Benitec Biopharma Inc. (NASDAQ: BNTC) announced its financial results for the first fiscal quarter ended September 30, 2026, alongside an operational update regarding its lead candidate, BB-301. The company reported total expenses of $14.5 million for the quarter, compared to $9.8 million in the prior year period. Research and development expenses increased to $8.6 million from $3.4 million, driven primarily by the clinical development of BB-301. General and administrative expenses were $5.9 million, a decrease from $6.4 million in the prior year. As a result, the company recorded a net loss of $12.9 million for the quarter, or $(0.26) per basic and diluted share, compared to a net loss of $9.0 million, or $(0.22) per share, in the same period last year.
Benitec reported cash and cash equivalents of approximately $176.5 million as of September 30, 2026. The company also disclosed that it plans to change its fiscal year-end from June 30 to December 31, effective immediately. This change is intended to align the company’s reporting cycle with the calendar year. In the interim, the company will report results for a transition period from July 1, 2026, through December 31, 2026, in a Transition Report on Form 10-K.
On the clinical front, Benitec presented positive interim results from the ongoing Phase 1b/2a study of BB-301 at the European Society of Gene and Cell Therapy (ESGCT) Annual Congress in Hamburg, Germany, on October 28, 2026. The data showed a 100% responder rate across all patients in Cohort 1 (low dose) and Cohort 2 (high dose) for the treatment of dysphagic patients with Oculopharyngeal Muscular Dystrophy (OPMD). The company noted that there have been no Serious Adverse Events reported in any patient treated with BB-301 to date. Benitec stated that the pivotal study design is expected to be finalized in the first calendar quarter of 2027, with the trial on track to begin in mid-2027.
