Fractyl Health Inc. (NASDAQ:GUTS) rose 20.89% in after-hours trading to $0.52 on Tuesday after reporting fourth-quarter 2025 results and new data from its REMAIN-1 Midpoint Cohort, a pilot study of its investigational outpatient, non-drug procedure to maintain weight loss after GLP-1 therapy.
What Do The Q4 Results Say?
Fractyl reported the following metrics, compared to the prior year’s quarter:
| Metric | Q4 2025 | Q4 2024 |
|---|---|---|
| Research and Development Expenses | $16.5M | $20.3M |
| Selling, General and Administrative Expenses | $6.8M | $4.9M |
| Net Loss | $43.7M | $25.0M |
| Adj. EBITDA | -$21.2M | -$22.1M |
The company said research and development spending fell after priorities shifted in the first quarter of 2025, while selling, general and administrative costs increased due to financing commissions in August 2025. The net loss grew primarily because of a $20.2 million non-cash adjustment for warrant liabilities.
Full Year Results
For the full year 2025, Fractyl reported cash and equivalents of $81.5 million as of December 31, 2025, plus $4.1 million in subsequent warrant exercise proceeds received in January 2026.
The …
