On March 5, 2026 Evogene Ltd. (Nasdaq, TASE: EVGN), a pioneering company in computational chemistry specializing in the generative AI design of small molecules for the pharmaceutical and agricultural industries, reported its financial results for the fourth quarter and full year ended December 31, 2025.

Mr. Ofer Haviv, President & CEO of Evogene, stated: "During 2025, we executed a clear and decisive strategic shift. After a comprehensive review of our technology assets, target markets, and capital allocation priorities, we sharpened our focus to drive sustainable long-term value by concentrating on a single proprietary tech-engine – ChemPass AI- for small-molecule discovery and optimization. We streamlined our operations to focus on two high-impact markets: pharma and agriculture, while discontinuing non-core activities, divesting misaligned assets, resizing the organization, and aligning our business development efforts with this focused strategy. ChemPass AI’s competitive advantage combines two core strengths: generating truly novel molecules and simultaneously optimizing multiple critical parameters from the outset.

Throughout 2025, ChemPass AI was advanced through proprietary internal developments and strategic collaborations with Google Cloud. Our first collaboration delivered a foundation model trained on 38 billion structures, achieving 90% design precision, based on our calculation – approximately tripling our benchmarks for accuracy. A second collaboration, launched in February 2026, integrates AI agents via Google Cloud Vertex AI to automate workflows, reduce manual errors, and further strengthen candidate quality and commercial potential.

Evogene’s offering – our proprietary small-molecule product candidates – combines three unique powerful characteristics: novel molecules representing new and diverse chemical structures; optimized for simultaneous multi-parameters from the earliest design stages; and highly potent compounds refined through targeted experimental validation.

Our business model is built on an integrated, partnership-driven approach that supports both collaborations and the in-house advancement of proprietary candidates. Projects begin with joint strategic alignment and continue through rigorous experimental validation, with partners actively engaged at every stage and programs tailored to specific scientific and commercial objectives.

In pharma, since the second half of 2025, we have advanced multiple partnered drug discovery programs, with ChemPass AI candidates progressing into experimental testing by our partners; four collaborations have been publicly disclosed to date.

In agriculture, AgPlenus applies ChemPass AI to novel herbicide and fungicide development, supported by strategic collaborations with Bayer and Corteva and a differentiated internal pipeline, positioning us for continued growth."

Mr. Haviv continued: "As part of our focused strategy, we discontinued non-core activities, divested misaligned assets, and resized the organization. During 2025, Lavie Bio was acquired by ICL. In early 2026, Biomica licensed its lead oncology candidate, BMC128, to Lishan Pharmaceuticals. No additional activity is expected from these companies. At the same time, Evogene has retained select activities with meaningful value potential that are not at the core of our new strategy, including Casterra, and intends to continue supporting these activities until their full potential is realized.

Looking ahead, the advancement of proprietary small-molecule product candidates is at the heart of Evogene’s mission. Supported by ChemPass AI, our differentiated generative AI tech-engine, disciplined capital allocation across two high-potential markets, and strong strategic partnerships, we believe Evogene is well-positioned on a clearly defined and focused path toward sustainable long-term value creation."

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

Financial Highlights:

●
As part of the Company’s updated strategic plan, management implemented an organizational realignment and cost-reduction initiative. The effects of these measures are reflected in the significant decrease in operating expenses, net, which declined to approximately $13.8 million for the year ended 2025, compared to approximately $22.0 million in 2024. The impact is also evident in the fourth-quarter results, with total operating expenses, net, of approximately $3.2 million, compared to approximately $4.3 million in the corresponding period of 2024. The Company expects this reduced expense level to be sustained in future periods.

●
In 2025, Lavie Bio, our subsidiary focused on agricultural biologicals, completed the sale of the majority of its operations to ICL Group Ltd. As a result of this transaction, Lavie Bio no longer maintains employees, and its operating expense level has decreased significantly. Lavie Bio anticipates distributing the majority of its remaining cash to its shareholders, including Evogene, during 2026.

●
During 2025, as part of the Company’s updated strategic plan, we scaled down Biomica’s operations and research and development activities and reduced its personnel to a minimal level. In early 2026, Biomica entered into a license agreement with Lishan Pharmaceuticals for its lead oncology candidate, BMC128. Following this transaction, Biomica does not expect to conduct further material operational activities and anticipates distributing the majority of its remaining cash to its shareholders, including Evogene.

●
With respect to AgPlenus, we integrated AgPlenus, our ag-chemical subsidiary, into our core operations, with the objective of maximizing the value of our ChemPass AI platform for the development of novel ag-chemical products. In alignment with the Company’s updated organizational structure, AgPlenus was resized and streamlined to reflect the revised operating model.

●
During 2025, due to a significant decline in demand for castor seeds, Casterra Ag ceased its operations in Kenya, reduced its headcount and overall expense level, and is currently focusing its activities on the Brazilian market. As a result of these developments, Casterra recorded an impairment of approximately $2.2 million related to its seed inventory. This impairment is presented within Cost of Sales in the consolidated financial statements in a separate line item.

●
In February 2026, we entered into a warrant inducement agreement with an existing investor providing for the immediate exercise in full of its August 2024 Series A and Series B warrants, resulting in gross proceeds to the Company of approximately $3.4 million, before deduction of placement agent fees and other offering expenses. In consideration for such exercise, the investor will receive, in a private placement, new unregistered Series A-1 and Series B-1 warrants to purchase up to an aggregate of 5,076,924 ordinary shares. The new warrants are exercisable immediately at an exercise price of $1.25 per ordinary share.

Financial reports:

Cash Position – As of December 31, 2025, Evogene held consolidated cash, cash equivalents, and short-term bank deposits of approximately $13.0 million. The consolidated cash usage during the fourth quarter of 2025 was approximately $3.0 million. Excluding Lavie Bio and Biomica, Evogene and its other subsidiaries used approximately $2.4 million in cash during the fourth quarter of 2025.

Revenues for 2025 totaled approximately $3.9 million, compared to approximately $5.6 million in the same period the previous year, reflecting a decrease of approximately $1.7 million. The decrease was primarily driven by lower revenue recognized from AgPlenus’ activity, which included one-time payment during the first quarter of 2024 and revenues recognized from the collaboration agreement with Corteva, that was completed during 2024. Revenues for the fourth quarter of 2025 were approximately $0.3 million; a decrease compared to approximately $1.5 million in the same period last year. The decrease was mainly due to reduced seed sales generated by Casterra during the fourth quarter of 2025.

Cost of Revenues for the year ending 2025 was approximately $4.1 million, compared to approximately $2.4 million in the previous year. The increase was primarily attributable to an inventory impairment of approximately $2.2 million recorded by Casterra during the fourth quarter of 2025 mainly due to its decision to cease its operations in Kenya as noted above. Cost of revenues for the fourth quarter of 2025 was $2.3 million, compared to $0.7 million in the fourth quarter of the previous year. The increase in quarterly cost of revenues was mainly driven by the same inventory impairment of Casterra as noted above.

R&D Expenses, net of non-refundable grants, for the year 2025 were approximately $8.0 million, a decrease of approximately $4.5 million compared to $12.5 million in the year 2024. The decrease was primarily due to reduced R&D expenses in Biomica, Casterra and AgPlenus. In the fourth quarter of 2025, R&D expenses were approximately $1.8 million, down from approximately $2.7 million in the same period of 2024. This decrease is mainly attributed to decreased expenses in Biomica.

Sales and Marketing Expenses for the year 2025 were approximately $1.5 million, a decrease of approximately $0.5 million compared to approximately $2.0 million in the same period last year. The decrease was mainly due to reductions in Evogene and Biomica personnel costs. Sales and marketing expenses for the fourth quarters of 2025 and 2024 were approximately $0.3 million and $0.4 million, respectively.

General and Administrative Expenses for the year 2025 decreased to approximately $4.3 million from approximately $7.0 million in the same period last year. This decrease is mainly attributable to expenses recorded during the year 2024 related to a provision for doubtful debt for one of Casterra’s seed suppliers as well as transaction costs associated with Evogene’s fundraising in August 2024. Additional decrease is attributable to a reduction in Biomica’s activities and personnel costs during 2025. General and administrative expenses for the fourth quarter of 2025 decreased to approximately $0.9 million compared to approximately $1.3 million in the same period of the previous year, primarily due to decreased expenses in Evogene and Biomica, as mentioned above.

Other Expenses, net of approximately $37 thousand were recorded in 2025 mainly due to the impairment of fixed assets associated with the reduction in Biomica’s activities, partially offset by income recognized in the first quarter of 2025 related to the accounting treatment of Evogene’s sub-lease agreement. The decision to cease Canonic’s operations in the first half of 2024 resulted in other expenses of approximately $0.5 million, primarily due to the impairment of fixed assets.

Operating Loss for 2025 was approximately $14.0 million, a significant decrease from approximately $18.8 million in the same period of the previous year, mainly due to decreased operating expenses, partially offset by the decreased revenues as mentioned above and the higher cost of revenues, mainly due to an inventory impairment of approximately $2.2 million recorded by Casterra, in the fourth quarter of 2025. The operating loss for the fourth quarter of 2025 was approximately $5.2 million, an increase from approximately $3.5 million in the same period of the previous year, primarily due to the decreased revenues and increased cost of revenues, mentioned above, partially offset by decreased operating expenses.

Financing Income, net for the year 2025 was approximately $0.6 million, compared to approximately $4.0 million in the previous year. The decrease in financing income, net was mainly associated with accounting treatment of pre-funded warrants and warrants issued in August 2024 fund raising. As a result, during the twelve months of 2025 the Company recorded financial income, net, related to pre-funded warrants and warrants of approximately $458 thousand as compared to a financial income of approximately $3.4 million in same period of 2024. Financing expenses, net, for the fourth quarter of 2025 were approximately $0.2 million, compared to financing income, net of approximately $4.5 million in the same period of the previous year. The decrease in financing income is mainly associated with accounting treatment of pre-funded warrants and warrants issued in the August 2024 fund raising as mentioned above.

Income from Discontinued Operations, net for the twelve months of 2025 was approximately $5.7 million, compared to a loss of approximately $3.2 million in the same period of 2024. For the fourth quarter of 2025, loss from discontinued operations, net was approximately $16 thousand, compared to a loss of approximately $1.0 million in the fourth quarter of the previous year. These amounts primarily reflect the financial results of Lavie Bio’s operations as well as expenses related to the development and maintenance of MicroBoost AI for Ag, which are presented as a single-line item in the consolidated statements of profit and loss. Following the sale of the majority of Lavie Bio’s assets as well as Evogene’s MicroBoost AI for Ag to ICL, the Company recognized a gain on sale of approximately $6.4 million which is also included in the income (loss) from discontinued operations, net, for the year of 2025. All prior period amounts have been reclassified to conform to this presentation.

Net loss for the twelve months of 2025 was approximately $7.8 million, compared to approximately $18.1 million in the same period last year. The $10.3 million decrease in net loss was primarily due to decreased operating expenses and an income derived from discontinued operations due to the asset sale to ICL, net, partially offset by reduced revenues, higher cost of revenues and a decreased financing income, net. The net loss for the fourth quarter of 2025 was approximately $5.4 million, compared to net loss of approximately $5 thousand in the same period last year. This increase in net loss was primarily due to decreased financial income, net, decreased revenues, and increased cost of revenues, partially offset by decreased operating expenses, as mentioned above.

(Press release, Evogene, MAR 5, 2026, View Source [SID1234663298])

On March 5, 2026 BridgeBio Oncology Therapeutics, Inc. ("BBOT") (Nasdaq: BBOT), a clinical-stage biopharmaceutical company focused on RAS-pathway malignancies, reported financial results for the fourth quarter and full year ended December 31, 2025, and provided a business update, including highlights of pipeline progress.

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

BBOT’s portfolio of clinical-stage RAS-pathway inhibitors is designed to enable direct dual inhibition of KRAS in both its ON and OFF states, panKRAS coverage across major KRAS mutations, and disruption of RAS:PI3Kα activation. Together, these assets uniquely position BBOT to achieve safe, concurrent, high-level suppression of both the MAPK and PI3Kα pathways through a wholly owned internal combination strategy.

"2025 was a transformational year for BBOT as we debuted as a public company and advanced all three of our internally discovered RAS and PI3Kα programs into clinical development," said Eli Wallace, PhD, Chief Executive Officer of BBOT. "The preliminary safety and antitumor data across BBO-8520, BBO-11818, and BBO-10203 are consistent with a differentiated therapeutic index profile and reinforce the combination thesis underlying our portfolio. We believe we are uniquely positioned to pursue concurrent suppression of both the MAPK and PI3Kα pathways — a strategy made possible by our wholly owned, internally designed platform, which we do not believe exists elsewhere in the industry. With multiple data readouts expected in the second half of 2026 and cash runway into 2028, we remain focused on generating the data that demonstrate what this portfolio can do."

Key Clinical Highlights & Upcoming Milestones

BBO-8520: An orally bioavailable small molecule direct inhibitor targeting both the ON and OFF states of KRAS. BBO-8520 combined with pembrolizumab at active dose levels demonstrated antitumor activity with a potentially differentiated liver toxicity profile, a profile not previously observed with OFF inhibitors.

On January 9, 2025, BBOT announced the U.S. Food and Drug Administration ("FDA") granted Fast Track designation to BBO-8520 for the treatment of adult patients with previously treated, KRASG12C mutated metastatic non-small cell lung cancer (NSCLC).
On January 7, 2026, BBOT announced new clinical data from the ongoing Phase 1 ONKORAS-101 trial (NCT06343402).
As of November 15, 2025, BBO-8520 monotherapy in patients with KRASG12C NSCLC showed a 65% objective response rate (ORR) and a 68% 6-month progression-free survival (PFS), with 83% of patients eligible for 6-month follow-up remaining on treatment for ≥6 months, alongside a potentially differentiated safety profile.
Encouraging early efficacy signals were seen in patients with KRASG12C and STK11 and/or KEAP1 co-mutants, where all five initial patients achieved partial response (PR).
BBO-8520 in combination with pembrolizumab, at active dose levels, demonstrated promising efficacy data and a distinct safety profile, including a potentially differentiated liver toxicity profile.
Updated clinical data are expected in the second half of 2026 and internal combination with BBO-10203 is anticipated to open later in 2026.
BBO-11818: An orally bioavailable small molecule panKRAS inhibitor that targets mutant KRAS in both the ON and OFF states. BBO-11818 demonstrated a confirmed PR in a patient with pancreatic ductal adenocarcinoma (PDAC) — the first clinically confirmed monotherapy panKRAS response in pancreatic cancer — alongside additional tumor reductions at higher dose levels and no dose-limiting toxicities.

On April 1, 2025, BBOT announced that the first patient was dosed with BBO-11818 in the ongoing Phase 1 KONQUER-101 trial (NCT06917079) for advanced solid tumors.
On October 23, 2025, BBOT presented preclinical data at the 2025 AACR (Free AACR Whitepaper)-NCI-EORTC AACR-NCI-EORTC (Free AACR-NCI-EORTC Whitepaper) International Conference on Molecular Targets and Cancer Therapeutics (EORTC-NCI-AACR) (Free ASGCT Whitepaper) (Free EORTC-NCI-AACR Whitepaper). The preclinical data demonstrated the potential of BBO-11818 as a potent panKRAS inhibitor targeting mutant KRAS in both the ON and OFF states, with selectivity over HRAS and NRAS.
On January 7, 2026, BBOT announced preliminary clinical data. BBO-11818 demonstrated encouraging early anti-tumor activity across dose levels and tumor types, including a partial response (PR) in a patient with PDAC with a 56% tumor reduction. The response was unconfirmed at the time of data cutoff but was subsequently confirmed. BBO-11818 monotherapy appeared generally tolerable with no dose-limiting toxicities (DLTs).
Updated clinical data are expected in the second half of 2026. Combination with BBO-10203 is anticipated to open later in 2026.
BBO-10203: An orally bioavailable small molecule with a novel mechanism of action designed to block the physical interaction between RAS and PI3Kα, inhibiting RAS-driven PI3Kα-AKT signaling in tumors. BBO-10203 achieved full target engagement at pharmacologically active exposures with no observed hyperglycemia and no baseline HbA1c or glucose restrictions.

On June 12, 2025, BBOT announced the publication of preclinical data supporting the potential for BBO-10203 to provide therapeutic benefit across multiple tumor types. The publication, titled "BBO-10203 inhibits tumor growth without inducing hyperglycemia by blocking RAS-PI3Kα interaction" was published in the peer-reviewed journal Science.
On October 25, 2025, BBOT presented preclinical data at the 2025 AACR (Free AACR Whitepaper)-NCI-EORTC AACR-NCI-EORTC (Free AACR-NCI-EORTC Whitepaper) International Conference on Molecular Targets and Cancer Therapeutics (EORTC-NCI-AACR) (Free ASGCT Whitepaper) (Free EORTC-NCI-AACR Whitepaper). Preclinical data showed BBO-10203 blocked RAS-mediated activation of PI3Kα and strongly inhibited pAKT signaling in tumor cells without affecting glucose metabolism. Robust monotherapy activity, as well as combination activity with BBO-8520 and BBO-11818, was observed at well-tolerated dose levels in a panel of KRAS mutant models.
On December 10, 2025, BBOT announced late-breaking preclinical data at the San Antonio Breast Cancer Symposium (SABCS). Preclinical data demonstrated BBO-10203 blocked RAS-mediated activation of PI3Kα, strongly inhibited pAKT signaling in tumor cells without inducing hyperglycemia, and showed robust anti-tumor activity both as monotherapy and in combination with standard of care (SOC) therapies in mutant or wild-type PIK3CA breast cancer models.
On January 7, 2026, BBOT announced preliminary clinical data from the ongoing Phase 1 BREAKER-101 trial (NCT06625775).
BBO-10203 demonstrated a differentiated safety profile with no hyperglycemia in patients without restrictions on baseline HbA1c and glucose levels.
In addition, BBO-10203 achieved target systemic exposure and rapid full target engagement.
Clinical benefit was observed in patients with colorectal cancer (CRC) (>80% 3L+) and hormone receptor positive breast cancer (HR+ BC) who were previously heavily treated and tumor reductions were observed in some patients.
Updated clinical data are expected in the second half of 2026 and internal combinations, including with BBO-8520 and BBO-11818, are anticipated to open later in 2026.
Other Key Corporate Updates

On August 11, 2025, BBOT announced the closing of its previously announced business combination with Helix Acquisition Corp. II (formerly Nasdaq: HLXB) ("Helix"), a special purpose acquisition company ("SPAC") sponsored by affiliates of Cormorant Asset Management, LP. On August 12, 2025, BBOT began trading under the new ticker symbol "BBOT" on the Nasdaq Global Market.
Fourth Quarter 2025 Financial Results

Cash Position: As of December 31, 2025, BBOT had cash, cash equivalents and marketable securities totaling $425.5 million, which is expected to provide cash runway into 2028.
Research and development (R&D) expenses: R&D expenses were $38.1 million for the fourth quarter of 2025 compared to $19.5 million for the fourth quarter of 2024. The increase in expenses was primarily due to increases in clinical trial expenses and manufacturing expenses for BBO-8520, BBO-11818, and BBO-10203.
General and administrative (G&A) expenses: G&A expenses were $5.3 million for the fourth quarter of 2025 compared to $2.3 million for the fourth quarter of 2024. Changes in G&A expenses reflect the initiation of BBOT’s standalone operations and de-SPAC transaction.
Net Loss: Net loss was $38.8 million for the fourth quarter of 2025 compared to $19.7 million for the fourth quarter of 2024.
Full Year 2025 Financial Results

Research and development (R&D) expenses: R&D expenses were $121.2 million for the year ended December 31, 2025 compared to $73.1 million for the year ended December 31, 2024. The increase in expenses was primarily due to increases in clinical trial expenses and manufacturing expenses for BBO-8520, BBO-11818, and BBO-10203.
General and administrative (G&A) expenses: G&A expenses were $24.6 million for the year ended December 31, 2025 compared to $7.8 million for the year ended December 31, 2024. Changes in G&A expenses reflect the initiation of BBOT’s standalone operations and de-SPAC transaction.
Net Loss: Net loss was $134.0 million for the year ended 2025 compared to $74.3 million for the year ended 2024.

(Press release, BridgeBio Oncology Therapeutics, MAR 5, 2026, View Source [SID1234663316])

On March 5, 2026 Immatics N.V. (NASDAQ: IMTX, "Immatics" or the "Company"), a clinical-stage biopharmaceutical company and the global leader in precision targeting of PRAME, reported a business update and announced financial results for the quarter and full year ended December 31, 2025.

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

"Following a year of strong execution and data updates across our entire PRAME franchise, Immatics is entering 2026 with multiple high-impact milestones ahead, including advancing our PRAME cell therapy, anzu-cel, towards approval," said Harpreet Singh, Ph.D., Chief Executive Officer and Co-Founder of Immatics. "In parallel, we strive to expand our reach to more patients with our second-generation PRAME cell therapy, IMA203CD8, with meaningful data in gynecologic cancers expected this year, and with our PRAME bispecific IMA402, where we plan to report expanded clinical data supporting initiation of indication-specific expansion cohorts. In addition, we look forward to opening a new therapeutic avenue by initiating a combination study with IMA402 and IMA401, our MAGEA4/8 bispecific, in lung cancer. Above all, we remain focused on translating this positive momentum into transformative outcomes for patients with cancer."

Full Year 2025 and Subsequent Company Progress

PRAME Franchise – Cell Therapy

Anzu-cel (IMA203) PRAME Cell Therapy – First Market Entry in Advanced Melanoma
Anzu-cel (anzutresgene autoleucel), previously called IMA203, is Immatics’ lead PRAME cell therapy and is expected to be the Company’s first PRAME therapy to enter the market in advanced melanoma. The current addressable patient population for anzu-cel’s first target indications, second-line or later (2L) advanced cutaneous melanoma as well as metastatic uveal melanoma includes ~9,000 patients2.

Anzu-cel received Orphan Drug Designation as well as RMAT designation3 from the U.S. Food and Drug Administration (FDA) for the treatment of both cutaneous and uveal melanoma.

Phase 3 trial, SUPRAME, for anzu-cel (IMA203) in previously treated, advanced cutaneous melanoma

Immatics’ global, randomized, controlled, multi-center Phase 3 clinical trial, SUPRAME, is currently ongoing to evaluate the efficacy, safety and tolerability of anzu-cel PRAME cell therapy as monotherapy vs. investigator’s choice in patients with unresectable or metastatic cutaneous melanoma who have received prior treatment with a PD-1 immune checkpoint inhibitor.
SUPRAME is designed to be an adequate and well-controlled clinical trial intended to generate robust data to support regulatory approval of anzu-cel as Immatics advances this PRAME cell therapy.
Primary endpoint for seeking full approval is blinded independent central review ("BICR")-assessed (RECIST v1.1) progression-free survival (PFS). Secondary endpoints include overall survival (OS), objective response rate (ORR), safety and patient-reported outcomes measuring quality of life.
SUPRAME timelines remain unchanged. Pre-specified interim and final data analyses will be triggered upon the occurrence of a defined number of events for PFS (progressive disease or death). Interim and final analyses remain expected to be triggered in 2026 as planned, given current strong enrollment rate. As communicated previously and in line with general FDA guidance, data from the interim analysis is not intended to be published to protect the integrity of the clinical trial as long as enrollment remains ongoing.
The Company continues to expect BLA submission in the first half of 2027 and commercial launch of anzu-cel in the second half of 2027.
Patient recruitment is currently ongoing in North America and Europe.
Phase 1/2 trial for anzu-cel (IMA203) PRAME cell therapy in patients with advanced melanoma

Phase 1b data in patients with advanced melanoma were published at ASCO (Free ASCO Whitepaper) 2025 and a subset analysis in uveal melanoma was published at ESMO (Free ESMO Whitepaper) 2025, both showing favorable tolerability and strong clinical benefit of anzu-cel one-time infusion.
A Phase 2 cohort to treat approximately 30 additional metastatic uveal melanoma patients is ongoing and being conducted at select centers in the U.S. and Germany with expertise in uveal melanoma.
Data from the ongoing single-arm Phase 1b as well as Phase 2 trial in metastatic uveal melanoma are intended to support a potential label expansion for anzu-cel.
The next data update from the Phase 1/2 trial with ongoing follow-up of patients with cutaneous and uveal melanoma is planned for 2026.
Phase 1 combination trial for anzu-cel (IMA203) PRAME cell therapy and Moderna’s PRAME cell therapy enhancer, mRNA-4203, in patients with solid tumors

First patient dosed in Phase 1 dose escalation trial in 3Q 2025; the combination treatment has the potential to further enhance anti-tumor activity of anzu-cel, strengthen clinical outcomes and broaden the addressable patient population.
Each party retains full ownership of its investigational PRAME compound, and the parties fund the clinical study on a cost-sharing basis.
IMA203CD8 PRAME Cell Therapy (GEN2) – Expansion to all Advanced PRAME Cancers
IMA203CD8 is the Company’s second-generation PRAME cell therapy product candidate being developed with the goal of expanding into all advanced PRAME cancers. Given its enhanced pharmacology profile, once the target dose is reached, the Company intends to pursue the clinical development of this product candidate with a tumor-agnostic approach, starting with gynecologic cancers.

Updated Phase 1a dose escalation data presented at ESMO (Free ESMO Whitepaper)-IO 2025 Congress showed manageable tolerability as well as promising initial anti-tumor activity in PRAME-positive tumors at low median dose, including proof-of-concept data in ovarian carcinoma.
Results could support the positioning of IMA203CD8 to treat patients with PRAME cancers without post-infusion IL-2.
Immatics plans to present Phase 1a data with a focus on ovarian cancer at relevant doses at a major medical conference in the first half of 2026.
The Company is on track to complete Phase 1a dose escalation and determine recommended Phase 2 dose (RP2D) in 2026.
PRAME Franchise – Bispecifics

IMA402 PRAME Bispecific – Expansion to Earlier-Line PRAME Cancers

To expand the PRAME opportunity to earlier-line PRAME cancers, the Company is developing its off-the-shelf, next-generation, half-life extended TCR bispecific, IMA402, as a monotherapy or in combination with standard of care, with a focus on melanoma and gynecologic cancers. In addition, Immatics is exploring the potential combination of IMA402 with IMA401 MAGEA4/8 bispecific in squamous non-small cell lung cancer (sqNSCLC) and potentially other solid tumor indications.

In November 2025, Immatics announced clinical proof-of-concept for its IMA402 PRAME bispecific with updated data from the Phase 1a dose escalation trial in heavily pre-treated patients with solid tumors, including melanoma and ovarian cancer.
Immatics expects to determine the final RP2D and present a clinical data update from a larger patient population with a focus on melanoma and gynecologic cancers treated with IMA402 monotherapy or combination with an immune checkpoint inhibitor in the second half of 2026. Based thereon, the Company may seek to convert existing Phase 1b cohorts into Phase 2 trials, which may have the potential to become registration-enabling. As part of its strategy to maximize the IMA402 opportunity, the Company also plans to initiate additional Phase 1b cohorts in 2026 to determine the monotherapy and combination potential of IMA402 with immune checkpoint inhibitors and standard of care in late as well as earlier treatment lines.
Based on the initial promising activity of IMA401 in head and neck cancer and sqNSCLC, Immatics is well-positioned to assess the synergistic potential of combining two different bispecifics, IMA402 targeting PRAME and IMA401 targeting MAGEA4/8, with and without a checkpoint inhibitor. The IMA402/IMA401 combination trial in sqNSCLC is expected to commence in 2026.

IMA401 MAGEA4/8 Bispecific – Maximizing the Potential of Bispecifics Combinations

In November 2025, Immatics presented clinical proof-of-concept data from the Phase 1a dose escalation trial evaluating IMA401 MAGEA4/8 bispecific as monotherapy or in combination with an immune checkpoint inhibitor in heavily pre-treated patients with solid tumors, including head and neck cancer and sqNSCLC.
The Company plans to present updated Phase 1a data at a major medical conference in the first half of 2026.
Consistent with Immatics’ focus on advancing its PRAME franchise, the Company is exploring IMA401 in combination with IMA402, starting with sqNSCLC.

Moderna Collaboration Expansion – TCER Multiplexing Strategy

In December 2025, Moderna decided to advance the first mRNA-based TCER product candidate from the existing collaboration with Immatics into clinical development.
This TCER, in-licensed by Moderna, is directed against an undisclosed Immatics proprietary target and is encoded in Moderna’s proprietary mRNA delivery system enabling in vivo production of the TCER molecule by the patient’s own body.
This collaboration aims to generate proof-of-principle data for the in vivo production of TCER molecules, potentially supporting a broader multiplex approach targeting multiple solid tumors.
This expansion of the collaboration triggered a milestone payment of $5 million to Immatics in January 2026. Immatics will conduct the Phase 1 trial, with all associated costs fully reimbursed by Moderna.
Corporate Developments

Chief Financial Officer Appointment: On October 1, 2025, Immatics announced the appointment of Venkat Ramanan, Ph.D., as Chief Financial Officer.
Chief People Officer Appointment: On October 27, 2025, Immatics announced the appointment of Amie Krause as Chief People Officer.
Full Year 2025 Financial Results

Cash Position: Cash and cash equivalents, as well as other financial assets, total $551.4 million1 (€469.3 million) as of December 31, 2025, compared to $710.3 million1 (€604.5 million) as of December 31, 2024. The decrease is mainly due to $234.9 million (€199.9 million) operational cash usage, principally as a result of ongoing research and development activities, as well as unrealized foreign exchange translational losses of $41.8 million1 (€35.6 million), which do not impact the expected cash reach, partially offset by the net proceeds of the public offering of $117.9 million1 (€100.3 million).

Revenue: Total revenue, consisting of revenue from collaboration agreements, was $56.8 million1 (€48.3 million) for the year ended December 31, 2025, compared to $183.1 million1 (€155.8 million) for the year ended December 31, 2024. The decrease is mainly the result of the one-time non-cash revenue associated with the acceleration of deferred revenue recognized due to the termination of the IMA401 and ACTallo collaborations by Bristol Myers Squibb during the year ended December 31, 2024.

Research and Development Expenses: R&D expenses were $216.0 million1 (€183.8 million) for the year ended December 31, 2025, compared to $174.0 million1 (€148.1 million) for the year ended December 31, 2024. The increase mainly resulted from costs associated with the advancement of the product candidates in clinical trials.

General and Administrative Expenses: G&A expenses were $60.2 million1 (€51.2 million) for the year ended December 31, 2025, compared to $54.5 million1 (€46.4 million) for the year ended December 31, 2024. The increase is driven by costs associated with early commercial activities supporting the planned market launch of anzu-cel (IMA203).

Net Profit and Loss: Net loss was $230.8 million1 (€196.4 million) for the year ended December 31, 2025, compared to a net profit of $17.9 million1 (€15.2 million) for the year ended December 31, 2024. The net loss mainly resulted from lower non-cash revenue recognized from the acceleration of deferred revenue recognized due to the termination of the collaboration agreements in the year ended December 31, 2024, and higher costs associated with the planned advancement of the Company’s PRAME franchise in clinical trials.

Full financial statements can be found in our Annual Report on Form 20-F filed with the Securities and Exchange Commission (SEC) on March 5, 2026, and published on the SEC website under www.sec.gov.

Upcoming Investor Conferences

Leerink Global Healthcare Conference, Miami, Florida, USA – March 8 – 11, 2026
Jefferies "Biotech by the Beach" Summit 2026, Miami, Florida, USA – March 10 – 11, 2026
To see the full list of events and presentations, visit: View Source

About PRAME
PRAME is a target expressed in more than 50 cancers. Immatics is the global leader in precision targeting of PRAME and has the broadest PRAME franchise with the most PRAME indications and modalities. The Immatics PRAME franchise currently includes three product candidates, two therapeutic modalities and two combination therapies that target PRAME: anzu-cel (anzutresgene autoleucel, IMA203) PRAME cell therapy, IMA203CD8 PRAME cell therapy (GEN2), IMA402 PRAME bispecific as monotherapy and in combination with an immune checkpoint inhibitor, as well as anzu-cel in combination with Moderna’s PRAME cell therapy enhancer.

(Press release, Immatics, MAR 5, 2026, View Source [SID1234663299])

On March 5, 2026 Quanta Therapeutics, a privately held, clinical-stage biopharmaceutical company leading the development of innovative oral therapeutics for RAS-driven cancers, reported the presentation of data demonstrating its oral multi-KRAS inhibitors, G12D-preferring QTX3034 and G12V-preferring QTX3544, retain potent activity in the presence of known and novel mechanisms acquired from treatment with the pan-RAS(ON) tri-complex inhibitor, daraxonrasib. The presentation will be given at the AACR (Free AACR Whitepaper) Special Conference in Cancer Research: RAS Oncogenesis and Therapeutics being held March 5-8, 2026, in Los Angeles, California.

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

"While pan-RAS tri-complex inhibitors have demonstrated a broad potential to treat various KRAS-driven cancers, acquired resistance mechanisms have limited the depth and durability of clinical benefit, particularly with heterogeneous tumors such as colorectal cancer," said Cameron Pitt, PhD, Co-Founder and Chief Operating Officer of Quanta Therapeutics. "Our data confirm previously reported resistance pathways, identify novel mutations uniquely associated with this class of therapies and demonstrate the ability of our drug candidates to overcome key tri-complex inhibitor resistance mechanisms."

Pitt added, "As the field continues to evolve, patients with KRAS-mutated cancers will require multiple distinct drug mechanisms to combat the propensity for RAS reactivation. Studies like this deepen our understanding of resistance biology and can inform strategies to optimize patient outcomes. Supported by encouraging clinical data to date, along with these new preclinical findings, we believe our approach to direct KRAS inhibition may provide a valuable therapeutic option for KRAS-mutant cancer patients with diverse treatment histories including a prior tri-complex inhibitor."

AACR-RAS presentation information:
Title: Resistance to the pan-RAS(ON) tri-complex inhibitor daraxonrasib is overcome by direct multi- KRAS inhibitors, QTX3034 and QTX3544.
Date and Time: Saturday, March 7, 2026; 11:45 am – 12:15 pm
Session Name: Poster Session B
Abstract Number: B033

(Press release, Quanta Therapeutics, MAR 5, 2026, View Source [SID1234663317])

On March 5, 2026 Kura Oncology, Inc. (Nasdaq: KURA), a biopharmaceutical company focused on precision medicines for cancer, reported fourth quarter and full year 2025 financial results and provided a corporate update.

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

"We are encouraged by the early launch trajectory of KOMZIFTI and the positive feedback from physicians, pharmacists and payers on its differentiated clinical profile," said Troy Wilson, Ph.D., J.D., President and Chief Executive Officer of Kura Oncology. "With a compelling combination of efficacy, safety, compatibility, and simplicity, we believe KOMZIFTI is well positioned to lead in R/R NPM1-mutated AML. In 2026, we expect multiple clinical milestones in the combination and frontline settings that could significantly broaden the opportunity for ziftomenib across the AML treatment continuum. In addition, our solid tumor programs, including ziftomenib in gastrointestinal tumors and darlifarnib in both renal cell carcinoma and KRASG12C-mutated solid tumors, continue to advance, representing a potential addressable population of more than 200,000 patients. Importantly, our strong balance sheet, bolstered by anticipated collaboration milestones, provides the capital required to reach key value-inflecting frontline Phase 3 data and advance our next wave of novel therapies."

2025 Highlights and Recent Developments

KOMZIFTI Commercial Launch

Granted full approval by the U.S Food and Drug Administration (FDA) for adult patients with relapsed or refractory (R/R) acute myeloid leukemia (AML) with a susceptible NPM1 mutation who have no satisfactory alternative treatment options. KOMZIFTI is the first and only once-daily, oral menin inhibitor approved for R/R NPM1-mutant (NPM1-m) AML.
Generated $2.1 million in net product revenue in the fourth quarter of 2025, based on approximately five weeks of commercial sales following November 13 approval.
Added to the National Comprehensive Cancer Network (NCCN) Clinical Practice Guidelines in Oncology (NCCN Guidelines) as a Category 2A recommended treatment option for adults with R/R NPM1-m AML.
Delivered product in channel within five business days of FDA approval, triggering a $135 million milestone payment from Kyowa Kirin.
Received rapid payer coverage within the first 90 days – approximately 80% of private payers had established published coverage policies, all aligned with the label with no additional restrictions.
Added to the FDA Orange Book, with listed patents extending up to July 2044, which support long-term market exclusivity in the United States.
Advancing Ziftomenib Across the AML Treatment Continuum

Initiated pivotal KOMET-017 Phase 3 frontline trials evaluating ziftomenib in combination with intensive and non-intensive chemotherapy in patients with NPM1-m or KMT2A-rearranged (KMT2A-r) AML in the frontline setting. Received two $30 million milestone payments from Kyowa Kirin in connection with first patient dosing in each of the two Phase 3 trials.
Presented positive Phase 1a/1b KOMET-007 (NCT05735184) data at ASH (Free ASH Whitepaper) 2025 demonstrating a favorable safety profile and encouraging antileukemic activity for ziftomenib in combination with venetoclax and azacitidine (ven/aza) in newly diagnosed NPM1-m AML as well as patients with R/R NPM1-m or KMT2A-r AML.
Dosed the first patient in the FLT3 inhibitor cohort of KOMET-007 trial evaluating ziftomenib combined with quizartinib plus cytarabine and daunorubicin (7+3) induction chemotherapy in patients with newly diagnosed AML harboring FLT3-ITD/NPM1 co-mutations.
Solid Tumor Pipeline Progress

Initiated Phase 1b dose expansion in the FIT-001 trial evaluating darlifarnib plus cabozantinib in advanced renal cell carcinoma (RCC).
Presented preclinical and preliminary clinical data at ESMO (Free ESMO Whitepaper) 2025 highlighting the potential of darlifarnib to enhance the anti-tumor activity of PI3Kα inhibitors, KRAS inhibitors, and antiangiogenic tyrosine kinase inhibitors across multiple solid tumor indications.
2026 Strategic Priorities and Anticipated Milestones

Kura expects 2026 to be a data-rich year with multiple potential value inflection points:

KOMZIFTI Commercial Execution

Establish clear differentiation in the menin inhibitor class
Deliver strong quarter-over-quarter growth in revenue and adoption
Achieve leading class share in R/R NPM1-m AML setting
Ziftomenib – Development in Frontline AML

Continue enrollment in the pivotal KOMET-017 Phase 3 trials
Present updated KOMET-007 data for ziftomenib plus 7+3 in frontline NPM1-m/KMT2A-r AML (1H 2026)
Advance enrollment of KOMET-007 cohort for ziftomenib, quizartinib, and 7+3 quadruplet combination in frontline NPM1-m/FLT3-ITD AML
Ziftomenib – Development in R/R AML

Publish data for ziftomenib plus ven/aza in R/R NPM1-m AML (1H 2026)
Present preliminary KOMET-008 data for ziftomenib and gilteritinib combination in R/R NPM1-m/FLT3-m AML (2H 2026)
Ziftomenib and Menin Inhibition – Expansion into Solid Tumors

Advance enrollment of KOMET-015 for ziftomenib and imatinib combination in gastrointestinal stromal tumors (GIST)
Progress preclinical development of a next-generation menin inhibitor for use in combination therapy for solid tumors
Darlifarnib

Present preliminary clinical data for darlifarnib plus adagrasib in KRASG12C-mutated solid tumors (1H 2026)
Present updated Phase 1a data with ~ 1 year of additional follow-up for darlifarnib plus cabozantinib in advanced RCC (2H 2026)
KO-7246 (Next-Generation Menin Inhibitor)

Advance KO-7246 into IND-enabling studies for diabetes and cardiometabolic disease
Present additional preclinical data for menin inhibitors in Type 1 and Type 2 diabetes
Fourth Quarter 2025 Financial Results

Net product revenue: $2.1 million (first five weeks of commercial sales following November 13 approval of KOMZIFTI).
Collaboration revenue: $15.2 million, compared to $53.9 million for Q4 2024, reflecting non-cash revenue recognition under the collaboration agreement with Kyowa Kirin.
R&D expenses: $64.4 million, compared to $52.3 million for Q4 2024, primarily driven by advancement of ziftomenib combination trials, including KOMET-017.
SG&A expenses: $39.1 million, compared to $24.1 million for Q4 2024, reflecting commercialization-related investments.
Net loss: $81.0 million, compared to $19.2 million for Q4 2024. Net loss includes $11.3 million in non-cash, share-based compensation expense, compared to $8.6 million for the same period in 2024.
As of December 31, 2025, Kura had $667.2 million in cash, cash equivalents and short-term investments, compared to $727.4 million as of December 31, 2024.

The Company believes that its cash, cash equivalents and short-term investments as of December 31, 2025, will be sufficient to fund its current operating plan into the fourth quarter of 2027. When combined with the anticipated $180 million in payments under the collaboration agreement with Kyowa Kirin, these resources are expected to fund the ziftomenib AML program through the topline results from the first pivotal Phase 3 KOMET-017 frontline trial, anticipated in 2028.

Conference Call and Webcast

Kura’s management will host a webcast and conference call at 8:00 a.m. ET / 5:00 a.m. PT today, March 5, 2026, to discuss financial results and to provide a corporate update. A live webcast and archived replay of the event will be available here or online from the Investors section of the Company’s website at www.kuraoncology.com.

(Press release, Kura Oncology, MAR 5, 2026, View Source [SID1234663300])