Intensity Therapeutics (INTS) Q1 2026 earnings summary

Executive summary

• Cash and cash equivalents were $10.2 million as of March 31, 2026, following recent fundraising and establishment of a $60 million ATM facility.

• Focused on late-stage clinical development of INT230-6, with ongoing Phase 3 and Phase 2 studies in sarcoma and breast cancer, respectively.

• Early data from the INVINCIBLE-4 Study in TNBC showed higher pCR rates and fewer severe adverse events for INT230-6 plus SOC versus SOC alone.

• No revenue generated to date; operations funded primarily through equity and debt offerings.

• Net loss for Q1 2026 was $2.4 million, a decrease from $3.3 million in Q1 2025, reflecting lower R&D expenses due to paused clinical trial enrollment.

Financial highlights

• Q1 2026 operating expenses totaled $2.5 million, down from $3.4 million in Q1 2025, driven by a $1.0 million reduction in R&D costs.

• Research and development expenses decreased to $1.2 million for Q1 2026 from $2.2 million in Q1 2025, mainly due to lower INVINCIBLE-3 Study costs.

• General and administrative expenses increased slightly by $0.1 million, mainly due to bonus accruals and one-time costs related to a reverse stock split.

• Interest income was $94,000 in Q1 2026, up from $15,000 in Q1 2025.

• Net cash used in operating activities was $1.8 million in Q1 2026.

Outlook and guidance

• Plans to resume and expand enrollment in both INVINCIBLE-3 and INVINCIBLE-4 clinical trials in 2026, contingent on additional funding.

• Targeting completion of enrollment for the INVINCIBLE-4 Phase 2 breast cancer study by end of 2027, subject to funding availability.

• Expects to incur significant expenses and operating losses for the foreseeable future as clinical development continues.

• Substantial doubt exists about the ability to continue as a going concern beyond current cash runway without new capital.

• Focus remains on advancing INT230-6 in indications with high unmet medical need.