Aura Biosciences (AURA) Q1 2026 earnings summary

Executive summary

• Phase 3 Compass trial for bel-sar in early choroidal melanoma advancing toward enrollment completion, with topline data expected in 2H 2027.

• Natalie Holles appointed CEO and President, succeeding the founder.

• Balance sheet strengthened by $299 million equity financing, supporting operations into 2H 2028.

Financial highlights

• Cash, cash equivalents, and marketable securities totaled $114.7 million as of March 31, 2026.

• Net proceeds of $280.8 million from a May 2026 public offering, with $39.0 million used for a stock repurchase.

• Research and development expenses rose to $28.0 million, up from $23.3 million year-over-year.

• General and administrative expenses increased to $6.9 million from $5.7 million year-over-year.

• Net loss for Q1 2026 was $33.7 million, compared to $27.5 million in Q1 2025.

Outlook and guidance

• Cash position expected to fund operations into the second half of 2028.

• Topline data from the Phase 3 Compass trial anticipated in 2H 2027.

• Early proof-of-concept data from Phase 2 choroidal metastases and Phase 1 ocular surface cancer trials expected in 2026.

• Initial 3-month data from bladder cancer trial expected mid-2026.