Atrium Therapeutics, Inc. (Nasdaq: RNA) reported its financial results for the third quarter ended September 30, 2026. The company announced that it has dosed the first patient in the Corventis Phase 1/2 clinical trial evaluating ATR 1072 for PRKAG2 syndrome. Additionally, the company disclosed nonclinical data and a private placement that extends its cash runway.
Regarding clinical progress, Atrium stated that the first patient has been dosed in the Corventis trial. Corventis is an open-label, multicenter study designed to evaluate the safety, tolerability, pharmacokinetics, pharmacodynamics, and efficacy of ATR 1072. The trial is expected to enroll approximately 37 participants across two parts: multiple ascending dose cohorts and a single-arm expansion cohort. The company anticipates reporting initial proof of concept data from the trial in the second half of 2027.
In terms of financial performance for the third quarter of 2026, Atrium reported collaboration revenue of $15.3 million. This figure was primarily driven by a $15.0 million milestone earned under a research collaboration and license agreement with Bristol Myers Squibb (BMS). Research and development (R&D) expenses for the quarter were $13.8 million, while general and administrative (G&A) expenses totaled $8.2 million.
As of September 30, 2026, the company reported cash, cash equivalents, and short-term investments of $232.1 million. The company provided a pro-forma cash balance of $293.6 million, which includes the receipt of the $15.0 million milestone payment from BMS and net proceeds from a $50.0 million private placement closed in October. Atrium estimates that this pro-forma cash balance will fund its operations through 2028.
Nonclinical data presented by the company showed that a mouse-specific version of ATR 1072 reversed cardiac glycogen accumulation and reduced measures of hypertrophy, including heart weight and left ventricular wall thickness. Treatment also led to improvements in ECG parameters measuring electrical conduction, specifically the PR interval.
Looking ahead, Atrium outlined several upcoming milestones, including the filing of an IND application in 2027 for ATR 1086, which is being developed for people living with PLN cardiomyopathy. The company also plans to advance two undisclosed pipeline programs for rare cardiomyopathy targets, including selecting the next development candidate in 2027.
