Contineum Therapeutics (CTNM) Q4 2025 earnings summary

Executive summary

• Initiated patient dosing in a global Phase 2 trial (PROPEL-IPF) for PIPE-791 targeting idiopathic pulmonary fibrosis (IPF).

• Topline data from PIPE-791 Phase 1b chronic pain trial expected in Q2 2026.

• Johnson & Johnson began a Phase 2 trial for PIPE-307 in major depressive disorder in December 2024.

Financial highlights

• Cash, cash equivalents, and marketable securities totaled $262.9 million as of December 31, 2025.

• Net loss for Q4 2025 was $15.2 million, compared to $14.6 million in Q4 2024.

• Research and development expenses were $12.8 million, down 2% year-over-year; general and administrative expenses were $4.4 million, up 8%.

• Completed an upsized public offering in Q4 2025, raising $93.0 million from 8.1 million shares at $12.25 per share.

Outlook and guidance

• Cash runway projected to extend into mid-2029, about one year past estimated completion of the IPF trial.

• Disciplined capital allocation prioritizes lead clinical program and select discovery programs.