Nexentis Technologies Inc (NASDAQ: NXTS) is a holding company with two operating segments: an early-stage oncology drug development subsidiary, MitoCareX, acquired in October 2025, and a solar energy project development subsidiary, Solterra Renewable Energy Ltd. MitoCareX is developing small molecule compounds targeting a mitochondrial transporter gene, with drug candidates aimed at overcoming drug resistance in EGFR tyrosine kinase inhibitor-treated non-small cell lung cancer and other oncology indications including pancreatic cancer. Solterra's business model centers on developing solar photovoltaic projects from land identification through permitting and grid connection, then selling those projects to third parties at various stages of development. The company generates no product revenue from either segment as of the fiscal year ended December 31, 2025. Research and development expenses were $179,000 for FY2025, compared to zero for FY2024, reflecting costs incurred following the MitoCareX acquisition. General and administrative expenses were $5,109,000 for FY2025, up 56% from $3,283,000 in FY2024. The company is pre-revenue, pre-clinical-stage in oncology, and reliant on equity and debt financing to fund operations.

Revenue model

No product or service revenue disclosed in the FY2025 10-K. Financing has included a standby equity purchase agreement and promissory notes carrying 8% annual interest with a 3% principal discount, providing up to $3,000,000 in pre-advances against a $20,000,000 investor commitment. Solterra generates potential proceeds from selling solar development projects to third parties at various development stages, but no specific revenue figures are disclosed in the filing excerpts.

Products and services

MitoCareX: small molecule compounds targeting a mitochondrial transporter gene, designed to sensitize lung adenocarcinoma cells to EGFR therapies and address drug resistance in EGFR TKI-treated NSCLC; additional oncology indications include pancreatic cancer. All compounds are pre-commercial with no manufacturing facilities owned or operated as of the filing date. Solterra: solar photovoltaic project development, including fixed and tracking facilities and storage solutions, with projects developed from land identification through permitting, grid connection assessment, and sale to third parties.

Customers and end markets

MitoCareX end markets: NSCLC adenocarcinoma patients with EGFR mutations (prevalence 14-38% of NSCLC cases per PMID 37240224) and pancreatic cancer patients, with an estimated global pancreatic cancer treatment market of approximately USD 3.8 billion in 2025 (Fortune Business Insights, cited in filing). No commercial customers exist as of FY2025. Solterra end markets: third-party buyers of solar PV development projects.

Value-chain role

MitoCareX occupies a preclinical drug discovery and development role with no manufacturing, sales, or commercial distribution capabilities as of the filing date; commercialization, if achieved, is intended to be conducted independently or with a partner. Solterra acts as a solar project developer, handling site identification, planning constraint analysis, facility design, and grid connection assessment, then exiting via project sales rather than operating assets long-term.

Geographic exposure

No specific geographic revenue breakdown is disclosed in the filing excerpts. Solterra operates through local subsidiaries in solar project development across unspecified countries or regions. MitoCareX targets the United States and potentially other regions for future commercialization.

Source: SEC 10-K, filed 2026-03-31

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