CervoMed (CRVO) Q2 2026 earnings summary

Executive summary

• Advanced neflamapimod for age-related brain disorders, prioritizing dementia with Lewy bodies (DLB), with ongoing and planned clinical trials in DLB, nfvPPA, RAS, and ALS, and a focus on securing a strategic partnership for Phase 3 DLB trial.

• Neflamapimod received Innovation Passport Designation under the UK's ILAP and a notice of allowance for a new US patent for DLB, extending IP protection into 2042.

• Presented new analyses at AAIC 2026 reinforcing neflamapimod's efficacy in pure DLB and supporting the 50 mg TID dose for Phase 3.

• Completed enrollment in Phase 2a trial for nfvPPA; initial biomarker data to be presented at upcoming conferences.

• Completed two financings in June 2026, raising $20.5 million gross to fund R&D, extend cash runway through Q3 2027, and support strategic partnership efforts.

Financial highlights

• Cash, cash equivalents, and marketable securities totaled $24.9 million as of June 30, 2026, up from $20.9 million at year-end 2025.

• Net loss was $6.6 million for Q2 2026 (vs. $6.3 million Q2 2025) and $14.5 million for H1 2026 (vs. $11.2 million in 2025), mainly due to lower grant revenue.

• No grant revenue recognized in 2026; $1.8 million and $3.7 million recognized in Q2 and H1 2025, respectively, due to completion of the RewinD-LB trial and NIA grant funding.

• R&D expenses were $4.3 million in Q2 2026, down from $5.1 million in Q2 2025; G&A expenses were $2.4 million in Q2 2026, down from $3.3 million in Q2 2025.

• Operating expenses decreased 20% year-over-year in Q2 2026, driven by lower R&D and G&A costs.

Outlook and guidance

• Current cash position expected to fund operations through Q3 2027.

• Strategic priority is to secure a partnership to advance neflamapimod into Phase 3 DLB trials.

• Anticipates presenting 12- and 24-week biomarker data from the nfvPPA Phase 2a trial at major conferences in Q4 2026.

• Expects to dose the first patient in the EXPERTS-ALS trial by end of 2026 and report topline data from the RESTORE stroke trial in H2 2026.

• Anticipates operating expenses may decline in H2 2026 as clinical and CMC activities wind down, but expects long-term increases as development progresses.