Hemab Therapeutics (COAG) Q1 2026 earnings summary

Executive summary

• Clinical-stage biotech focused on therapies for blood coagulation disorders, with lead assets sutacimig (in Phase 1/2 and Phase 2 trials) and HMB-002 (in Phase 1/2 trial); pipeline includes preclinical and discovery-stage assets.

• No approved products or product revenue; operations funded by private placements, convertible debt, and a May 2026 IPO raising $346.7M gross ($317.2M net) proceeds and listing on Nasdaq.

• Net loss of $22.7M for Q1 2026, accumulated deficit of $204.5M as of March 31, 2026.

• Cash, cash equivalents, and marketable securities of $163.5M at quarter-end, expected to fund operations into 2029 with IPO proceeds.

• Received Breakthrough Therapy Designation for sutacimig in GT and Orphan Drug Designation from FDA and EMA.

Financial highlights

• Q1 2026 operating expenses: $19.5M R&D (+$5.4M YoY), $4.2M G&A (+$1.7M YoY); net loss per share: $(23.98), unchanged share count YoY.

• Cash used in operations: $21.6M in Q1 2026, up from $13.0M in Q1 2025.

• No product revenue; interest income of $1.2M, other expense of $0.3M.

• Total assets were $175.3M as of March 31, 2026, compared to $194.8M at December 31, 2025.

Outlook and guidance

• Expenses expected to increase with advancement of clinical programs, especially planned Phase 3 trial for sutacimig in GT in H2 2026.

• Existing cash and IPO proceeds expected to fund operations and capital expenditures into 2029.

• Data from ongoing clinical trials for sutacimig (Factor VII deficiency) and HMB-002 (Von Willebrand Disease) expected in late 2026 or early 2027.

• No guidance on profitability; company expects continued operating losses for the foreseeable future.