Hyperion DeFi Inc 2026年季度报告

FORM10-Q ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGEACT OF 1934 For the quarterly period ended: March 31, 2026 OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGEACT OF 1934 For the transition period fromtoCOMMISSION FILE NUMBER: 001-38365HYPERION DEFI,INC.(Exact name of Registrant as Specified in Its Charter) Indicate by check mark whether the registrant: (1)has filed all reports required to be filed by Section13 or 15(d)of theSecurities Exchange Act of 1934 during the preceding 12months (or for such shorter period that the registrant wasrequired to file such reports), and (2)has been subject to such filing requirements for the past 90days. Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to besubmitted pursuant to Rule405 of Regulation S-T (§232.405 of this chapter) during the preceding 12months (or forsuch shorter period 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 non-accelerated filer, asmaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,”“accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule12b-2 of the Exchange Act. Large accelerated filer☐ Non-accelerated filer☒ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transitionperiod for complying with any news or revised financial accounting standards provided pursuant to Section13(a)ofthe Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Act). Yes☐No☒ The number of outstanding shares of the registrant’s common stock was15,157,747 as of May 13, 2026. HYPERION DEFI,INC. FORM10-Q FOR THE QUARTERLY PERIOD ENDED MARCH 31, 2026 TABLE OF CONTENTS PARTI - FINANCIAL INFORMATION Item1.Financial Statements.2Condensed Balance Sheets as of March 31, 2026 (Unaudited) and December 31, 20252Unaudited Condensed Statements of Operations for the Three Months Ended March 31, 2026 and 20253Unaudited Condensed Statements of Changes in Stockholders’ Equity (Deficit) for the Three Months EndedMarch 31, 2026 and 20254Unaudited Condensed Statements of Cash Flows for the Three Months Ended March 31, 2026 and 20255Notesto Unaudited Condensed Financial Statements7Item2.Management’s Discussion and Analysis of Financial Condition and Results of Operations.28Item3.Quantitative and Qualitative Disclosures About Market Risk.40Item4.Controls and Procedures.40PARTII - OTHER INFORMATIONItem1.Legal Proceedings.42Item1A.Risk Factors.42Item2.Unregistered Sales of Equity Securities and Use of Proceeds.44Item3.Defaults Upon Senior Securities.44Item4.Mine Safety Disclosures.44Item5.Other Information.44Item6.Exhibits.45SIGNATURES47 PARTI– FINANCIAL INFORMATION HYPERION DEFI,INC. Condensed Balance Sheets HYPERION DEFI,INC. Condensed Statements of Operations(unaudited) HYPERION DEFI,INC. Condensed Statements of Changes in Stockholders’ Equity (Deficit)(unaudited) [1]Includes gross proceeds of $6,981,098 less total issuance costs of $315,716.[2]Includes gross proceeds of $5,851,007 less total issuance costs of $187,741.[3]Includes gross proceeds of $1,039,206 less total issuance costs of $116,456.[4]Incremental value from the warrant inducement entered into on January 16, 2025.[5]Non-cash warrant modification and additional warrants issuance costs related to the warrant inducement areshown as a separate line item for clarity. The accompanying notes are an integral part of these condensed financial statements. HYPERION DEFI,INC. Condensed Statements of Cash Flows(unaudited) HYPERION DEFI,INC. Condensed Statements of Cash Flows, continued(unaudited) HYPERION DEFI, INC. NOTES TO CONDENSED FINANCIAL STATEMENTS (UNAUDITED) Note1– Business Organization, Nature of Operations and Basis of Presentation Hyperion DeFi, Inc. (“Hyperion DeFi” or the “Company”) is the first U.S. publicly listed company building onHyperliquid. Hyperion DeFi is working to provide its shareholders with simplified exposure to the Hyperliquidecosystem. HYPE is the native token of Hyperliquid, a decentralized Layer-1 blockchain designed for high-frequency, transparenttrading. Hyperliquid supports fully on-chain perpetual futures and spot order books, operating with block times ofapproximately 70 milliseconds. Hyperion DeFi’s strategy is designed to allow shareholders to benefit from a graduallycompounding exposure to HYPE, both from its native staking yield and additional revenues generated from its uniqueon-chain utility. Through April 2026, the Company was also conducting research and development activities related to its proprietaryOptejet User Filled Device, designed to work with a variety of topical ophthalmic liquids, including artificial te