Virax Biolabs details fiscal 2026 finances, Fosun supply deal, Nasdaq compliance

Virax Biolabs Group Limited published a shareholder update from CEO James Foster on July 16, 2026, alongside its fiscal 2026 Annual Report, filed July 2, 2026. As of March 31, 2026, Virax reported cash of $6.4 million, total assets of $8.3 million, total liabilities of $1.0 million, current assets of $6.8 million and current liabilities of $0.7 million.¹

On the expense side, research and development spending rose to $3.7 million in fiscal 2026 from $2.0 million in fiscal 2025, while general and administrative costs fell to $2.7 million from $4.0 million, and net loss narrowed to $5.0 million from $6.1 million.¹

After fiscal year end, the company raised additional cash: Virax completed an exercise of preferred investment options that brought in approximately $3.3 million in gross proceeds, adding to its liquidity and balance sheet.¹

On the commercial front, Virax entered a multi-country commercial supply agreement with Fosun Diagnostics covering ImmuneSelect in Thailand, Vietnam, Indonesia, the Philippines, Singapore and Malaysia, with initial focus on research-use-only immune profiling products for tuberculosis-related research in Thailand and possible expansion across Fosun's regional network.¹

Separately, following a 1-for-25 share consolidation, Nasdaq confirmed Virax had regained compliance with the minimum bid price requirement under Nasdaq Marketplace Rule 5550(a)(2), keeping its ordinary shares listed.¹

Foster said in the letter that the company's near-term focus is on advancing clinical validation for ViraxImmune, building a U.S. market-entry pathway, and converting ImmuneSelect opportunities into revenue.¹ The filing notes that ViraxImmune remains in development and is not approved for diagnostic use in any jurisdiction.¹