Climb Bio (CLYM) Q3 2026 earnings summary

Executive summary

• Budoprutug is advancing across pMN, ITP and SLE; CLYM116 is progressing in IgAN, with global Phase 3 planned for 2027 pending regulatory feedback.

• Q3 net loss was $14.6M, compared with $12.9M a year earlier; $227.6M in cash, cash equivalents and marketable securities is expected to fund operations into H2 2028.

Financial highlights

• Q3 2026 operating expenses were $16.9M, up from $14.9M YoY; nine-month expenses were $47.5M, down from $48.6M.

• Q3 R&D was $11.0M vs $9.1M; nine-month R&D was $30.1M vs $33.0M, primarily reflecting the prior-year $9.0M CLYM116 upfront payment.

• Q3 G&A was $5.8M, essentially unchanged YoY; nine-month G&A was $17.3M vs $15.6M, reflecting higher personnel costs.

• Nine-month net loss was $41.8M vs $42.3M, and net cash used in operations was $36.9M vs $38.7M.

Outlook and guidance

• NAVIGATE-2 initial data are expected in H1 2027; a global CLYM116 Phase 3 trial is planned for 2027, pending regulatory feedback.

• Additional PrisMN cohort data, including longer follow-up, and data from both SLE trials are expected in 2027; initial budoprutug SC multiple-dose study data are also expected in 2027.

• ITP data from the 500 mg and 1,000 mg cohorts are expected at ASH in December 2026; Phase 1b enrollment is complete.

• R&D expenses are expected to increase substantially as clinical programs advance; G&A is expected to rise to support growth and potential commercialization.