NexGel Inc 2026年季度报告

FORM 10-Q (Mark One) For the quarterly period ended: March 31, 2026 OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ___________ Commission file number:001-41173 NexGel, Inc.(Exact name of registrant as specified in its charter) Registrant’s telephone number, including area code:(215) 702-8550 Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of theSecurities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to filesuch reports), and (2) has been subject to such filing requirements for the past 90 days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to besubmitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorterperiod that the registrant was required to submit such files). Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a nonaccelerated filer, a smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smallerreporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Large accelerated filer☐Non-accelerated filer☒Smaller reporting company☒ Accelerated filer☐ Emerging growth company☒ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition periodfor complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined by Rule 12b-2 of the Exchange Act). Yes☐No As of May 13, 2026 the registrant had 9,131,055 shares of common stock outstanding. NEXGEL, INC. TABLE OF CONTENTS PART I – FINANCIAL INFORMATION ITEM 1.Financial Statements3Condensed Consolidated Financial Statements (Unaudited)3Condensed Consolidated Balance Sheets as of March 31, 2026 and December 31, 20253Condensed Consolidated Statements of Operations for the Three Months Ended March 31, 2026 and 20254Condensed Consolidated Statements of Stockholders’ Equity for the Three Months Ended March 31, 2026and 20255Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2026 and 20256Notes to Condensed Consolidated Financial Statements7ITEM 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations26ITEM 3.Quantitative and Qualitative Disclosures About Market Risk31ITEM 4.Controls and Procedures31 ITEM 1.Legal Proceedings32ITEM 1A.Risk Factors32ITEM 2.Unregistered Sales of Equity Securities and Use of Proceeds32ITEM 3.Defaults Upon Senior Securities32ITEM 4.Mine Safety Disclosures32ITEM 5.Other Information32ITEM 6.Exhibits33 Table of Contents NEXGEL, INCCONDENSED CONSOLIDATED BALANCE SHEETSAS OF MARCH 31, 2026 AND DECEMBER 31, 2025(Unaudited)(in thousands, except share and per share data) NEXGEL, INC.CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONSFOR THE THREE MONTHS ENDED MARCH 31, 2026 AND 2025(Unaudited)(in thousands, except share and per share data) NEXGEL, INC.CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITYFOR THE THREE MONTHS ENDED MARCH 31, 2026 AND 2025(Unaudited)(in thousands, except share data) NEXGEL, INC.CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWSFOR THE THREE MONTHS ENDED MARCH 31, 2026 AND 2025(Unaudited)(in thousands) NEXGEL, INC.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(in thousands, except share and per share data) 1. Description of Business and Basis of Presentation NexGel, Inc. (“NexGel” or the “Company”) manufactures high water content, electron beam cross-linked, aqueous polymer hydrogels,or gels, used for wound care, medical diagnostics, transdermal drug delivery and cosmetics. The Company specializes in custom gelsby capitalizing on proprietary manufacturing technologies. The Company has historically served as a contract manufacturer, supplyingour gels to third parties who incorporate them into their own products. Beginning in 2020, we created two new lines of business for theCompany. First, we launched our own line of branded consumer products sold direct to consumers. Second, we expanded into customand white label opportunities, which focuses on combining our gels with proprietary branded products and white label opportunities.All of our gel products are manufactured using proprietary and non-proprietary mixing, coating and cross-linking technologies.Together, these technologies enable us to produce gels that can satisfy rigid tolerance specifications with respect to a wide range ofphysical characteristics (e.g., thickness, water content, adherence, absorption, moistur