Home / Going-concern warnings / HARVARD BIOSCIENCE INC
Filed 2026-03-13 路 Form 10-K 路 Accession 0001171843-26-001548 nano
Price before filing: $4.94 (2026-03-12 close, split/dividend-adjusted)
Market cap at flag: $21.2M (2026-03-13) 路 Latest: $36.6M (2026-10-16)
| Window | HBIO | SPY | vs SPY | |
|---|---|---|---|---|
| 30 days | -5.7% | +3.3% | -9.0% | 2026-04-13 |
| 90 days | +34.4% | +11.1% | +23.3% | 2026-06-11 |
| 180 days | +60.9% | +15.1% | +45.9% | 2026-09-09 |
Return from the last close before the filing date to the first close on/after the window end. Pending windows have not fully elapsed. Past performance says nothing certain about the future.
90 days before the flag: no open-market insider sales or purchases reported.
30 days after: 4 insiders bought $202K (5 purchases)
| Date | Insider | Type | Shares | Price | Value | 10b5-1 plan | Source |
|---|---|---|---|---|---|---|---|
| 2026-03-13: red flag filed | |||||||
| 2026-03-16 | Duke John D Chief Executive Officer, Director | Purchase | 5,000 | $5.01 | $25K | no | Form 4 |
| 2026-03-16 | Frost Mark T Chief Financial Officer | Purchase | 5,000 | $5.00 | $25K | no | Form 4 |
| 2026-03-16 | Snider William Director | Purchase | 12,525 | $4.99 | $62K | no | Form 4 |
| 2026-03-17 | DENELSKY STEPHEN J Director | Purchase | 10,000 | $4.87 | $49K | no | Form 4 |
| 2026-03-17 | Snider William Director | Purchase | 8,475 | $4.85 | $41K | no | Form 4 |
Open-market purchases and sales (Form 4 codes P and S) by officers, directors and 10% owners, by transaction date, from 2025-12-13 to 2026-04-12. Excludes option exercises, grants, gifts and tax withholding. Amended filings replace the originals; joint filings count once. Foreign private issuers do not file Form 4. Many insider sales are pre-scheduled (10b5-1 plans) and are not by themselves a sign of wrongdoing.
"As of December 31, 2024 and in the quarters ended March 31, 2025, June 30, 2025 and September 30, 2025, the anticipated maturity of the Company's Amended Credit Agreement (defined in Note 10) on December 22, 2025, together with uncertainty as to the Company's ability to comply with future covenants under the terms of the Amended Credit Agreement, raised substantial doubt about the Company's ability to continue as a..."
Quoted from the filing. Source
The filing states that substantial doubt exists about the company's ability to continue as a going concern: it may not have enough cash to last the next 12 months. Expect dilution, debt deals or worse. An auditor's going-concern paragraph is the strongest form of this warning.
Source: management disclosure in Form 10-K (period 2025-12-31)
Read the original filing on SEC.gov →
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