Camp4 Therapeutics (CAMP) Q2 2026 earnings summary

Executive summary

• Focused on developing RNA-targeting therapeutics, with lead candidate CMP-002 for SYNGAP1-related disorder entering Phase 1/2 clinical trials in late 2026, following regulatory clearance in Australia and Argentina and filings in the EU and UK.

• Proprietary RAP Platform enables rapid identification of regulatory RNAs for gene upregulation, targeting CNS diseases and leveraging partnerships for broader applications.

• No approved products or product revenue to date; operations funded by equity offerings and collaboration agreements.

• Raised $50.1 million in a fully subscribed second closing of private placement, extending cash runway through end of 2028.

• Relocated corporate headquarters to Watertown, MA.

Financial highlights

• Research and collaboration revenue was $1.8M for Q2 2026, up from $1.5M in Q2 2025, mainly from the GSK agreement.

• Net loss for Q2 2026 was $33.5M, compared to $12.6M in Q2 2025, driven by a $20.9M non-cash expense from derivative tranche liability.

• Cash and cash equivalents as of June 30, 2026 were $86.4M, down from $109.5M at December 31, 2025.

• R&D expenses for Q2 2026 were $10.8M, up from $10.3M in Q2 2025.

• G&A expenses for Q2 2026 were $4.3M, up from $4.2M in Q2 2025.

Outlook and guidance

• Cash on hand plus $46.9M from a subsequent private placement is expected to fund operations through the end of 2028.

• Anticipates increased expenses as clinical and preclinical programs advance, with no expectation of product revenue for several years.

• Anticipates initiation of Phase 1/2 clinical trial of CMP-002 in Q4 2026, with ongoing regulatory submissions to expand trial sites.