The stock is a binary catalyst play on partnership news or Phase 3 trial updates. With $8M cash lasting ~3 more quarters and no revenue, the company must secure a partnership or financing by mid-2027. Monitor EASL 2026 presentations (May 30) for any partnership announcement or data that could trigger a re-rating.
Price Chart
Executive Summary
Chemomab reported Q1 2026 net loss of $1.8M ($0.003/share) vs $3.3M in Q1 2025, with cash burn reduced to $2.4M. The company highlighted new biomarker data from its Phase 2 SPRING trial suggesting nebokitug may benefit PSC patients with coexisting IBD, and continues pursuing partnership discussions. Cash runway extends through Q1 2027, but at a $13M market cap the stock remains a binary-option on partnership or Phase 3 outcomes.
Key Financial Metrics
Key Facts
- Q1 2026 net loss of $1.8M vs $3.3M in Q1 2025; R&D expenses fell to $0.9M from $2.5M as Phase 2 SPRING trial wound down
- Cash, equivalents and short-term deposits of $8.0M as of March 31, 2026, down from $10.4M at year-end 2025; runway through Q1 2027
- New biomarker data from SPRING trial presented at DDW 2026 and upcoming EASL 2026 suggest nebokitug modulates gut-liver inflammatory pathways relevant to PSC-IBD comorbidity
- Company continues advancing multiple partnering options for nebokitug; no definitive partnership announced
- FDA alignment on Phase 3 registration trial design for PSC previously achieved; nebokitug has FDA/EMA Orphan Drug and FDA Fast Track designations for PSC
Financial Impact
Cash burn of ~$2.4M in Q1 2026; cash runway of ~$8M expected to fund operations through Q1 2027
Risk Factors
- Cash runway only through Q1 2027; dilutive financing likely if partnership does not materialize
- No approved products or revenue; full reliance on nebokitug clinical and regulatory success
- Phase 3 PSC trial carries inherent clinical and regulatory risk; biomarker data may not translate to clinical endpoints
- Low liquidity ($13M market cap) amplifies price volatility on any news
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3294834 |
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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