LeonaBio Inc. (LONA), a clinical-stage biopharmaceutical company, on Thursday released the first quarter financial results, and provided updates on its developing pipeline of drugs.
Q1 2026:
The company reported a net loss of $32.96 million, or $1.73 per share in Q1 2026, while in the same period of 2025 the net loss was $9.15 million, or $2.34 per share.
Research and development expenses (R&D) were $11.26 million, compared to $4.32 million in the previous year.
Cash, cash equivalents, and marketable securities on March 31, 2026, amounted to $67.7 million.
Pipeline Highlights:
The company is developing Lasofoxifene, a novel, selective estrogen-receptor modulator (SERM) to treat breast cancer. It is currently being evaluated in combination with abemaciclib in the Phase 3 ELAINE-3 trial. The primary endpoint of the study is a statistically significant improvement in progression-free survival among patients with HER2-negative, ESR1-mutated metastatic breast cancer.
Enrolment is expected to be completed by the fourth quarter of this year, and topline data released by the first half of 2027.
ATH-1105 is a novel, orally available, brain penetrating, next-generation small molecule drug candidate that positively modulates neurotrophic HGF to treat amylotrophic lateral sclerosis (ALS), Parkinson's, and Alzheimer's disease. The company evaluated the drug in a double-blind, placebo-controlled Phase 1 study on 80 healthy volunteers. The results indicate a favorable safety and tolerability profile, dose-proportional pharmacokinetics, and penetration to the central nervous system.
A Phase 2 proof-of-concept trial is anticipated for the second half of this year.
LONA closed Thursday at $9.86, up 4.67%.
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