RetinalGenix Technologies Inc.

What they do

RetinalGenix is developing two retinal imaging devices: a portable Retinal Imaging Screening Device and RetinalCam, an in-home patient-activated monitoring device. Its wholly owned subsidiary DNA/GPS Inc. is developing pharmacogenetic mapping and testing, with GPS oral swab tests planned for late 2026. The company is also developing RTG-2023 for dry age-related macular degeneration and RTG-2024 for Alzheimer's syndrome dementia, and a patient-controlled anonymized database called the RECAD AI system.

Revenue drivers

• DNA/GPS genetic testing — Planned first product line, with GPS oral swab tests targeted for launch in late 2026 and a second test for wet AMD positive responders targeted for 2027; expected to be the initial source of revenue.
• RetinalCam and Retinal Imaging Screening Device — Device sales are not expected until development is complete; RetinalCam launch is targeted for the second half of 2026 and the imaging platform is expected in beta tests in 2026 with potential commercialization in 2027.
• Pharmaceutical therapies RTG-2023 and RTG-2024 — Repurposed drugs for dry AMD and Alzheimer's syndrome dementia are in planning for clinical studies and are not expected to generate revenue near term.
• RECAD AI database — A patient-controlled genetic and imaging database is under development and the company does not expect revenue from it until development is successfully completed.

Recent performance

RetinalGenix has no products approved for sale and has generated no revenue from product sales. Net loss was $2.4M in 2025, $4.3M in 2024, $2.1M in 2023, $3.9M in 2022, and $2.2M in 2021. Operating cash flow was negative $558,350 in 2025, negative $741,936 in 2024, negative $451,661 in 2023, negative $199,287 in 2022, and negative $1.2M in 2021. At June 30, 2026, total assets were $32,215, total liabilities were $2.7M, and shareholder equity was negative $2.6M. Accumulated deficit was $17,858,617 at December 31, 2025.

Strategy

The company's stated mission is to prevent vision loss and blindness from diabetic retinopathy and maculopathy, including dry and wet age-related macular degeneration. It plans to launch RetinalCam in the second half of 2026 and GPS oral swab genetic tests in late 2026. It intends to expand the Pearl IRB study to multistate physicians in winter 2026 or early 2027, with initial analysis thereafter informing clinical trial plans. Management says it needs approximately an additional $7,000,000 to complete genetic testing products, finish RetinalCam design and testing, develop networking agreements, and create and test the RECAD AI database. It expects to fund these through equity or debt sales and potential strategic partnerships.

Risks

• No revenue and uncertain profitability — The company has no products approved for sale, has generated no revenue from commercial sales to date, and expects to operate at a net loss for at least the next several years.
• Need for substantial additional capital — Management states it needs approximately $7,000,000 more for planned activities and may be unable to raise funds on favorable terms or at all, which could force delays, reductions, or termination of development.
• Regulatory and clinical trial uncertainty — The company's product candidates require regulatory clearance, and there is no assurance that its products will be cleared for sale in the U.S. or elsewhere or successfully commercialized.
• Reliance on third parties — The company depends on third-party organizations including Pearl IRB, Seven Springs Surgery Center, and a contracted clinical resource organization, and any failure by these parties could delay development.

Outlook

Management expects to launch RetinalCam in the second half of 2026 and GPS oral swab genetic tests in late 2026. The Pearl IRB study is expected to expand to multistate physicians in winter 2026 or early 2027, with initial analysis shortly thereafter to inform clinical trial plans. The company also plans to continue development of RTG-2023 and RTG-2024, subject to adequate funding. It expects to fund these efforts through equity or debt securities and potential strategic partnerships, though no assurance is given that funds will be available.