Positive PIPE-791 chronic pain Phase 1b results for Contineum (NASDAQ: CTNM)
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Contineum Therapeutics reported positive topline data from an exploratory Phase 1b trial of PIPE-791, an oral, once-daily 10 mg LPA1 receptor antagonist, in chronic osteoarthritis pain (COAP) and chronic low back pain (CLBP). The randomized, double-blind, placebo-controlled, 4‑week crossover study enrolled 43 patients, split between COAP and CLBP.
The trial met its primary objective of assessing safety and tolerability, with no serious adverse events reported and most treatment-emergent events, such as headache and fatigue, described as mild to moderate. Vital signs, including blood pressure and orthostatic measures, showed no clinically meaningful changes.
Exploratory efficacy measures using the 11‑point Pain‑Intensity Numerical Rating Scale showed that patients receiving PIPE-791 generally had greater numerical improvements in average and worst daily pain than those on placebo, particularly in the COAP group. Additional exploratory endpoints, including the proportion of patients achieving at least a 30% pain reduction and a modified knee osteoarthritis function scale, were described as supporting the positive pain findings. Management stated that these results support further evaluation of PIPE-791 for chronic pain.
Positive
- None.
Negative
- None.
Insights
Early Phase 1b data for PIPE-791 show clean safety and encouraging pain signals, mainly in osteoarthritis.
Contineum Therapeutics highlighted that PIPE-791 met its primary safety and tolerability objective in a 43‑patient chronic pain trial, with no serious adverse events and mostly mild to moderate treatment‑emergent events. Stable blood pressure and orthostatic findings reduce immediate safety concerns around this once‑daily 10 mg regimen.
On exploratory efficacy, patients on PIPE-791 generally showed numerically larger reductions in average and worst daily pain versus placebo on the 11‑point PI‑NRS, especially in chronic osteoarthritis pain. COAP responder rates, defined as at least a 30% pain reduction, and improvements on a modified KOOS function scale were described as supportive.
The company remains early in development, and the trial was not powered for definitive efficacy, so future outcomes will depend on larger, confirmatory studies in chronic pain and on how these data inform ongoing work in idiopathic pulmonary fibrosis. Subsequent clinical programs will clarify durability of effect, dose selection, and differentiation versus existing non‑opioid options.
8-K Event Classification
3 items: 7.01, 8.01, 9.01
3 items
Item 7.01
Regulation FD Disclosure
Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 8.01
Other Events
Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Trial enrollment: 43 patients
Osteoarthritis cohort size: 23 patients
Low back pain cohort size: 20 patients
+5 more
8 metrics
Trial enrollment
43 patients
Phase 1b chronic pain trial; 23 COAP and 20 CLBP
Osteoarthritis cohort size
23 patients
Chronic osteoarthritis pain (COAP) subgroup in Phase 1b
Low back pain cohort size
20 patients
Chronic low back pain (CLBP) subgroup in Phase 1b
Dose level
10 mg once-daily
Oral PIPE-791 regimen used in Phase 1b trial
COAP TP1 pain change PIPE-791
-1.60 PI-NRS units
Mean change in weekly average of average daily pain, Treatment Period 1
COAP TP1 pain change placebo
-1.27 PI-NRS units
Mean change in weekly average of average daily pain, Treatment Period 1
COAP TP2 pain change PIPE-791
-1.42 PI-NRS units
Mean change in weekly average of average daily pain, Treatment Period 2
COAP TP2 pain change placebo
-0.74 PI-NRS units
Mean change in weekly average of average daily pain, Treatment Period 2
Key Terms
Phase 1b, double-blind, treatment-emergent adverse events ("TEAEs"), Pain-Intensity Numerical Rating Scale ("PI-NRS"), +2 more
6 terms
Phase 1b medical
"positive topline data from its Exploratory PIPE-791 Phase 1b Trial in Chronic Pain"
"Phase 1b" is an early stage in testing a new medical treatment or vaccine, where it is given to a small group of people to evaluate its safety and determine the right dose. For investors, this phase signals progress in development, indicating the treatment is advancing through initial safety checks, which can influence expectations for future success and potential market impact.
double-blind medical
"This Phase 1b, randomized, double-blind, placebo-controlled, 4-week, crossover trial enrolled 43 patients"
A double-blind process means that neither the people conducting an activity nor the people involved know certain key details, such as who is receiving a treatment or a placebo. This approach helps prevent bias from influencing the results, making the outcome more trustworthy. For investors, it ensures that decisions or judgments are based on unbiased information rather than preconceived opinions or expectations.
treatment-emergent adverse events ("TEAEs") medical
"Most treatment-emergent adverse events (“TEAEs”) were mild to moderate, with no serious AEs reported"
Pain-Intensity Numerical Rating Scale ("PI-NRS") medical
"Pain intensity was assessed using the 11-point Pain-Intensity Numerical Rating Scale (“PI-NRS”)."
lysophosphatidic acid 1 (LPA1) receptor medical
"PIPE-791, a potentially best-in-class selective antagonist of the lysophosphatidic acid 1 (LPA1) receptor"
Modified Knee Injury and Osteoarthritis Outcome Scale medical
"exploratory efficacy endpoints included an assessment of clinical responders ... and the Modified Knee Injury and Osteoarthritis Outcome Scale"
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): April 30, 2026
______________________________________________________________________
(Exact name of registrant as specified in its charter)
______________________________________________________________________
(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||
| (Address of principal executive offices) | (Zip Code) | ||||
(858 ) 333-5280
(Registrant’s telephone number, including area code)
N/A
(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:
| 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 class | Trading Symbol(s) | Name of each exchange on which registered | ||||||||||||
The Nasdaq Global Market LLC ( | ||||||||||||||
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 7.01 Regulation FD Disclosure.
On April 30, 2026, Contineum Therapeutics, Inc. (the “Company”) issued a press release titled “Contineum Therapeutics Reports Positive Topline Data from its Exploratory PIPE-791 Phase 1b Trial in Chronic Pain.” A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
The Company from time to time presents and/or distributes to the investment community slide presentations to provide updates and summaries of its business. A copy of its “PIPE-791 Phase 1b Chronic Pain Trial Topline Data Supplemental Information” slide presentation is being furnished herewith as Exhibit 99.2 to this Current Report on Form 8-K.
The information under this Item 7.01, including Exhibit 99.1 and Exhibit 99.2 hereto, is being furnished herewith 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 such information be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.
Item 8.01 Other Events.
On April 30, 2026, the Company announced topline data from its Exploratory PIPE-791 Phase 1b Trial in Chronic Pain.
This Phase 1b, randomized, double-blind, placebo-controlled, 4-week, crossover trial enrolled 43 patients (23 chronic osteoarthritic pain (“COAP”) patients and 20 chronic low back pain (“CLBP”) patients). More information on this trial can be found at https://clinicaltrials.gov (NCT06810245).
Safety and Tolerability
The trial met its primary objective of assessing safety and tolerability, demonstrating an adverse event (“AE”) profile generally consistent with previous PIPE-791 clinical trials. Most treatment-emergent adverse events (“TEAEs”) were mild to moderate, with no serious AEs reported. The most common TEAEs were headache (n=3) and fatigue (n=2). No clinically meaningful changes in mean systolic or diastolic blood pressure or clinically-relevant orthostatic events were observed.
Exploratory Efficacy Results
Pain intensity was assessed using the 11-point Pain-Intensity Numerical Rating Scale (“PI-NRS”). The PI-NRS was analyzed as the change from baseline in weekly average of average daily pain. Patients treated with PIPE-791 generally demonstrated improvements from baseline in pain that were numerically greater than the placebo arm. Similar trends were observed when PI-NRS was evaluated as the weekly average of the worst level of daily pain.
Weekly Average of Average Daily PI-NRS Scores and Changes to End of Treatment
COAP | CLBP | |||||||||||||
Treatment Period 1 | PIPE-791 (N=11) | Placebo (N=11) | PIPE-791 (N=10) | Placebo (N=10) | ||||||||||
Baseline Weekly Average PI-NRS* | 5.58 (1.21) | 6.23 (1.43) | 5.60 (1.27) | 5.57 (1.50) | ||||||||||
Change from Baseline (95% CI)† | -1.60 (-2.49, -0.72) | -1.27 (-2.15, -0.39) | -1.33 (-1.83, -0.84) | -0.55 (-1.33, 0.22) | ||||||||||
Treatment Period 2 | PIPE-791 (N=11) | Placebo (N=10) | PIPE-791 (N=9) | Placebo (N=10) | ||||||||||
Baseline Weekly Average PI-NRS* | 4.96 (2.21) | 3.56 (1.45) | 4.72 (1.89) | 4.75 (1.81) | ||||||||||
Change from Baseline (95% CI)† | -1.42 (-2.28, -0.56) | -0.74 (-1.83, 0.35) | 0.13 (-0.68, 0.94) | -0.55 (-2.38, 1.29) | ||||||||||
* Reported as Mean (standard deviation - SD) of the daily average PI-NRS scores for the 7 days preceding randomization (Treatment Period 1) or Week 5 (Treatment Period 2), respectively. † Reported as the Mean change from Baseline in the weekly average of the daily average PI-NRS scores, 95% Confidence Interval (CI), to the end of Treatment Period 1 (Week 4) or the end of Treatment Period 2 (Week 8), respectively. | ||||||||||||||
In addition to the average measures of PI-NRS, exploratory efficacy endpoints included an assessment of clinical responders (30% ≥ reduction from baseline in PI-NRS) and the Modified Knee Injury and Osteoarthritis Outcome Scale. Results from these exploratory measures further supported the positive PI-NRS findings.
Forward-Looking Statements
This Current Report on Form 8-K and certain materials furnished or filed herewith contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1955. All statements other than statements of historical facts contained in this Current Report on Form 8-K and certain materials furnished or filed herewith, including without limitation, implied or express statements regarding the pharmacological properties, safety, tolerability, clinical response and efficacy, and therapeutic potential of PIPE-791 for the treatment of chronic pain in addition to the treatment of idiopathic pulmonary fibrosis or any other conditions; the dosing requirements of PIPE-791 based on the Company’s Phase 1b clinical trial; the potential of the data from the Company’s Phase 1b clinical trial to predict future clinical outcomes or results; statements regarding the Company’s clinical development plans, costs, timing and likelihood of success; potential indications for the Company’s drug candidates and the size of the market opportunities; as well as plans and objectives of management for future operations, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other important factors that are in some cases beyond the Company’s control and may cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. The words “anticipate,” “believe,” contemplate,” “continue” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “potential” “predict,” “project,” “should,” “target,” “will” or “would” or the negative of these terms or other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. The forward-looking statements in this presentation are only predictions and represent the Company’s views as of the date of this Current Report on Form 8-K. Although the Company believes the expectations reflected in such forward-looking statements are reasonable, the Company cannot guarantee that the future results, advancements, discoveries, levels of activity, performance or events and circumstances reflected in the forward-looking statements will be achieved or occur. These risks and uncertainties, include, but are not limited to, the following: the Company is heavily dependent on the success of PIPE-791 and PIPE-307, both of which are in the early stages of clinical development, and neither of these drug candidates may progress through clinical development or receive regulatory approval; the results of earlier preclinical studies and clinical trials, including those conducted by third parties, may not be predictive of future results and unexpected adverse side effects or inadequate efficacy of the Company’s drug candidates may limit their development, regulatory approval and/or commercialization; the timing and outcome of research, development and regulatory review is uncertain; the U.S. Food and Drug Administration or comparable foreign regulatory authorities may disagree as to the design or implementation of the Company’s proposed clinical trials; clinical trials and preclinical studies may not proceed at the time or in the manner expected, or at all; the Company may use its capital resources sooner than expected and they may be insufficient to allow the Company to achieve its anticipated milestones; the potential for the Company’s programs and prospects to be negatively impacted by developments relating to the Company’s competitors, including the results of studies or regulatory determinations relating to the Company’s competitors; risks associated with reliance on third parties to successfully conduct clinical trials; the Company’s reliance, pursuant to a global license and development agreement, upon Janssen Pharmaceutica NV, a Johnson & Johnson company, to develop, in its sole discretion, PIPE-307 for relapsing-remitting multiple sclerosis, major depressive disorder or for any other indication; the restrictions contained in the Company’s global license and development agreement with Janssen Pharmaceutica NV limiting the Company’s access to, and restricting the Company from disclosing, certain information regarding the development of PIPE-307; the Company has incurred significant operating expenses since inception and it expects that its operating expenses will continue to significantly increase for the foreseeable future; the Company’s ability to operate in a competitive industry and compete successfully against competitors that have greater resources than the Company does; the Company may be unable to obtain, maintain and enforce intellectual property protection for its technology and drug candidates; and unstable market and economic conditions and military conflict may adversely affect the Company’s business and financial condition and the broader economy and biotechnology industry. Additional risks and uncertainties that could affect the Company’s business, operations and results are included under the captions, “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Company’s periodic filings and in other filings that the Company makes with the Securities and Exchange Commission (“SEC”) from time to time, which are available on the Company’s website at www.contineum-tx.com under the Investor section and on the SEC’s website at www.sec.gov. Accordingly, readers should not rely upon forward-looking statements as predictions of future events. Except as required by applicable law, the Company undertakes no obligation to update publicly or revise any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit No. | Description | |||||||
| 99.1 | Press release dated April 30, 2026. | |||||||
| 99.2 | PIPE-791 Phase 1b Chronic Pain Trial Topline Data Supplemental Information slide presentation of Contineum Therapeutics, Inc. | |||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: April 30, 2026
| Contineum Therapeutics, Inc. | ||||||||
| By: | /s/ Peter Slover | |||||||
| Peter Slover | ||||||||
Chief Financial Officer Principal Financial Officer and Principal Accounting Officer | ||||||||
Exhibit 99.1
CONTINEUM THERAPEUTICS REPORTS POSITIVE TOPLINE DATA FROM ITS EXPLORATORY PIPE-791 PHASE 1B TRIAL IN CHRONIC PAIN
–The trial achieved its primary endpoint demonstrating favorable safety and tolerability
–Encouraging trends observed across multiple exploratory efficacy endpoints including improvements in measures of pain and other functional patient-reported outcomes
–Results support further evaluation of PIPE-791 for the potential treatment of chronic pain
SAN DIEGO – April 30, 2026 – Contineum Therapeutics, Inc. (NASDAQ: CTNM) (Contineum or the Company), a clinical-stage biopharmaceutical company pioneering differentiated therapies for the treatment of neuroscience, inflammation and immunology (NI&I) indications, today reported positive topline data from its exploratory Phase 1b trial of PIPE-791, a potentially best-in-class selective antagonist of the lysophosphatidic acid 1 (LPA1) receptor, for the non-opioid treatment of chronic osteoarthritis pain (COAP) or chronic low back pain (CLBP).
“These results demonstrate that PIPE-791, administered as a once-daily 10mg oral dose, was well tolerated in the largest patient population and longest treatment duration studied to date, reinforcing our confidence in its profile and its potential relevance to the PROPEL-IPF trial,” said Timothy Watkins, M.D., M.Sc., Chief Medical Officer and Head of Development, Contineum Therapeutics. “We are pleased with these results, which showed consistent trends toward improvement across multiple exploratory efficacy endpoints evaluating chronic pain that, in general, numerically outperformed placebo. These endpoints included measures of average daily pain, worst daily pain and the proportion of patients demonstrating a 30% or greater reduction in pain from baseline. We believe these findings, particularly the COAP data, provide evidence of preliminary efficacy that support further evaluation of PIPE-791 for the potential treatment of chronic pain, and we are contemplating next steps for further clinical development.”
Clinical Trial Overview
The randomized, double-blind, placebo-controlled, 4-week, crossover trial enrolled 43 patients (23 COAP and 20 CLBP). The trial design incorporated a washout period for patients prior to the first 4-week treatment period (TP1), after which patients crossed over immediately into a second 4-week treatment period (TP2) without an intervening PIPE-791 washout. PIPE-791 was administered orally
at 10mg once-daily. More information on this trial can be found at https://clinicaltrials.gov (NCT06810245).
Safety and Tolerability
The trial met its primary objective of assessing safety and tolerability, demonstrating an adverse event (AE) profile generally consistent with previous PIPE-791 clinical trials. Most treatment-emergent adverse events (TEAEs) were mild to moderate, with no serious AEs reported. The most common TEAEs were headache (n=3) and fatigue (n=2). No clinically meaningful changes in mean systolic or diastolic blood pressure or clinically-relevant orthostatic events were observed.
Exploratory Efficacy Results
Pain intensity was assessed using the 11-point Pain-Intensity Numerical Rating Scale (PI-NRS). The PI-NRS was analyzed as the change from baseline in weekly average of average daily pain. Patients treated with PIPE-791 generally demonstrated improvements from baseline in pain that were numerically greater than the placebo arm. Similar trends were observed when PI-NRS was evaluated as the weekly average of the worst level of daily pain.
Weekly Average of Average Daily PI-NRS Scores and Changes to End of Treatment
| COAP | CLBP | |||||||||||||
| Treatment Period 1 | PIPE-791 (N=11) | Placebo (N=11) | PIPE-791 (N=10) | Placebo (N=10) | ||||||||||
| Baseline Weekly Average PI-NRS* | 5.58 (1.21) | 6.23 (1.43) | 5.60 (1.27) | 5.57 (1.50) | ||||||||||
Change from Baseline (95% CI)† | -1.60 (-2.49, -0.72) | -1.27 (-2.15, -0.39) | -1.33 (-1.83, -0.84) | -0.55 (-1.33, 0.22) | ||||||||||
| Treatment Period 2 | PIPE-791 (N=11) | Placebo (N=10) | PIPE-791 (N=9) | Placebo (N=10) | ||||||||||
| Baseline Weekly Average PI-NRS* | 4.96 (2.21) | 3.56 (1.45) | 4.72 (1.89) | 4.75 (1.81) | ||||||||||
Change from Baseline (95% CI)† | -1.42 (-2.28, -0.56) | -0.74 (-1.83, 0.35) | 0.13 (-0.68, 0.94) | -0.55 (-2.38, 1.29) | ||||||||||
| * Reported as Mean (standard deviation - SD) of the daily average PI-NRS scores for the 7 days preceding randomization (Treatment Period 1) or Week 5 (Treatment Period 2), respectively. † Reported as the Mean change from Baseline in the weekly average of the daily average PI-NRS scores, 95% Confidence Interval (CI), to the end of Treatment Period 1 (Week 4) or the end of Treatment Period 2 (Week 8), respectively. | ||||||||||||||
In addition to the average measures of PI-NRS, exploratory efficacy endpoints included an assessment of clinical responders (30% ≥ reduction from baseline in PI-NRS) and the Modified Knee Injury and Osteoarthritis Outcome Scale (KOOS). Results from these exploratory measures further supported the positive PI-NRS findings.
Dr. Robert H. Dworkin, Professor of Anesthesiology and Perioperative Medicine and of Neurology at University of Rochester Medicine, added, “Chronic pain remains a very significant unmet medical need, particularly for patients seeking effective and safe non-opioid treatment options. The early signals observed with PIPE-791, including improvements in pain measures and responder rates, are encouraging. The novel LPA1 activity targets underlying mechanisms of pain. These data provide compelling support for further clinical investigation.”
PIPE-791 For the Treatment of Chronic Pain
Chronic pain is often associated with neuropathic symptoms caused by aberrant signaling in the central nervous system (CNS). LPA1 activation has been shown preclinically to contribute to persistent hypersensitivity through demyelination of nerve fibers, increased neuronal excitability and neuroinflammation. By selectively blocking LPA1, PIPE-791 has the potential to modulate the maladaptive changes in the CNS and reduce pain.
About Contineum Therapeutics
Contineum Therapeutics (Nasdaq: CTNM) is a clinical-stage biopharmaceutical company pioneering novel, oral small molecule therapies for NI&I indications with significant unmet need. Contineum is advancing a pipeline of internally-developed programs with multiple drug candidates now in clinical trials. PIPE-791 is an LPA1 receptor antagonist in clinical development for idiopathic pulmonary fibrosis and chronic pain. PIPE-307 is a selective inhibitor of the M1 receptor in clinical development for relapsing-remitting multiple sclerosis and major depressive disorder. For more information, please visit www.contineum-tx.com.
Forward-Looking Statements
Certain statements contained in this press release, other than historical information, constitute forward-looking statements within the meaning of the federal securities laws. Forward-looking statements include, but are not limited to, implied or express statements regarding the pharmacological properties, safety, tolerability, clinical response and efficacy, and therapeutic potential of PIPE-791 for the treatment of chronic pain; the dosing requirements of PIPE-791 based on the Company’s Phase 1b clinical trial; or the potential of the data from the Company’s Phase 1b clinical trial to predict future clinical outcomes or results; the Company’s business strategies and plans; and the quotations of the Company’s management, scientific advisors, or other third parties including outside experts. These statements involve known and unknown risks, uncertainties and other important factors that are in some cases beyond the Company’s control and may cause its actual results, events, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These risks and uncertainties, include, but are not limited to, the following: the Company is heavily dependent on the success of PIPE-791 and PIPE-307, both of which are in the early stages of clinical development, and neither of these drug candidates may progress through clinical development or receive regulatory
approval; the results of preclinical studies and clinical trials, including those conducted by third parties, may not be predictive of future results and unexpected adverse side effects or inadequate efficacy of the Company’s drug candidates may limit their development, regulatory approval and/or commercialization; the timing and outcome of research, development and regulatory review is uncertain; the FDA or comparable foreign regulatory authorities may disagree as to the design or implementation of our proposed clinical trials; clinical trials and preclinical studies may not proceed at the time or in the manner expected, or at all; the Company may use its capital resources sooner than expected and they may be insufficient to allow the Company to achieve its anticipated milestones; the potential for the Company’s programs and prospects to be negatively impacted by developments relating to the Company’s competitors, including the results of studies or regulatory determinations relating to the Company’s competitors; the Company’s reliance, pursuant to a global license and development agreement, upon Janssen Pharmaceutica NV, a Johnson & Johnson company, to develop, in its sole discretion, PIPE-307 for relapsing-remitting multiple sclerosis, major depressive disorder or for any other indication; the Company has incurred significant operating expenses since inception and it expects that its operating expenses will continue to significantly increase for the foreseeable future; the Company’s ability to operate in a competitive industry and compete successfully against competitors that have greater resources than the Company does; the Company may be unable to obtain, maintain and enforce intellectual property protection for its technology and drug candidates; and unstable market and economic conditions and military conflict may adversely affect the Company’s business and financial condition and the broader economy and biotechnology industry. Additional risks and uncertainties that could affect the Company’s business, operations and results are included under the captions, “Risk Factors” and "Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Company's periodic filings and in other filings that the Company makes with the Securities and Exchange Commission (SEC) from time to time, which are available on the Company’s website at www.contineum-tx.com under the Investor section and on the SEC’s website at www.sec.gov. Accordingly, readers should not rely upon forward-looking statements as predictions of future events. Except as required by applicable law, the Company undertakes no obligation to update publicly or revise any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise.
Contact
Steve Kunszabo
Contineum Therapeutics
Senior Director, Investor Relations & Corporate Communications
858-649-1158
skunszabo@contineum-tx.com
PIPE-791 Phase 1b Chronic Pain Trial Topline Data Supplemental Information April 30, 2026 Exhibit 99.2
Disclaimer 2 This presentation by Contineum Therapeutics, Inc. (“Contineum”, “We” or “Our) contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1955. All statements other than statements of historical facts contained in this presentation, including without limitation, implied or express statements regarding the pharmacological properties, safety, tolerability, clinical response and efficacy, and therapeutic potential of PIPE-791 for the treatment of chronic pain in addition to the treatment of IPF/PPF; the dosing requirements of PIPE-791 based on the Company’s Phase 1b clinical trial; the potential of the data from the Company’s Phase 1b clinical trial to predict future clinical outcomes or results; statements regarding our clinical development plans, costs, timing and likelihood of success; potential indications for our drug candidates and the size of the market opportunities, as well as plans and objectives of management for future operations, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other important factors that are in some cases beyond our control and may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. The words “anticipate,” “believe,” contemplate,” “continue” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “potential” “predict,” “project,” “should,” “target,” “will” or “would” or the negative of these terms or other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. The forward-looking statements in this presentation are only predictions and represent our views as of the date of this presentation. Although we believe the expectations reflected in such forward-looking statements are reasonable, we cannot guarantee that the future results, advancements, discoveries, levels of activity, performance or events and circumstances reflected in the forward-looking statements will be achieved or occur. These risks and uncertainties, include, but are not limited to, the following: the Company is heavily dependent on the success of PIPE-791 and PIPE-307, both of which are in the early stages of clinical development, and neither of these drug candidates may progress through clinical development or receive regulatory approval; the results of earlier preclinical studies and clinical trials, including those conducted by third parties, may not be predictive of future results and unexpected adverse side effects or inadequate efficacy of the Company’s drug candidates may limit their development, regulatory approval and/or commercialization; the timing and outcome of research, development and regulatory review is uncertain; the FDA or comparable foreign regulatory authorities may disagree as to the design or implementation of our proposed clinical trials; clinical trials and preclinical studies may not proceed at the time or in the manner expected, or at all; the Company may use its capital resources sooner than expected and they may be insufficient to allow the Company to achieve its anticipated milestones; the potential for the Company’s programs and prospects to be negatively impacted by developments relating to the Company’s competitors, including the results of studies or regulatory determinations relating to the Company’s competitors; risks associated with reliance on third parties to successfully conduct clinical trials; the Company’s reliance, pursuant to a global license and development agreement, upon Janssen Pharmaceutica NV, a Johnson & Johnson company, to develop, in its sole discretion, PIPE-307 for relapsing-remitting multiple sclerosis, MDD or for any other indication; the restrictions contained in the Company’s global license and development agreement with Janssen Pharmaceutica NV limiting the Company’s access to, and restricting the Company from disclosing, certain information regarding the development of PIPE-307; the Company has incurred significant operating expenses since inception and it expects that its operating expenses will continue to significantly increase for the foreseeable future; the Company’s ability to operate in a competitive industry and compete successfully against competitors that have greater resources than the Company does; the Company may be unable to obtain, maintain and enforce intellectual property protection for its technology and drug candidates; and unstable market and economic conditions and military conflict may adversely affect the Company’s business and financial condition and the broader economy and biotechnology industry. Additional risks and uncertainties that could affect the Company’s business, operations and results are included under the captions, “Risk Factors” and "Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Company's periodic filings and in other filings that the Company makes with the Securities and Exchange Commission (SEC) from time to time, which are available on the Company’s website at www.contineum-tx.com under the Investor section and on the SEC’s website at www.sec.gov. Accordingly, readers should not rely upon forward-looking statements as predictions of future events. Except as required by applicable law, the Company undertakes no obligation to update publicly or revise any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise. This presentation contains estimates, projections and other information concerning our industry, our business and the markets for our product candidates, including data regarding the estimated size of such markets and the incidence of certain medical conditions. We obtained the industry, market and similar data set from our internal estimates and research, including surveys and studies we have sponsored and/or conducted, and from published studies from third parties, including governmental agencies. This data involves several assumptions and limitations, and you are cautioned not to give undue weight to such estimates. In addition, projections, assumptions, and estimates of our future performance and the future performance of the markets in which we operate are necessarily subject to a high degree of uncertainty and risk.
• Phase 1b randomized, double-blind, placebo-controlled, 4-week, crossover trial enrolled 43 patients – 23 chronic osteoarthritis pain (COAP) and 20 chronic lower back pain (CLBP) • Favorable safety and tolerability demonstrated at the once-daily 10mg oral dose in the largest patient population and longest treatment duration studied to date – Most treatment emergent adverse events (TEAEs) were mild to moderate; no serious adverse events (SAEs) reported – No clinically meaningful changes in vital signs, including mean changes in blood pressure (BP) or clinically-relevant orthostatic events • Encouraging trends observed across multiple exploratory efficacy endpoints including improvements in measures of pain and other functional patient-reported outcomes; particularly as it relates to COAP – Patients treated with PIPE-791 largely demonstrated numerical improvements from baseline in weekly average of average daily pain and worst pain using the 11-point Pain-Intensity Numerical Rating Scale (PI-NRS) We believe these data support further evaluation and development of PIPE-791 for the potential treatment of chronic pain 3 PIPE-791 Demonstrated a Favorable Safety and Tolerability Profile and Consistent Improvement Across Multiple Exploratory Pain Measures
Clinical Trial Schema(1) Primary endpoint for safety & tolerability Multiple exploratory endpoints for pain assessment COAP, n = 22 CLBP, n = 20 COAP, n = 21 CLBP, n = 19 Wash-out Run-in (baseline) PIPE-791 (10 mg, QD) Crossover Placebo Placebo PIPE-791 (10 mg, QD) Treatment Period 1 (TP1) Treatment Period 2 (TP2) Safety Follow- up 14 days 7 day 28 day 28 day V 1 V 2 V 3 V 4 V 5 V 6 V 7 V 8 V 9 V 10 V 11 4 (1) https://clinicaltrials.gov/study/NCT06810245 (2) A single participant with COAP (assigned to Placebo/PIPE 791) withdrew consent in TP1 and is not included in the TP1 full analysis set. (3) Two participants (one with COAP and one with CLBP, both assigned to PIPE-791/Placebo) discontinued treatment in TP1, never received placebo in TP2 and are not included in the TP2 full analysis set. (2) (3)
5 Similar Demographics and Disease Characteristics Across Treatment Groups – Participants with Moderate Chronic Pain Demographics & Baseline Pain Characteristics * PIPE-791 (N=21) Placebo (N=22) Total (N=43) Age (years) 57.1 (10.2) 57.9 (8.8) 57.5 (9.4) Female Sex n (%) 11 (52.4%) 14 (63.6%) 25 (58.1%) BMI (kg/m2) 30.7 (4.7) 31.3 (5.2) 31.0 (4.9) Indication n (%) COAP 11 (52.4%) 12 (54.5%) 23 (53.5%) CLBP 10 (47.6%) 10 (45.5%) 20 (46.5%) Duration of Primary Pain Diagnosis (Years) 11.2 (11.7) 10.0 (9.8) 10.6 (10.7) Baseline VAS † Score 58.2 (11.7) 60.6 (11.5) 59.4 (11.5) Baseline PCS † Total Score 16.9 (10.1) 16.6 (12.6) 16.7 (11.3) *Values are reported as mean (SD) unless otherwise noted † VAS = Visual Analog Scale; PCS = Pain Catastrophizing Scale
Sy st ol ic B P (m m H g) 160 140 120 100 Baseline Day 8 Day 36End of TP1* End of TP2 PIPE-791 Placebo PIPE-791 PIPE-791 PIPE-791 PIPE-791Placebo Placebo Placebo Placebo 6 PIPE-791 Demonstrated a Favorable Safety & Tolerability Profile • The most common TEAEs were headache (n=3) and fatigue (n=2) • No clinically meaningful changes in laboratory values and ECG findings across treatment groups • No clinically meaningful changes in vital signs, including mean changes in BP or clinically-relevant orthostatic events *PIPE-791 and Placebo positions reverse following End of TP1 as treatment assignments switch between periods in this crossover design.
7 PIPE-791 Produced Consistent and Sustained Improvements in PI-NRS Measures of Average Daily Pain for COAP in TP1 and TP2 Mean Change from Baseline (95% CI) in Weekly Average of Average Daily Pain (TP1 and TP2) -1.32 -1.50 -1.53 -1.60 -0.51 -0.86 -1.31 -1.27 -2.8 -2.4 -2.0 -1.6 -1.2 -0.8 -0.4 0.0 0.4 M ea n (9 5% C I) C ha ng e fr om B as el in e COAP - TP1 PIPE-791 (n=11) Placebo (n=11) Baseline Week 1 Week 2 Week 3 End TP1 -0.92 -0.85 -0.96 -1.42 -0.32 -0.65 -0.56 -0.74 -2.8 -2.4 -2.0 -1.6 -1.2 -0.8 -0.4 0.0 0.4 M ea n (9 5% C I) C ha ng e fr om B as el in e COAP - TP2 PIPE-791 (n=11) Crossover Placebo (n=10) Baseline Week 5 Week 6 Week 7 End TP2
8 PIPE-791 Produced Consistent and Sustained Improvements in PI-NRS Measures of Worst Daily Pain for COAP in TP1 and TP2 -1.36 -1.90 -1.90 -1.99 -0.36 -0.66 -1.13 -1.00 -3.6 -3.2 -2.8 -2.4 -2.0 -1.6 -1.2 -0.8 -0.4 0.0 0.4 0.8 1.2 M ea n (9 5% C I) C ha ng e fr om B as el in e COAP – TP1 PIPE-791 (n=11) Placebo (n=11) Baseline Week 1 Week 2 Week 3 End TP1 Mean Change from Baseline (95% CI) in Weekly Average of Worst Pain (TP1 and TP2) -1.00 -0.81 -0.73 -1.17 -0.05 -0.59 -0.52 -0.52 -3.6 -3.2 -2.8 -2.4 -2.0 -1.6 -1.2 -0.8 -0.4 0.0 0.4 0.8 1.2 M ea n (9 5% C I) C ha ng e fr om B as el in e COAP - TP2 PIPE-791 (n=11) Crossover Placebo (n=10) Baseline Week 5 Week 6 Week 7 End TP2
30% ≥ Greater Reduction From Baseline In Weekly Average of Average Daily PI-NRS (COAP at End of TP1 & TP2) 45.5% 45.5% 27.3% 44.4% 0% 20% 40% 60% End of TP1 End of TP2 Pe rc en ta ge o f R es po nd er s (% ) Treatment Period Endpoint COAP PIPE-791 (n=11) Placebo (n=11) 9 PIPE-791 Increased the Number of Patients Displaying a Clinically Meaningful Reduction in Average Chronic Pain for COAP
Modified KOOS in COAP Treatment Period 1 PIPE-791 (N = 11) Placebo (N = 11) Baseline Modified KOOS* 59.36 (9.65) 54.28 (15.39) Change From Baseline 95% CI † +10.56 (3.62, 17.50) +6.28 (-2.63, 15.20) Treatment Period 2 PIPE-791 (N = 11) Crossover Placebo (N = 10) Baseline Modified KOOS* 60.56 (20.86) 71.91 (11.40) Change From Baseline 95% CI † +15.78 (7.86, 23.69) +3.53 (-1.53, 8.59) In this study only the activities of daily living function domain of the KOOS was administered * Reported as mean (SD) of the last value before first dose of treatment period † Reported as the Mean (CI) of change from day 1 to week 4 (TP1) or week 4 to week 8 (TP2) 10 Supportive Evidence from Modified KOOS Demonstrates a Potential for Functional Improvement In Patients with COAP
TP1 COAP CLBP Average Daily Pain PIPE-791 (N= 11) Placebo (N =11) PIPE-791 (N = 10) Placebo (N = 10) Baseline Weekly Average PI-NRS * 5.58 (1.21) 6.23 (1.43) 5.60 (1.27) 5.57 (1.50) Change From Baseline 95% CI † -1.60 (-2.49, -0.72) -1.27 (-2.15, -0.39) -1.33 (-1.83, -0.84) -0.55 (-1.33, 0.22) Worst Daily Pain PIPE-791 Placebo PIPE-791 Placebo Baseline Weekly Average PI-NRS * 6.52 (0.89) 6.79 (1.34) 6.51 (1.21) 6.31 (1.31) Change From Baseline 95% CI † -1.99 (-3.30, -0.68) -1.00 (-2.05, 0.05) -1.28 (-1.85, -0.70) -0.53 (-1.37, 0.32) * Reported as mean (SD) of the daily average or the worst daily PI-NRS scores for the 7 days preceding randomization † Reported as the mean change from Baseline in the weekly average of the daily average PI-NRS scores or worst daily PI-NRS scores, 95% Confidence Interval (CI), to End of Treatment Period 1 (Week 4) 11 PIPE-791 Treatment Demonstrated Numerically Greater Improvements in Pain Measures as Compared to Placebo in TP1
TP2 COAP CLBP Average Daily Pain PIPE-791 (N = 11) Crossover Placebo (N = 10) PIPE-791 (N = 9) Crossover Placebo (N = 10) Baseline Weekly Average PI-NRS * 4.96 (2.21) 3.56 (1.45) 4.72 (1.89) 4.75 (1.81) Change From Baseline 95% CI † -1.42 (-2.28, -0.56) -0.74 (-1.83, 0.35) 0.13 (-0.68, 0.94) -0.55 (-2.38, 1.29) Worst Daily Pain PIPE-791 Crossover Placebo PIPE-791 Crossover Placebo Baseline Weekly Average PI-NRS * 5.78 (2.22) 4.16 (1.57) 5.50 (1.94) 5.57 (1.73) Change From Baseline 95% CI † -1.17 (-2.15, -0.19) -0.52 (-2.02, 0.97) -0.14 (-1.16, 0.87) -0.64 (-2.50, 1.21) * Reported as mean (SD) of the daily average or the worst daily PI-NRS scores for the 7 days preceding Week 5 † Reported as the mean change from Baseline in the weekly average of the daily average PI-NRS scores or worst daily PI-NRS scores, 95% Confidence Interval (CI), to End of Treatment Period 2 (Week 8) 12 Compared to Crossover Placebo, PIPE-791 Demonstrated Consistent Improvements in Pain Measures for COAP Patients in TP2
13 PIPE-791 – A Differentiated Brain-Penetrant LPA1 Antagonist with Broad Therapeutic Potential Fibrosis • LPA1 clinical validation in IPF/PPF • Differentiated profile including target coverage and tolerability • Brain penetrance may address fibrosis and pain burden including comorbid age-related pain (OA, CLBP) and pain components of ILDs (RA-ILD, SSc-ILD) Chronic Pain • Novel, non-opioid mechanism targeting LPA1-driven peripheral and central sensitization • Encouraging safety and early efficacy signals • Ongoing evaluation to assess next steps in chronic pain indications for potential future development PIPE-791 may address both fibrotic disease progression and the pain/quality of life (QOL) burden experienced by pulmonary fibrosis patients
PIPE-791 Phase 1b Chronic Pain Trial Topline Data Supplemental Information April 30, 2026
FAQ
What did Contineum Therapeutics (CTNM) announce about its PIPE-791 chronic pain trial?
Contineum reported positive topline Phase 1b data for PIPE-791 in chronic pain. The drug met its primary safety endpoint and showed numerically greater reductions in pain versus placebo on several exploratory measures, particularly in chronic osteoarthritis pain patients.
How was the PIPE-791 Phase 1b chronic pain trial for CTNM designed?
The study was a randomized, double-blind, placebo-controlled, 4‑week crossover Phase 1b trial. It enrolled 43 patients, including 23 with chronic osteoarthritis pain and 20 with chronic low back pain, who received once‑daily 10 mg oral PIPE-791 or placebo in two treatment periods.
What were the key safety findings for PIPE-791 in Contineum’s trial?
PIPE-791 demonstrated a favorable safety and tolerability profile. Most treatment‑emergent adverse events were mild to moderate, with headache and fatigue most common, and no serious adverse events or clinically meaningful changes in blood pressure or orthostatic measures were reported.
What pain outcomes did PIPE-791 show in CTNM’s Phase 1b study?
Pain was measured using the 11‑point Pain‑Intensity Numerical Rating Scale. Patients on PIPE-791 generally had greater numerical improvements from baseline in average and worst daily pain versus placebo, with supportive responder and functional outcome data, especially in osteoarthritis patients.
Does Contineum plan further development of PIPE-791 for chronic pain?
Company leadership stated that the Phase 1b results, including safety and exploratory pain improvements, support further evaluation of PIPE-791 for chronic pain. They indicated they are contemplating next clinical development steps based on these encouraging early data.
What is PIPE-791 and what indications is CTNM pursuing?
PIPE-791 is a potentially best‑in‑class oral antagonist of the lysophosphatidic acid 1 (LPA1) receptor. Contineum is developing it for idiopathic pulmonary fibrosis and chronic pain, aiming to offer a non‑opioid treatment option that targets mechanisms involved in fibrosis and pain.