Quarterly ResultMay 12, 2026, 04:03 PM
Damora Therapeutics Q1 Net Loss $(27.8)M; Cash $532.9M After Offering
AI Summary
Damora Therapeutics reported a net loss of $(27.8) million for Q1 2026, a significant increase from the prior year, driven by higher R&D and G&A expenses. Despite the increased loss, the company's cash and cash equivalents surged to $532.9 million as of March 31, 2026, primarily due to net proceeds of $295.5 million from a February 2026 public offering of common stock. The company also announced a strategic shift to focus on its mutCALR portfolio, deprioritizing GB3226 development.
Key Highlights
- Net loss for Q1 2026 was $(27.8) million, compared to $(2.5) million in Q1 2025.
- Net loss per common share decreased to $(0.62) in Q1 2026 from $(1.92) in Q1 2025.
- Cash and cash equivalents increased to $532.9 million as of March 31, 2026, from $257.6 million at Dec 31, 2025.
- Net proceeds from the February 2026 public offering were approximately $295.5 million.
- Research and development expenses rose to $23.8 million in Q1 2026 from $0.7 million in Q1 2025.
- Net cash used in operating activities was $(20.6) million in Q1 2026, compared to $(2.4) million in Q1 2025.
- The company shifted its strategic focus to the mutCALR portfolio, deprioritizing GB3226 development.
- 42,005 Series C Preferred Stock converted into 42,005,000 Common Stock shares in February 2026.