Inhibikase Therapeutics (IKT) Q3 2026 earnings summary

Executive summary

• IMPROVE-PAH, the pivotal global Phase 3 study of IKT-001 for PAH, had approvals in 28 countries and 79 of 180 planned sites activated; an interim Part A safety readout in 50 patients is planned for H1 2027.

• FDA granted IKT-001 Orphan Drug Designation in July 2026, potentially providing clinical-trial tax credits, fee exemptions and seven years of market exclusivity upon approval.

Financial highlights

• Q3 2026 net loss was $20.5M, or $0.10/share, vs. $11.9M, or $0.13/share, in Q3 2025; 9M net loss was $56.4M, or $0.31/share, vs. $35.5M, or $0.40/share.

• Q3 R&D expense rose to $15.0M from $7.6M; 9M R&D was $39.2M vs. $23.4M, with 2025 including a $7.4M noncash IPR&D write-off and $1.8M CorHepta-related stock compensation.

• Q3 SG&A was $7.2M vs. $5.6M; 9M SG&A was $22.3M vs. $16.8M. Higher stock-based compensation and personnel costs contributed to the increase; 2025 included $1.0M in severance for former senior executives.

• Other income was $1.8M in Q3 and $4.7M for 9M, driven by interest on cash, cash equivalents and marketable securities.

Outlook and guidance

• Existing cash, cash equivalents and marketable securities were expected to fund operations for at least 12 months after the report date; funding through Part B topline data assumes full, timely exercise of outstanding Series A and B warrants and projected development timelines.

• Part A plans ~140 patients, with change in PVR at Week 24 as the primary endpoint; Part B plans ~346 patients, with change in 6MWD at Week 24 as the primary endpoint, and is to begin after Part A's last patient enrolls.

• R&D expense is expected to rise for several years as IKT-001 advances and regulatory approval is pursued; substantial additional funding is anticipated. Estimated remaining CRO and CMO contract costs were $107.6M and $8.7M, primarily through 2030.

• Nonclinical results for sotatercept combination studies are expected progressively from Q1 2027; Group 2 studies during 2027 and Group 3 studies in late 2027 or early 2028.