Chimeric Therapeutics (CHM) H1 2026 earnings summary

Executive summary

• Reported a half-year loss of $11.2 million, up 292.5% year-over-year, mainly due to full impairment of the Chlorotoxin (CLTX) CAR-T intellectual property and ongoing R&D expenses.

• Cash reserves at period end were $2.5 million, down from $5.8 million at June 2025.

• Significant board changes and a strategic reset, including a new Chair and transition to a contract CMO model to reduce costs.

Financial highlights

• Loss after tax for the half-year was $11,216,028, compared to $2,857,887 in the prior period.

• Net tangible assets per share decreased to $(0.09) from $(0.45) year-over-year.

• R&D tax incentive income of $2.5 million accrued for the period; $4.5 million refund received for FY25.

• Impairment charge of $9.75 million recognized for CLTX asset.

• Cash outflow from operations was $3.8 million; net cash outflow for the period was $3.3 million.

Outlook and guidance

• $8.4 million raised via placement and convertible note fully funds the CHM CDH17 trial to end of Phase 1 and supports near-term clinical milestones.

• Expense reduction and capital prioritization measures implemented to extend runway.

• Directors believe sufficient funding is available for the next 12 months, but ongoing viability depends on future capital raises and R&D rebates.