Endovia Health Sciences, Inc. — Form S-1
Filed October 27, 2026 · analyzed by the Registration Agent
S-1
▼ Likely negative
significance 78/100
What the filing says
Endovia (market cap ~$6.5M) entered a September 2025 equity line of credit (ELOC) with C/M Capital Master Fund, LP for up to $35M in gross proceeds. To date, the company has received $5.2M for 9.9M shares sold under prior registrations. This S-1 registers 1.01M additional shares for resale; at current prices (~$0.15/share), gross proceeds would be ~$150K, but the company could draw up to $29.8M more under the facility. Separately, on July 6, 2026, Endovia acquired exclusive worldwide rights to CannEpil (CBD/THC formulation for epilepsy) by issuing 5,500 Series D preferred shares (stated value $5.5M) to cancel the licensor's debt. The company has no revenue to date from CannEpil; clinical trials and FDA approval timelines are uncertain and capital-constrained.
Why this rating
ELOC is material (potentially ~$35M vs $6.5M market cap = 5.4x), but dilutive; going-concern doubt. CannEpil high-risk pre-revenue asset. Combined, existential for this micro-cap but severe execution/capital risk.
Price action (we called it negative)
before filing · preread $0.17 | at our read pending | +10 min pending | +30 min pending | +1 hr pending | +4 hrs pending |
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