Attovia posts $20.7M loss, sees cash to 2030
Attovia pairs early clinical proof of concept for ATTO-1310 with a cash runway into 2030 following a $332.4 million upsized IPO.
Rhea-AI Filing Summary
Attovia Therapeutics, Inc. (ATTO) reported second quarter 2026 results and a corporate update, highlighted by preliminary clinical proof of concept for lead candidate ATTO-1310 in chronic pruritus and high-itch atopic dermatitis, showing rapid, deep itch relief and lesion control in a Phase 1b study.
The company plans two global Phase 2 trials of ATTO-1310 in chronic pruritus of unknown origin and high-itch atopic dermatitis, both targeted to start in the first half of 2027, and is advancing ATTO-2306 and ATTO-1091 toward Phase 1 initiation in the same timeframe. Early program ATTO-006 is being moved toward development candidate nomination by year-end 2026.
Attovia completed an upsized IPO with $332.4 million in gross proceeds and expects that existing cash, cash equivalents and marketable securities, including $305.4 million of IPO net proceeds, will fund operations into 2030. For the quarter ended June 30, 2026, collaboration revenue was $0.5 million, research and development expenses were $18.9 million, and net loss was $20.7 million. Cash, cash equivalents and marketable securities were $115.1 million as of June 30, 2026, prior to the August IPO.
Positive
- Upsized IPO strengthens balance sheet: Completed an IPO with approximately $332.4 million in gross proceeds and about $305.4 million in net proceeds, supporting a projected cash runway into 2030.
- Clinical proof of concept for ATTO-1310: Preliminary Phase 1b data in chronic pruritus and high-itch atopic dermatitis showed rapid, deep itch relief and lesion control, providing clinical proof of concept for ATTO-1310 and the ATTOBODY platform.
Negative
- Net loss widened year over year: Quarterly net loss increased to $20.7 million for the three months ended June 30, 2026, compared with $14.4 million in the same period of 2025.
- Cash balance declined before IPO: Cash, cash equivalents and marketable securities were $115.1 million as of June 30, 2026, down from $152.3 million as of December 31, 2025, reflecting ongoing operating cash burn prior to IPO proceeds.
Insights
Analyzing...
8-K Event Classification
Key Figures
Key Terms
clinical proof of concept medical
IND-enabling activities regulatory
atopic dermatitis medical
chronic pruritus of unknown origin medical
redeemable convertible preferred stock financial
at-the-market regulatory
Earnings Snapshot
The company expects its current cash, cash equivalents and marketable securities, including approximately $305.4 million in net IPO proceeds, will fund operations into 2030.
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item 2.02 Results of Operations and Financial Condition.
On September 2, 2026, Attovia Therapeutics, Inc. (the “Company”) issued a press release reporting its financial results for the second quarter ended June 30, 2026. The full text of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
The information in Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section or Section 11 or 12(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”), nor shall it be deemed incorporated by reference into any filing by the Company under the Exchange Act or the Securities Act, whether made before or after the date hereof, except as expressly set forth by reference in such filing.
Item 9.01 Financial Statements and Exhibits.
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Description |
99.1 |
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Press Release announcing financial results, dated September 2, 2026 |
104 |
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Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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Attovia Therapeutics, Inc. |
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September 2, 2026 |
By: |
/s/ Tao Fu |
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Tao Fu |
Attovia Therapeutics Reports Second Quarter 2026 Financial Results and Provides a Corporate Update
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 $332.4 million helps extend cash runway into 2030
SAN CARLOS, Calif., September 2, 2026 – 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.
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.
ATTO-1091 for inflammatory bowel disease: a next-generation ATTOBODY-based trispecific designed to target TL1A, IL-23p19, and integrin α4β7.
Early-stage pipeline
Corporate Highlights
Second Quarter Financial Results
Revenue: Collaboration revenue for the quarter ended June 30, 2026 was $0.5 million, attributable to research and development services provided under the EndPath RadioTherapeutics license agreement, compared to no collaboration revenue in the second quarter of 2025.
Cash Position: Cash, cash equivalents and marketable securities were $115.1 million as of June 30, 2026, compared to $152.3 million as of December 31, 2025. The Company expects that its current cash, cash equivalents and marketable securities, including the net proceeds from the IPO completed in August 2026 of approximately $305.4 million, will enable it to fund its operations into 2030.
Research & Development (R&D) Expenses: Research and development expenses were $18.9 million for the quarter ended June 30, 2026, compared to $13.6 million for the second quarter of 2025. The increase in R&D expenses was primarily driven by clinical, manufacturing and preclinical costs to advance ATTO-1310 toward completion of its Phase 1 trial, and manufacturing and preclinical costs to advance ATTO-2306 and ATTO-1091 in IND-enabling activities.
General & Administrative (G&A) Expenses: General and administrative expenses were $3.3 million for the quarter ended June 30, 2026, compared to $3.0 million for the second quarter of 2025. The slight increase in G&A expenses was primarily due to higher personnel costs to support the Company’s growth and public company readiness activities.
Net Loss: Net loss was $20.7 million for the quarter ended June 30, 2026, as compared to $14.4 million for the second quarter of 2025.
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)
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June 30, 2026 |
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December 31, 2025 |
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Cash, cash equivalents, and marketable securities |
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$ |
115,132 |
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$ |
152,268 |
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Total assets |
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128,348 |
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165,893 |
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Total liabilities |
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15,581 |
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15,103 |
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Total redeemable convertible preferred stock |
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258,226 |
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258,226 |
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Total stockholders' deficit |
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(145,459 |
) |
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(107,436 |
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Attovia Therapeutics, Inc.
Condensed Consolidated Statements of Operations (unaudited)
(in thousands, except share and per share amounts)
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2026 |
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2025 |
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2026 |
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2025 |
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Revenue |
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Collaboration revenue |
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$ |
450 |
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$ |
— |
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$ |
450 |
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$ |
— |
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Total revenue |
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450 |
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— |
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450 |
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— |
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Operating expenses |
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Research and development |
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$ |
18,946 |
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$ |
13,588 |
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$ |
35,692 |
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$ |
25,444 |
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General and administrative |
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3,307 |
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3,032 |
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6,516 |
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7,280 |
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Total operating expenses |
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22,253 |
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16,620 |
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42,208 |
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32,724 |
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Loss from operations |
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(21,803 |
) |
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(16,620 |
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(41,758 |
) |
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(32,724 |
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Other income (expense): |
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Interest income |
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1,141 |
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2,041 |
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2,467 |
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3,167 |
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Change in fair value of preferred stock tranche liability |
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— |
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— |
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— |
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(170 |
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Other income (expense), net |
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(25 |
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140 |
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(52 |
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137 |
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Total other income (expense), net |
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1,116 |
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2,181 |
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2,415 |
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3,134 |
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Net loss |
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$ |
(20,687 |
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$ |
(14,439 |
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$ |
(39,343 |
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$ |
(29,590 |
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Less: Accretion of redeemable convertible preferred stock to its |
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— |
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— |
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— |
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(271 |
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Net loss attributable to common stockholders |
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$ |
(20,687 |
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$ |
(14,439 |
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$ |
(39,343 |
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$ |
(29,861 |
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Net loss per share attributable to common stockholders, basic |
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$ |
(4.88 |
) |
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$ |
(3.71 |
) |
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$ |
(9.38 |
) |
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$ |
(7.75 |
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Weighted-average common shares outstanding, basic and |
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4,237,597 |
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3,895,037 |
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4,195,615 |
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3,851,124 |
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