Monitor for preliminary Phase 1b/2 data in 1H 2027 as the primary catalyst. Cash runway into Q4 2027 provides a buffer, but the stock has historically drifted lower on neutral reports. Watch for any insider buying or institutional accumulation ahead of data readouts.
Price Chart
Executive Summary
Kalaris Therapeutics reported Q2 2026 EPS of -$0.48, a 7.1% beat vs consensus of -$0.49, but net loss widened slightly to $11.5M from $11.4M a year ago. The company is dosing patients in its Phase 1b/2 study of TH103 for nAMD, with preliminary data expected in 1H 2027 and Phase 3 trials on track for year-end 2027.
Key Financial Metrics
Key Facts
- Q2 2026 EPS of -$0.48 beat consensus of -$0.49 by 7.1%
- Net loss of $11.5M widened slightly from $11.4M in Q2 2025
- Cash, cash equivalents and marketable securities of $93.5M as of June 30, 2026, down from $118.0M at Dec 31, 2025
- Phase 1b/2 study of TH103 for nAMD is dosing patients; preliminary data expected in 1H 2027
- Phase 3 trials for TH103 remain on track for initiation by year-end 2027
- Cash runway expected into Q4 2027, funding through key clinical milestones
Financial Impact
Q2 2026 net loss of $11.5M, slightly wider than $11.4M in Q2 2025; cash burn of ~$24.4M in H1 2026
Risk Factors
- Clinical trial failure or delay for TH103
- Cash burn rate may accelerate if enrollment expands faster than expected
- No near-term catalysts until 1H 2027 data readout
- Historical negative drift on neutral reports suggests limited investor interest pre-data
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3342635 |
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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