Intensity Therapeutics (INTS) Q2 2026 earnings summary

Executive summary

• Resumed and expanded late-stage clinical development of INT230-6, with ongoing Phase 3 (INVINCIBLE-3, soft tissue sarcoma) and Phase 2 (INVINCIBLE-4, TNBC) studies, following protocol amendments and FDA review.

• No revenue generated to date; operations funded primarily through equity offerings and convertible notes.

• Net loss for Q2 2026 was $3 million, and $5.4 million for the first half of 2026, reflecting increased R&D and G&A expenses.

• Cash and cash equivalents stood at $9.5 million as of June 30, 2026, with an additional $1.3 million raised post-quarter via ATM facility.

• Over $23 million raised since Q2 2025, improving balance sheet and operational flexibility.

Financial highlights

• R&D expenses for Q2 2026 rose to $1.8 million, mainly due to resumed INVINCIBLE-3 activities; for H1 2026, R&D expenses were $3.0 million, down 19% year-over-year.

• G&A expenses increased to $1.3 million in Q2 2026, up 7% year-over-year, driven by higher employee compensation and franchise costs.

• Net loss for Q2 2026 was $3.0 million, and $5.4 million for H1 2026, with loss per share for Q2 2026 at $1.11.

• Cash and cash equivalents totaled $9.5 million as of June 30, 2026.

• Raised $1.6 million in Q2 2026 and $1.3 million post-quarter via ATM facility.

Outlook and guidance

• Monthly cash burn projected at $1 million for the rest of 2026; $30 million estimated needed to fully complete INVINCIBLE-3 over several years.

• Additional capital required to expand site activations and accelerate clinical programs.

• Targeting completion of INVINCIBLE-4 enrollment by end of 2027, subject to site readiness and funding.

• No expectation of product revenue in the near term; future revenue dependent on regulatory approval and commercialization.