Hemab Therapeutics (COAG) Q3 2026 earnings summary

Executive summary

• Pipeline advanced across three programs: sutacimig entered Phase 3 in Glanzmann thrombasthenia (GT), HMB-003 dosed its first Phase 1 participant, and clinical data were reported for sutacimig in Factor VII deficiency (FVIID).

• Portfolio includes Phase 3 sutacimig for GT, Phase 2b sutacimig for FVIID, Phase 1/2 HMB-002 and Phase 1 HMB-003; no product revenue to date.

• Cash, cash equivalents and marketable securities totaled $430.2M at September 30, 2026, with stated operating runway into 2029.

Financial highlights

• Q3 2026 R&D expense was $24.6M vs. $14.6M a year earlier; G&A was $5.1M vs. $2.5M, taking total operating expenses to $29.8M vs. $17.1M.

• Q3 net loss was $27.3M, or $0.58 per share, vs. $17.1M, or $18.04 per share; $3.1M of other income, primarily interest, partly offset operating loss.

• 9M 2026 R&D expense was $64.4M vs. $41.5M, G&A was $15.0M vs. $8.1M, and net loss was $74.1M vs. $44.6M.

Outlook and guidance

• Cash, cash equivalents and marketable securities of $430.2M at September 30, 2026 are expected to fund operating expenses and capital needs into 2029; the estimate depends on assumptions that may change.

• Initial HMB-003 Phase 1 data are expected in mid-2027; additional HMB-002 data are planned for EAHAD in February 2027, and updated sutacimig FVIID data for ASH in December 2026.

• Expenses and net losses are expected to rise with later-stage trials, manufacturing scale-up, regulatory work, staffing and public-company costs; profitability timing remains uncertain.