CAMP4 Therapeutics Corporation reported for the quarter ended June 30, 2026 that it remains a clinical-stage company focused on RNA-targeting therapeutics, with lead candidate CMP-002 for SYNGAP1-related disorder. Research and collaboration revenue was $1.8 million for the quarter and $3.1 million year-to-date, largely from its collaboration with GSK.
Operating expenses stayed high as development advanced, with R&D of $20.98 million and G&A of $8.55 million for the six-month period. A large non-cash $27.12 million loss from remeasurement of a derivative tranche liability tied to a private placement drove the six‑month net loss to $51.86 million and turned stockholders’ equity into a small deficit.
Cash and cash equivalents were $86.40 million at June 30, 2026, with total cash, cash equivalents and restricted cash of $88.02 million and negative operating cash flow of $23.67 million for the first half. Management states that existing cash plus $46.9 million of proceeds received in August 2026 from the second closing of the private placement are expected to fund operations through the end of 2028. Subsequent to quarter-end, regulatory clearances in Australia and Argentina allow initiation of a Phase 1/2 trial of CMP‑002.
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.
CAMP4 Therapeutics Corporation has registered for resale up to 10,795,804 shares of common stock and 21,925,368 shares issuable upon exercise of 2026 pre-funded warrants, all held by existing investors from a prior private placement. The company is not selling any shares and will not receive proceeds from resale, but may receive cash only if the pre-funded warrants are exercised.
CAMP4 is a clinical-stage biopharmaceutical company developing RNA-targeting therapeutics, led by CMP-002 for SYNGAP1-related disorder, with Phase 1/2 clinical trials cleared in Australia. The second closing of its private placement on August 3, 2026 raised gross proceeds of $50.1 million via common stock and 2026 pre-funded warrants. The registered shares represent about 38.6% of outstanding common stock as of August 3, 2026, which the company notes could pressure the share price if sold in volume. Any cash proceeds from warrant exercises are intended to fund CMP-002 development and general corporate purposes.
Trails Edge Capital Partners, LP, Trails Edge Biotechnology Master Fund, LP and Ortav Yehudai report beneficial ownership of Camp4 Therapeutics Corp common stock. As of August 3, 2026, they may be deemed to beneficially own 3,790,636 shares of Camp4 common stock, representing 6% of the outstanding shares. All reported shares are held directly by Trails Edge Biotechnology, with Trails Edge Capital as investment manager and Mr. Yehudai exercising voting and investment discretion. Camp4 had 62,753,200 shares outstanding as of the same date, as referenced from its Form S-3.
CAMP4 Therapeutics Corporation is registering for resale up to 10,795,804 shares of common stock and 21,925,368 shares issuable upon exercise of 2026 pre-funded warrants held by existing investors. This is a secondary offering by selling stockholders; CAMP4 is not selling new shares.
The resale shares, assuming full warrant exercise, represented about 38.6% of common stock outstanding as of August 3, 2026, creating potential share overhang. CAMP4 will receive cash only if the 2026 pre-funded warrants are exercised, at an exercise price of $0.0001 per share, and intends to use any such proceeds to fund development of its lead ASO candidate CMP-002 for SYNGAP1-related disorder and for working capital.
The registration fulfills rights granted in a private placement completed in two closings that raised $46.7 million net initially and $50.1 million gross at the second closing, with shares and pre-funded warrants sold at prices around $1.53–$1.65 per share.
CAMP4 Therapeutics Corporation’s major venture backer group led by 5AM funds updates its reported holdings after a second closing of a financing. As of that closing, 5AM-affiliated entities collectively report beneficial ownership of up to 6,313,434 shares of common stock for Andrew J. Schwab, or about 9.99%, and 6,304,434 shares for Dr. Kush Parmar, or about 9.98%, based on 62,753,200 shares outstanding.
At the second closing on August 3, 2026, the company issued 10,756,498 shares at $1.53 per share and 21,925,368 Pre-Funded Warrants at $1.5299 each, plus 39,306 additional shares to management at $1.65 per share. Ventures VII purchased 3,179,558 Pre-Funded Warrants for $4.9 million, funded by its partners. These Pre-Funded Warrants are immediately exercisable at $0.0001 per share, do not expire, and are subject to a 9.99% Beneficial Ownership Blocker limiting post-exercise ownership.
Camp4 Therapeutics Corp reported that major shareholder 5AM Ventures VII, L.P. purchased 3,179,558 pre-funded warrants at $1.5299 per warrant. Each warrant is exercisable immediately for one share of common stock at $0.0001 per share, has no expiration, and is subject to a 9.99% beneficial ownership cap. The warrants are held indirectly through 5AM Ventures VII, with related entities and individuals disclaiming beneficial ownership beyond their pecuniary interests.
Camp4 Therapeutics Corp director Andrew J. Schwab reported that affiliated fund 5AM Ventures VII, L.P. received 3,179,558 Pre-Funded Warrants to buy an equal number of common shares at an exercise price of 0.0001 per share. The warrants are immediately exercisable, have no expiration, and include a 9.99% beneficial ownership cap for Ventures VII and its Attribution Parties.
Camp4 Therapeutics Corp director Richard A. Young purchased 16,378 shares of common stock on August 3, 2026 at $1.65 per share. The shares were acquired in the second closing of a private placement under a Securities Purchase Agreement, increasing his direct holdings to 186,388 shares.