Attovia Therapeutics Reports Second Quarter 2026 Financial Results and Provides a Corporate Update
Attovia pairs early clinical validation of ATTO-1310 with an upsized IPO that extends its cash runway into 2030 while losses increase.
Rhea-AI Summary
Attovia Therapeutics (ATTO) reported second quarter 2026 results and highlighted clinical and financing milestones for its ATTOBODY-based pipeline.
Lead asset ATTO-1310/b) showed preliminary clinical proof of concept in chronic pruritus and high-itch atopic dermatitis, with rapid, deep itch relief and consistent lesion control after a single dose in a Phase 1b study. Complete Phase 1b data are expected in Q4 2026, and global Phase 2 trials in chronic pruritus of unknown origin and high-itch AD are planned to start in the first half of 2027. IND clearance was received in China for a Phase 1b trial in cholestatic pruritus linked to PBC or PSC.Preclinical programs ATTO-2306 and ATTO-1091 remain in IND-enabling studies, with Phase 1 starts targeted for the first half of 2027, and ATTO-006 is advancing toward candidate nomination by year-end 2026. The company completed an upsized IPO with gross proceeds of approximately $332.4 million, and expects cash, cash equivalents and marketable securities, including roughly $305.4 million in IPO net proceeds, to fund operations into 2030. In Q2 2026, Attovia recorded $0.5 million in collaboration revenue, $18.9 million in R&D expenses, $3.3 million in G&A expenses and a net loss of $20.7 million.
Positive
- Upsized IPO gross proceeds of approximately $332.4 million strengthen the balance sheet
- Cash, cash equivalents and marketable securities plus IPO net proceeds are expected to fund operations into 2030
- ATTO-1310 showed preliminary clinical proof of concept with rapid itch relief and lesion control in Phase 1b
- Global Phase 2 trials for ATTO-1310 in CPUO and high-itch AD are planned to start in the first half of 2027
- IND clearance in China obtained for an ATTO-1310 Phase 1b trial in cholestatic pruritus associated with PBC or PSC
- Collaboration revenue of $0.5 million in Q2 2026 from EndPath RadioTherapeutics services marks new revenue versus 2025
Negative
- Net loss increased to $20.7 million in Q2 2026 from $14.4 million in Q2 2025
- Research and development expenses rose to $18.9 million from $13.6 million year over year in the quarter
- General and administrative expenses increased to $3.3 million from $3.0 million in the prior-year quarter
- Cash, cash equivalents and marketable securities declined to $115.1 million at June 30, 2026 from $152.3 million at December 31, 2025, before IPO proceeds
- Total stockholders’ deficit widened to $145.5 million at June 30, 2026 from $107.4 million at December 31, 2025
News Explained
ATTO-1310 has preliminary proof of concept, but its complete Phase 1b results remain pending until the fourth quarter of 2026.
Attovia reports that ATTO-1310 has completed enrollment and dosing in its Phase 1b study, with preliminary results showing rapid, deep itch relief in chronic pruritus and high-itch atopic dermatitis and consistent lesion control in high-itch AD. This places the program after initial patient testing and preliminary proof of concept, but before the complete dataset.
Complete Phase 1b data are expected in the
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Aug 06 | IPO closing | Positive | -1.0% | IPO closing generated gross proceeds, but shares posted a negative 24-hour reaction. |
| Aug 06 | Nasdaq debut | Neutral | -6.9% | Nasdaq debut followed the IPO, with the stock recording a negative 24-hour reaction. |
| Aug 04 | IPO pricing | Neutral | +10949900.0% | IPO pricing preceded Nasdaq trading and was followed by a recorded price reaction. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Prior IPO-related announcements produced negative or inconsistent 24-hour reactions despite neutral or constructive disclosures.
Key Terms
immunogenicity medical
fc-fusion protein technical
bispecific antibody medical
trispecific medical
AI-generated analysis. How Rhea-AI works. Not financial advice.
ATTO-1310 demonstrated preliminary clinical proof of concept in chronic pruritus and high-itch atopic dermatitis (AD); complete Phase 1b data expected in Q4 2026
Phase 2 studies of ATTO-1310 in chronic pruritus of unknown origin and high-itch AD planned for 1H 2027
Phase 1 initiation for ATTO-2306 and ATTO-1091 planned in 1H 2027
Upsized Initial Public Offering (IPO) gross proceeds of
SAN CARLOS, Calif., Sept. 02, 2026 (GLOBE NEWSWIRE) -- Attovia Therapeutics, Inc. (“Attovia” or the “Company”) (Nasdaq: ATTO), a clinical-stage biopharmaceutical company developing next-generation biotherapeutics for immune-mediated diseases with high unmet need, today reported financial results for the second quarter ended June 30, 2026 and provided a corporate update.
“Following the successful completion of our upsized IPO, Attovia enters its next exciting phase with a strong balance sheet and clear line of sight to multiple potential near-term value-creating milestones,” said Tao Fu, Founder and Chief Executive Officer of Attovia. “The preliminary clinical proof of concept for ATTO-1310 in chronic pruritus and high-itch AD provides important validation of both the program and our ATTOBODY platform. We are advancing ATTO-1310 toward two large Phase 2 studies while progressing ATTO-2306 and ATTO-1091 toward the clinic in the first half of 2027. With multiple internally discovered programs moving through development, we remain focused on disciplined execution and building Attovia into a sustainable, multi-product biotechnology company with the goal of shaping the future of immune-mediated diseases.”
Recent Pipeline Highlights and Upcoming Milestones
ATTO-1310 for pruritic diseases: a novel, highly potent, half-life extended ATTOBODY-based Fc-fusion protein targeting the itch cytokine IL-31.
- Completed the Phase 1a study in healthy volunteers in which ATTO-1310 demonstrated favorable tolerability, rapid and sustained suppression of IL-31, and low immunogenicity.
- Completed enrollment and dosing in the double-blind, placebo-controlled Phase 1b study in patients with chronic pruritus and high-itch AD. Preliminary results showed that a single dose of ATTO-1310 was followed by rapid, deep itch relief in both patient populations, and consistent lesion control was demonstrated in patients with high-itch AD, providing clinical proof of concept for ATTO-1310 and the ATTOBODY platform. Complete Phase 1b data are expected in the fourth quarter of 2026.
- Submitted the protocol for the global Phase 2 study in patients with chronic pruritus of unknown origin (CPUO) to the U.S. Food and Drug Administration (FDA) after incorporating the agency’s feedback on key design elements and endpoints. Study initiation is planned for the first half of 2027.
- Global Phase 2 study in patients with high-itch AD is planned to initiate in the first half of 2027.
- Received IND clearance for Phase 1b trial in patients with cholestatic pruritus associated with primary biliary cholangitis (PBC) or primary sclerosing cholangitis (PSC) in China in less than 30 working days via National Medical Products Administration (NMPA)’s new expedited review pathway.
ATTO-2306 for AD and other immune-mediated skin diseases: a highly potent, half-life extended ATTOBODY-based bispecific antibody targeting IL-31 and IL-13.
- In preclinical studies, ATTO-2306 demonstrated highly potent inhibition of IL-31 and IL-13, long half-life, and low immunogenicity risk.
- IND-enabling activities are ongoing with Phase 1 initiation expected in the first half of 2027.
ATTO-1091 for inflammatory bowel disease: a next-generation ATTOBODY-based trispecific designed to target TL1A, IL-23p19, and integrin α4β7.
- In preclinical studies, ATTO-1091 demonstrated potent inhibition of all three targets, low immunogenicity risk and favorable developability properties.
- IND-enabling activities are ongoing with Phase 1 initiation expected in the first half of 2027.
Early-stage pipeline
- Advanced ATTO-006, a conditional “AND-gated” bispecific tissue-resident memory T cell (Trm) survival blocker for a broad range of immune-mediated diseases, toward development candidate nomination by year-end 2026.
Corporate Highlights
- Completed an upsized IPO with aggregate gross proceeds of approximately
$332.4 million , before deducting underwriting discounts and commissions and other offering expenses. The Company’s common stock is now trading on the Nasdaq Global Market under the ticker symbol “ATTO”. - Strengthened the Board of Directors with the appointment of John W. Smither, a proven financial leader with extensive public company board and audit committee experience.
Second Quarter Financial Results
Revenue: Collaboration revenue for the quarter ended June 30, 2026 was
Cash Position: Cash, cash equivalents and marketable securities were
Research & Development (R&D) Expenses: Research and development expenses were
General & Administrative (G&A) Expenses: General and administrative expenses were
Net Loss: Net loss was
About Attovia Therapeutics, Inc.
Attovia™ is a clinical-stage biopharmaceutical company developing next-generation biotherapeutics for immune-mediated diseases with high unmet need. All of its product candidates have been internally discovered using its ATTOBODY™ biparatopic biologics platform. Attovia’s ATTOBODY platform uses an evolution-driven, high-throughput process that allows for rapid discovery and creation of a high diversity of potential product candidates.
Attovia’s lead programs include ATTO-1310, an anti-IL-31 therapeutic in clinical development for chronic pruritic diseases; ATTO-2306, a bispecific antibody targeting IL-31 and IL-13 in IND-enabling studies for atopic dermatitis and other immune-mediated skin diseases; and ATTO-1091, a trispecific antibody targeting TL1A, IL-23p19, and integrin α4β7 in IND-enabling studies for inflammatory bowel disease. Attovia’s other programs include highly innovative conditional ‘AND’ gated bispecific immune cell survival blockers and multispecifics.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect the current beliefs and expectations of management. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including, without limitation, statements concerning the Company’s future plans and prospects; any expectations regarding the safety or efficacy of ATTO-1310, ATTO-2306, and ATTO-1091, and other candidates under development; the ability of such candidates to treat their indications; the planned timing of the Company’s clinical trials, data results and further development of its product candidates; the sufficiency of the Company’s current cash, cash equivalents and marketable securities to fund its operations; and the Company’s expected cash runway. In addition, when or if used in this press release, the words “may,” “could,” “should,” “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,” “will,” “predict” and similar expressions and their variants, as they relate to the Company may identify forward-looking statements. Forward-looking statements are neither historical facts nor assurances of future performance. Although the Company believes the expectations reflected in such forward-looking statements are reasonable, the Company can give no assurance that such expectations will prove to be correct. Readers are cautioned that actual results, levels of activity, safety, performance or events and circumstances could differ materially from those expressed or implied in the Company’s forward-looking statements due to a variety of factors, including risks and uncertainties related to the Company’s ability to advance its product candidates and obtain regulatory approval of and ultimately commercialize such product candidates, the timing and results of preclinical studies and clinical trials, the Company’s ability to fund development activities and achieve development goals, its ability to protect its intellectual property, general business and economic conditions, and risks related to the impact on its business of macroeconomic and geopolitical conditions, including inflation, volatile interest rates, tariffs, instability in the global banking sector, public health crises, and geopolitical conflicts. Further information on potential risk factors that could affect the Company’s business and its financial results are detailed under the heading “Risk Factors” included in the documents the Company files from time to time with the U.S. Securities and Exchange Commission. Accordingly, readers are cautioned not to place undue reliance on these forward-looking statements. These forward-looking statements speak only as of the date of this press release and Attovia undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date hereof.
Investor and Media Contact
Attovia Therapeutics
ir@attovia.com
PJ Kelleher
LifeSci Advisors LLC
617-430-7579
pkelleher@lifesciadvisors.com
| Attovia Therapeutics, Inc. Condensed Consolidated Balance Sheets (unaudited) (in thousands, except share and per share amounts) | ||||||||
| June 30, 2026 | December 31, 2025 | |||||||
| Cash, cash equivalents, and marketable securities | $ | 115,132 | $ | 152,268 | ||||
| Total assets | 128,348 | 165,893 | ||||||
| Total liabilities | 15,581 | 15,103 | ||||||
| Total redeemable convertible preferred stock | 258,226 | 258,226 | ||||||
| Total stockholders' deficit | (145,459 | ) | (107,436 | ) | ||||
| Attovia Therapeutics, Inc. Condensed Consolidated Statements of Operations (unaudited) (in thousands, except share and per share amounts) | ||||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Revenue | ||||||||||||||||
| Collaboration revenue | $ | 450 | $ | — | $ | 450 | $ | — | ||||||||
| Total revenue | 450 | — | 450 | — | ||||||||||||
| Operating expenses | ||||||||||||||||
| Research and development | $ | 18,946 | $ | 13,588 | $ | 35,692 | $ | 25,444 | ||||||||
| General and administrative | 3,307 | 3,032 | 6,516 | 7,280 | ||||||||||||
| Total operating expenses | 22,253 | 16,620 | 42,208 | 32,724 | ||||||||||||
| Loss from operations | (21,803 | ) | (16,620 | ) | (41,758 | ) | (32,724 | ) | ||||||||
| Other income (expense): | ||||||||||||||||
| Interest income | 1,141 | 2,041 | 2,467 | 3,167 | ||||||||||||
| Change in fair value of preferred stock tranche liability | — | — | — | (170 | ) | |||||||||||
| Other income (expense), net | (25 | ) | 140 | (52 | ) | 137 | ||||||||||
| Total other income (expense), net | 1,116 | 2,181 | 2,415 | 3,134 | ||||||||||||
| Net loss | $ | (20,687 | ) | $ | (14,439 | ) | $ | (39,343 | ) | $ | (29,590 | ) | ||||
| Less: Accretion of redeemable convertible preferred stock to its redemption value | — | — | — | (271 | ) | |||||||||||
| Net loss attributable to common stockholders | $ | (20,687 | ) | $ | (14,439 | ) | $ | (39,343 | ) | $ | (29,861 | ) | ||||
| Net loss per share attributable to common stockholders, basic and diluted | $ | (4.88 | ) | $ | (3.71 | ) | $ | (9.38 | ) | $ | (7.75 | ) | ||||
| Weighted-average common shares outstanding, basic and diluted | 4,237,597 | 3,895,037 | 4,195,615 | 3,851,124 | ||||||||||||
FAQ
What did Attovia Therapeutics (ATTO) report in its Q2 2026 earnings release?
Attovia reported Q2 2026 financial results, highlighted preliminary clinical proof of concept for ATTO-1310 in chronic pruritus and high-itch atopic dermatitis, outlined plans for multiple Phase 2 and Phase 1 trials starting in 2027, and noted completion of an upsized IPO that extends its cash runway into 2030.
What were Attovia Therapeutics’ Q2 2026 financial results for ATTO?
For Q2 2026, Attovia reported $0.5 million in collaboration revenue, $18.9 million in research and development expenses, $3.3 million in general and administrative expenses, and a net loss of $20.7 million. Net loss per share attributable to common stockholders was $4.88, with 4,237,597 weighted-average shares outstanding.
How much cash does Attovia Therapeutics (ATTO) have and how long is its runway?
As of June 30, 2026, Attovia had $115.1 million in cash, cash equivalents and marketable securities. Including approximately $305.4 million in net proceeds from its August 2026 IPO, the company expects its current cash resources to fund operations into 2030, based on its stated plans.
What clinical progress did Attovia report for ATTO-1310 in the Q2 2026 update?
ATTO-1310 completed a Phase 1a study with favorable tolerability and sustained IL-31 suppression. In a Phase 1b trial, a single dose led to rapid, deep itch relief in chronic pruritus and high-itch AD patients, with consistent lesion control in high-itch AD, providing preliminary clinical proof of concept.
What are the upcoming clinical milestones for Attovia Therapeutics’ pipeline after Q2 2026?
Complete Phase 1b data for ATTO-1310 are expected in Q4 2026. Global Phase 2 studies in chronic pruritus of unknown origin and high-itch atopic dermatitis are planned to begin in the first half of 2027. Phase 1 trials for ATTO-2306 and ATTO-1091 are also planned for the first half of 2027.
How much did Attovia Therapeutics (ATTO) raise in its IPO and where is it listed?
Attovia completed an upsized initial public offering with aggregate gross proceeds of approximately $332.4 million, before underwriting discounts, commissions and other expenses. Its common stock now trades on the Nasdaq Global Market under the ticker symbol “ATTO”.
What was the source of Attovia’s Q2 2026 collaboration revenue for ATTO?
Collaboration revenue for the quarter ended June 30, 2026, totaling $0.5 million, was attributable to research and development services provided under the EndPath RadioTherapeutics license agreement. There was no collaboration revenue in the second quarter of 2025.