Quarterly ResultMay 11, 2026, 07:12 AM
Apogee Therapeutics Q1 Net Loss $74.1M; Zumilokibart Phase 3 AD Planned
AI Summary
Apogee Therapeutics reported its first quarter 2026 financial results and provided significant pipeline updates. The company announced that zumilokibart (APG777) is advancing across multiple indications, with Phase 3 initiation in atopic dermatitis (AD) expected later this year, following positive 52-week data from the APEX Phase 2 Part A trial. Apogee also strengthened its financial position with a $403 million public equity offering, boosting its cash reserves to $1.3 billion and extending its cash runway into 2029. Despite increased R&D and G&A expenses leading to a net loss of $74.1 million for the quarter, the company anticipates further pipeline progress with upcoming data readouts for APEX Phase 2 Part B and APG279.
Key Highlights
- Zumilokibart Phase 3 initiation in atopic dermatitis expected later this year.
- Cash, cash equivalents, and marketable securities totaled $1.3 billion as of March 31, 2026.
- Completed $403 million public equity offering, extending cash runway into 2029.
- Net loss for Q1 2026 was $74.1 million, compared to $55.3 million in Q1 2025.
- R&D expenses increased to $60.8 million in Q1 2026 from $46.4 million in Q1 2025.
- G&A expenses rose to $22.0 million in Q1 2026 from $16.7 million in Q1 2025.
- APEX Phase 2 Part B 16-week data in AD expected in Q2 2026.
- APG279 Phase 1b head-to-head interim 24-week data expected in 2H 2026.