0001193125-26-211935
SEC filingImageneBio reported Q1 2026 financial results with net loss of $10.6 million, cash of $117.2 million as of March 31, and $30 million private placement in April extending runway into Q1 2028.
ImageneBio announced Q1 2026 financial results showing increased operating expenses driven by higher R&D ($6.0M from $4.0M year-over-year) tied to clinical trial and personnel investments in the IMG-007 program, and elevated G&A ($6.1M from $2.8M) contributing to a net loss widening to $10.6M from $9.1M. Despite the loss expansion, the Company maintained a strong cash position of $117.2M as of March 31, 2026, bolstered by a timely $30M private placement in April led by new investor Coastlands Capital with participation from Trails Edge Capital Partners, Omega Funds, and OrbiMed. This financing critically extends the cash runway into Q1 2028, funding key milestones including the Phase 2b ADAPTIVE trial in atopic dermatitis and a planned Phase 2 in alopecia areata. CEO Kristin Yarema emphasized investor conviction in OX40 targeting via IMG-007's non-T cell-depleting design for diseases like AD and AA, highlighting its potential for deep, durable responses with infrequent dosing. The ADAPTIVE trial amendment enhances evaluation of dosing regimens, loading, and intervals in ~400 patients, with primary EASI endpoint at 24 weeks and topline data in Q4 2027. Early safety data shows no malignancies, severe infections, or treatment-related serious events. CMO Ben Porter-Brown noted momentum in advancing IMG-007 across indications with proof-of-concept in AA supporting further development amid unmet needs.