KPRX · Kiora Pharmaceuticals, Inc.

Kiora Pharmaceuticals disclosed first quarter 2026 results showing a GAAP net loss of $2.4 million, or $(0.58) per diluted share, compared to $2.2 million, or $(0.52) per share, in the prior-year period. The increased loss was driven by higher general and administrative expenses at $1.6 million versus $1.5 million, partially offset by lower research and development expenses of $2.1 million before $1.2 million in Théa reimbursements, down from $2.5 million before $2.0 million reimbursements last year, reflecting timing of clinical activities. Operating loss widened to $2.5 million from $2.3 million. Balance sheet remained solid with $13.9 million in cash and short-term investments at quarter-end, supplemented by $1.5 million in collaboration receivables from Théa and $2.0 million in tax receivables, supporting operations into late 2028. Post-quarter, the company raised $5.0 million in gross proceeds from a strategic equity financing led by Perceptive Advisors, enhancing financial flexibility. Management highlighted strong clinical momentum: ABACUS-2 Phase 2 enrollment for KIO-301 in retinitis pigmentosa is approaching 50% completion with site expansions to meet patient demand, bolstered by Nature Medicine publication of ABACUS-1 data validating the molecular photoswitch technology. For KIO-104 in KLARITY Phase 2 targeting inflammatory retinal diseases, a safety review is imminent to enable dose escalation. CEO Brian Strem emphasized high unmet need and preparation for potential global studies, while CFO Melissa Tosca noted prudent cash management amid advancing both programs.