PYC Therapeutics (PYC) H1 2026 earnings summary

Executive summary

• Advanced all four clinical-stage RNA therapeutic programs, including key milestones in PKD, PMS, RP11, and ADOA drug candidates.

• Presented positive safety and efficacy data at major scientific conferences and progressed regulatory engagement for future trials.

• Launched a capital raising of up to $653 million post-period to extend cash runway and fund pipeline advancement.

Financial highlights

• Revenue from ordinary activities decreased 13% to $11.0 million compared to the same period last year.

• Net loss after tax attributable to owners was $22.8 million, down 11% year-over-year.

• Expenditure for the half-year was $34.2 million, a decrease from $38.6 million in the prior period.

• Cash and cash equivalents at 31 December 2025 totaled $120.7 million.

• No dividends were paid, recommended, or declared during the period.

Outlook and guidance

• IND submission for PMS program on track for early 2027.

• Capital raising expected to extend cash runway and support advancement of all four clinical programs through critical efficacy readouts.