Quarterly ResultAug 7, 2026, 07:07 AM
Purple Biotech Q2 Net Income $0.4M; Cash $6.1M, Runway to Mid-2027
AI Summary
Purple Biotech Ltd. reported a net income of $0.4 million for the second quarter of 2026, a significant improvement from a net loss of $1.1 million in the prior year period. The company's cash position stood at $6.1 million as of June 30, 2026, which is expected to fund operations through mid-2027. Additionally, Purple Biotech announced new positive preclinical data for its lead candidate, IM1240, at the EACR 2026 Annual Congress, further supporting its differentiated profile and planned entry into clinical studies in 2027.
Key Highlights
- Net income for Q2 2026 was $0.4 million, compared to a net loss of $1.1 million in Q2 2025.
- Cash and cash equivalents totaled $6.1 million as of June 30, 2026, providing a runway through mid-2027.
- Research and Development expenses increased to $0.7 million in Q2 2026 from $0.6 million in Q2 2025.
- General and Administrative expenses decreased to $0.6 million in Q2 2026 from $0.7 million in Q2 2025.
- Operating loss for Q2 2026 was $1.3 million, an increase of $0.1 million from Q2 2025.
- New preclinical data for IM1240 was presented at EACR 2026, validating its anti-tumor activity and safety.
- IM1240, a tri-specific antibody, is targeted to enter clinical studies in 2027.
- IM1240 demonstrated an 8-fold longer half-life and 16-fold greater systemic exposure than its non-capped variant.
Price Impact
More from PPBT