Climb Bio (Nasdaq: CLYM) details pipeline progress and funding into 2028
Rhea-AI Filing Summary
Climb Bio, Inc. reported results for the quarter ended June 30, 2026 and highlighted progress across its budoprutug and CLYM116 programs. For CLYM116, the company plans an R&D Spotlight on September 3, 2026 to review initial Phase 1 PK/PD data in healthy volunteers and development plans in IgA nephropathy, and anticipates initiating dosing in a Phase 2 IgA nephropathy trial in the third quarter of 2026. A partner-led Phase 1/2 study in IgA nephropathy in China is also ongoing, with Phase 2 dosing expected to begin in the third quarter of 2026.
For budoprutug, enrollment continues in the global PrisMN Phase 2 trial in primary membranous nephropathy, with initial pharmacodynamic data from the low-dose cohort expected in the fourth quarter of 2026. Additional data in immune thrombocytopenia, systemic lupus erythematosus and from a subcutaneous formulation study are expected through late 2026 and 2027. The company completed a private placement on April 29, 2026 generating approximately $110 million in gross proceeds, supporting continued clinical advancement and extending its cash runway into the second half of 2028. Cash, cash equivalents and marketable securities totaled $239.2 million as of June 30, 2026. For the quarter, R&D expenses were $9.7 million, G&A expenses were $5.6 million, and other income, net was $1.9 million; the company reported a net loss for the period.
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8-K Event Classification
Key Figures
Key Terms
IgA nephropathy medical
primary membranous nephropathy medical
immune thrombocytopenia medical
systemic lupus erythematosus medical
Orphan Drug Designation regulatory
A Proliferation-Inducing Ligand medical
Earnings Snapshot
Based on its current operating plan, the company expects its cash balance to fund operations into the second half of 2028.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What were Climb Bio (CLYM)'s cash balance and runway as of June 30, 2026?
How is Climb Bio (CLYM) advancing its CLYM116 program?
What are the latest developments in Climb Bio (CLYM)'s budoprutug trials?
How did Climb Bio (CLYM)'s Q2 2026 operating expenses compare with Q2 2025?
What 2026 financing did Climb Bio (CLYM) complete and how does it support operations?
Which diseases are targeted by Climb Bio (CLYM)'s lead candidates budoprutug and CLYM116?
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 August 6, 2026, Climb Bio, Inc. (the “Company”) issued a press release announcing its financial results for the quarter ended June 30, 2026. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated by reference herein.
The information in this Item 2.02, including Exhibit 99.1 attached hereto, is being furnished and shall not be deemed “filed” for the 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 filing under the Exchange Act or the Securities Act of 1933, as amended, whether filed before or after the date hereof and regardless of any general incorporation language in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit Number |
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Description |
99.1 |
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Press release of Climb Bio, Inc., dated August 6, 2026 |
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Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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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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Climb Bio, Inc. |
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August 6, 2026 |
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/s/ Aoife Brennan |
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Aoife Brennan, M.B., Ch.B. |
Exhibit 99.1
Climb Bio Reports Second Quarter 2026 Financial Results and Provides Business Updates
CLYM116 Phase 1 data in healthy volunteers to be presented at R&D Spotlight Event on September 3, 2026
Anticipate CLYM116 Phase 2 trial in IgA nephropathy to initiate dosing in Q3 2026
Budoprutug clinical programs continue to advance, with data expected from pMN, ITP, and SLE studies in Q4 2026
Financing extends cash runway into the second half of 2028
WELLESLEY HILLS, Mass., August 6, 2026 (GLOBE NEWSWIRE) -- Climb Bio, Inc. (Nasdaq: CLYM), a clinical stage biotechnology company developing therapeutics for patients with immune-mediated diseases, today reported financial results for the second quarter ended June 30, 2026, and provided business updates.
“2026 is proving to be a defining year for Climb Bio, and I am thrilled by the team’s execution ,” said Aoife Brennan, M.B., Ch.B., President and Chief Executive Officer of Climb Bio. “We achieved important milestones for both budoprutug and CLYM116 over the past few months, and that momentum continues into the second half of the year with further data readouts across all four of our ongoing trials and the initiation of a Phase 2 trial of CLYM116 in IgAN patients. Currently at the forefront, I look forward to sharing initial Phase 1 data from CLYM116 in our September R&D Spotlight, where we will further highlight its potential as a best-in-class anti-APRIL antibody and provide additional details on our development strategy. With our continued progress across our pipeline, and supported by our strengthened balance sheet, we are well positioned to continue to execute on our strategic priorities and rapidly advance both programs toward pivotal development, setting the stage for what we believe will be an exciting 2027 for Climb.”
CLYM116 Program Updates and Anticipated Milestones
Budoprutug Program Updates and Anticipated Milestones
Corporate Updates
Second Quarter Financial Results and Guidance
About Climb Bio, Inc.
Climb Bio, Inc. is a clinical-stage biotechnology company with a mission to deliver high impact, disease-modifying medicines for individuals living with immune-mediated diseases, including those affecting kidney health. The Company’s pipeline includes, budoprutug, an anti-CD19 monoclonal antibody that has potential to treat a broad range of B-cell mediated diseases, and CLYM116, an anti-APRIL monoclonal antibody being developed for IgA nephropathy. For more information, please visit climbbio.com.
About Budoprutug
Budoprutug is a clinical-stage, anti-CD19 monoclonal antibody with the potential to address a broad range of B-cell mediated, immune-driven diseases. Designed with enhanced effector function and low picomolar affinity, budoprutug targets and depletes CD19-expressing B cells, including plasmablasts and certain plasma cells, key sources of pathogenic autoantibodies. Early clinical data suggest budoprutug may offer durable B-cell depletion, rapid reductions in autoantibodies, and clinical remission in primary membranous nephropathy (pMN). Budoprutug is being evaluated in clinical trials for pMN, immune thrombocytopenia (ITP), and systemic lupus erythematosus (SLE). A subcutaneous formulation is also in development to enable broader patient access. Budoprutug has been granted Orphan Drug Designation and Fast Track Designation by the FDA for the treatment of pMN.
About CLYM116
CLYM116 is a clinical-stage monoclonal antibody targeting APRIL (A Proliferation-Inducing Ligand), a key driver of pathogenic B-cell activity in autoimmune diseases. CLYM116 employs a novel pH-dependent bind-and-release ‘sweeper’ mechanism to potently block APRIL signaling, promote lysosomal degradation of APRIL, and recycle the antibody to extend its half-life. This differentiated design offers the potential for rapid, deep, and durable inhibition of APRIL with a favorable safety profile and less frequent dosing. CLYM116 is being advanced for the treatment of IgA nephropathy (IgAN) and may also have broader utility across other B-cell mediated diseases where APRIL plays a critical role.
Forward-Looking Statements
This press release contains “forward-looking statements,” including without limitation statements regarding: future expectations, plans and prospects for Climb Bio; expectations regarding the therapeutic benefits, clinical potential and clinical development of CLYM116; the anticipated timelines for announcing data from Climb Bio’s ongoing and planned clinical trials; the anticipated timelines for enrolling patients in planned clinical trials; expectations regarding cash runway; Climb Bio’s expectations regarding the anticipated benefits of Climb Bio’s technology transfer and exclusive license agreement with Mabworks; and other statements containing the words “anticipate,” “believe,” “continue,” “could,” “expect,” “may,” “plan,” “potential,” should,” “suggest,” “target,” “will,” and similar expressions. Forward-looking statements are based on management’s current expectations of future events and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in, or implied by, such forward-looking statements. Climb Bio may not actually achieve the plans, intentions or expectations disclosed in these forward-looking statements, and you should not place undue reliance on these forward-looking statements. These risks and uncertainties include, but are not limited to, important risks and uncertainties associated with: the ability of Climb Bio to timely and successfully achieve or recognize the anticipated benefits of its technology transfer and exclusive license agreement with Mabworks; Climb Bio’s ability to advance budoprutug and CLYM116 on the timelines expected or at all and to obtain and maintain necessary approvals from the U.S. Food and Drug Administration and other regulatory authorities; obtaining and maintaining the necessary approvals from investigational review boards at clinical trial sites and independent data safety monitoring boards; replicating in clinical trials positive results found in early-stage clinical trials or nonclinical studies; competing successfully with other companies that are seeking to develop treatments for primary membranous nephropathy, immune thrombocytopenia, systemic lupus erythematosus, IgA nephropathy and other immune-mediated diseases; maintaining or protecting intellectual property rights related to budoprutug, CLYM116 and/or its other product candidates; managing expenses; changes in applicable laws or regulation; the possibility that Climb Bio may be adversely affected by other economic, business and/or competitive factors; and raising the substantial additional capital needed, on the timeline necessary, to continue development of budoprutug, CLYM116 and any other product candidates Climb Bio may develop. For a discussion of other risks and uncertainties, and other important factors, any of which could cause Climb Bio’s actual results to differ materially from those contained in the forward-looking statements, see the “Risk Factors” section, as well as discussions of potential risks, uncertainties and other important factors, in Climb Bio’s most recent filings with the U.S. Securities and Exchange Commission. In addition, the forward-looking statements included in this press release represent Climb Bio’s views as of the date hereof and should not be relied upon as representing Climb Bio’s views as of any date subsequent to the date hereof. Climb Bio anticipates that subsequent events and developments will cause Climb Bio’s views to change. However, while Climb Bio may elect to update these forward-looking statements at some point in the future, Climb Bio specifically disclaims any obligation to do so, except as required by law.
Investors and Media
Carlo Tanzi, Ph.D.
Kendall Investor Relations
ctanzi@kendallir.com
Climb Bio, Inc.
Condensed Consolidated Balance Sheets
(In thousands)
(unaudited)
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June 30, 2026 |
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December 31, 2025 |
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Assets |
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Cash, cash equivalents and marketable securities |
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$ |
239,221 |
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$ |
160,652 |
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Other assets |
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7,073 |
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7,092 |
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Total assets |
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$ |
246,294 |
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$ |
167,744 |
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Liabilities and stockholders’ equity |
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Liabilities |
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$ |
6,747 |
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$ |
7,269 |
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Total stockholders’ equity |
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239,547 |
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160,475 |
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Total liabilities and stockholders’ equity |
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$ |
246,294 |
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$ |
167,744 |
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Condensed Consolidated Statements of Operations
(In thousands, except per share amounts)
(unaudited)
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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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Operating expenses: |
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Research and development |
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$ |
9,714 |
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$ |
6,575 |
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$ |
19,087 |
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$ |
23,902 |
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General and administrative |
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5,645 |
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4,102 |
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11,483 |
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9,793 |
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Total operating expenses |
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15,359 |
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10,677 |
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30,570 |
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33,695 |
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Loss from operations |
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(15,359 |
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(10,677 |
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(30,570 |
) |
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(33,695 |
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Other income, net |
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1,861 |
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2,011 |
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3,350 |
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4,248 |
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Net loss |
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$ |
(13,498 |
) |
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$ |
(8,666 |
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$ |
(27,220 |
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$ |
(29,447 |
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Net loss per share, basic and diluted |
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$ |
(0.18 |
) |
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$ |
(0.13 |
) |
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$ |
(0.38 |
) |
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$ |
(0.44 |
) |