Rein Therapeutics (RNTX) Q1 2026 earnings summary

Executive summary

• Focused on developing therapies for orphan pulmonary and fibrosis indications, with LTI-03 as the lead candidate in Phase 2 clinical trials for idiopathic pulmonary fibrosis (IPF).

• LTI-01 development paused indefinitely to prioritize LTI-03; preclinical programs continue.

• First patient dosed in the RENEW Phase 2 trial in March 2026; interim topline data expected Q4 2026.

• No revenue from product sales; operations funded by equity, warrants, and debt financings.

Financial highlights

• Net loss of $5.8 million for Q1 2026, compared to $5.5 million in Q1 2025.

• Operating expenses totaled $5.2 million in Q1 2026, down from $5.6 million in Q1 2025.

• Cash and cash equivalents were $4.4 million as of March 31, 2026.

• Accumulated deficit reached $407.1 million as of March 31, 2026.

• No revenue recognized; all expenses related to R&D and G&A.

Outlook and guidance

• Cash on hand plus $53.1 million net proceeds from May 2026 offering expected to fund operations into Q1 2028.

• Sufficient funds to complete the Phase 2 RENEW trial of LTI-03.

• Continued operating losses expected as clinical development progresses.