No immediate catalyst; monitor for Phase 1b/2 data expected in 1H 2027 and cash runway updates. Cash runway into Q4 2027 provides visibility through key clinical milestones.
Price Chart
Executive Summary
Kalaris Therapeutics reported Q1 2026 financial results, with net loss widening to $10.9M from $10.2M YoY and cash decreasing to $104.9M from $118.0M. Patient screening has commenced in the Phase 1b/2 study of TH103, with preliminary data expected in 1H 2027 and Phase 3 trials on track for year-end 2027. The filing is a routine quarterly update with no material new data or surprises.
Key Financial Metrics
Key Facts
- Q1 2026 net loss of $10.9M vs $10.2M in Q1 2025
- Cash, cash equivalents and marketable securities of $104.9M as of March 31, 2026
- Patient screening underway in Phase 1b/2 multiple ascending dose trial of TH103
- Preliminary Phase 1b/2 data expected in first half of 2027
- Phase 3 clinical trials remain on track for year-end 2027 initiation
Financial Impact
Net loss increased by $0.7M YoY, cash burn of approximately $13.1M per quarter
Risk Factors
- Clinical trial failure or delay risk for TH103
- Potential dilution from future capital raises to fund operations beyond Q4 2027
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-218240 |
| Document: d24879d8k.htm | 0001193125-26-218240 |
| Document: 0001193125-26-218240-index-headers.html | 0001193125-26-218240 |
| Document: 0001193125-26-218240-index.html | 0001193125-26-218240 |
| Document: 0001193125-26-218240.txt | 0001193125-26-218240 |
| 8-K Data (Synthetic) | 0001193125-26-218240 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 1d ago | SC 13G | $1.80 | awaiting T+60 | — | $1.86 (+3.33%) |
Aug 11, 2026 11w ago | 8-K | $3.97 | awaiting T+60 | — | $1.86 (−53.15%) |
Aug 11, 2026 11w ago | Press Release | $3.97 | awaiting T+60 | — | $1.86 (−53.15%) |
Aug 3, 2026 12w ago | 3 | $4.32 | awaiting T+60 | — | $1.86 (−56.94%) |
Jul 20, 2026 14w ago | 8-K | $4.00 $2.23 | ▼ −44.25% | ▼ −49.09% | $1.86 (−53.50%) |
Jul 17, 2026 14w ago | 8-K | $4.38 $2.26 | ▼ −48.40% | ▼ −53.09% | $1.86 (−57.53%) |
Jul 17, 2026 14w ago | Press Release | $4.38 $2.26 | ▼ −48.40% | ▼ −53.09% | $1.86 (−57.53%) |
Jun 11, 2026 19w ago | Institutional Cluster | $4.36 $3.90 | ▼ −10.55% | ▼ −14.95% | $1.86 (−57.34%) |
May 12, 2026 24w ago | 8-K | $4.79 $4.19 | ▼ −12.53% | ▼ −16.91% | $1.86 (−61.17%) |
May 12, 2026 24w ago | Press Release | $4.79 $4.19 | ▼ −12.53% | ▼ −16.91% | $1.86 (−61.17%) |
US Market Status
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