Damora Therapeutics Reports Third Quarter 2026 Financial Results and Recent Corporate Highlights
Quarterly operating cash use was $17.2 million as Damora advanced its clinical and regulatory programs.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Damora Therapeutics (NASDAQ: DMRA) reported a third-quarter 2026 net loss of $31.991 million while advancing its DMR-001 clinical trial. The loss widened from $3.133 million a year earlier. Research and development expenses rose to $25.475 million from $1.416 million, while general and administrative expenses increased to $11.388 million from $1.740 million.
Cash, cash equivalents and marketable securities totaled approximately $528.5 million at September 30, 2026; Damora expects funding to last into the second half of 2029. FDA clearance enables U.S. participation in CLARITY-101, whose dose-escalation enrollment is ongoing at multiple sites. Damora plans two clinical proof-of-concept datasets beginning mid-2027, with initial regulatory submissions for DMR-002 in the fourth quarter of 2026 and DMR-003 in 2027. It also secured an exclusive worldwide, royalty-bearing license from Paragon Therapeutics for DMR-001 and DMR-002.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Moderate point. Forward-looking: it has not happened yet and may not happen.Cash and securities of approximately $528.5 million are expected to fund operations into the second half of 2029.
- Moderate point. Forward-looking: it has not happened yet and may not happen.Two clinical proof-of-concept datasets from CLARITY-101 are planned beginning mid-2027.
- Moderate pointParagon license grants exclusive worldwide development, manufacturing and commercialization rights for DMR-001 and DMR-002.
- Minor pointFDA clearance enables U.S. CLARITY-101 initiation; dose-escalation enrollment is ongoing at multiple clinical sites.
- Minor point. Forward-looking: it has not happened yet and may not happen.DMR-002 initial regulatory submission is planned for the fourth quarter of 2026.
3 minor points
- Minor point. Forward-looking: it has not happened yet and may not happen.DMR-003 initial regulatory submission is planned for 2027.
- Minor pointOther income rose to $4.872 million in Q3 2026 from $0.023 million; nine-month income reached $12.017 million versus $0.079 million.
- Minor pointOrdinary-share loss narrowed to $0.40 in Q3 2026 from $2.36; nine-month loss narrowed to $1.19 from $6.88.
Negative
- Moderate pointNet loss widened to $31.991 million in Q3 2026 from $3.133 million; nine-month loss reached $90.948 million versus $9.103 million.
- Minor pointR&D expenses rose to $25.475 million in Q3 2026 from $1.416 million; nine-month expenses reached $74.792 million versus $3.559 million.
- Minor pointG&A expenses rose to $11.388 million in Q3 2026 from $1.740 million; nine-month expenses reached $27.876 million versus $5.617 million.
- Minor pointOperating activities used $17.2 million of cash in the third quarter of 2026.
- Minor pointParagon license carries royalty obligations.
2 minor points
- Minor point. Forward-looking: it has not happened yet and may not happen.Additional geographic regulatory submissions have been made or are planned by year-end 2026 to expand CLARITY-101.
- Minor pointThe Paramora warrant obligation stood at $11.862 million on September 30, 2026, versus none at December 31, 2025.
News Explained
Damora reports that preclinical testing found DMR-001 had an average 95-fold improvement in anti-proliferative potency over a reference antibody across 10 non-Type 1 CALR mutations; the data are scheduled for poster presentation at ASH in December.
AI-generated analysis. How Rhea-AI works. Not financial advice.
-- CLARITY-101 Phase 1/1b clinical trial initiated and cleared by multiple global regulatory authorities, including
the U.S. Food and Drug Administration (FDA) --
-- New preclinical data highlighting DMR-001’s potentially best-in-class pan-mutant CALR (mutCALR) activity
to be presented at the American Society of Hematology (ASH) 2026 Annual Meeting --
-- Strong financial position with
September 30, 2026, expected to fund operations into 2H 2029 --
WALTHAM, Mass., Nov. 04, 2026 (GLOBE NEWSWIRE) -- Damora Therapeutics, Inc. (NASDAQ: DMRA), a biotechnology company working to fundamentally redefine care for patients with blood disorders, today announced its operating and financial results for the quarter ended September 30, 2026, and recent corporate highlights.
“Since we initiated the CLARITY-101 trial of DMR-001, we have continued to execute with urgency, initiating enrollment at multiple clinical sites, achieving U.S. FDA clearance of our DMR-001 investigational new drug (IND) application and advancing multiple regulatory submissions to rapidly bring the CLARITY-101 trial to additional regions of the world,” said Jennifer Jarrett, President and Chief Executive Officer of Damora Therapeutics. “In addition, we are excited to present new preclinical data at ASH that further strengthen DMR-001’s differentiated profile, including potentially best-in-class pan-mutant activity across the full range of CALR mutations. Together with our broader portfolio, including DMR-002 and DMR-003, Damora is exceptionally well positioned to address medical needs across the spectrum of patients with mutCALR-driven disease and become a leader in myeloproliferative neoplasms.”
Recent Business Highlights
- Achieved FDA clearance of an IND application for DMR-001, enabling initiation of the CLARITY-101 Phase 1/1b trial of DMR-001 in patients with mutCALR-driven essential thrombocythemia (ET) and myelofibrosis (MF) in the U.S. Enrollment of the Phase 1 dose escalation portion of the trial is ongoing at multiple clinical sites, and regulatory applications have been or are planned to be submitted in additional geographies by the end of 2026 to continue to expand the trial globally and enable two proof-of-concept readouts beginning mid-2027.
- Received acceptance of two DMR-001 abstracts for poster presentation at the ASH 2026 Annual Meeting and Exposition in December. The presentations are expected to highlight new preclinical data on DMR-001’s potentially best-in-class pan-mutant activity and a summary of the CLARITY-101 Phase 1/1b trial design. Read our press release here.
- Previously presented preclinical data highlighted the potentially best-in-class binding affinity and anti-proliferative potency of DMR-001 against Type 1 and Type 2 CALR mutations. Building on this dataset, new preclinical data to be presented at ASH further demonstrate DMR-001’s pan-mutant activity, with robust inhibition of additional noncanonical, non-Type 1 mutations. When compared to a reference antibody, DMR-001 showed an average 95-fold improvement in anti-proliferative potency against a panel of 10 non-Type 1 CALR mutations, including the Type 2 mutation. Additional preclinical data will be presented at the meeting.
- In addition, a trial-in-progress poster on the CLARITY-101 Phase 1/1b trial design will highlight features including an adaptive Bayesian design, a DMR-001 starting dose of 100 mg once-monthly by subcutaneous injection, a plan for rapid escalation to higher doses, and enrichment enabling cohort backfilling. Together, these features are expected to enable rapid identification of a recommended dose for Phase 1b expansion cohorts in multiple ET and MF populations.
- Previously presented preclinical data highlighted the potentially best-in-class binding affinity and anti-proliferative potency of DMR-001 against Type 1 and Type 2 CALR mutations. Building on this dataset, new preclinical data to be presented at ASH further demonstrate DMR-001’s pan-mutant activity, with robust inhibition of additional noncanonical, non-Type 1 mutations. When compared to a reference antibody, DMR-001 showed an average 95-fold improvement in anti-proliferative potency against a panel of 10 non-Type 1 CALR mutations, including the Type 2 mutation. Additional preclinical data will be presented at the meeting.
- Executed a license agreement for DMR-001 and DMR-002 with Paragon Therapeutics pursuant to which Paragon granted Damora an exclusive, worldwide, royalty-bearing license to develop, manufacture and commercialize certain antibodies and products targeting mutCALR.
Anticipated Milestones
DMR-001 (pan-mutant, long-acting, Fc-null anti-mutCALR monoclonal antibody):
- Present new preclinical data highlighting DMR-001’s pan-mutant activity at the ASH Annual Meeting in December.
- Report two clinical proof-of-concept datasets from the CLARITY-101 trial beginning mid-2027.
DMR-002 (pan-mutant, long-acting, Fc-enhanced anti-mutCALR monoclonal antibody):
- Complete the first regulatory submission for DMR-002 in the fourth quarter of 2026.
DMR-003 (T-cell engager anti-mutCALR/CD3 bispecific antibody):
- Complete the first regulatory submission for DMR-003 in 2027.
Third Quarter 2026 Financial Results
Cash Position: Cash, cash equivalents, and marketable securities were approximately
R&D Expenses: Research and development expenses were
G&A Expenses: General and administrative expenses were
Total Other Income: Other income was
Net Loss: Net loss for the three months ended September 30, 2026, was
Upcoming Investor Conferences
Damora Therapeutics will participate in four upcoming investor conferences:
- Guggenheim 3rd Annual Healthcare Innovation Conference on Monday, November 9, 2026, at 4:00 p.m. EST.
- UBS Global Biopharma Conference 2026 on Tuesday, November 17, 2026, at 5:00 a.m. EST (10:00 a.m. GMT)
- Jefferies Global Healthcare Conference on Wednesday, November 18, 2026, at 11:00 a.m. EST (4:00 p.m. GMT)
- 9th Annual Evercore Healthcare Conference on Monday, November 30, 2026, at 2:35 p.m. EST.
Live webcasts of the presentations will be available under "Events" in the Investors section of the Damora Therapeutics website at http://ir.damoratx.com. Replays of the webcasts will be archived on the Damora Therapeutics website for 30 days following the presentations.
About Damora Therapeutics
Damora Therapeutics is an innovative biotechnology company that aims to fundamentally redefine care for patients with blood disorders. We are advancing a new generation of biologics to treat mutant calreticulin-driven myeloproliferative neoplasms, including essential thrombocythemia and myelofibrosis, where there is significant medical need for disease-modifying treatments. With multiple programs with best-in-class potential, our goal is to rapidly bring forward optimized therapies with broad mutation coverage and exceptional convenience to dramatically improve patient outcomes. For more information, visit www.damoratx.com or follow us on LinkedIn.
Forward-Looking Statements
Certain statements in this press release, other than purely historical information, may constitute “forward-looking statements” within the meaning of the federal securities laws, including for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “believe,” “could,” “expect,” “intend,” “may,” “on track,” “plan,” “potential,” “will,” and similar expressions are intended to identify forward-looking statements. These forward-looking statements include, but are not limited to, express or implied statements relating to the Company’s design, conduct, enrollment and timing of the CLARITY-101 trial, including identification of a recommended dose for Phase 1b expansion cohorts and the timing of clinical proof-of-concept datasets; the timing and outcome of regulatory submissions for DMR-001, DMR-002 and DMR-003; the planned presentation of data at the ASH Annual Meeting; the therapeutic potential, differentiation and potential best-in-class profile of the Company’s product candidates; the Company’s strategy and goals; and the sufficiency of the Company’s cash, cash equivalents and marketable securities to fund operations into the second half of 2029. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. These statements are based on management’s current expectations and are subject to risks and uncertainties that could cause actual results to differ materially, including: the risk that preclinical results may not be predictive of clinical results; the Company’s ability to enroll patients and complete clinical trials on expected timelines; the risk that regulatory authorities may delay, condition or not clear the Company’s submissions or trials; the Company’s reliance on third parties, including contract research organizations and manufacturers; the Company’s ability to obtain, maintain and enforce intellectual property rights; competition; the Company’s need for additional capital and the risk that it uses its capital resources sooner than expected; general economic, market and geopolitical conditions; and the other risks described under “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, its Quarterly Report on Form 10-Q for the quarter ended September 30, 2026, and its other SEC filings. Should one or more of these risks or uncertainties materialize, or should any of the Company’s assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth therein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements in this press release, which speak only as of the date they are made and are qualified in their entirety by reference to the cautionary statements herein. Forward-looking statements speak only as of the date of this press release, and the Company undertakes no obligation to update them except as required by law.
Investor/Media Contact:
Jim Baker
Chief Corporate Affairs Officer
Investors: investors@damoratx.com
Media: media@damoratx.com
DAMORA THERAPEUTICS, INC.
Condensed Consolidated Balance Sheets
(in thousands, except share and per share amounts)
| September 30, 2026 | December 31, 2025 | |||||
| Assets | (unaudited) | |||||
| Current assets | ||||||
| Cash and cash equivalents | $ | 349,656 | $ | 257,624 | ||
| Marketable securities | 178,822 | — | ||||
| Prepaid expenses and other current assets | 2,839 | 2,799 | ||||
| Total current assets | 531,317 | 260,423 | ||||
| Operating lease right-of-use asset | 830 | 68 | ||||
| Other assets, noncurrent | 480 | 36 | ||||
| Total assets | $ | 532,627 | $ | 260,527 | ||
| Liabilities and shareholders’ equity | ||||||
| Current liabilities | ||||||
| Accounts payable | $ | 6,084 | $ | 444 | ||
| Accrued expenses and other current liabilities | 12,830 | 2,401 | ||||
| Paramora warrant obligation | 11,862 | — | ||||
| Related party accounts payable and other current liabilities | 4,963 | 17,221 | ||||
| Operating lease liabilities, current | 153 | — | ||||
| Total current liabilities | 35,892 | 20,066 | ||||
| Operating lease liabilities, noncurrent | 946 | 53 | ||||
| Other liabilities, noncurrent | 28 | 28 | ||||
| Total liabilities | 36,866 | 20,147 | ||||
| Mezzanine equity | ||||||
| Preferred shares | — | 1,341 | ||||
| Shareholders’ equity | ||||||
| Series B non-voting convertible preferred shares | 117,621 | 117,621 | ||||
| Series C non-voting convertible preferred shares | 12,376 | 297,291 | ||||
| Ordinary shares | 1 | — | ||||
| Additional paid-in capital | 944,307 | 310,688 | ||||
| Accumulated deficit | (578,311 | ) | (487,363 | ) | ||
| Accumulated other comprehensive (loss) income | (233 | ) | 802 | |||
| Total shareholders’ equity | 495,761 | 239,039 | ||||
| Total liabilities and shareholders’ equity | $ | 532,627 | $ | 260,527 | ||
DAMORA THERAPEUTICS, INC.
Condensed Consolidated Statements of Operations and Comprehensive Loss
(in thousands, except share and per share amounts)
(Unaudited)
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||
| Operating expenses | ||||||||||||||
| Research and development | $ | 25,475 | $ | 1,416 | $ | 74,792 | $ | 3,559 | ||||||
| General and administrative | 11,388 | 1,740 | 27,876 | 5,617 | ||||||||||
| Total operating expenses | 36,863 | 3,156 | 102,668 | 9,176 | ||||||||||
| Loss from operations | (36,863 | ) | (3,156 | ) | (102,668 | ) | (9,176 | ) | ||||||
| Other income (expense), net | ||||||||||||||
| Gain on sale of IP | 750 | — | 750 | — | ||||||||||
| Interest income, net | 4,159 | 42 | 11,288 | 166 | ||||||||||
| Foreign exchange transaction loss, net | (37 | ) | (19 | ) | (21 | ) | (87 | ) | ||||||
| Total other income, net | 4,872 | 23 | 12,017 | 79 | ||||||||||
| Loss before income tax expense | (31,991 | ) | (3,133 | ) | (90,651 | ) | (9,097 | ) | ||||||
| Income tax expense | — | — | (297 | ) | (6 | ) | ||||||||
| Net loss | $ | (31,991 | ) | $ | (3,133 | ) | $ | (90,948 | ) | $ | (9,103 | ) | ||
| Net loss per share, basic and diluted, Series B Preferred Shares | $ | (400.40 | ) | $ | — | $ | (1,188.20 | ) | $ | — | ||||
| Weighted-average Series B non-voting convertible preferred shares outstanding, basic and diluted | 16,366 | — | 16,366 | — | ||||||||||
| Net loss per share, basic and diluted, Series C Preferred Shares | $ | (400.40 | ) | $ | — | $ | (1,188.20 | ) | $ | — | ||||
| Weighted-average Series C non-voting convertible preferred shares outstanding, basic and diluted | 1,722 | — | 7,888 | — | ||||||||||
| Net loss per share, basic and diluted, ordinary shares | $ | (0.40 | ) | $ | (2.36 | ) | $ | (1.19 | ) | $ | (6.88 | ) | ||
| Weighted-average number of shares used in computing net loss per ordinary share, basic and diluted | 61,810,033 | 1,327,039 | 52,289,247 | 1,323,886 | ||||||||||
| Other comprehensive (loss) income, net of tax | ||||||||||||||
| Currency translation gain (loss) | $ | 9 | $ | 14 | $ | (61 | ) | $ | 726 | |||||
| Unrealized loss on marketable securities | (974 | ) | — | (974 | ) | — | ||||||||
| Other comprehensive (loss) income, net of tax | (965 | ) | 14 | (1,035 | ) | 726 | ||||||||
| Total comprehensive loss | $ | (32,956 | ) | $ | (3,119 | ) | $ | (91,983 | ) | $ | (8,377 | ) | ||
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How long does Damora Therapeutics expect its cash to fund operations?
Damora expects its cash, cash equivalents and marketable securities to fund operations into the second half of 2029. These holdings totaled approximately $528.5 million at September 30, 2026. Net cash used in operating activities was $17.2 million during the third quarter of 2026.
When does Damora Therapeutics expect DMR-001 clinical proof-of-concept results?
Damora plans to report two clinical proof-of-concept datasets beginning mid-2027 from CLARITY-101. The Phase 1/1b trial studies DMR-001 in patients with mutant CALR-driven essential thrombocythemia and myelofibrosis. Enrollment in its dose-escalation portion is ongoing at multiple clinical sites.
What DMR-001 preclinical results will Damora present at ASH 2026?
Damora will present preclinical data showing an average 95-fold improvement in anti-proliferative potency, meaning inhibition of cell growth, versus a reference antibody across a panel of 10 non-Type 1 CALR mutations, including Type 2. Two abstracts were accepted for poster presentation at the December meeting, covering preclinical findings and the CLARITY-101 trial design.