ZURA · Zura Bio Limited

Zura Bio Limited announced its first quarter 2026 financial results, reporting a net loss of $24.2 million, or $0.22 per share, compared to $17.4 million, or $0.19 per share, in the prior year period. The increased loss was primarily driven by elevated research and development expenses of $14.7 million, up from $10.5 million, reflecting continued investment in the Phase 2 tibulizumab programs TibuSHIELD in hidradenitis suppurativa and TibuSURE in systemic sclerosis. General and administrative expenses rose to $10.8 million from $8.8 million, attributed to higher compensation including share-based payments and professional fees supporting clinical advancement and growth. As of March 31, 2026, the company maintained a strong cash position of $225.6 million, bolstered by gross proceeds of approximately $144 million from a February 2026 underwritten public offering of Class A ordinary shares and pre-funded warrants, expected to fund operations through at least the end of 2028. CEO Sandeep Kulkarni, appointed in January 2026, highlighted the strengthened balance sheet and leadership team, including new Board members Mark Eisner and Ajay Nirula in February, positioning the company ahead of anticipated tibulizumab topline data readouts starting in Q4 2026 for HS and 1H 2027 for SSc. Both trials remain on track with targeted enrollments of approximately 225 and 80 patients, respectively, underscoring operational execution amid pipeline progress.