Home / Going-concern warnings / SANUWAVE Health, Inc.
Filed 2026-03-26 路 Form 10-K 路 Accession 0001628280-26-021443 micro
Price before filing: $19.93 (2026-03-25 close, split/dividend-adjusted)
Market cap at flag: $161.9M (2026-03-26) 路 Latest: $42.7M (2026-10-16)
| Window | SNWV | SPY | vs SPY | |
|---|---|---|---|---|
| 30 days | -7.4% | +8.9% | -16.3% | 2026-04-27 |
| 90 days | -57.0% | +11.9% | -68.9% | 2026-06-24 |
| 180 days | -76.7% | +18.3% | -95.1% | 2026-09-22 |
Return from the last close before the filing date to the first close on/after the window end. Pending windows have not fully elapsed. Past performance says nothing certain about the future.
90 days before the flag: no open-market insider sales or purchases reported.
30 days after: 1 insider sold $337K (3 sales)
| Date | Insider | Type | Shares | Price | Value | 10b5-1 plan | Source |
|---|---|---|---|---|---|---|---|
| 2026-03-26: red flag filed | |||||||
| 2026-04-17 | Opaleye Management Inc. 10% owner | Sale | 11,267 | $20.46 | $231K | no | Form 4 |
| 2026-04-17 | Opaleye Management Inc. 10% owner | Sale | 5,000 | $20.46 | $102K | no | Form 4 |
| 2026-04-21 | Opaleye Management Inc. 10% owner | Sale | 202 | $20.50 | $4K | no | Form 4 |
Open-market purchases and sales (Form 4 codes P and S) by officers, directors and 10% owners, by transaction date, from 2025-12-26 to 2026-04-25. Excludes option exercises, grants, gifts and tax withholding. Amended filings replace the originals; joint filings count once. Foreign private issuers do not file Form 4. Many insider sales are pre-scheduled (10b5-1 plans) and are not by themselves a sign of wrongdoing.
"The Company has historically experienced recurring net losses, accumulated deficits, negative working capital, and significant debt maturities, which raised substantial doubt about its ability to continue as a going concern."
Quoted from the filing. Source
The filing states that substantial doubt exists about the company's ability to continue as a going concern: it may not have enough cash to last the next 12 months. Expect dilution, debt deals or worse. An auditor's going-concern paragraph is the strongest form of this warning.
Source: management disclosure in Form 10-K (period 2025-12-31)
Why this score: also within 90 days: Non-reliance / restatement
Read the original filing on SEC.gov →
Not investment advice. Automated summary; verify against the filing.
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