Kiora Pharmaceuticals reported fourth-quarter and full-year 2025 financial results, including a net loss of $10.8 million for the year compared to net income of $3.6 million in 2024, and ended the year with $17.1 million in cash, cash equivalents, and short-term investments. The company advanced Phase 2 clinical trials for KIO-301 in retinitis pigmentosa and KIO-104 in macular edema, with cash expected to fund operations into late 2027.
Key takeaways
Advanced KIO-301 to patient dosing in ABACUS-2 Phase 2 trial for retinitis pigmentosa, with initial data readout anticipated Q3 2027.
Entered option agreement with Senju Pharmaceutical for KIO-301 in key Asian markets, potential value up to $110 million plus royalties.
Advanced KIO-104 to patient dosing in KLARITY Phase 2 trial for macular edema due to retinal inflammation.
Reported FY2025 net loss of $10.8 million vs. $3.6 million net income in 2024; Q4 2025 net loss $6.5 million vs. $4.2 million in Q4 2024.
Ended 2025 with $17.1 million in cash, cash equivalents, and short-term investments plus $3.5 million receivables.
Net cash used in operating activities: $2.2 million in Q4 2025 and $10.0 million for FY2025; cash runway into late 2027.