Virax Biolabs Updates Shareholders on Financials, Financing, and Commercial Deal
Biotechnology firm Virax Biolabs provided an update covering its fiscal 2026 annual report, recent financing, and a commercial supply agreement with Fosun Diagnostics.
London, July 16, 2026 – Virax Biolabs Group Limited (NASDAQ: VRAX), a biotechnology company focused on immune response detection, today provided shareholders with an update on its fiscal 2026 annual report and subsequent commercial, financing, and Nasdaq compliance developments.
The company's fiscal 2026 annual report, filed July 2, 2026, reflects a cash position of $6.4 million, total assets of $8.3 million, and shareholders' equity of $7.3 million as of March 31, 2026. Following the fiscal year, Virax completed the exercise of preferred investment options, generating approximately $3.3 million in gross proceeds, further bolstering its liquidity and balance sheet.
In commercial news, announced July 9, 2026, Virax entered into a multi-country commercial supply agreement with Fosun Diagnostics for its ImmuneSelect product across six Southeast Asian markets. This agreement supports near-term commercial execution and potential regional expansion.
Virax also confirmed on July 13, 2026, that it had regained compliance with Nasdaq's minimum bid price requirement, following a 1-for-25 reverse stock split. Chief Executive Officer James Foster stated that these developments position the company better to pursue commercial opportunities while continuing clinical development.