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Aura Biosciences (AURA) investor relations material
Aura Biosciences Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Bel-sar is in late-stage clinical development for early choroidal melanoma, with additional trials in metastases to the choroid, bladder cancer, and ocular surface cancers; Phase 3 enrollment may complete in 2026, with topline data expected in Q4 2027.
Bel-sar demonstrated an 80% tumor control rate and 90% visual acuity preservation in Phase 2, with a favorable safety profile and new immune profiling data supporting its dual mechanism.
No product revenue has been generated to date; operations are funded through equity offerings, with $495.4 million raised since inception.
Net loss for the nine months ended September 30, 2025, was $80.6 million, up from $61.1 million in the prior year period; Q3 2025 net loss was $26.1 million.
Measures to improve Compass Phase 3 trial enrollment have increased the eligible patient pool to 280, with 90% of clinical sites activated.
Financial highlights
Cash, cash equivalents, and marketable securities totaled $161.9 million as of September 30, 2025, sufficient to fund operations into the first half of 2027.
Research and development expenses rose to $68.4 million for the nine months ended September 30, 2025, and $22.2 million for Q3 2025, driven by clinical trial costs and personnel growth.
General and administrative expenses were $17.2 million for the nine months ended September 30, 2025, and $5.7 million for Q3 2025.
Net cash used in operating activities was $64.3 million for the nine months ended September 30, 2025.
Net loss per share was $(1.39) for the nine months ended September 30, 2025, and $0.40 for Q3 2025, with 65.9 million shares outstanding.
Outlook and guidance
Existing cash and marketable securities are expected to fund operations into the first half of 2027.
Compass Phase 3 trial enrollment expected to complete in 2026, with topline data for the 15-month endpoint in Q4 2027.
Phase 1b/2 NMIBC trial remains on track, with initial three-month clinical data expected mid-2026.
Early proof-of-concept data for metastases to the choroid and cancers of the ocular surface anticipated in 2026.
Substantial additional funding will be needed to complete bel-sar development and commercialization.
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