Agomab Therapeutics (AGMB) Q2 2026 earnings summary

Executive summary

• Achieved regulatory alignment with the FDA on the NOV-ERA Phase 2b study design for ontunisertib in FSCD, including a novel primary endpoint of endoscopic passability at Week 24.

• Completed a successful Nasdaq IPO in February 2026, raising $208 million in gross proceeds, extending the cash runway into the first half of 2029.

• On track to initiate the NOV-ERA Phase 2b study in FSCD and a Phase 2 study with AGMB-447 in IPF in the second half of 2026.

• Topline data from the OLE part of the STENOVA study with ontunisertib in FSCD and from the Phase 1b IPF study cohort with AGMB-447 expected in the coming months.

Financial highlights

• Cash, cash equivalents, and short-term investments totaled €252.0 million as of June 30, 2026.

• Net loss was €31.0 million for the six months ended June 30, 2026, compared to €26.9 million for the same period in 2025.

• R&D expenses were €23.0 million, up from €22.0 million year-over-year.

• G&A expenses increased to €12.2 million from €6.7 million, mainly due to one-off IPO-related costs.

• Operating loss for the period was €34.1 million, compared to €27.4 million in the prior year.

Outlook and guidance

• Existing cash and investments, including IPO proceeds, are expected to fund operations and capital expenditures into the first half of 2029.

• Anticipates topline data from ongoing clinical studies and initiation of new trials in the second half of 2026.