Quarterly ResultMay 15, 2026, 07:07 AM
Satellos Q1 Net Loss $9.77M; Cash Runway Through 2027
AI Summary
Satellos Bioscience reported a net loss of $9.77 million for Q1 2026, an increase from $6.14 million in Q1 2025, driven by higher R&D and G&A expenses. The company successfully completed a public offering in February 2026, raising $57.2 million in gross proceeds, extending its cash runway through 2027. Clinical progress includes 11 active sites for the BASECAMP Phase 2 pediatric study, on track for Q3 2026 enrollment completion, and the initiation of the TRAILHEAD study in the U.S.
Key Highlights
- Net loss for Q1 2026 was $9.77 million, up from $6.14 million in Q1 2025.
- Research and development expenses increased to $7.31 million in Q1 2026 from $4.54 million in Q1 2025.
- General and administrative expenses rose to $2.73 million in Q1 2026 from $1.94 million in Q1 2025.
- Completed a February 2026 equity offering, raising $57.2 million in gross proceeds.
- Cash and cash equivalents increased to $18.70 million at March 31, 2026, from $9.80 million at December 31, 2025.
- Short-term investments grew to $51.21 million at March 31, 2026, from $17.91 million at December 31, 2025.
- Current cash available of $69.9 million provides a cash runway through 2027.
- BASECAMP Phase 2 pediatric study has 11 active sites and is on track to complete enrollment in Q3 2026.
- Initiated the TRAILHEAD study in the U.S. for adults aged 16-25 years.
Price Impact
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