Iambic Therapeutics (IAM) investor relations material

Company overview and business model

• Proprietary AI models Enchant and NeuralPLexer combine with automated chemistry and biology; weekly design-make-test cycles feed lab data back into model training.

• Platform supports a wholly owned pipeline plus discovery, AI-software and clinical collaborations with AbbVie, Takeda, Lundbeck, NVIDIA, Lambda, Revolution Medicines, Jazz Pharmaceuticals and Bayer.

• As of September 2026, IAM1363 was in Phase 1/1b; an IND for IAM217 was submitted September 30, 2026; an IAM-C1 IND was anticipated in Q4 2026.

• IAM1363 registrational-trial initiation was targeted as early as 2027, subject to FDA feedback; Phase 1/2 trials for IAM217 and IAM-C1 were planned subject to regulatory clearance.

Financial performance and metrics

• FY2025 collaboration revenue was $9.4M vs. $1.2M in FY2024; net loss was $77.3M vs. $47.9M.

• H1 2026 collaboration revenue was $12.8M vs. $3.9M H1 2025; net loss was $50.1M vs. $33.2M.

• H1 2026 R&D expense was $57.1M vs. $32.9M; G&A was $9.1M vs. $6.7M.

• Cash and cash equivalents were $207.9M and accumulated deficit $245.3M at June 30, 2026; estimated runway with IPO proceeds extends into or through Q4 2028, based on the current operating plan.

Use of proceeds and capital allocation

• Estimated net proceeds: $135.0M at the assumed $16.00 midpoint, or $155.9M if the underwriters exercise their option in full.

• Approximately $75M was allocated to IAM1363 through its ongoing Phase 1 trial, planned Phase 2 trials and a Phase 3 trial, subject to FDA feedback and potential approval pathways.

• Approximately $15M each was allocated to IAM217 and IAM-C1, including planned Phase 1/2 trials through completion of Phase 1 dose escalation.

• Approximately $20M was allocated to platform investment, including new Enchant and NeuralPLexer versions, lab automation capital expenditures and Discovery workflow software; remainder, if any, for working capital and general corporate purposes.