Highlights

  • Cash, cash equivalents and marketable securities were $239.2 million as of June 30, 2026; management expects this to fund operations into 2028.
  • Net loss for the three months ended June 30, 2026 was $13.5 million, or $0.18 per basic and diluted share.
  • An April 2026 private placement produced net proceeds of approximately $103.4 million from 9,481,000 shares sold at $9.50.
  • Two material weaknesses in internal control remain unremediated, and disclosure controls were not effective as of June 30, 2026.

Climb Bio (NASDAQ: CLYM) shares were trading at USD 10.03 on October 27, 2026, up 13.85%, with a relative volume at time of 8.08. The clinical-stage biotechnology company completed a private placement in April 2026, entered a $100.0 million at-the-market program in June 2026, and filed its 10-Q for the quarter ended June 30, 2026 on August 6, 2026, with data readouts expected in the fourth quarter of 2026.

Climb Bio is incorporated in Delaware and lists its principal executive offices in Wellesley Hills, Massachusetts. It is a clinical-stage biotechnology company developing therapeutics for immune-mediated diseases. Its pipeline includes budoprutug, an anti-CD19 monoclonal antibody, and CLYM116, an anti-APRIL monoclonal antibody being developed for immunoglobulin A nephropathy and other B-cell mediated diseases. It has no products approved for sale. Its fiscal year ends December 31.

Second Quarter 2026 Results

For the three months ended June 30, 2026, Climb Bio reported a net loss of $13,498 thousand, compared with a net loss of $8,666 thousand in the same period of 2025. Basic and diluted net loss per share was $0.18, compared with $0.13 a year earlier.

Research and development expenses increased from $6.6 million for the three months ended June 30, 2025 to $9.7 million for the three months ended June 30, 2026. The company attributed the increase to spending on the budoprutug and CLYM116 programs and to higher personnel-related expenses. General and administrative expenses increased from $4.1 million to $5.6 million. Interest income decreased from $2.2 million to $1.9 million.

For the six months ended June 30, 2026, the net loss was $27.2 million, or $0.38 per share, compared with $29.4 million, or $0.44 per share, in the prior-year period. Net cash used in operating activities for the six months was $24.9 million.

Liquidity, Financing and Controls

Cash, cash equivalents and marketable securities were $239.2 million as of June 30, 2026. Management said it expects this balance to fund operations into the second half of 2028, and noted its assumptions may prove wrong. The company stated it expects to continue to incur operating losses for the foreseeable future, will need to raise additional capital, and cannot assure that it will ever be profitable. It has generated no revenue from product sales.

In April 2026, Climb Bio sold 9,481,000 shares of common stock at $9.50 per share in a private placement, and issued pre-funded warrants to purchase 2,106,000 shares at $9.4999 per warrant. In June 2026, the company entered an Open Market Sale Agreement with Jefferies LLC covering up to $100.0 million of common stock in at-the-market offerings, and no sales had been made under it as of June 30, 2026.

The filing states that two material weaknesses identified in connection with the 2020 financial statements remain unremediated as of June 30, 2026. The chief executive officer and chief financial officer concluded that disclosure controls and procedures were not effective as of that date.

Pipeline and Expected Milestones

For budoprutug in primary membranous nephropathy, the FDA granted Fast Track Designation in April 2026. Enrollment is ongoing in the second cohort (600 mg) of the Phase 2 PrisMN trial, and the company expects initial data from the low dose cohort at a medical meeting in the fourth quarter of 2026. In immune thrombocytopenia, it expects additional data from the 500 mg and 1000 mg cohorts in the fourth quarter of 2026.

In systemic lupus erythematosus, the company expects initial B-cell data from its global Phase 1b trial in the fourth quarter of 2026. It dosed the first patient in a Phase 1b/2a trial in China in June 2026. For CLYM116, the company completed dosing in its Phase 1 trial in June 2026, and expects initial Phase 2 data from its partner Mabworks in 2027.