Climb Bio, Inc.

Climb Bio, Inc. reported a net loss of $13.5 million for the second quarter of 2026 and $27.2 million for the six months ended June 30, 2026. The company significantly strengthened its financial position by raising $103.4 million through a private placement of common stock and pre-funded warrants. This capital raise increased cash, cash equivalents, and marketable securities to $239.2 million, providing sufficient liquidity for at least the next twelve months.

Climb Bio, Inc. reported its financial results for the second quarter ended June 30, 2026, highlighting a strong cash position of $239.2 million, which is expected to fund operations into the second half of 2028. The company provided positive updates on its clinical pipeline, including the anticipated initiation of a CLYM116 Phase 2 trial in IgA nephropathy in Q3 2026 and expected data readouts for budoprutug programs in Q4 2026. This progress is supported by a recent $110 million private placement financing and the appointment of a new board member.

Climb Bio reported its second quarter 2026 financial results and provided significant business updates, highlighting a strong pipeline progression. The company extended its cash runway into the second half of 2028, supported by a recent $110 million private placement. Key clinical milestones include the anticipated initiation of the CLYM116 Phase 2 trial in IgA nephropathy in Q3 2026 and multiple data readouts for budoprutug programs in Q4 2026.

Climb Bio, Inc. announced that Andrew Levin resigned from its Board of Directors, effective June 29, 2026. Concurrently, Breanna O’Reilly, Ph.D., was elected as a new member of the Board, also effective June 29, 2026. Dr. O'Reilly will receive compensation including an option to purchase 70,284 shares at $13.36 per share, vesting over three years, and an annual cash retainer of $40,000.

Climb Bio, Inc. entered into an Open Market Sale Agreement with Jefferies LLC to offer and sell up to $100 million of its common stock through an "at the market offering." This new agreement replaces a previous Equity Distribution Agreement with Oppenheimer & Co. Inc. for up to $22.35 million, which was terminated effective June 11, 2026, with no shares sold under it. The new offering provides the company with capital-raising flexibility.

Climb Bio, Inc. announced positive initial data from the Phase 1b portion of its Phase 1b/2a study evaluating budoprutug, an anti-CD19 monoclonal antibody, in adults with primary immune thrombocytopenia (ITP). The drug was generally well tolerated at 250 mg and 500 mg doses, with no serious adverse events or treatment discontinuations. Efficacy data from the 250 mg cohort showed significant B-cell depletion and increased platelet counts, with durable responses in a majority of patients, including those previously treated with rituximab.

Climb Bio, Inc. stockholders approved an amendment to the 2021 Equity Incentive Plan at the 2026 Annual Meeting, which now includes prefunded warrants in the calculation of the annual share pool increase. Additionally, Alexander (Bo) Cumbo and Douglas Williams, Ph.D., were elected to the Board of Directors for three-year terms. Stockholders also ratified PricewaterhouseCoopers LLP as the independent auditor for 2026 but did not approve an amendment to the Certificate of Incorporation regarding director removal for "cause".

Climb Bio, Inc. announced positive translational pharmacometric modeling and initial Phase 1 safety data for CLYM116, its anti-APRIL monoclonal antibody. A model derived from non-human primate data projected dose-dependent IgA suppression, suggesting potential for less-frequent dosing. Preliminary safety data from 49 healthy volunteers showed CLYM116 was generally well tolerated with no serious adverse events. The company plans to advance CLYM116 into further clinical development, and its partner Mabworks expects to initiate Phase 2 dosing in IgAN patients in Q3 2026.

Climb Bio, Inc. announced favorable initial Phase 1 safety data for its anti-APRIL monoclonal antibody, CLYM116, supporting its continued development for IgA nephropathy (IgAN). The data, presented at the ERA Congress 2026, showed CLYM116 was generally well tolerated with no unexpected safety findings in healthy volunteers. The company's partner, Mabworks, expects to initiate dosing in IgAN patients for a Phase 2 study in Q3 2026, and Climb Bio plans to share further data in late summer.

Climb Bio, Inc. reported a net loss of $13.7 million for the first quarter of 2026, an improvement from the $20.8 million net loss in the same period last year, with net loss per share improving to $(0.20). Research and development expenses significantly decreased, contributing to the narrower loss. However, cash and cash equivalents declined substantially, though total liquidity including marketable securities is expected to cover operating requirements for at least the next twelve months. The company also disclosed ongoing legal proceedings and identified material weaknesses in its internal control over financial reporting.