Damora Therapeutics (DMRA) Q1 2026 earnings summary

Executive summary

• Completed acquisition of Pre-Acquisition Damora, expanding pipeline with three mutCALR-targeting antibody candidates for myeloproliferative neoplasms (MPNs).

• Focused R&D on DMR-001, DMR-002, and DMR-003, with regulatory submissions for DMR-001 and DMR-002 planned for mid and late 2026, respectively.

• Raised $295.5 million in a February 2026 public offering and $29.4 million in May 2026 via ATM program.

• Name changed from Galecto, Inc. to Damora Therapeutics, Inc. in March 2026.

Financial highlights

• Cash and cash equivalents increased to $532.9 million as of March 31, 2026, up from $257.6 million at December 31, 2025.

• Net loss for Q1 2026 was $27.8 million, compared to $2.5 million in Q1 2025.

• Operating expenses rose to $30.8 million in Q1 2026 from $2.6 million in Q1 2025, driven by R&D and G&A increases.

• Research and development expenses were $23.8 million, up from $0.7 million year-over-year, mainly due to Paragon Option Agreement costs and stock-based compensation.

• General and administrative expenses increased to $7.0 million from $1.9 million year-over-year.

• Other income, net, was $3.1 million, primarily from interest income.

Outlook and guidance

• Existing cash and cash equivalents expected to fund operations into 2029.

• Continued negative cash flows from operations anticipated as R&D investment increases.

• Additional capital will be required for future development and commercialization activities.