Quarterly ResultMay 15, 2026, 07:02 AM
Satellos Q1 Net Loss $9.8M; Advances Phase 2 Trials, $69.9M Cash Runway
AI Summary
Satellos Bioscience reported a net loss of $9.8 million for Q1 2026, an increase from $6.1 million in Q1 2025, primarily due to higher R&D expenses for clinical activities. The company successfully raised $57 million through an equity offering in February 2026, boosting its cash and equivalents to $69.9 million and providing a financial runway through 2027. Operationally, Satellos made significant progress in its Phase 2 clinical trials for SAT-3247, with 11 active sites for the BASECAMP pediatric study and enrollment on track for Q3 2026, while also initiating the TRAILHEAD adult study in the U.S.
Key Highlights
- Cash and cash equivalents: $69.9 million as of March 31, 2026, up from $27.7 million on Dec 31, 2025.
- Equity offering: Raised $57 million in February 2026, extending cash runway through 2027.
- Net loss Q1 2026: $9.8 million ($0.53 loss per share), compared to $6.1 million ($0.44 loss per share) in Q1 2025.
- R&D expenses Q1 2026: Increased to $7.3 million from $4.5 million in Q1 2025 due to clinical activities.
- G&A expenses Q1 2026: Increased to $2.7 million from $1.9 million in Q1 2025.
- BASECAMP study: 11 clinical trial sites active; enrollment on track to complete in Q3 2026.
- TRAILHEAD study: Initiated in the U.S. for adults aged 16-25 years.
Price Impact
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