Hemab Therapeutics Reports First Quarter 2026 Financial Results
Rhea-AI Summary
Hemab Therapeutics (Nasdaq:COAG) reported Q1 2026 results and outlined clinical and financing milestones.
The company completed an upsized IPO in May 2026, raising $346.7 million gross, received FDA Breakthrough Therapy Designation for sutacimig in Glanzmann thrombasthenia, advanced multiple trials, and ended Q1 with $163.5 million in cash and securities.
AI-generated analysis. Not financial advice.
Positive
- Upsized IPO raised $346.7 million gross at $18.00 per share
- Net IPO proceeds of about $317.2 million extend cash runway into 2029
- Received FDA Breakthrough Therapy Designation for sutacimig in Glanzmann thrombasthenia
- Sutacimig holds Orphan Drug Designation from FDA and EMA for GT
- Phase 1/2 sutacimig GT trial Part B completed; Phase 3 planned for H2 2026
- Ongoing Phase 2 sutacimig trial in Factor VII deficiency with data expected late 2026/early 2027
- Ongoing Phase 1/2 HMB-002 trial in VWD with data expected late 2026/early 2027
Negative
- Q1 2026 net loss widened to $22.7 million from $15.3 million year over year
- Q1 2026 R&D expenses rose to $19.5 million from $14.1 million
- Q1 2026 G&A expenses increased to $4.2 million from $2.5 million
- Cash, cash equivalents, and securities declined to $163.5 million from $185.5 million before IPO proceeds
- Lead programs remain in Phase 1/2 and Phase 2; no approved products generating revenue
News Market Reaction – COAG
On the day this news was published, COAG declined 0.64%, reflecting a mild negative market reaction. This price movement removed approximately $8M from the company's valuation, bringing the market cap to $1.23B at that time.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
No peer stocks were flagged in the momentum scanner, suggesting the 4.05% move in COAG ahead of this report appears stock-specific rather than part of a broader Biotechnology sector rotation.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| May 04 | IPO completion | Positive | -1.3% | Closed upsized IPO with $346.7M gross proceeds and Nasdaq listing. |
The only prior recorded event (IPO) showed a slight negative price reaction despite a fundamentally positive financing milestone.
In early May 2026, Hemab completed an upsized IPO, selling 19,262,500 shares at $18.00 for about $346.7 million in gross proceeds, and began trading on Nasdaq under COAG. The stock fell about 1.34% in the first session after that positive financing event. Today’s Q1 2026 results and development updates build on that IPO, emphasizing cash runway and advancement of sutacimig and HMB-002 following the transition to public-company status.
Market Pulse Summary
This announcement pairs Q1 2026 financials with clear development milestones, including Breakthrough Therapy and Orphan Drug designations for sutacimig and progress toward a Phase 3 trial. The company reported cash of $163.5 million plus about $317.2 million in IPO net proceeds, guiding runway into 2029, against a quarterly net loss of $22.7 million. Investors may focus on upcoming late‑2026 data readouts and how R&D spending evolves relative to this expanded cash position.
Key Terms
breakthrough therapy designation regulatory
orphan drug designation regulatory
phase 1/2 clinical trial medical
phase 2 clinical trial medical
phase 3 pivotal clinical trial medical
bispecific antibody medical
von willebrand disease medical
AI-generated analysis. Not financial advice.
Completed Initial Public Offering in May 2026, raising gross proceeds of
Granted Breakthrough Therapy Designation for sutacimig in Glanzmann thrombasthenia
CAMBRIDGE, Mass. and COPENHAGEN, Denmark, May 21, 2026 (GLOBE NEWSWIRE) -- Hemab Therapeutics Holdings, Inc., a clinical-stage biotechnology company developing therapies that reimagine the treatment of blood coagulation disorders to sustain life and human resilience, today announced financial results for the first quarter ended March 31, 2026 and noted recent business highlights.
“As a public company we continue our journey to accelerate progress and broaden impact for people living with serious coagulation disorders with strong momentum across our clinical programs,” said Benny Sørensen, Chief Executive Officer of Hemab Therapeutics. “The Breakthrough Therapy Designation for sutacimig in Glanzmann thrombasthenia recognizes both the potential for sutacimig to address a significant unmet need, and the urgency of bringing new treatment options to people living with Glanzmann thrombasthenia. With the successful completion of our IPO, our team remains focused on advancing sutacimig toward pivotal trials, advancing HMB-002, while continuing to expand our pipeline with the goal of bringing new therapies to those living with high unmet need coagulation disorders.”
Corporate Highlights
In May 2026, the Company completed an upsized IPO of 19,262,500 shares of its common stock, including the exercise in full of the underwriters’ option to purchase an additional 2,512,500 shares, at a public offering price of
Recent Business Highlights and Anticipated Milestones
Sutacimig: Sutacimig, a bispecific antibody, is the Company's most advanced product candidate. The Company is advancing the clinical development of sutacimig for two indications: Glanzmann thrombasthenia (GT) and Factor VII Deficiency.
Glanzmann Thrombasthenia:
GT is a serious inherited bleeding disorder with a prevalence of between 1 in 350,000 and 1 in 600,000 in the United States and caused by defects in platelet aggregation. Current treatment options are limited to platelet transfusions, antifibrinolytics, recombinant Factor VIIa, and bone marrow transplantation.
- The Company is conducting a Phase 1/2 clinical trial of sutacimig in patients with GT. Part B of the trial, which evaluated the safety and tolerability profile of sutacimig and explored clinical efficacy over three months at multiple dose levels, is complete, and patients are continuing treatment with sutacimig in the long-term extension portion of the trial.
- In March, sutacimig received Breakthrough Therapy Designation from the US Food and Drug Administration (FDA) for GT, a designation awarded to medicines that treat serious or life-threatening conditions where preliminary clinical evidence suggests the potential for a substantial improvement over the current standard of care.
- The Company is preparing for a planned Phase 3 pivotal clinical trial in patients with GT that it anticipates initiating in the second half of 2026.
- Sutacimig has received Orphan Drug Designation from both the FDA and the European Medicines Agency (EMA) for the treatment of GT.
Factor VII Deficiency
Factor VII deficiency is a serious inherited coagulation disorder affecting approximately 1 in 500,000 people globally, that is characterized by impaired blood clotting and increased bleeding risk.
- The Company is conducting an ongoing Phase 2 clinical trial of sutacimig for Factor VII deficiency. The Company expects to report data from the trial in late 2026 or early 2027.
HMB-002 - Von Willebrand Disease
HMB-002 is a novel monovalent antibody designed for subcutaneous prophylactic treatment of Von Willebrand Disease (VWD), one of the most common inherited bleeding disorders affecting approximately 140,000 patients.
- The Company is evaluating HMB-002 in an ongoing Phase 1/2 clinical trial. The Company expects to report data from the trial in late 2026 or early 2027.
Pipeline Expansion
The Company is also advancing multiple preclinical and discovery-stage assets focused on coagulation disorders with the goal of addressing critical gaps in the treatment landscape.
First Quarter 2026 Financial Results
- Cash Position and Cash Runway: Cash, cash equivalents, and marketable securities totaled
$163.5 million as of March 31, 2026, compared to$185.5 million as of December 31, 2025. The Company believes its current cash, cash equivalents, and marketable securities, together with net proceeds from the initial public offering completed in May 2026 of approximately$317.2 million , will enable it to fund its operating expenses and capital expenditure requirements into 2029. - Research and Development Expenses: Research and development expenses were
$19.5 million for the three months ended March 31, 2026, compared to$14.1 million for the three months ended March 31, 2025, reflecting advancement of clinical programs and regulatory activities. - General and Administrative Expenses: General and administrative expenses were
$4.2 million for the three months ended March 31, 2026, compared to$2.5 million for the three months ended March 31, 2025, including costs associated with preparing for and completing the initial public offering. - Net Loss: Net loss was
$22.7 million , or$23.98 per share, for the three months ended March 31, 2026, compared to a net loss of$15.3 million , or$16.18 per share, for the three months ended March 31, 2025.
About Hemab Therapeutics
Hemab Therapeutics Holdings, Inc. is a clinical-stage biotechnology company developing therapies that reimagine the treatment of blood coagulation disorders to sustain life and human resilience. Hemab’s mission is to discover, develop, and commercialize innovative therapies for the millions of patients worldwide suffering from serious bleeding and thrombotic diseases. Hemab is building a franchise of innovative therapeutics designed to address critical gaps in the treatment of coagulation disorders, including sutacimig (HMB-001), a bispecific antibody in clinical development for the prophylactic treatment of Glanzmann thrombasthenia and Factor VII deficiency, and HMB-002, a monovalent antibody in clinical development for the prophylactic treatment of Von Willebrand Disease.
Learn more at hemab.com. Follow us on LinkedIn, Facebook, Instagram, and X.
Forward-Looking Statements
This press release contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, contained in this press release, including statements regarding Hemab’s strategy, future operations, prospects and plans, objectives of management, the anticipated timelines for reporting data from Hemab’s clinical trials, the anticipated timelines for initiating a Phase 3 clinical trial of sutacimig, Hemab’s plans to expand its pipeline, and the sufficiency of Hemab’s cash resources for the period anticipated, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “objective,” “ongoing,” “plan,” “predict,” “project,” “potential,” “should,” or “would,” or the negative of these terms, or other comparable terminology are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Hemab may not actually achieve the plans, intentions or expectations disclosed in these forward-looking statements, and you should not place undue reliance on these forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in these forward-looking statements as a result of various important factors, including: uncertainties inherent in the identification and development of product candidates, including the initiation and completion of preclinical studies and clinical trials; uncertainties as to the availability and timing of results from preclinical studies and clinical trials; the timing of and Hemab’s ability to initiate and enroll patients in clinical trials; whether results from preclinical studies and earlier clinical trials will be predictive of the results of later clinical trials; whether Hemab’s cash resources will be sufficient to fund the Company’s foreseeable and unforeseeable operating expenses and capital expenditure requirements; as well as the risks and uncertainties identified in Hemab’s filings with the Securities and Exchange Commission (SEC), including the Company’s most recent Form 10-Q and in subsequent filings Hemab may make with the SEC. In addition, the forward-looking statements included in this press release represent Hemab’s views as of the date of this press release. Hemab anticipates that subsequent events and developments will cause its views to change. However, while Hemab may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Hemab’s views as of any date subsequent to the date of this press release.
Media:
Deerfield
Peg Rusconi
peg.rusconi@deerfieldgroup.com
Investors:
Hemab Therapeutics
Mads Behrndt
mads@hemab.com
| Hemab Therapeutics Holdings, Inc. Condensed Consolidated Statements of Operations and Comprehensive Loss (In thousands, except share and per share data) (Unaudited) | |||||||
| Three Months Ended March 31, | |||||||
| 2026 | 2025 | ||||||
| Operating expenses | |||||||
| Research and development | $ | 19,461 | $ | 14,101 | |||
| General and administrative | 4,151 | 2,459 | |||||
| Total operating expenses | 23,612 | 16,560 | |||||
| Loss from operations | (23,612 | ) | (16,560 | ) | |||
| Other income (expense), net: | |||||||
| Interest income | 1,219 | 473 | |||||
| Other (expense) income, net | (282 | ) | 591 | ||||
| Total other income, net | 937 | 1,064 | |||||
| Loss before income tax expense | (22,675 | ) | (15,496 | ) | |||
| Income tax (expense) benefit | (12 | ) | 190 | ||||
| Net loss | $ | (22,687 | ) | $ | (15,306 | ) | |
| Net loss per share, basic and diluted | $ | (23.98 | ) | $ | (16.18 | ) | |
| Weighted average ordinary shares outstanding, basic and diluted | 946,000 | 946,000 | |||||
| Other comprehensive (loss) income: | |||||||
| Net loss | (22,687 | ) | (15,306 | ) | |||
| Net unrealized gain (loss) on available-for-sale debt securities | (614 | ) | 974 | ||||
| Total comprehensive loss | $ | (23,301 | ) | $ | (14,332 | ) | |
| Hemab Therapeutics Holdings, Inc. Selected Consolidated Balance Sheets Data (In thousands) (Unaudited) | |||||||
| March 31, | December 31, | ||||||
| 2026 | 2025 | ||||||
| Assets | |||||||
| Cash and cash equivalents | $ | 49,860 | $ | 87,974 | |||
| Marketable securities | 113,671 | 97,511 | |||||
| Prepaid expenses and other current assets | 5,900 | 7,066 | |||||
| Property and equipment, net | 648 | 609 | |||||
| Operating right-of-use assets | 939 | 1,092 | |||||
| Other non-current assets | 4,240 | 531 | |||||
| Total assets | 175,258 | 194,783 | |||||
| Liabilities and stockholders’ deficit | |||||||
| Accounts payable | 5,682 | 5,734 | |||||
| Operating lease liabilities | 544 | 647 | |||||
| Operating lease liabilities, net of current portion | 519 | 573 | |||||
| Accrued expenses and other current liabilities | 6,963 | 4,296 | |||||
| Total liabilities | 13,708 | 11,250 | |||||
| Total convertible preferred stock and convertible preference shares | 360,168 | 360,168 | |||||
| Total stockholders’ deficit | $ | (198,618 | ) | $ | (176,635 | ) | |
| Hemab Therapeutics Holdings, Inc. Selected Consolidated Statements of Cash Flows Data (In thousands) (Unaudited) | |||||||
| Three Months Ended March 31, | |||||||
| 2026 | 2025 | ||||||
| Net cash used in operating activities | (21,584 | ) | (13,033 | ) | |||
| Net cash used in investing activities | (15,847 | ) | (5,994 | ) | |||
| Net cash used in financing activities | (460 | ) | (29 | ) | |||
| Effect of foreign exchange rate changes on cash and cash equivalents | (223 | ) | - | ||||
| Net decrease in cash and cash equivalents | $ | (38,114 | ) | $ | (19,056 | ) | |
