Monitor upcoming clinical data readouts in H1 and H2 2026 for budoprutug and CLYM116, which could serve as key catalysts. The increased R&D spending reflects pipeline advancement but will continue to pressure cash reserves despite the current runway into 2028.
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Executive Summary
Climb Bio reported financial results for Q4 and full year 2025, highlighting a cash position of $160.7 million expected to fund operations into 2028. The company advanced its clinical pipeline with budoprutug and CLYM116, completing dosing in a Phase 1 subcutaneous formulation study and anticipating multiple data readouts in 2026. R&D expenses increased significantly year-over-year.
Key Financial Metrics
Key Facts
- Cash, cash equivalents, and marketable securities were $160.7 million as of December 31, 2025, expected to fund operations into 2028
- R&D expenses were $46.7 million for full year 2025, up from $14.3 million in 2024
- G&A expenses were $21.2 million for full year 2025, up from $16.0 million in 2024
- Net loss was $59.851 million for full year 2025, compared to $73.897 million in 2024
- Dosing completed in Phase 1 study of budoprutug subcutaneous formulation, with data expected in H1 2026
- Clinical trials ongoing for budoprutug in pMN, ITP, and SLE, with initial data expected in H2 2026
Financial Impact
R&D expenses increased by $32.4 million YoY while cash position decreased from $212.5 million in 2024 to $160.7 million in 2025
Risk Factors
- Clinical trial results may not meet expectations
- Cash runway depends on successful clinical progress and potential need for future financing
- Increased R&D expenses may continue to grow as trials advance
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-092520 |
| Document: clym-20260305.htm | 0001193125-26-092520 |
| Document: 0001193125-26-092520-index-headers.html | 0001193125-26-092520 |
| Document: 0001193125-26-092520-index.html | 0001193125-26-092520 |
| Document: 0001193125-26-092520.txt | 0001193125-26-092520 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 today | 8-K | — | awaiting T+1 | — | — |
Oct 23, 2026 2d ago | 8-K | $10.47 | awaiting T+1 | — | $9.10 (−13.04%) |
Oct 23, 2026 2d ago | Press Release | $10.34 | awaiting T+1 | — | $9.10 (−11.94%) |
Sep 22, 2026 4w ago | Institutional Cluster | $14.21 $12.52 | ▼ −11.89% | ▼ −11.17% | $9.10 (−35.93%) |
Sep 3, 2026 7w ago | 8-K | $14.59 $15.52 | ▲ +6.37% | ▲ +6.76% | $9.10 (−37.59%) |
Aug 14, 2026 10w ago | 8-K | $16.33 $17.44 | ▲ +6.80% | ▲ +7.27% | $9.10 (−44.24%) |
Aug 6, 2026 11w ago | 8-K | $14.00 $14.00 | · 0.00% | ▼ −0.61% | $9.10 (−34.96%) |
Jun 30, 2026 16w ago | 144 | $13.29 $12.90 | ▼ −2.93% | ▼ −2.80% | $9.10 (−31.49%) |
Jun 12, 2026 19w ago | 8-K | $11.49 $10.71 | ▲ +6.79% | ▲ +6.19% | $9.10 (+20.76%) |
Jun 12, 2026 19w ago | 424B5 | $11.49 $10.71 | ▲ +6.79% | ▲ +6.19% | $9.10 (+20.76%) |
US Market Status
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