NovaBridge Biosciences (NBP) Q4 2025 earnings summary

Executive summary

• Achieved transformation into a global biotech platform with two mid-stage, potentially best-in-class programs: givastomig (gastric cancer) and VIS-101 (wet AMD), both showing compelling proof-of-concept data.

• Expanded Board of Directors and executive team to support growth and execution of 2026 milestones.

• Strategic business development included asset acquisitions and formation of Visara subsidiary for VIS-101.

Financial highlights

• Cash, cash equivalents, and short-term investments totaled $210.8 million as of December 31, 2025, supporting operations through 2028.

• Research & development expenses rose to $62.9 million in 2025 from $21.8 million in 2024, mainly due to IPR&D expenses from VIS-101 and Bridge Health acquisitions.

• Administrative expenses increased to $31.4 million from $29.7 million year-over-year, driven by higher share-based compensation and professional services.

• Net loss attributable to the company was $46.3 million for 2025, compared to $22.2 million in 2024; net loss per share was $(0.21) versus $(0.12) prior year.

• Licensing and collaboration revenue was $0.6 million for 2025.

Outlook and guidance

• Givastomig is eligible for FDA Accelerated Approval Pathway, with a Phase 3 trial potentially starting by year-end 2026.

• VIS-101 to initiate Phase 2b studies in H2 2026 and a global Phase 3 program in 2027.

• Cash runway expected to last through 2028.