OnKure Therapeutics (OKUR) Q2 2026 earnings summary

Executive summary

• Focused on developing precision medicines for vascular anomalies and cancers, with lead programs OKI-345 (breast cancer) and OKI-355 (vascular anomalies) targeting PI3Kα mutations, and advancing IND-enabling activities for both with submissions planned for 1H 2027.

• Strategic transformation to next-generation PI3Ka inhibitors to address limitations of current therapies.

• Hosted scientific events and participated in ISSVA World Congress 2026 to highlight scientific rationale and engage with clinicians.

• No approved products or product revenue; operations funded by equity and debt placements.

• Completed a merger in October 2024 and a $150M private placement in March 2026.

Financial highlights

• Net loss of $15.3M for Q2 2026, nearly flat compared to $15.4M in Q2 2025; net loss per share improved to $0.31 from $1.14 due to increased share count.

• Cash, cash equivalents, and marketable securities totaled $176.4M as of June 30, 2026, expected to fund operations into 2029.

• R&D expenses were $12.6M for Q2 2026, flat year-over-year; G&A expenses rose to $4.3M from $3.7M.

• Operating expenses for Q2 2026 were $16.9M, up slightly from $16.3M in Q2 2025.

• Interest income increased to $1.6M in Q2 2026 from $0.9M in Q2 2025.

Outlook and guidance

• IND submissions for OKI-345 and OKI-355 are on track for the first half of 2027.

• Cash resources expected to fund operations for at least the next 12 months and projected into 2029 based on current plans.

• Anticipates increased R&D and G&A expenses as programs advance.