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CAMP4 Therapeutics (CAMP) widens Q2 2026 loss, boosts cash runway to 2028

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

CAMP4 Therapeutics reported second quarter 2026 results and clinical progress. Research and collaboration revenue was $1.8 million for the quarter, compared with $1.5 million a year earlier. Research and development expenses were $10.8 million, and general and administrative expenses were $4.3 million, both slightly higher than the prior year period.

Net loss increased to $33.5 million from $12.6 million, driven largely by a $20.9 million non-cash loss from the change in fair value of a derivative tranche liability related to a 2025 private placement. Cash and cash equivalents were $86.4 million as of June 30, 2026, with an additional $50.1 million raised after quarter-end, and the company states this cash is expected to fund planned activities through the end of 2028.

Operationally, CAMP4 obtained regulatory clearance in Australia and Argentina to initiate a first-in-human Phase 1/2 trial of CMP-002 in SYNGAP-1 related disorder, submitted regulatory filings in the EU and UK, completed a second closing of its private placement, and relocated its headquarters to Watertown, Massachusetts.

Positive

  • Revenue growth: Research and collaboration revenue rose to $1.8 million in Q2 2026 from $1.5 million in Q2 2025, indicating increased activity in partnered programs.
  • Extended cash runway: With $86.4 million in cash at June 30, 2026 plus $50.1 million raised after quarter-end, the company expects funding to last through the end of 2028.
  • Clinical advancement: Secured regulatory clearance in Australia and Argentina for a first-in-human Phase 1/2 trial of CMP-002 in SYNGAP-1 related disorder, with trial launch expected in Q4 2026.

Negative

  • Significantly higher net loss: Quarterly net loss widened to $33.5 million from $12.6 million, mainly due to a $20.9 million non-cash loss on a derivative tranche liability.
  • Shift to stockholders' deficit: Total stockholders’ equity moved from $47.7 million at December 31, 2025 to a $0.7 million deficit at June 30, 2026, reflecting accumulated losses and the derivative liability impact.

Filing Explained

The filing also reports weighted-average common shares of 57,929,662 for the quarter, versus 20,159,666 a year earlier; these figures are the share base used for basic and diluted per-share results.

Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Research and collaboration revenue Q2 2026 $1,779 thousand Three months ended June 30, 2026
Net loss Q2 2026 $33,530 thousand Three months ended June 30, 2026
Net loss Q2 2025 $12,587 thousand Three months ended June 30, 2025
Derivative tranche liability loss Q2 2026 $20,930 thousand Change in fair value of derivative tranche liability
Cash and cash equivalents $86,398 thousand As of June 30, 2026
Private placement second closing $50,100 thousand Gross proceeds received after quarter-end
Total stockholders' (deficit) equity $(693) thousand As of June 30, 2026
Accumulated deficit $(344,017) thousand As of June 30, 2026
Phase 1/2 clinical trial medical
"initiate first-in-human Phase 1/2 clinical trial of CMP-002"
A phase 1/2 clinical trial is an early human study that combines first-in-people safety and dosing checks (phase 1) with an initial look at whether the treatment appears to work (phase 2). Think of it as a short test drive where researchers both confirm the product won’t cause serious harm and gather early signs it could be effective; for investors, successful results reduce risk and can unlock value-creating milestones like larger trials or regulatory discussions.
derivative tranche liability financial
"non-cash loss recognized due to a change in fair value of the derivative tranche liability"
working capital financial
"Working capital is defined as total current assets less total current liabilities"
Working capital is the money a business has available to cover its daily expenses, like paying bills and buying supplies. It’s like the cash in your wallet that helps you handle everyday costs; having enough ensures the business can operate smoothly without running into money shortages.
haploinsufficient medical
"genes underlying haploinsufficient and recessive partial loss-of-function disorders"
A haploinsufficient gene is one where losing or disabling just one of the two inherited copies causes a loss of normal function, because the remaining copy cannot make enough product to keep things working. This matters to investors because such genes often drive disease biology, influence how well drugs or genetic therapies must restore function, affect diagnostic and regulatory strategies, and can change the size and risk of a treatment’s potential market—like a two-engine plane that can’t fly properly on one engine.
regulatory RNAs (regRNAs) medical
"therapeutic ASO drug candidates target regulatory RNAs (regRNAs), which act locally"
Research and collaboration revenue Q2 2026 $1,779 thousand Increased from $1,497 thousand in Q2 2025
Net loss Q2 2026 $33,530 thousand Increased from $12,587 thousand in Q2 2025
Cash and cash equivalents $86,398 thousand Decreased from $109,517 thousand at December 31, 2025
Guidance

The company believes its current cash and cash equivalents, including proceeds from the second private placement closing, will fund planned activities through the end of 2028.

FAQ

How did CAMP (CAMP4 Therapeutics) perform financially in Q2 2026?
CAMP4 reported a Q2 2026 net loss of $33.5 million compared with $12.6 million a year earlier. Research and collaboration revenue was $1.8 million, up from $1.5 million, while operating expenses totaled $15.2 million.

What is CAMP4’s cash position and runway as of June 30, 2026?
CAMP4 had $86.4 million in cash and cash equivalents at June 30, 2026. After quarter-end, it raised an additional $50.1 million, and it believes this will fund planned activities through the end of 2028.

What drove the increase in CAMP (CAMP4) net loss in Q2 2026?
The Q2 2026 net loss of $33.5 million was primarily driven by a $20.9 million non-cash loss from a change in fair value of a derivative tranche liability tied to a September 2025 private placement, in addition to ongoing R&D and G&A expenses.

What clinical milestone is CAMP4 pursuing for CMP-002?
CAMP4 obtained regulatory clearance in Australia and Argentina to initiate a first-in-human Phase 1/2 trial of CMP-002 in SYNGAP-1 related disorder, with trial launch expected in the fourth quarter of 2026, subject to ongoing site activation and regulatory processes.

How much capital has CAMP4 raised from its private placement so far?
CAMP4 received approximately $50 million in gross proceeds in September 2025 and an additional $50.1 million from a second closing completed after Q2 2026, bringing total gross proceeds from the private placement to about $100.1 million.

What are CAMP4’s key operating expense levels in Q2 2026?
In Q2 2026, research and development expenses were $10.8 million, primarily for clinical and preclinical study costs, and general and administrative expenses were $4.3 million, reflecting higher stock-based compensation partially offset by lower facilities costs.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Understanding 8-K Material Events →
0001736730false00017367302026-08-132026-08-130001736730dei:FormerAddressMember2026-08-132026-08-13

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
Date of Report (Date of earliest event reported): August 13, 2026
CAMP4 THERAPEUTICS CORPORATION
(Exact name of registrant as specified in its charter)
Delaware001-4236581-1152476
(State or other jurisdiction
of incorporation)		(Commission
File Number)		(IRS Employer
Identification No.)
100 Talcott Avenue
Suite 201
Watertown, MA
02472
(Address of principal executive offices)(Zip Code)
(Registrant’s telephone number, including area code): (617) 651-8867
One Kendall Square
Building 1400 West, 3rd Floor
Cambridge, Massachusetts 02139
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
¨Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading
Symbol(s)		Name of each exchange
on which registered
Common Stock, par value $0.0001 per shareCAMPThe Nasdaq Global Market
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 x
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 August 13, 2026, CAMP4 Therapeutics Corporation (the “Company”) issued a press release announcing its financial results for the quarter ended June 30, 2026. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
The information in this Item 2.02 and Exhibit 99.1 attached hereto is being furnished and 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, nor shall it be deemed incorporated by reference into any registration statement or other filing under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No.Description
99.1
Press release issued by CAMP4 Therapeutics Corporation on August 13, 2026.
104Cover 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.
CAMP4 THERAPEUTICS CORPORATION
By:/s/ Josh Mandel-Brehm
Name: Josh Mandel-Brehm
Title:   President and Chief Executive Officer
Date: August 13, 2026


CAMP4 Reports Second Quarter 2026 Financial Results and Corporate Highlights

Secured regulatory clearance in two jurisdictions to initiate first-in-human Phase 1/2 clinical trial of CMP-002 in patients with SYNGAP-1 related disorder; trial initiation anticipated in the fourth quarter of this year.

Received $50.1 million from fully subscribed second closing of private placement initially announced September 2025. Cash runway extended through the end of 2028.

WATERTOWN, Mass., August 13, 2026 (GLOBE NEWSWIRE) – CAMP4 Therapeutics Corporation (“CAMP4”) (Nasdaq: CAMP), a clinical-stage biopharmaceutical company developing a pipeline of regulatory RNA-targeting therapeutics designed to upregulate gene expression with the goal of restoring healthy protein levels to treat a broad range of genetic diseases, today announced financial results for the second quarter ended June 30, 2026, and provided recent corporate highlights.

“Having secured regulatory clearance in both Australia and Argentina, we are now focused on initiating our first-in-human Phase 1/2 clinical trial of CMP-002 in patients with SYNGAP1 and are continuing to activate our planned clinical trial in additional jurisdictions,” said Josh Mandel-Brehm, President and Chief Executive Officer of CAMP4. “There are no approved disease-modifying treatments for SYNGAP1, and we are committed to rapidly advancing the development of CMP-002 globally in the hopes of offering SYNGAP1 patients and families a potentially transformative solution that could one day dramatically improve their lives.”

Recent Corporate Highlights:

•Received clearance from Australia’s Therapeutic Goods Administration (TGA) and local Human Research Ethics Committee (HREC), as well as Argentina’s Administración Nacional de Medicamentos, Alimentos y Tecnología Médica (ANMAT), supporting initiation of a Phase 1/2 clinical trial of CMP-002. Clinical trial launch is expected in Q4 2026.
•Submitted regulatory filings in the European Union and United Kingdom to support broader enrollment across multiple sites.
•Secured $50.1 million in gross proceeds in the second closing of the Company’s private placement, pursuant to which the Company previously received approximately $50 million in gross proceeds in September 2025. Cash runway extended though end of 2028.
•Relocated corporate headquarters to Watertown, Mass.

Upcoming Virtual Analyst Event
•The Company will host a Virtual Analyst Day on September 28, 2026. The program will provide an overview of the unmet clinical need in SYNGAP-1 related disorders, an overview of the clinical trial design for the Company’s first-in-human Phase 1/2 clinical trial of CMP-002, and an update on the Company’s early discovery pipeline. To register for the Analyst Day please visit the Investor Relations section of the Company's website.



Upcoming Investor Conferences
•Wells Fargo 21st Annual Healthcare Conference in New York, NY.
•Cantor Global Healthcare Conference in New York, NY.

Second Quarter 2026 Financial Results
Cash and cash equivalents as of June 30, 2026, were $86.4 million, compared to $109.5 million as of December 31, 2025. Subsequent to quarter-end, the Company closed the second tranche of its private placement announced September 2025, raising an additional $50.1 million in gross proceeds. The Company believes that its current cash and cash equivalents will be sufficient to fund its planned activities through the end of 2028.

R&D Expenses: Research and development expenses for the quarter ended June 30, 2026, were $10.8 million, compared to $10.3 million for the quarter ended June 30, 2025. The expenses were primarily driven by clinical and preclinical study costs.

G&A Expenses: General and administrative expenses were $4.3 million for the quarter ended June 30, 2026, compared to $4.2 million for the quarter ended June 30, 2025. The increase was primarily driven by an increase in stock-based compensation expense, partially offset by reduced facilities costs.

Net Loss: Net loss for the quarter ended June 30, 2026, was $33.5 million, compared to $12.6 million for the quarter ended June 30, 2025. The increase was primarily driven by a $20.9 million non-cash loss recognized due to a change in fair value of the derivative tranche liability related to the Company's September 2025 private placement.

About CAMP4 Therapeutics
CAMP4 is developing disease-modifying treatments for a broad range of genetic diseases where amplifying healthy protein may offer therapeutic benefits. Our approach amplifies mRNA by harnessing a fundamental mechanism of how genes are controlled. To amplify mRNA, our therapeutic ASO drug candidates target regulatory RNAs (regRNAs), which act locally on transcription factors and are the master regulators of gene expression. CAMP4’s proprietary RAP Platform™ enables the mapping of regRNAs and generation of therapeutic candidates designed to target the regRNAs associated with genes underlying haploinsufficient and recessive partial loss-of-function disorders, of which there are more than 1,200, in which a modest increase in protein expression may have the potential to be clinically meaningful. For more information, visit camp4tx.com.

Forward-Looking Statements
This press release contains forward-looking statements which involve risks, uncertainties and contingencies, many of which are beyond the control of the Company, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. All statements other than statements of historical facts contained in this press release are forward-looking statements. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “potential” or “continue” or the negative of these terms or other similar expressions,


although not all forward-looking statements contain these words. Forward-looking statements include, but are not limited to, statements concerning the anticipated timeline for initiation of the Company’s planned Phase 1/2 clinical trial of CMP-002 in patients with SYNGAP-1 related disorder; the Company’s expectations with respect to the timing and outcomes of planned and submitted requests for regulatory approvals; the Company’s commitment to rapidly advancing the development of CMP-002 globally; the therapeutic potential of CMP-002, including its ability to offer SYNGAP1 patients and families a potentially transformative solution that could one day dramatically improve their lives, and of the Company’s other product candidates; the sufficiency of the Company’s current cash and cash equivalents to support its planned activities through the end of 2028; the potential of the Company’s RAP Platform technology and early discovery pipeline; and the Company’s strategy, goals, business plans and focus. The forward-looking statements in this press release speak only as of the date of this press release and are subject to a number of known and unknown risks, uncertainties and assumptions that could cause the Company’s actual results to differ materially from those anticipated in the forward-looking statements, including, but not limited to: the Company’s limited operating history, incurrence of substantial losses since inception and anticipated incurrence of substantial and increasing losses for the foreseeable future; the Company’s need for substantial additional financing to achieve the its goals; the uncertainty of clinical development and risks related to additional costs or delays in the development and commercialization of the Company’s product candidates; delays or difficulties in the enrollment and dosing of patients in clinical trials; the impact of any significant adverse events or undesirable side effects caused by the Company’s product candidates; potential competition, including from large and specialty pharmaceutical and biotechnology companies; the Company’s ability to realize the benefits of the Company’s current or future collaborations or licensing arrangements and ability to successfully consummate future partnerships; the Company’s ability to manage the Company’s growth and expansion of the Company’s operations; risks related to the manufacturing of the Company’s product candidates; the Company’s ability to obtain and maintain sufficient intellectual property protection for the its product candidates; the Company’s reliance on third parties to conduct the Company’s preclinical studies and clinical trials; the Company’s compliance with the Company’s obligations under the licenses granted to the Company by others for the rights to develop and commercialize the Company’s product candidates; risks related to the operations of the Company’s suppliers; and other risks and uncertainties described in the section “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 and Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, as well as other information the Company files with the Securities and Exchange Commission. The forward-looking statements in this press release are inherently uncertain and are not guarantees of future events. Because forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified and some of which are beyond the Company’s control, you should not unduly rely on these forward-looking statements. The events and circumstances reflected in the forward-looking statements may not be achieved or occur and actual future results, levels of activity, performance and events and circumstances could differ materially from those projected in the forward-looking statements. Moreover, the Company operates in an evolving environment. New risks and uncertainties may emerge from time to time, and management cannot predict all risks and uncertainties. Investors, potential investors, and others should give careful consideration to these risks and uncertainties. Except as required by applicable law, the Company does not undertake to publicly update or revise any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise.



Contacts

Investor Relations:
Sara Michelmore
Milestone Advisors
sara@milestone-advisorsllc.com

Media:
Sofia Bermudez
LifeSci Communications
sbermudez@lifescicomms.com









CAMP4 Therapeutics Corporation
Unaudited Consolidated Statements of Operations
(In thousands, except for share and per share data)


Three Months Ended
June 30,
Six Months Ended
June 30,
2026
2025
2026
2025
Revenue:
Research and collaboration revenue
$
1,779 
$
1,497 
$
3,073 
$
2,355 
Operating Expenses:
Research and development
10,817 
10,343 
20,977 
20,489 
General and administrative
4,342 
4,182 
8,547 
7,994 
Total operating expenses
15,159 
14,525 
29,524 
28,483 
Loss from operations
(13,380)
(13,028)
(26,451)
(26,128)
Other (expense) income, net:
Interest income
807 
453 
1,717 
1,041 
Change in fair value of derivative tranche liability
(20,930)
— 
(27,118)
— 
Other (expense) income
(27)
(12)
(9)
67 
Total other (expense) income, net
(20,150)
441 
(25,410)
1,108 
Net loss
$
(33,530)
$
(12,587)
$
(51,861)
$
(25,020)
Net loss per share attributable to common stockholders, basic and diluted
$
(0.58)
$
(0.62)
$
(0.90)
$
(1.24)
Weighted-average shares of common stock outstanding, basic and diluted
57,929,662
20,159,666
57,926,685
20,155,161

Unaudited Condensed Balance Sheet Data
June 30,
2026
December 31, 2025
(in thousands)
Cash and cash equivalents
$
86,398

$
109,517
Working capital(1)

70,885


98,581
Total assets

93,428


117,808
Total liabilities

94,121


70,104
Accumulated deficit

(344,017)

(292,156)
Total stockholders' (deficit) equity

(693)


47,704
(1) Working capital is defined as total current assets less total current liabilities. See our unaudited condensed consolidated financial statements and the related notes thereto included in our Quarterly Report on Form 10-Q for the three and six months ended June 30, 2026 for further details regarding our current assets and current liabilities.


Source: View Original Filing on SEC EDGAR

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