Hemab Therapeutics (COAG) Q2 2026 earnings summary

Executive summary

• Clinical-stage biotech focused on therapies for blood coagulation disorders, with lead assets in Phase 1/2 and Phase 2 trials for rare bleeding diseases.

• Presented new clinical and preclinical data across three programs at ISTH 2026, including five oral presentations and unveiling of HMB-003 for heavy menstrual bleeding.

• Advanced sutacimig for Glanzmann thrombasthenia (GT) with sustained bleed reduction and FDA endorsement to proceed to Phase 3 pivotal trial in 2H 2026.

• Completed IPO in May 2026, raising $317.2 million in net proceeds; all preferred stock converted to common stock.

• Corporate reorganization completed in March 2026, transitioning to a Delaware holding company structure.

Financial highlights

• Net loss of $46.8 million for the six months ended June 30, 2026, compared to $27.5 million for the same period in 2025.

• Cash, cash equivalents, and marketable securities totaled $457.5 million as of June 30, 2026, up from $163.5 million at March 31, 2026, primarily due to IPO proceeds.

• Research and development expenses rose to $39.8 million for the first half of 2026, driven by increased clinical activity and headcount.

• General and administrative expenses increased to $9.9 million for the first half of 2026, reflecting higher personnel and professional fees.

• Net cash used in operating activities was $44.2 million for the first half of 2026.

Outlook and guidance

• Existing cash and securities expected to fund operations into 2029.

• Plans to initiate Phase 3 pivotal trial for sutacimig in GT in 2H 2026 and first-in-human studies for HMB-003 in 2H 2026.

• Expects additional data from ongoing Phase 2 trial of sutacimig in Factor VII deficiency and further HMB-002 clinical data in late 2026 or early 2027.

• Expects to continue incurring significant operating losses for the foreseeable future.