Home / Going-concern warnings / NEXGEL, INC.
Filed 2025-11-12 路 Form 10-Q 路 Accession 0001493152-25-021738 nano
Price before filing: $45.6 (2025-11-11 close, split/dividend-adjusted)
Market cap at flag: $793,294 (2025-11-12) 路 Latest: $125,959 (2026-10-16)
| Window | NXGL | SPY | vs SPY | |
|---|---|---|---|---|
| 30 days | -26.8% | -0.2% | -26.6% | 2025-12-12 |
| 90 days | -42.1% | +1.6% | -43.7% | 2026-02-10 |
| 180 days | -73.5% | +8.9% | -82.3% | 2026-05-11 |
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: 2 insiders sold $69K (7 sales)
30 days after: none reported.
| Date | Insider | Type | Shares | Price | Value | 10b5-1 plan | Source |
|---|---|---|---|---|---|---|---|
| 2025-08-28 | Levy Adam R. Chief Executive Officer, Director | Sale | 4,000 | $2.47 | $10K | no | Form 4 |
| 2025-09-25 | Henry Scott Robert Director | Sale | 7,697 | $2.36 | $18K | yes | Form 4 |
| 2025-10-02 | Henry Scott Robert Director | Sale | 825 | $2.50 | $2K | yes | Form 4 |
| 2025-10-02 | Levy Adam R. Chief Executive Officer, Director | Sale | 1,600 | $2.50 | $4K | yes | Form 4 |
| 2025-10-03 | Henry Scott Robert Director | Sale | 7,175 | $2.55 | $18K | yes | Form 4 |
| 2025-10-03 | Levy Adam R. Chief Executive Officer, Director | Sale | 2,400 | $2.55 | $6K | yes | Form 4 |
| 2025-11-06 | Levy Adam R. Chief Executive Officer, Director | Sale | 4,000 | $2.52 | $10K | yes | Form 4 |
| 2025-11-12: red flag filed | |||||||
Open-market purchases and sales (Form 4 codes P and S) by officers, directors and 10% owners, by transaction date, from 2025-08-14 to 2025-12-12. 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.
"These conditions raise substantial doubt about the Company's ability to continue as a going concern."
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-Q (period 2025-09-30)
Why this score: quarterly (unaudited) disclosure
Read the original filing on SEC.gov →
Not investment advice. Automated summary; verify against the filing.
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