CTNM · Contineum Therapeutics, Inc. Class A Common Stock

Contineum Therapeutics reported its first-quarter 2026 financial results, highlighting a net loss of $14.5 million, an improvement from $16.0 million in the same period last year. The reduction in net loss was primarily driven by a 15% decrease in research and development expenses to $11.6 million, reflecting the completion of the PIPE-307 VISTA trial and lower costs for the PIPE-791 PET trial, partially offset by increased spending on the PIPE-791 IPF program and higher employee-related costs. General and administrative expenses rose 20% to $5.3 million due to higher stock-based compensation and employee costs. The company ended the quarter with $246.3 million in cash, cash equivalents, and marketable securities, providing a projected cash runway through mid-2029, which extends approximately one year beyond the estimated completion of the PROPEL-IPF trial. Management affirmed key clinical milestones, including positive topline data from the Phase 1b chronic pain trial for PIPE-791 reported on April 30, 2026, which demonstrated safety and tolerability with numerically greater pain improvements versus placebo. The global Phase 2 IPF trial (PROPEL-IPF) for PIPE-791 is actively enrolling, and Johnson & Johnson's Phase 2 Moonlight-1 trial for PIPE-307 in major depressive disorder is recruiting with an estimated completion in June 2026. The company's disciplined capital allocation prioritizes the lead IPF indication while considering advancement of other programs.