RANGE IMPACT, INC.
RNGE evidence brief
What we can confirm
- BioSniper Score:
- 3.4 / 10
- Market Cap:
- $94.5M
- Lead Asset:
- vbx-100 (Preclinical)
What it means
What to watch
Prepared research question
What matters most for RNGE—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · RNGE
RANGE IMPACT, INC. (RNGE) is a cannabinoid-based drug development company focused on glycosylated cannabinoid prodrugs, with its lead candidate VBX-100 targeting inflammatory gastrointestinal conditions, currently in preclinical development.
Key risk: Cash runway risk
BioSniper Score
Based on 3 of 6 signals
Limited data coverage
Market Cap
$94.5M
Cash Runway
—
Lead Asset
vbx-100 (Preclinical)
Next Catalyst
—
Financial data as of Jun 30, 2026.
Tracking 1 pipeline candidate for RANGE IMPACT, INC..
RANGE IMPACT, INC. (RNGE) is a cannabinoid-based drug development company focused on glycosylated cannabinoid prodrugs, with its lead candidate VBX-100 targeting inflammatory gastrointestinal conditions, currently in preclinical development.
- Lead drug candidate VBX-100 is a glycosylated cannabinoid prodrug targeting inflammatory conditions of the gastrointestinal tract, currently in preclinical phase [pipeline].
- As of 2026-06-30, the company reported cash & equivalents of $0.6M, total revenue of $1.1M, net income of -$1.9M, and shareholders' equity of $21.8M [sec].
- The DEA has classified VBX-100 as a Schedule I substance since May 2019, requiring strict licensing and diversion control for any development or clinical studies [sec_mda · as of 2024-03-29].
- The company estimates it may not have sufficient funds to operate over the next 12 months as of 2026-03-31 and is actively seeking additional financing [sec_mda · as of 2026-03-31].
- Graphium Biosciences, a wholly-owned subsidiary formed in October 2021, holds the drug development assets and is advancing a portfolio of glycosylated cannabinoid prodrugs [sec_mda · as of 2024-05-15].
What works
- The company has a novel drug delivery platform using glycosylated cannabinoid prodrugs designed to release cannabinoids locally in the colon via glycoside hydrolase enzymes, potentially reducing systemic side effects [pipeline].
- Graphium's lead candidate VBX-100 targets a specific niche (inflammatory GI conditions) with a differentiated mechanism, and the company has a plan to advance it through Phase II clinical trials by end of 2027, subject to funding [sec_mda · as of 2024-05-15].
- Shareholders' equity of $21.8M as of 2026-06-30 provides a capital base to support ongoing operations and development efforts [sec].
What to weigh
- Cash position is critically low at $0.6M as of 2026-06-30, and the company has repeatedly stated it may not have sufficient funds to operate over the next 12 months [sec_mda · as of 2026-03-31].
- The DEA's classification of VBX-100 as a Schedule I substance imposes significant regulatory hurdles, including the need for DEA licensing and strict diversion control, which could delay or limit development [sec_mda · as of 2024-03-29].
- The company has no approved products and is in preclinical stage, with no clinical data available; it faces a competitive landscape with at least six other entities in similar indications [pipeline].
- Net income was -$1.9M for the period ending 2026-06-30, indicating ongoing operating losses with no near-term revenue from product sales [sec].
From the filings
Quoted directly from source documents.
VBX-100 is a glycosylated cannabinoid prodrug targeting inflammatory GI conditions, currently preclinical.
“Pipeline Candidate: vbx-100 Indication: Inflammatory conditions of the gastrointestinal tract Phase: Preclinical Mechanism of Action: Glycosylated cannabinoid prodrug that targets delivery to the colon or large intestine where glycoside hydrolase enzymes cleave the glucose to release the cannabinoid locally.”
The DEA considers VBX-100 a Schedule I substance since May 2019.
“In May 2019, the DEA informed us that it had determined that they consider our VBX-100 prodrug a Schedule I substance.”
SEC MD&A · March 29, 2024
The company may not have sufficient funds to operate over the next 12 months as of 2026-03-31.
“the Company estimates that it may not have sufficient funds to operate its business over the next 12 months.”
SEC MD&A · March 31, 2026
Graphium Biosciences holds the drug development assets and was formed in October 2021.
“In October 2021, the Company formed Graphium as a wholly-owned subsidiary and transferred all of its drug development assets to this newly-formed entity.”
SEC MD&A · May 15, 2024
Risks & what to watch (4)›
Key risks
- Cash runway risk — Cash of $0.6M as of 2026-06-30 may be insufficient to fund operations beyond 12 months; company actively seeking financing [sec].
- DEA Schedule I classification — VBX-100 is a Schedule I substance, requiring DEA licensing and strict controls, which could delay or block clinical development [sec_mda · as of 2024-03-29].
- Preclinical stage with no revenue — No approved products; net loss of $1.9M as of 2026-06-30; all programs are preclinical with no clinical data [sec].
- Competitive landscape — At least six competitors in similar indications, some in Phase 2 or Phase 3, ahead of RNGE's preclinical stage [pipeline].
What to watch
- Ability to secure additional financing to extend cash runway beyond 12 months [sec_mda · as of 2026-03-31].
- Progress of VBX-100 through preclinical development and potential entry into Phase I/II clinical trials by end of 2027 [sec_mda · as of 2024-05-15].
- Any updates on DEA licensing or rescheduling of VBX-100 that could ease regulatory burden [sec_mda · as of 2024-03-29].
- Earnings reports and SEC filings for updated financial position and operational updates [catalyst].
Sources: Catalysts · Pipeline · SEC MD&A · Generated September 24, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 3 of 6 signals · derived from public data
Cash runway data unavailable
D/E 3.92 · 0% dilution
Lead: Preclinical
1 candidate
No upcoming catalysts tracked
No insider transactions in the last 180 days
Pipeline
Financials
Governance
Frequently asked questions
What is the AI investment thesis for RANGE IMPACT, INC.?
RANGE IMPACT, INC. (RNGE) is a cannabinoid-based drug development company focused on glycosylated cannabinoid prodrugs, with its lead candidate VBX-100 targeting inflammatory gastrointestinal conditions, currently in preclinical development.
What is RANGE IMPACT, INC.'s lead drug candidate?
RANGE IMPACT, INC.'s most advanced tracked candidate is vbx-100 (Preclinical) for Inflammatory conditions of the gastrointestinal tract.
Who is the CEO of RANGE IMPACT, INC.?
Mr. Michael R. Cavanaugh CPA, J.D. is the chief executive officer of RANGE IMPACT, INC. (RNGE).
Where is RANGE IMPACT, INC. headquartered?
RANGE IMPACT, INC. (RNGE) is headquartered in Cleveland, OH, United States.
What therapeutic areas does RANGE IMPACT, INC. focus on?
RANGE IMPACT, INC. develops therapies across Gastroenterology.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.