Argent BioPharma (ASX:RGT) Refocuses on CannEpil and Drug Development After Cutting Half-Year Loss by 76%

Aditi Sarkar

09 November 2026 04:59 PM AEDT

Argent BioPharma (ASX:RGT) Refocuses on CannEpil and Drug Development After Cutting Half-Year Loss by 76%

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Highlights

Argent BioPharma shares were trading at A$0.019 on 9 November 2026, valuing the company near A$2.24 million.
The net loss for the half-year to 31 December 2025 fell 76% to A$2.94 million.
Formal Supply of EU-GMP cannabinoid ingredient began for University Medical Centre Ljubljana in Slovenia, replacing the earlier pilot.
The auditor flagged material uncertainty about going concern, with a Working Capital Deficit of A$7.2 million.

Argent BioPharma Ltd (ASX:RGT) was trading at A$0.019 on 9 November 2026, giving the neurology-focused drug developer a Market Capitalisation of about A$2.24 million. The shares are down roughly 75% over twelve months, reflecting a restructuring and a stretched balance sheet. The company's most recent half-year report, for the period to 31 December 2025, set out a leaner Business centred on CannEpil, a cannabinoid formulation for drug-resistant epilepsy.

Smaller Loss and Early Revenue

Argent reported a net loss of A$2.94 million for the half-year, down 76% from A$12.16 million a year earlier. Revenue was A$171,499, up from A$4,283, including pharmaceutical sales of A$166,181.

Operating cash outflow was A$2.61 million, funded by financing inflows of A$3.12 million. Cash at 31 December 2025 was A$1.53 million, compared with A$1.02 million at 30 June 2025.

Hospital Supply Milestone in Slovenia

The company began formal supply of EU-GMP cannabinoid active pharmaceutical ingredient to University Medical Centre Ljubljana, moving from a pilot arrangement to routine hospital use. The ingredient is produced by PHCANN International and NYSK Holdings, one of Argent's EU-GMP Manufacturing partners.

A peer-reviewed case study published in the International Journal of Clinical Medicine and Case Reports described successful treatment of a paediatric patient with Lennox-Gastaut Syndrome using CannEpil.

Restructuring and the AusCann Transaction

Manufacturing in Slovenia and Malta has ceased, and the Slovenian Subsidiary was liquidated in December 2025. The company said it is refocusing on Research and Development and its lead drug candidates, while continuing to support patients under the special access scheme.

A binding agreement with AusCann Group Holdings was signed on 14 January 2026 and later restructured. The revised deal covers AusCann's 48% interest in CannPal Animal Therapeutics and an option to acquire full ownership of the Neuvis drug-delivery platform intellectual property. Completion required Shareholder approval.

Balance Sheet and Going Concern

Total liabilities were A$10.46 million against total Assets of A$2.01 million, leaving net liabilities of A$8.44 million. The auditor included an emphasis of matter on material uncertainty about the Going Concern assumption.

Convertible note facilities with Mercer were amended in November 2025, with the minimum conversion price cut to A$0.04 and Maturity extended to 28 November 2026. The company is also negotiating changes to conversion terms on part of its convertible debt.

Future Outlook

The report contains no formal revenue or Earnings guidance. The company's outlook depends on completing the AusCann transaction, advancing its clinical pipeline and raising additional capital. More recent developments, including licensing and financing announcements, should be checked against the company's latest ASX releases, as this article draws on the half-year report.

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