Faeth Therapeutics (FTH) Q3 2026 earnings summary

Executive summary

• PIKTOR, an investigational oral combination targeting multiple nodes of the PI3K/AKT/mTOR pathway, entered the clinical-stage pipeline through the February 2026 acquisition; no product revenue has been generated.

• Topline results from the Phase 2 endometrial cancer study are expected by year-end 2026; interim data from the HR+/HER2- breast cancer study are anticipated in 2027.

Financial highlights

• Q3 2026 R&D expense was $11.7 million versus $2.5 million a year earlier, driven by PIKTOR development, clinical, CMC, preclinical and personnel costs, partly offset by lower legacy Sensei trial costs.

• Q3 2026 G&A expense was $10.4 million versus $2.3 million a year earlier, primarily reflecting higher personnel costs and external administrative fees, including legal fees.

• Q3 2026 net loss was $20.4 million, or $0.79 per share, versus $4.6 million, or $3.62 per share, in Q3 2025.

• 9M 2026 R&D was $38.9 million, G&A $39.3 million, acquired IPR&D $133.0 million and net loss $206.6 million; the loss included acquisition-related costs.

• Cash, cash equivalents and marketable securities totaled $174.8 million at September 30, 2026, versus $21.2 million at December 31, 2025.

Outlook and guidance

• Existing cash, cash equivalents and marketable securities are expected to fund operations through topline readouts from both ongoing PIKTOR studies.

• Topline data from the Phase 2 PIK-201 study in second-line advanced endometrial cancer are anticipated by year-end 2026; interim PIK-101 data in HR+/HER2- advanced breast cancer are anticipated in 2027.

• Near-term R&D and G&A expenses are expected below 9M 2026 levels, which included significant non-recurring acquisition costs; longer-term R&D is expected to rise as trials and pipeline work advance.

• Operating losses and negative operating cash flows are expected to continue; additional financing may be needed, and available capital could be used sooner than anticipated.