CAMP4 Therapeutics reported full year 2025 financial results with a net loss of $80.4 million and announced progress on its SYNGAP1 program, planning a Phase 1/2 trial as early as H2 2026. The company strengthened its balance sheet through a GSK collaboration and equity financing, extending its cash runway into 2028.
Key takeaways
Net loss for the year ended December 31, 2025 was $80.4 million, compared to $51.8 million for the prior year, primarily driven by a $29.8 million non-cash loss on derivative tranche liability.
Entered a strategic collaboration with GSK, receiving a $17.5 million upfront payment and eligibility for up to $440 million in milestones plus tiered royalties.
Cash and cash equivalents totaled $109.5 million as of December 31, 2025, an increase from $64.0 million at the end of 2024, with runway extended into 2028.
Completed a private placement with $50 million upfront gross proceeds (potential for $50 million more) and a $30 million underwritten offering of common stock.
Initiated GLP toxicology studies for CMP-002 with a global Phase 1/2 clinical trial in SYNGAP1 patients expected to begin as early as the second half of 2026.
Made a strategic decision to pause further investment in CMP-001 development to explore partnership opportunities.