Cabbacis reported a net loss of $1.34 million for the first half of 2026, compared with $735,560 in the same period a year ago, while cash used in operations increased to $726,729 from $479,948. The development-stage tobacco company reported no revenue and said it had $61,220 in total liabilities. Cabbacis is preparing a Premarket Tobacco Product Application for its iBLEND very-low-nicotine cigarettes, which contain about 95% less nicotine than the average U.S. cigarette, and plans to begin a larger U.S. study following a six-week study of 70 adult smokers in Switzerland.
The company also expanded its portfolio with X95, a very-low-nicotine cigarette made without hemp, and formed a wholly owned subsidiary to handle final processing of its hemp blends. Cabbacis has engaged Moody Capital Solutions to raise up to $7.5 million through a Regulation A offering, with about $1.7 million raised to date, and said proceeds will support product development, FDA filings, manufacturing scale-up, and other corporate purposes. The company said it expects to introduce its products in select international markets beginning in the first half of 2027.
