Hemab Therapeutics (COAG) Registration filing summary

Company overview and business model

• Clinical-stage biotechnology company focused on developing therapies for blood coagulation disorders, targeting serious bleeding and thrombotic diseases.

• Lead asset, sutacimig (HMB-001), is a bispecific antibody in Phase 1/2 for Glanzmann thrombasthenia and Phase 2 for Factor VII deficiency; HMB-002 is a monovalent antibody in Phase 1/2 for Von Willebrand Disease.

• Strategic roadmap aims for 2 commercial medicines, 2 late-stage, and 2 early-stage clinical programs by 2030.

• All global economic development and commercialization rights to assets are retained.

Financial performance and metrics

• Net losses of $48.7 million in 2024 and $63.9 million in 2025; accumulated deficit of $181.9 million as of December 31, 2025.

• Cash, cash equivalents, and marketable securities of $185.5 million as of December 31, 2025.

• Research and development expenses increased from $41.4 million in 2024 to $59.6 million in 2025, primarily due to clinical development and personnel costs.

• General and administrative expenses were $10.5 million in 2025, up from $9.0 million in 2024.

• No revenue from product sales to date.

Use of proceeds and capital allocation

• Estimated net proceeds of $180.3 million (or $208.2 million if underwriters' option exercised) based on an IPO price of $17.00 per share.

• Proceeds to fund clinical development of sutacimig and HMB-002, additional discovery, preclinical, and clinical activities, and for working capital and general corporate purposes.

• Expected to fund operations into the second half of 2028.