ImageneBio, Inc. (Nasdaq: IMA) reported its financial results for the quarter ended September 30, 2026, and provided an update on its clinical development of olevaprubart (IMG-007). The company reported a net loss of $15.6 million for the three months ended September 30, 2026, compared to a net loss of $24.8 million for the same period in 2025. The net loss per share attributable to common stockholders was $0.91 for the third quarter of 2026, compared to $2.91 for the same period in 2025.
Research and development expenses for the quarter were $11.3 million, a decrease from $15.2 million in the prior year period. General and administrative expenses were $6.0 million, down from $11.0 million in the prior year period. The company reported total operating expenses of $17.3 million for the quarter.
As of September 30, 2026, ImageneBio held $126.6 million in cash, cash equivalents, and marketable securities. The company stated that these resources are expected to be sufficient to fund planned operations into the first quarter of 2028.
Regarding its clinical programs, the company reported that the Phase 2b ADAPTIVE trial and the long-term extension study of olevaprubart in moderate-to-severe atopic dermatitis continue to progress as planned. Topline data from the ADAPTIVE trial is anticipated in the fourth quarter of 2027.
ImageneBio also announced that it is on track to initiate a Phase 2 study of olevaprubart in alopecia areata by the end of 2026, with initial data expected in 2028. The company presented two posters on olevaprubart at the 2026 European Academy of Dermatology and Venereology (EADV) Congress, highlighting biomarker insights and the optimization of the drug’s exposure range.
Regarding safety, the company noted that no cases of Kaposi sarcoma have been observed to date across all clinical trials. The company also highlighted that olevaprubart is a non-T cell-depleting, ADCC-silenced anti-OX40 receptor antagonist with an extended half-life.
