Reported a net loss of $1.4 million for the three months ended March 31, 2026, compared to a $1.6 million loss in the same period of 2025. Revenue for the quarter was $0, down from $3,000 in Q1 2025. Operating expenses decreased to $1.46 million from $1.66 million, primarily driven by a 27% reduction in research and development spending. Cash and cash equivalents stood at $5.72 million as of March 31, 2026, compared to $7.21 million at year-end 2025. The company continues to advance its clinical trials, including the CELZ-201 ADAPT study for chronic lower back pain.