The filing shows continued cash burn and reliance on ATM dilution for funding. With only $6.1M cash and no near-term revenue catalyst, the company will likely need additional financing within 12 months. Preclinical data for IM1240 is early-stage and does not change the fundamental cash runway concern. Monitor for partnership announcements or further equity raises.
Price Chart
Executive Summary
Purple Biotech reported Q2 2026 financial results with a net income of $0.4M driven by non-cash warrant revaluation gains, while operating loss widened to $1.3M. Cash and equivalents stood at $6.1M, providing runway through mid-2027 per management. Preclinical data for lead candidate IM1240 was presented at EACR 2026, supporting its safety and pharmacokinetic profile, but the program remains pre-clinical with clinical entry targeted for 2027. The company raised $2.3M gross via an ATM program during H1 2026, adding dilution.
Key Facts
- Cash and cash equivalents + short-term deposits totaled $6.1M as of June 30, 2026, down from $9.6M at Dec 31, 2025.
- Net cash used in operating activities was $5.6M for H1 2026 vs $3.5M in H1 2025.
- Operating loss for Q2 2026 was $1.3M, up from $1.2M in Q2 2025.
- Net income of $0.4M in Q2 2026 was entirely due to a $1.7M non-cash gain from warrant revaluation.
- Adjusted net loss (ex-warrant revaluation and stock comp) was $1.2M in Q2 2026 vs $1.1M in Q2 2025.
- Issued 692k ADS under ATM program in H1 2026, raising $2.3M gross ($2.0M net).
- IM1240 tri-specific antibody preclinical data presented at EACR 2026; clinical studies targeted for 2027.
- Accumulated loss reached $170.7M; total equity was $12.2M.
- Warrant liability fell from $4.1M at Dec 31, 2025 to $0.2M at June 30, 2026 due to revaluation.
- Company has no revenue and relies on financing for operations.
Financial Impact
Cash burn rate of ~$1.0M/month (operating cash outflow $5.6M over 6 months); $6.1M cash provides ~12 months runway at current burn. Dilution from ATM: 692k ADS issued, representing ~43% of opening ADS count (930k).
Risk Factors
- Cash runway only through mid-2027; may require dilutive financing before then.
- No approved products or revenue; clinical development of IM1240 is years away from potential commercialization.
- Significant dilution from ATM program (692k ADS in H1 2026 vs 930k opening balance).
- Geopolitical risk from Israel operations amid regional conflict.
- Historical performance shows poor stock price reaction to prior filings on this ticker.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001213900-26-086393 |
| Document: ea030094001ex99-1.htm | 0001213900-26-086393 |
| Document: ea0300940-6k_purple.htm | 0001213900-26-086393 |
| Document: 0001213900-26-086393-index-headers.html | 0001213900-26-086393 |
| Document: 0001213900-26-086393-index.html | 0001213900-26-086393 |
| Document: 0001213900-26-086393.txt | 0001213900-26-086393 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 9, 2026 22d ago | 6-K | $1.74 $1.55 | ▼ −11.21% | ▼ −10.71% | $1.44 (−17.24%) |
Sep 2, 2026 4w ago | 6-K | $1.98 $1.74 | ▼ −12.12% | ▼ −11.16% | $1.44 (−27.27%) |
Aug 10, 2026 7w ago | 6-K | $1.55 $1.56 | ▲ +0.65% | ▲ +1.05% | $1.44 (−7.10%) |
Aug 7, 2026 8w ago | 6-K | $1.43 $1.50 | ▲ +4.90% | ▲ +4.50% | $1.44 (+0.70%) |
May 15, 2026 20w ago | Press Release | $3.94 $2.88 | ▼ −26.90% | ▼ −27.87% | $1.44 (−63.45%) |
Apr 27, 2026 22w ago | 6-K | $4.59 $4.22 | ▼ −8.06% | ▼ −8.46% | $1.44 (−68.63%) |
Apr 23, 2026 23w ago | 6-K | $4.55 $4.23 | ▼ −7.03% | ▼ −8.51% | $1.44 (−68.35%) |
Mar 13, 2026 29w ago | Press Release | $4.10 $3.98 | ▼ −2.93% | ▼ −0.81% | $1.44 (−64.88%) |
Mar 13, 2026 29w ago | Press Release | $4.10 $3.98 | ▼ −2.93% | ▼ −0.81% | $1.44 (−64.88%) |
US Market Status
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