Transgene (TNG) Q1 2026 earnings summary

Executive summary

• Enrollment completed for Phase 2 of TG4050 trial in head and neck cancer; topline data expected by end of Q1 2028.

• Phase 1 data published, showing robust immune responses and all patients disease-free at 2 years.

• License agreement signed with NEC Bio to advance TG4050 clinical development and commercialization.

• Financial visibility secured until early 2028.

Financial highlights

• Q1 2026 operating revenue was €1.4 million, down from €2.5 million in Q1 2025, mainly due to lower research tax credit.

• Cash, cash equivalents, and financial assets totaled €103.8 million as of March 31, 2026, compared to €111.9 million at year-end 2025.

• Net cash burn for Q1 2026 was €8.1 million, improved from €14.8 million in Q1 2025.

Outlook and guidance

• Topline results for the Phase 2 TG4050 trial expected by end of Q1 2028.

• 3-year disease-free survival follow-up for Phase 1 patients anticipated in Q2/Q3 2026.

• Plans to initiate a new Phase 1 trial in a second indication later in 2026.