capital — Cash and equivalents were $2,932 at June 30, 2026 against total liabilities of $340,624.
- Dependence on licensed third-party rights — Substantially all of the company's product rights derive from exclusive agreements with VITAL, MICAR 11 LTD., Immunotech Laboratories BG, and Dimitar Slavchev Savov, and the company does not own the underlying technology for TNG.
- Limited clinical and regulatory basis — The TNG HIV clinical trial referenced in the filings was a Phase III trial conducted in 1997-1998 in Sofia on 20 patients, and the product has not been shown in the filings to hold U.S. regulatory approval.
Outlook
Management states that Nika Europe is preparing construction of a pharmaceutical factory intended to have enough production capacity to secure the needs of Nika, and that the company is pursuing registration, production, and distribution of its licensed products. The filings describe the company as changing its business focus following a change of control, and describe risks including availability of capital and regulatory changes. No revenue guidance or timeline for product commercialization is provided in the excerpts.