Hepion Pharmaceuticals(OTC) HEPA

Hepion develops and licenses medical diagnostic tests for chronic diseases. Its products help doctors detect conditions like celiac disease and liver cancer early. These tests aim to support faster, more accurate diagnoses for patients and healthcare providers.

Test Tubes and Takeaways: What Hepion Sells

• Celiac Disease Test: Detects gluten intolerance; available in the European Union and select markets. 0% of revenue as of June 2025.
• Respiratory Multiplex Test: Identifies Covid, influenza, and RSV infections; sold in the EU and select markets. 0% of revenue as of June 2025.
• H. pylori Test: Screens for a common stomach infection; available in the EU and select markets. 0% of revenue as of June 2025.
• Liver Cancer (HCC) Test: Designed to help detect liver cancer; regulatory status not specified. 0% of revenue as of June 2025.
• Former Drug Candidate: Rencofilstat, a liver disease drug, was sold in May 2025.

Plot Twists and Pivots: Hepion’s Growth Moves

• In May 2025, licensed four diagnostic tests from New Day Diagnostics for $525,000 cash and $270,629 in stock.
• Sold all rights to rencofilstat to Panetta Partners in May 2025, ending drug development activities.
• Raised $9.0 million in January 2025 through an equity and warrant offering to repay debt and fund operations.
• Delisted from Nasdaq and moved to OTCQB in May 2025 after a failed merger with Pharma Two B in December 2024.

Why Hepion Isn’t Just Another Lab Coat

Hepion now focuses on licensing and commercializing diagnostic tests with existing regulatory approvals, rather than developing drugs in-house. This asset-light model reduces research costs and speeds up market entry in the EU and select regions. The company’s small team manages operations, licensing, and commercialization from its New Jersey headquarters.

Five Things You Need to Know

• No revenue reported for Q2 2025, Q2 2024, or Q2 2023.
• Net loss was $2 million in Q2 2025, improving 79.5% from Q2 2024.
• Cash used in operations was $1 million in Q2 2025, down 87.4% year-on-year.
• Cash balance was $2.9 million as of June 30, 2025, up from $0.4 million at year-end 2024.
• Company has 22 employees and operates as a single business segment.

Bottom Line

Hepion has shifted from drug development to licensing diagnostic tests, aiming for lower costs and faster market access. The company’s future depends on successful commercialization and securing new funding.