The cash runway through Q1 2027 provides limited visibility for a pre-revenue biotech. The upcoming EASL presentations on May 30, 2026 and any partnering announcements are the key near-term catalysts. Monitor for partnership deal terms that could extend runway and validate the PSC/IBD thesis.
Price Chart
Executive Summary
Chemomab Therapeutics reported Q1 2026 financial results, with net loss narrowing to $1.8M from $3.3M YoY on lower R&D spend as the Phase 2 SPRING trial winds down. Cash of $8.0M funds operations through Q1 2027. The company highlighted new biomarker data from nebokitug in PSC suggesting potential benefit in PSC patients with co-existing IBD, and continues to advance partnering discussions.
Key Facts
- Net loss of $1.8M in Q1 2026 vs $3.3M in Q1 2025
- Cash, cash equivalents and short-term bank deposits of $8.0M as of March 31, 2026
- Cash runway expected to fund operations through end of Q1 2027
- R&D expenses decreased to $0.9M from $2.5M YoY due to winding down of Phase 2 SPRING trial
- 576,030,200 ordinary shares outstanding as of March 31, 2026 (7,200,377 ADSs)
- New biomarker data from SPRING trial presented at DDW 2026 and upcoming EASL 2026 shows nebokitug modulates pathways relevant to both PSC and IBD
- Company continues to advance multiple partnering options for nebokitug
Financial Impact
Net loss improved by $1.5M YoY to $1.8M; cash burn of $2.4M in Q1 2026
Risk Factors
- Cash runway only through Q1 2027 — financing risk if partnering discussions fail to materialize
- No revenue and pre-commercial stage — binary risk on Phase 3 trial outcomes
- Biomarker data is correlative, not proof of clinical efficacy in IBD co-morbidity
- Small market cap ($13M) amplifies volatility on any news
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001178913-26-002672 |
| Document: zk2635329.htm | 0001178913-26-002672 |
| Document: 0001178913-26-002672-index-headers.html | 0001178913-26-002672 |
| Document: 0001178913-26-002672-index.html | 0001178913-26-002672 |
| Document: 0001178913-26-002672.txt | 0001178913-26-002672 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 19, 2026 6w ago | 6-K | $2.09 $2.80 | ▲ +33.97% | ▲ +35.92% | $1.30 (−37.80%) |
Aug 19, 2026 6w ago | Press Release | $2.09 $2.80 | ▼ −33.97% | ▼ −35.92% | $1.30 (+37.80%) |
Jul 8, 2026 12w ago | 6-K | $1.97 $1.75 | ▼ −11.17% | ▼ −14.44% | $1.30 (−34.01%) |
Jun 2, 2026 17w ago | 6-K | $1.72 $2.27 | ▲ +31.98% | ▲ +32.98% | $1.30 (−24.42%) |
May 14, 2026 20w ago | 6-K | $1.70 $1.65 | ▼ −2.94% | ▼ −2.08% | $1.30 (−23.53%) |
May 14, 2026 20w ago | Press Release | $1.70 $1.65 | ▼ −2.94% | ▼ −2.08% | $1.30 (−23.53%) |
May 6, 2026 21w ago | 6-K | $1.74 $1.72 | ▼ −1.15% | ▼ −4.29% | $1.30 (−25.29%) |
Mar 19, 2026 28w ago | Press Release | $1.93 $1.67 | ▼ −13.47% | ▼ −21.09% | $1.30 (−32.64%) |
US Market Status
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