CERo Therapeutics Holdings Inc (NASDAQ: CERO) is a clinical-stage biopharmaceutical company developing engineered T cell therapies targeting cancer. The company has not recognized revenue from any source as of the 10-K filed April 15, 2026, and does not expect to generate product sales revenue in the foreseeable future. Its lead program, CER-1236, is built on a proprietary T cell technology platform, with patent protection spanning ten patent families as of December 31, 2025, including four issued U.S. patents, ten pending U.S. applications, and twenty-six issued patents in international jurisdictions covering Europe and other markets. The company funds operations through equity raises, including approximately $6.2 million in net proceeds from an equity line of credit and approximately $4.2 million from a February 2025 public offering, both raised between November 2024 and December 31, 2025. CERo carries no product revenue and operates under ongoing Nasdaq compliance proceedings as of the filing date.

Revenue model

No revenue has been recognized as of the filing date (10-K, filed 2026-04-15). The company funds operations through equity issuances, including common stock offerings, preferred stock conversions, and warrants. Potential future revenue pathways disclosed include R&D services, development milestones, and royalties contingent on regulatory approval or third-party license agreements, none of which had materialized as of filing.

Products and services

CER-1236: lead engineered T cell product candidate targeting cancer, including lung cancer indications. Built on a proprietary chimeric engulfment receptor (CER) T cell technology platform. As of December 31, 2025, the patent portfolio includes ten patent families covering CER-1236 constructs, cellular compositions, combination therapy uses, and manufacturing processes.

Customers and end markets

No commercial customers as of the filing date. End market is oncology, with disclosed focus on lung cancer including small cell lung cancer (SCLC). Clinical development targets patients across localized, regional, and distant disease stages.

Value-chain role

Early-stage drug developer and IP holder. Relies on contract development and manufacturing organizations (CDMOs) for clinical trial material production, and on contract research organizations (CROs) and investigative sites for preclinical and clinical studies. Does not manufacture or sell commercial products.

Geographic exposure

Headquartered in the United States. Patent protection filed in the U.S. and international jurisdictions including Europe (France, Germany, Italy, Spain, United Kingdom, Denmark, Finland, Norway, Sweden). Clinical activities subject to EU and UK GDPR data transfer regulations.

Source: SEC 10-K, filed 2026-04-15

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