Traders should monitor the upcoming AX-0810 target engagement data in 1H 2026 as a key catalyst; positive results could validate the Axiomer platform and drive upside. However, the increased cash burn and lack of near-term revenue may pressure valuation if milestones are delayed.
Price Chart
Executive Summary
ProQR Therapeutics reported its 2025 financial results and provided a business update, highlighting advancement of its AX-0810 program into Phase 1 trials with target engagement data expected in 1H 2026, selection of development candidates AX-2402 for Rett syndrome and AX-2911 for MASH, and achievement of $4.5 million in milestone payments from its collaboration with Eli Lilly. The company ended 2025 with €92.4 million in cash, supporting a runway into mid-2027 despite increased R&D spending and a wider net loss.
Key Financial Metrics
Key Facts
- AX-0810 Phase 1 trial ongoing in healthy volunteers; target engagement data expected in 1H 2026
- Development candidates selected for AX-2402 (Rett syndrome) and AX-2911 (MASH) based on strong preclinical data
- Achieved $4.5 million in milestone payments from Eli Lilly collaboration in 2025
- Cash and cash equivalents of €92.4 million at year-end 2025, down from €149.4 million in 2024
- Net loss widened to €42.2 million in 2025 from €27.8 million in 2024
- Cash runway extended to mid-2027 despite higher operating cash burn
Financial Impact
Net loss increased by 51.8% YoY to €42.2 million; R&D costs rose 22.8% to €44.7 million; cash balance decreased by €57 million year-over-year
Risk Factors
- Clinical data for AX-0810 may not meet expectations, especially in patient cohorts
- Increased net loss and cash burn could necessitate future dilutive financing if milestones are not achieved
- Reliance on Lilly collaboration for future milestone payments and partnership stability
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3254449 |
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| Type | Now | ||||
|---|---|---|---|---|---|
Sep 23, 2026 4w ago | 6-K | $1.70 $1.66 | ▼ −2.35% | ▼ −1.68% | $1.28 (−24.41%) |
Sep 9, 2026 6w ago | 6-K | $1.99 $1.86 | ▼ −6.53% | ▼ −5.44% | $1.28 (−35.43%) |
Jul 16, 2026 14w ago | EFFECT | $1.67 $1.79 | ▼ −7.19% | ▼ −8.86% | $1.28 (+23.05%) |
Jun 25, 2026 17w ago | 6-K | $1.53 $1.81 | ▼ −18.30% | ▼ −16.13% | $1.28 (+16.01%) |
Jun 25, 2026 17w ago | 424B5 | $1.53 $1.81 | ▲ +18.30% | ▲ +16.13% | $1.28 (−16.01%) |
Jun 2, 2026 20w ago | 6-K | $1.47 $1.41 | ▼ −4.08% | ▼ −0.26% | $1.28 (−12.59%) |
May 12, 2026 24w ago | 6-K | $1.60 $1.51 | ▲ +5.63% | ▲ +5.70% | $1.28 (+19.69%) |
Apr 30, 2026 25w ago | 6-K | $1.57 $1.72 | ▲ +9.55% | ▲ +7.83% | $1.28 (−18.15%) |
Apr 30, 2026 25w ago | Press Release | $1.57 $1.72 | ▲ +9.55% | ▲ +7.83% | $1.28 (−18.15%) |
Apr 8, 2026 28w ago | 6-K | $1.98 $1.95 | ▼ −1.52% | ▼ −4.70% | $1.28 (−35.10%) |
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