Generate Biomedicines Inc. Reports Second Quarter 2026 Financial Results and Provides Business Update
Rhea-AI Summary
Generate Biomedicines (NASDAQ: GENB) reported Q2 2026 collaboration revenue of $6.3 million, down from $10.1 million a year earlier, and a net loss of $67.3 million versus $56.7 million. Cash, cash equivalents, and marketable securities totaled $457.4 million as of June 30, 2026, which the company believes will fund its current operating plan into the first half of 2028.
Clinical progress included advancing global Phase 3 SOLAIRIA-1 and SOLAIRIA-2 trials of GB-0895 in severe asthma, Phase 1b COPD data and asthma data to be presented at ERS 2026, and enrollment of the first cohort in the Phase 1 study of GB-4362, an FDA Fast Track MMAE neutralizer. Novartis moved an AI-designed biologic from The Generate Platform into its preclinical pipeline, and a Phase 1 trial of GB-5267 CAR T in ovarian cancer is recruiting.
Positive
- Cash and securities $457.4M at June 30, 2026; runway into 1H 2028
- Q2 2026 collaboration revenue $6.3M, reflecting Amgen and Novartis programs
- GB-0895 Phase 3 SOLAIRIA asthma trials recruiting across all six global regions
- GB-4362 received FDA Fast Track; first Phase 1 cohort enrolled and dosed
- Novartis advanced a platform-designed biologic into its preclinical pipeline
- Phase 1 trial for GB-5267 CAR T in ovarian cancer now recruiting
Negative
- Q2 2026 collaboration revenue $6.3M vs. $10.1M in Q2 2025
- Q2 2026 R&D expenses $64.3M vs. $59.7M year over year
- Q2 2026 G&A expenses $13.6M vs. $10.5M year over year
- Q2 2026 net loss $67.3M vs. $56.7M in Q2 2025
- Net cash used in operating activities $138.3M vs. $101.9M for first half
- Company expects to require additional capital for long-term operations
News Explained
Generate says its June 30 cash pool funds the current plan into the first half of 2028, but additional long-term capital is expected.
Generate reports its second-quarter results with programs still advancing, while saying its June 30 cash, cash equivalents, and marketable securities of
The June 30 balance sheet also reports
Market reaction after 2Q26 earnings report: GENB -7.18%
Following this news, GENB has declined 7.18%, reflecting a notable negative market reaction. Our momentum scanner has triggered 10 alerts so far, indicating notable trading interest and price volatility. The stock is currently trading at $13.45.
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Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| May 07 | Q1 earnings report | Negative | -11.2% | Revenue and cash runway update accompanied a negative 24-hour price reaction. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
The only tag-specific prior earnings event had a -11.21% 24-hour reaction, so no broader earnings pattern is established.
Key Terms
pharmacokinetic medical
pharmacodynamic medical
monoclonal antibody medical
fda fast track designation regulatory
car t medical
AI-generated analysis. How Rhea-AI works. Not financial advice.
SOLAIRIA-1 AND SOLAIRIA-2 Phase 3 studies for GB-0895 (anti-TSLP) in severe asthma continue to advance with recruitment underway across all six global regions
Phase 1b data for GB-0895 in COPD to be presented in a poster at the European Respiratory Society (ERS) Congress 2026 on Sept. 8
All patients enrolled in first cohort of the Phase 1 study for GB-4362 (MMAE neutralizer)
Platform advancements extend across strategic collaborations
Approximately
SOMERVILLE, Mass., Aug. 06, 2026 (GLOBE NEWSWIRE) -- Generate Biomedicines Inc. (NASDAQ: GENB) (“Generate”) today reported financial results for the second quarter ended June 30, 2026, and highlighted continued progress across its platform, pipeline, and collaborations.
“Our team’s focus on execution for our clinical programs and translating our generative biology platform into the next generation of differentiated medicines drove strong progress in the second quarter,” said Mike Nally, chief executive officer of Generate Biomedicines Inc. “With GB-0895, our global Phase 3 SOLAIRIA studies in severe asthma continue to advance. We dosed the first cohort in our Phase 1 study of our MMAE neutralizer, designed to reduce treatment-limiting toxicities from antibody drug conjugates, and Novartis advanced a biologic designed with our platform into its preclinical pipeline for further development. Together, these milestones demonstrate that we can repeatedly advance programs in our own pipeline and through collaborations.”
“Our platform and continued pipeline progress create optionality,” said Jason Silvers, president and chief financial officer of Generate Biomedicines Inc. “Because our platform is inherently scalable, we can simultaneously advance our internal pipeline, execute on existing collaborations, and enter into additional strategic partnerships. That growing opportunity set makes disciplined capital allocation increasingly important as we determine the optimal path for each program and opportunity.”
Recent Progress
The Generate Platform connects computational design, large-scale experimentation, and development as one system, repeatably advancing programs across multiple development paths. Strategic investments in agentic systems are enabling the platform and our new pipeline programs to advance at increased speed, scale, and efficiency.
In inflammation and immunology, Generate is advancing GB-0895 in severe asthma and COPD. GB-0895 is an investigational anti-TSLP monoclonal antibody for which the World Health Organization has proposed the international nonproprietary name golukibart.
- In severe asthma, the global SOLAIRIA-1 and SOLAIRIA-2 replicate Phase 3 studies continue to advance. To date, the studies have received regulatory approvals in 33 countries as part of a planned 42-country development program. Additional approvals are ongoing, and recruitment is underway across all six global regions, including North America; Eastern Europe/Central Europe; Asia; Western Europe; LATAM; and the Middle East, Africa, and South Asia.
- At the European Respiratory Society (ERS) Congress 2026, Generate will present three posters on GB-0895 in COPD and severe asthma. The COPD poster will present safety, pharmacokinetic, and pharmacodynamic data from the ongoing Phase 1b study in adults with COPD on Sept. 8. Two additional posters will present complete Phase 1 data in asthma and the design of the ongoing SOLAIRIA-1 and SOLAIRIA-2 replicate Phase 3 studies in severe asthma.
In oncology, Generate is advancing GB-4362, an MMAE neutralizer designed to selectively bind and neutralize circulating free MMAE after it is released from the ADC, with the goal of reducing treatment-limiting MMAE-related toxicities while preserving the intended activity of the ADC. GB-4362 has received FDA Fast Track designation for the prevention and/or reduction of enfortumab vedotin-induced toxicity in patients with urothelial cancer.
- All patients were enrolled and initial patients dosed in the first cohort of the Phase 1 study evaluating GB-4362 in combination with enfortumab vedotin and pembrolizumab for locally advanced or metastatic urothelial cancer.
- A trial-in-progress abstract for GB-4362 has been accepted for poster presentation at the European Society for Medical Oncology (ESMO) Congress 2026, to be held Oct. 23-27, 2026, in Madrid, Spain.
Through a multi-target collaboration, Novartis has advanced a biologic designed with The Generate Platform into its preclinical pipeline for further development. This marks the first time a biologic engineered using an AI-enabled platform has reached this stage.
The Phase 1 study evaluating GB-5267, an IL-18 armored MUC16 CAR T for patients with advanced, platinum-resistant ovarian cancer, which Generate is conducting in collaboration with Roswell Park Comprehensive Cancer Center, is now recruiting. The first patient is expected to be dosed in 2026.
Financial Results
Cash, cash equivalents, and marketable securities were
Revenue for the quarter ended June 30, 2026, was
Research and development expenses were
General and administrative expenses were
Net loss was
Net cash used in operating activities was
About Generate:Biomedicines Inc.
Generate (NASDAQ: GENB) is a clinical-stage generative biology company founded at the intersection of machine learning, biological engineering, and medicine, advancing a new era of programmable biology to engineer better medicines for patients, faster. The Generate Platform integrates computational design with large-scale biological experimentation, enabling the creation of novel, optimized therapeutics that address historically undruggable and hard-to-drug targets, as well as known targets in new and more effective ways. The platform has enabled the generation of a broad pipeline of therapies across multiple therapeutic areas and protein-based modalities, addressing health challenges out of reach of traditional approaches. Founded in 2018, Generate is leading a fundamental shift from drug discovery to drug generation. Learn more at www.generatebiomedicines.com or follow us on X, LinkedIn, and YouTube.
Digital Media Disclosure
From time to time Generate has used, or expects in the future to use, its investor website (investors.generatebiomedicines.com), the Generate LinkedIn account (linkedin.com/company/generate-biomedicines), and the Generate X account (@generate_biomed) as means of disclosing information to the public in a broad, non-exclusionary manner, including for purposes of the SEC’s Regulation Fair Disclosure (Reg FD). Accordingly, investors should monitor the investor website and these social media channels in addition to news releases, SEC filings, public conference calls, and webcasts, as the information posted on them could be material to investors.
Cautionary Note Regarding Forward-Looking Statements
This news release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this news release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding Generate’s expectations relating to the advancement of its product candidates; the initiation, timing, progress, and results of its clinical trials, including the upcoming poster presentations of clinical trial data for GB-0895 and GB-4362 and the timing of dosing of the first patient in the Phase 1 clinical trial evaluating GB-5267; the expected enhancements, benefits, and the potential of its generative biology platform; and its expected cash runway. In some cases, the forward-looking statements can be identified by terms such as “may,” “will,” “should,” “would,” “expect,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “believe,” “estimate,” “predict,” “potential,” or “continue,” or the negative of these terms or other similar expressions.
These forward-looking statements are based on management’s current expectations and beliefs and are subject to a number of risks, uncertainties, and assumptions that could cause actual results to differ materially from those described in the forward-looking statements, including, but not limited to, risks and uncertainties related to: Generate’s ability to successfully develop and obtain regulatory approval for its product candidates; the initiation, design, progress, timing, and results of preclinical studies and clinical trials; Generate’s ability to obtain, maintain, and enforce intellectual property protection; Generate’s dependence on third parties for the manufacture and development of its product candidates; the impact of competitive products and technologies; Generate’s ability to replicate positive results from earlier preclinical studies or clinical trials in current or future clinical trials; Generate’s ability to demonstrate that its product candidates are safe and effective for their proposed indications; Generate’s ability to obtain additional capital to fund its operations; and general economic, industry, and market conditions.
Additional information on these and other risks and uncertainties that could affect Generate’s business, financial condition, and results of operations is included in Generate’s filings with the Securities and Exchange Commission, including its Quarterly Reports.
The forward-looking statements in this news release are made as of the date hereof, and Generate undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of this news release, except as required by applicable law.
Generate Media Contact
Megan McLaughlin
pr@generatebiomedicines.com
| GENERATE BIOMEDICINES, INC. AND SUBSIDIARIES | ||||||||
| CONDENSED CONSOLIDATED BALANCE SHEETS | ||||||||
| (in thousands, except share and per share data) (unaudited) | ||||||||
| As of June 30, | As of December 31, | |||||||
| 2026 | 2025 | |||||||
| Assets | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 135,359 | $ | 121,650 | ||||
| Marketable securities | 322,056 | 99,848 | ||||||
| Restricted cash and cash equivalents (VIE) | — | 339 | ||||||
| Prepaid expenses and other current assets | 12,838 | 12,528 | ||||||
| Total current assets | 470,253 | 234,365 | ||||||
| Property and equipment, net | 27,305 | 29,151 | ||||||
| Operating lease right-of-use assets | 55,074 | 59,860 | ||||||
| Other assets | 9,058 | 6,806 | ||||||
| Total assets | $ | 561,690 | $ | 330,182 | ||||
| Liabilities, convertible preferred stock, non-controlling interest and stockholders’ deficit | ||||||||
| Current liabilities: | ||||||||
| Accounts payable(1) | $ | 5,653 | $ | 3,837 | ||||
| Accrued expenses and other current liabilities | 25,196 | 42,164 | ||||||
| Deferred revenue - current | 12,168 | 21,194 | ||||||
| Current portion of finance lease liabilities | 3,744 | 4,311 | ||||||
| Operating lease liabilities - current | 9,875 | 10,697 | ||||||
| Total current liabilities | 56,636 | 82,203 | ||||||
| Non-current liabilities: | ||||||||
| Warrant to purchase convertible preferred stock | — | 1,205 | ||||||
| Finance lease liabilities, net of current portion | 1,366 | 2,908 | ||||||
| Deferred revenue - non-current | — | 4,511 | ||||||
| Operating lease liabilities - non-current | 47,643 | 50,610 | ||||||
| Other long term liabilities | — | 116 | ||||||
| Total liabilities | 105,645 | 141,553 | ||||||
| Commitments and contingencies (Note 13) | ||||||||
| Convertible preferred stock | — | 811,826 | ||||||
| Non-controlling interest | — | (7,232 | ) | |||||
| Stockholders’ equity (deficit): | ||||||||
| Common stock, par value | 128 | 33 | ||||||
| Additional paid-in capital | 1,261,040 | 60,189 | ||||||
| Accumulated other comprehensive (loss) income | (129 | ) | 106 | |||||
| Accumulated deficit | (804,994 | ) | (676,293 | ) | ||||
| Total stockholders’ equity (deficit) | 456,045 | (615,965 | ) | |||||
| Total liabilities, convertible preferred stock, non-controlling interests and stockholders’ equity (deficit) | $ | 561,690 | $ | 330,182 | ||||
| _________________ | ||||||||
| (1) Includes related party amounts of | ||||||||
| GENERATE BIOMEDICINES, INC. AND SUBSIDIARIES | ||||||||||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS | ||||||||||||||||
| (in thousands, except share and per share data) (unaudited) | ||||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Collaboration revenue | $ | 6,314 | $ | 10,130 | $ | 13,538 | $ | 18,948 | ||||||||
| Operating expenses: | ||||||||||||||||
| Research and development(1) | 64,330 | 59,735 | 122,142 | 106,560 | ||||||||||||
| General and administrative(2) | 13,598 | 10,545 | 27,122 | 20,692 | ||||||||||||
| Total operating expenses | 77,928 | 70,280 | 149,264 | 127,252 | ||||||||||||
| Loss from operations | (71,614 | ) | (60,150 | ) | (135,726 | ) | (108,304 | ) | ||||||||
| Other income (expense), net | ||||||||||||||||
| Change in fair value of convertible preferred stock warrant liability | — | — | (363 | ) | — | |||||||||||
| Interest expense | (155 | ) | (307 | ) | (337 | ) | (675 | ) | ||||||||
| Interest income | 4,629 | 3,789 | 7,542 | 8,070 | ||||||||||||
| Foreign currency exchange loss | (62 | ) | (30 | ) | (4 | ) | (47 | ) | ||||||||
| Total other income (expense), net | 4,412 | 3,452 | 6,838 | 7,348 | ||||||||||||
| Loss before provision for income taxes | (67,202 | ) | (56,698 | ) | (128,888 | ) | (100,956 | ) | ||||||||
| Provision for income taxes | (53 | ) | (44 | ) | (81 | ) | (100 | ) | ||||||||
| Net loss | (67,255 | ) | (56,742 | ) | (128,969 | ) | (101,056 | ) | ||||||||
| Net loss attributable to non-controlling interests | — | (4,313 | ) | (268 | ) | (6,942 | ) | |||||||||
| Net loss attributable to Generate Biomedicines, Inc. stockholders | (67,255 | ) | (52,429 | ) | (128,701 | ) | (94,114 | ) | ||||||||
| Convertible preferred stock accrued dividends | — | (11,593 | ) | (7,749 | ) | (23,185 | ) | |||||||||
| Net loss attributable to Generate Biomedicines, Inc. common stockholders | $ | (67,255 | ) | $ | (64,022 | ) | $ | (136,450 | ) | $ | (117,299 | ) | ||||
| Net loss per share, basic and diluted | $ | (0.52 | ) | $ | (1.94 | ) | $ | (1.41 | ) | $ | (3.57 | ) | ||||
| Weighted average common shares outstanding, basic and diluted | 128,240,371 | 32,996,506 | 96,730,886 | 32,894,770 | ||||||||||||
| Other comprehensive loss: | ||||||||||||||||
| Net loss | (67,255 | ) | (56,742 | ) | (128,969 | ) | (101,056 | ) | ||||||||
| Unrealized loss on marketable securities | (153 | ) | (57 | ) | (235 | ) | (128 | ) | ||||||||
| Comprehensive loss | $ | (67,408 | ) | $ | (56,799 | ) | $ | (129,204 | ) | $ | (101,184 | ) | ||||
| Comprehensive loss attributable to non-controlling interest | — | (4,313 | ) | (268 | ) | (6,942 | ) | |||||||||
| Comprehensive loss attributable to Generate Biomedicines, Inc. stockholders | $ | (67,408 | ) | $ | (52,486 | ) | $ | (128,936 | ) | $ | (94,242 | ) | ||||
| _________________ | ||||||||||||||||
| (1) Includes related party amounts of | ||||||||||||||||
| (2) Includes related party amounts of | ||||||||||||||||
