Climb Bio (CLYM) Q2 2026 earnings summary

Executive summary

• Focused on developing therapeutics for immune-mediated diseases, with lead candidates budoprutug (anti-CD19 mAb) and CLYM116 (anti-APRIL mAb) in clinical development for nephrology and autoimmune indications.

• Achieved key milestones for budoprutug and CLYM116, advancing four ongoing trials and preparing for a Phase 2 trial in IgA nephropathy in Q3 2026.

• Multiple ongoing Phase 1 and 2 trials for budoprutug in primary membranous nephropathy (pMN), immune thrombocytopenia (ITP), and systemic lupus erythematosus (SLE); CLYM116 in Phase 1 for IgA nephropathy.

• Presented initial Phase 1 safety data for CLYM116 and Phase 1b data for budoprutug, both showing favorable safety and efficacy signals.

• No product revenue to date; operations funded by equity offerings and private placements.

Financial highlights

• Cash, cash equivalents, and marketable securities totaled $239.2 million as of June 30, 2026, up from $160.7 million at year-end 2025.

• Net loss was $13.5 million for Q2 2026 and $27.2 million for the six months ended June 30, 2026, compared to $8.7 million and $29.4 million for the same periods in 2025.

• Research and development expenses increased to $9.7 million in Q2 2026 (up $3.1 million year-over-year), while general and administrative expenses rose to $5.6 million (up $1.5 million year-over-year).

• Net cash used in operating activities was $24.9 million for the first half of 2026; net cash provided by financing activities was $103.7 million, primarily from a private placement.

• Other income, net, was $1.9 million for Q2 2026, slightly down from $2.0 million in Q2 2025.

Outlook and guidance

• Cash runway expected to fund operations into the second half of 2028, but future capital raises will be needed to support ongoing development and potential commercialization.

• Initial data from ongoing clinical trials for budoprutug and CLYM116 expected in late 2026 and 2027.

• Plan to initiate a multiple-dose study of subcutaneous budoprutug in autoimmune patients, with data expected in 2027.