Key Highlights

  • Pluri Inc. (NASDAQ:PLUR) traded at USD 1.03, down 8.04%, in pre-market trading on Tuesday, October 27, 2026; an auditor going concern paragraph accompanies cash, short-term deposits and restricted cash of USD 8.851 million at June 30, 2026.
  • Lakewood-Amedex Biotherapeutics (NASDAQ:LABT) traded at USD 0.2632, down 7.00%; cash was about USD 4.6 million against a quarterly net loss of about USD 3.8 million, and no going concern statement is cited for this name.
  • Steakholder Foods (NASDAQ:STKH) traded at USD 0.3749, down 6.28%; its filing states that substantial doubt exists about the ability to continue as a going concern, with cash of USD 1.1 million at June 30, 2026.
  • Profusa (NASDAQ:PFSA) traded at USD 0.7315, down 6.18%, with cash of USD 719,000 against liabilities of USD 28.2 million. No company-specific announcement dated on or just before the session accompanied any of the four moves.

Pluri Inc. (NASDAQ:PLUR): going concern with a past due loan

Pluri Inc. (NASDAQ:PLUR), a biotechnology company that runs a three-dimensional cell expansion platform across cell therapy, contract manufacturing and food technology, is the clearest case of going concern language carried by an auditor. The annual report on Form 10-K for the fiscal year ended June 30, 2026 states that existing resources cover operating obligations for less than three months from the date the statements were issued. The decline appears consistent with thin liquidity and a share price below the company's August financing.

The EUR 20 million European Investment Bank loan carries 4% interest, fell due on June 1, 2026 and had about EUR 4.1 million of accrued interest at year end. On Monday, August 17, 2026 the bank approved a proposed sale of the loan to a third party, and the company may seek to convert it into equity. The registered direct offering of Thursday, August 27, 2026 sold 2.23 million shares at USD 1.50 with warrants at USD 1.65, raising about USD 3.3 million gross.

The bull reading rests on the PluriCDMO unit, certified to ISO 13485:2016 in August 2026, and on the Phase I PROTO study of PLX-PAD in knee osteoarthritis, begun in January 2026. The bear reading is that the quote sits below the USD 1.50 offering price and that the company must regain the USD 35 million minimum market value of listed securities or meet an alternative standard. The share count was 12,344,736 on Wednesday, September 9, 2026.

Lakewood-Amedex (NASDAQ:LABT): the same question without the wording

Lakewood-Amedex Biotherapeutics Inc. (NASDAQ:LABT), a clinical-stage company that develops antimicrobial drugs based on its Bisphosphocin platform, shows a comparable funding question although no going concern statement is cited for it. Its quarterly report of Friday, August 14, 2026 shows no revenue for the three months ended June 30, 2026. General and administrative expense was about USD 3.3 million, against USD 489,000, with the company citing higher Nasdaq listing and compliance costs.

A private placement of Series C convertible preferred stock in April 2026 raised net proceeds of about USD 6.8 million. An independent research note of Wednesday, August 26, 2026 estimated that cash lasts through the end of 2026. The lead candidate Nu-3, a topical gel for infected diabetic foot ulcers, is being prepared for a Phase 2a trial, with no start date stated. The bull reading rests on a clear antimicrobial effect at Day 7 and Day 14, which could support a Phase 2b trial. The bear reading rests on the near-term financing need, dilution through new equity or conversion of the Series C preferred stock, and a price below USD 1.00, the level that the Nasdaq minimum bid price rule applies to over 30 consecutive business days.

Steakholder Foods (NASDAQ:STKH): going concern after repeated raises

Steakholder Foods (NASDAQ:STKH), a food technology company whose Perfecta plant-based meat range reached United States retail shelves in the Northeast, reported a total comprehensive loss of USD 3.3 million for the six months ended June 30, 2026, down 15% from USD 3.8 million. Cash was USD 3.1 million at December 31, 2025. The filing states that current cash is not sufficient to fund operations for at least 12 months, which links directly to the need for repeated equity raises.

About USD 4.3 million net was raised after the balance sheet date, in July and August 2026. A private placement of up to USD 10.5 million, announced on Friday, July 31, 2026, was priced at USD 2.00 per American depositary share, against a snapshot quote of USD 0.3749, a simple comparison of two published figures. The bull reading rests on the first United States shelf placement and the narrower loss. The bear reading rests on dilution, because Series E and F warrants for up to 3,500,000 shares become exercisable only after shareholder approval and registration, and on the change of the depositary ratio to one share per 12,000 ordinary shares effective Monday, July 27, 2026.

Profusa (NASDAQ:PFSA): a deficit that outweighs the certificate

Profusa (NASDAQ:PFSA), a medical technology company developing tissue-integrated biosensors, reported on Thursday, August 20, 2026 a net loss of USD 8.8 million for the quarter ended June 30, 2026 and USD 12.2 million for the first half. Total assets were USD 1.0 million at June 30, 2026, which left a stockholders' deficit of USD 27.1 million. No going concern statement is cited, yet the company borrowed USD 650,000 for near-term needs.

Debt and liability holders executed USD 10.7 million of Series A convertible exchange agreements. The latest release, of Thursday, October 15, 2026, announced an ISO 13485:2016 certificate covering manufacture at the Berkeley facility, although the European CE marking remains pending. The balance sheet rather than the certificate is therefore the dominant driver. The bull reading rests on the certificate and the option over G3 Vision Labs, signed on Friday, July 31, 2026, whose 2025 net revenues are estimated at about USD 111 million on unaudited management information. The bear reading rests on the option condition of at least USD 30 million of aggregate financings and on a one-year Mandatory Panel Monitor, which allows a delisting determination without a new compliance plan if the equity rule is failed.

Where Things Stand

The answer is that going-concern language works through the same channel in all four names, the gap between cash and obligations, but it hits each one differently. Pluri Inc. (NASDAQ:PLUR) pairs an auditor paragraph with a past due loan, Steakholder Foods (NASDAQ:STKH) pairs a statement of substantial doubt with an offering priced far above the quote, Lakewood-Amedex Biotherapeutics (NASDAQ:LABT) holds cash worth little more than one quarter of losses, and Profusa (NASDAQ:PFSA) carries liabilities far above its assets.

The next catalysts are any update on the European Investment Bank loan, the start of the Nu-3 trial, any Steakholder shareholder meeting notice, the G3 Vision exercise decision and the Federal Reserve decision on Wednesday, October 28, 2026, which follows the rate rise of Wednesday, September 16, 2026. Pre-market prices are thinly traded snapshots and can change before the open at 9:30 a.m. ET, and this is not investment advice.