Latigo Biotherapeutics (Nasdaq: LTGO) reported a third-quarter 2026 net loss of $20.949 million while advancing its non-opioid pain drug programs. The loss narrowed from $24.796 million a year earlier. Cash and cash equivalents totaled $401.2 million at September 30, which the company expects to fund current operating plans into 2029.
Onzotrigine’s Phase 3 bunionectomy and open-label safety trials remain on track for initiation, with topline results expected in the second half of 2027. Latigo plans to add an oxycodone/acetaminophen comparator arm to the bunionectomy trial, now expected to enroll approximately 480 patients. The ongoing LTG-321 Phase 2 chronic-pain trial also has topline results expected in the second half of 2027. Exploratory abdominoplasty data showed greater than 70% pain reduction at 24 hours in 36% of high-dose onzotrigine participants, versus 24% with the opioid comparator and 13% with placebo.
Latigo Biotherapeutics (Nasdaq: LTGO) appointed Todd N. Smith as president and chief executive officer, effective immediately, succeeding Nima Farzan. Farzan will remain a strategic advisor through 2027. Smith, an independent director since July 2026, will continue serving on the board.
Smith outlined plans to initiate the Phase 3 program of onzotrigine, continue Phase 2 development of LTG-321 and move additional pipeline assets into clinical development. He also plans to begin preparing Latigo to become a commercial-stage organization. Smith has over three decades of experience, including late-stage development and pain-therapy launches. The transition follows Latigo's IPO earlier this year; Smith described the company as well-capitalized to pursue its non-opioid pain medicine programs.
Latigo Biotherapeutics (LTGO) management will participate in two investor conferences in November, with fireside chats in Boston and London. The Guggenheim 3rd Annual Healthcare Innovation Conference chat is November 10, 2026, at 8:30 a.m. ET; the Jefferies Global Healthcare Conference chat is November 16, 2026, at 3:30 p.m. GMT. Management will also be available for one-on-one meetings with investors registered for the conferences.
Latigo Biotherapeutics (LTGO) reported second quarter 2026 results and recent pipeline and financing milestones, including completion of a $397.4 million IPO.
Gross IPO proceeds, together with existing cash, are expected to fund operations into 2029. As of June 30, 2026, cash and cash equivalents were $55.0 million. Q2 2026 research and development expenses were $21.2 million, down from $22.9 million a year earlier, while general and administrative expenses rose to $4.6 million from $2.8 million. Net loss was $25.8 million for both Q2 2026 and Q2 2025.
The New England Journal of Medicine published positive abdominoplasty data for lead NaV1.8 inhibitor onzotrigine, which met its primary endpoint and showed opioid-sparing potential. The company plans Phase 3 acute pain trials in 2H 2026 with topline data expected in 2H 2027, and is running a Phase 2 trial of LTG-321 in osteoarthritis and advancing next-generation candidate LTG-418.
Latigo Biotherapeutics (Nasdaq: LTGO) priced its upsized initial public offering of 19,200,000 common shares at $18.00 per share, for expected gross proceeds of $345.6 million before fees and expenses. All shares are being sold by Latigo.
Underwriters have a 30-day option to buy up to 2,880,000 additional shares at the public price, less discounts and commissions. Trading on the Nasdaq Global Select Market is expected to begin on August 7, 2026, with closing anticipated on August 10, 2026, subject to customary conditions.