On March 12, 2026 IN8bio, Inc. (Nasdaq: INAB), a clinical-stage biopharmaceutical company developing innovative gamma-delta ("γδ") T cell therapies and γδ T cell engagers for cancer and autoimmune diseases, reported financial results and business highlights for the fourth quarter and full-year ended December 31, 2025.

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"In 2025, we delivered meaningful progress financially and across our clinical γδ T cell therapy programs and our next-generation T cell engager platform," said William Ho, co-founder and Chief Executive Officer of IN8bio. "Our deep knowledge of γδ T cell biology and their powerful immune properties enables us to create potential first-in-class or best-in-class programs to address significant unmet medical needs. Last year, we reported updated survival data from our INB-200 and 400 Phase 1 and 2 programs in GBM, along with data from a contemporaneously enrolled standard-of-care ("SOC") control group. Patients treated with our DeltEx DRI γδ T cells nearly doubled the mPFS, compared to the SOC group, despite a higher number of patients receiving only partial resections. These findings underscore the aggressive nature of GBM, even with SOC treatment, and highlight the significant need for new treatment options. Importantly, our recent financing strengthens our balance sheet and is expected to extend our cash runway to allow us to advance multiple high-value programs. With differentiated science, advancing clinical programs, and a novel TCE platform, we believe IN8bio is well positioned to achieve key milestones and deliver value to shareholders and patients in 2026."

Key Highlights

Strengthened Balance Sheet with up to $40.2 Million Private Placement

In December 2025, IN8bio announced a private placement of up to $40.2 million in gross proceeds, including $20.1 million in an initial closing and the potential for an additional milestone-based $20.1 million.

Financing led by Coastlands Capital, with participation from new and existing investors.
Net proceeds of $18.5 million expected to extend the Company’s cash runway into the first half of 2027.
Proceeds intended to support IND-enabling studies for INB-619 γδ TCE, further discussions with the FDA on potential clinical pathways for the GBM program, continued advancement of the Company’s γδ T cell therapy programs, and general corporate purposes.
Presented Updated Clinical Data Demonstrating Durable Survival Improvements in Newly Diagnosed Glioblastoma

In January 2026, IN8bio reported updated data from its INB-200 Phase 1 and INB-400 Phase 2 trials evaluating DeltEx DRI γδ T cells in newly diagnosed GBM. The data included a contemporaneous SOC control group from multiple clinical sites.

mPFS for repeat dose DeltEx DRI patients was 13.0 months vs. 6.6 months for SOC control cohort (+97% improvement).
Median overall survival ("mOS") in repeat dose patients had not yet been reached at 17.2+ months, surpassing the 13.2-month final mOS for SOC control arm.
Several patients remained progression-free beyond two years, and one grade 4 glioma patient remains progression-free for greater than 4.5 years, highlighting the long-term benefit of INB-200.
No dose-limiting toxicities ("DLTs"), cytokine release syndrome ("CRS"), neurotoxicity ("ICANS"), tumor inflammation-associated neurotoxicity ("TIAN") or other unexpected severe adverse events were observed.
Results reinforce the potential of repeat-dose γδ T cell therapy to meaningfully improve outcomes in newly diagnosed glioblastoma and support continued regulatory engagement regarding potential clinical pathways.
Continued Advancing Next-Generation Gamma-Delta T Cell Engager Platform

Continued advancing INB-600 platform, featuring novel γδ T cell engagers designed to potentially improve durability and safety compared with traditional CD3-targeting engagers.
Progressing INB-619, a CD19-targeting γδ T cell engager for potential use in oncology and autoimmune diseases into IND-enabling studies with initial animal data expected in 2026.
Presented encouraging preclinical data including complete B-cell depletion, robust γδ T cell expansion, and minimal CRS-associated cytokine release at The American College of Rheumatology ("ACR") Convergence 2025 meeting, supporting differentiation of the platform.
Leadership Update

In February 2026, IN8bio announced the promotion of Kate Rochlin, Ph.D., to President and Chief Operating Officer. Dr. Rochlin has played a central role in advancing the Company’s clinical and preclinical programs, manufacturing capabilities, and strategic execution, and will continue overseeing company operations as IN8bio advances its pipeline and prepares for its next phase of growth.

Anticipated Milestones

Guidance from the FDA on potential regulatory pathway by the second half of 2026
Additional clinical updates on our GBM programs, including final mOS data from the total data set, at medical meetings in mid- and late-2026
Initial preclinical animal data and additional IND-enabling data for INB-619 expected in the second half of 2026
Completion of patient dosing in INB-100 in early 2026 and report long-term follow-up results at a medical meeting in late 2026
Fourth Quarter and Full Year 2025 Financial Highlights

IN8bio significantly improved its financial profile in 2025, reducing its full-year net loss by 36% year-over-year and ending the year with more than double the cash on hand compared to the prior year.

Cash position: As of December 31, 2025, the Company had cash of $27.1 million, compared with $11.1 million as of December 31, 2024.
Research and Development (R&D) expenses: R&D expenses were $2.6 million for the three months ended December 31, 2025, compared with $3.6 million for the comparable prior year period. R&D expenses were $10.2 million for the year ended December 31, 2025, compared with $17.0 million in the prior year. Non-cash stock-based compensation expense included in R&D expense was $1.2 million for the full year 2025 and $0.3 million for the fourth quarter of 2025.
General and administrative (G&A) expenses: G&A expenses were $2.4 million for the three months ended December 31, 2025, compared with $2.6 million for the comparable prior year period. G&A expenses were $9.7 million for the year ended December 31, 2025, compared with $12.6 million in the prior year. Non-cash stock-based compensation expense included in G&A expense was $2.0 million for the full year 2025 and $0.4 million for the fourth quarter of 2025.
Severance and related charges: Severance and related charges were nil for the year ended December 31, 2025, compared with $1.1 million in the prior year.
Net loss: The Company reported a net loss of $4.9 million, or $0.45 per basic and diluted common share, for the three months ended December 31, 2025, compared with a net loss of $6.2 million, or $2.38 per basic and diluted common share, for the comparable prior year period. For the year ended December 31, 2025, net loss was $19.4 million, or $4.44 per basic and diluted common share, compared with a net loss of $30.4 million, or $17.05 per basic and diluted common share, for the prior year.
IN8bio enters 2026 with a strengthened balance sheet, advancing clinical programs, and multiple regulatory milestones ahead. The Company remains focused on generating meaningful clinical data, advancing its γδ T cell platforms toward key inflection points, and deploying capital efficiently across its highest-priority programs across oncology and autoimmune diseases.

(Press release, In8bio, MAR 12, 2026, View Source [SID1234663498])

On March 12, 2026 IMPACT-AML reported that it has entered into an agreement with SELLAS Life Sciences Group, a late-stage clinical biopharmaceutical company focused on developing novel therapies for a broad range of cancer indications. Under the agreement, the IMPACT-AML network will conduct a clinical study evaluating SLS009, a highly selective CDK9 inhibitor, enabling access to multiple European clinical sites and patients.

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IMPACT-AML is a pan-European project that builds an inclusive clinical network, the STREAM platform, connecting patients, clinicians and researchers to test novel AML therapies and improve patient outcomes. It is part of the EU Mission on Cancer programme and represents a high-level scientific collaboration. The project is led by a consortium of major European research and clinical institutions, including IRCCS Istituto Romagnolo per lo Studio dei Tumori "Dino Amadori" (IRST), the University of Bologna, IIS La Fe (Health Research Institute Hospital La Fe), several European AML collaborative groups, and supranational organisations under the umbrella of the European LeukemiaNet (ELN), as well as multiple university hospitals across Europe. By leveraging IMPACT-AML’s existing infrastructure and expertise, SELLAS expects to expand European patient access to SLS009 in a cost-efficient manner while supporting broader participation across the clinical programme.

"This is a highly meaningful milestone for SELLAS and for the SLS009 programme," said Angelos Stergiou, M.D., Sc.D., President and Chief Executive Officer of SELLAS. "Gaining access to the IMPACT-AML framework represents strong external validation of SLS009 and reflects growing recognition of its potential to address critical unmet needs in AML. Importantly, this collaboration allows us to expand our clinical programme into Europe efficiently by leveraging an established infrastructure, improving capital efficiency while supporting broader and faster patient enrolment as we advance into frontline AML".

The collaboration is expected to support continued execution of the SLS009 clinical programme as SELLAS advances into frontline AML. The European study is planned to enrol approximately 40 patients to evaluate SLS009 in combination with azacitidine and venetoclax (AZA/VEN) in patients with newly diagnosed AML with high-risk features. Enrolment in the first part of the trial for newly diagnosed patients is expected to begin at US sites in Q1 2026, followed by initiation at European sites in Q2 2026, subject to regulatory approval and site readiness.

"IMPACT-AML is committed to accelerating access to promising new therapeutic approaches for patients with AML who face limited treatment options," said IMPACT-AML Scientific Coordinator Dr Giovanni Martinelli. "We are pleased to collaborate with SELLAS and support the evaluation of SLS009 within our European network, in line with our mission to facilitate efficient, high-quality clinical research in AML."

(Press release, IMPACT-AML, MAR 12, 2026, View Source [SID1234663497])

On March 12, 2026 Erasca, Inc. (Nasdaq: ERAS), a clinical-stage precision oncology company singularly focused on discovering, developing, and commercializing therapies for patients with RAS/MAPK pathway-driven cancers, reported business updates and announced financial results for the fiscal quarter and full year ended December 31, 2025.

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"Our RAS-targeting franchise continues to advance rapidly in the clinic, reflecting our strong operational execution and high investigator and patient enthusiasm," said Jonathan E. Lim, M.D., Erasca’s chairman, CEO, and co-founder. "Importantly, the best-in-class potential of our pan-RAS molecular glue ERAS-0015 was underscored by ongoing partial responses at a low dose of 8 mg QD across multiple tumor types and RAS mutations, together with favorable safety and pharmacokinetics (PK) data, as of the data cutoff*. This clinical progress and the successful upsized public offering heighten excitement in our RAS-targeting franchise and strengthen our financial position as we further advance clinical development."

Dr. Lim continued, "In 2026, we expect additional Phase 1 data for ERAS-0015 in the first half of the year, as well as initial data for our pan-KRAS inhibitor ERAS-4001 in the second half of the year. Our focus continues to be on streamlined execution across our clinical programs, and with our recent capital infusion, we believe that we are strongly positioned to drive our RAS-targeting franchise for the benefit of patients."

Research and Development (R&D) Highlights

•
Announced Promising Early Clinical Data for ERAS-0015: In January 2026, Erasca announced promising early clinical activity for ERAS-0015 during dose escalation, including confirmed partial responses in multiple tumor types with different RAS mutations, favorable safety and tolerability data, with no dose-limiting toxicities and predominantly low-grade adverse events and encouraging safety and well-behaved, linear PK.*

* Data cutoff date was January 7, 2026

Corporate Highlights

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Expanded License Agreement Territory for ERAS-0015: In March 2026, Erasca announced the expansion of its existing licensing agreement with Joyo Pharmatech Co., Ltd. (Joyo) to include China, Hong Kong, and Macau, providing Erasca with worldwide rights to its potential best-in-class pan-RAS molecular glue ERAS-0015.

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Completed Upsized Financing: In January 2026, Erasca completed a successful upsized public offering, raising approximately $258.8 million in gross proceeds. The transaction, supported by new and existing healthcare-focused investors, significantly strengthened Erasca’s balance sheet.

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Composition of Matter Patents Issued in the U.S. for RAS-Targeting Franchise: Erasca announced that the U.S. Patent and Trademark Office issued patents for its RAS-Targeting Franchise
o
U.S. patent No. 12,552,813 titled "Heterocyclic Substituted Pyrimidopyran Compound And Use Thereof," was issued in February 2026, which protects the composition of matter of ERAS-4001 and related compositions until June 2043, which period may be subject to patent term adjustments or extensions
o
U.S. patent No. 12,458,647 titled "Macrocyclic Derivative And Use Thereof," was issued in October 2025, which protects the composition of matter of ERAS-0015 and related compositions until September 2043, which period may be subject to patent term adjustments or extensions

Key Upcoming Milestones

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AURORAS-1 and JYP0015M101**:Phase 1 trials for ERAS-0015 (pan-RAS molecular glue) in patients with RAS-mutant solid tumors in the US and China, respectively
o
Phase 1 monotherapy data from both the US and China expected in the first half of 2026
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Initiation of AURORAS-1 monotherapy expansion cohorts and combination dose escalation cohort planned for the second half of 2026
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AURORAS-1 monotherapy expansion data and combination dose escalation data planned for 2027
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BOREALIS-1:Phase 1 trial for ERAS-4001 (pan-KRAS inhibitor) in patients with KRAS-mutant solid tumors
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Phase 1 monotherapy data expected in the second half of 2026
o
Initiation of monotherapy expansion cohorts and combination dose escalation cohorts planned for 2027

** JYP0015M101 is a clinical trial in China sponsored by Joyo that is assessing ERAS-0015 in adult patients with advanced solid tumors harboring specific RAS mutations.

Fourth Quarter and Full Year 2025 Financial Results

Cash Position: Cash, cash equivalents, and marketable securities were $341.8 million as of December 31, 2025, compared to $440.5 million as of December 31, 2024. Erasca expects its current cash, cash equivalents, and marketable securities (inclusive of the net proceeds received from the January 2026 underwritten offering and net of the payment to Joyo in connection with the exercise of the option to obtain worldwide rights) to fund operations into the second half of 2028.

Research and Development (R&D) Expenses: R&D expenses were $23.2 million for the quarter ended December 31, 2025, compared to $26.1 million for the quarter ended December 31, 2024. The decrease was primarily driven by decreases in expenses incurred in connection with clinical trials, preclinical studies, discovery activities, outsourced services, and consulting fees. R&D expenses were $92.9 million for the full year ended December 31, 2025, compared to $115.4 million for the full year ended December 31, 2024. Erasca also recorded $9.5 million of in-process R&D expense during the year ended December 31, 2025 for the achievement of milestones under Erasca’s ERAS-0015 and ERAS-4001 license agreements and $22.5 million of in-process R&D expense during the year ended December 31, 2024 for upfront payments under Erasca’s ERAS-0015 and ERAS-4001 license agreements.

General and Administrative (G&A) Expenses: G&A expenses were $9.4 million for the quarter ended December 31, 2025, compared to $9.6 million for the quarter ended December 31, 2024. The decrease was primarily driven by a decrease in legal fees. G&A expenses were $38.6 million for the full year ended December 31, 2025, compared to $41.7 million for the full year ended December 31, 2024.

Net Loss: Net loss was $29.1 million, or $(0.10) per basic and diluted share, for the quarter ended December 31, 2025, compared to $32.2 million, or $(0.11) per basic and diluted share, for the quarter ended December 31, 2024. For the full year ended December 31, 2025, Erasca reported a net loss of $124.5 million, or $(0.44) per basic and diluted share, compared to a net loss of $161.7 million, or $(0.69) per basic and diluted share, for the full year ended December 31, 2024.

(Press release, Erasca, MAR 12, 2026, View Source [SID1234663496])

On March 12, 2026 Corvus Pharmaceuticals, Inc. (Nasdaq: CRVS), a clinical-stage biopharmaceutical company, reported a business update and announced financial results for the fourth quarter and year ended December 31, 2025.

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"We believe the recent cohort 4 data from our Phase 1 atopic dermatitis trial demonstrate that soquelitinib has the potential to be an important new medicine for a broad range of patients with atopic dermatitis and other immune diseases," said Richard A. Miller, M.D., co-founder, president and chief executive officer of Corvus. "The data also highlight the unique mechanism of action with ITK inhibition, regulating multiple T cell functional pathways that leads to an immune system resetting that may be effective in treating many diseases. Our near-term focus is the ongoing enrollment of our registration Phase 3 peripheral T cell lymphoma (PTCL) trial, getting off to a strong start with our recently initiated Phase 2 atopic dermatitis trial, and reporting additional data from the Phase 1 trial at the Society of Investigative Dermatology (SID) meeting. We are also advancing our plans to initiate two additional Phase 2 trials in asthma and hidradenitis suppurativa later this year. Our recent financing will enable us to advance all of these programs through key data readouts, providing significant opportunity to further demonstrate the value of soquelitinib’s pipeline-in-a-product potential."

Business Update and Strategy

Soquelitinib (Corvus’ selective ITK inhibitor) for Immune Diseases

On January 20, 2026, Corvus reported data from cohort 4 of the randomized, blinded, placebo-controlled Phase 1 trial evaluating soquelitinib in patients with moderate-to-severe atopic dermatitis (data as of January 15, 2026). Cohort 4 data demonstrated positive safety and efficacy results, including additional clinical benefit observed following longer 8-week treatment.
Efficacy highlights:
75% of soquelitinib patients in cohort 4 achieved EASI 75, 25% achieved EASI 90 and 33% achieved IGA 0/1. This compares to 20%, 0% and 0%, respectively, for the placebo group.
Across cohorts 1-4 of the Phase 1 trial, positive efficacy results were achieved in patients who have received prior systemic therapy, including patients who are treatment resistant to approved therapies such as dupilumab and JAK inhibitors.
New long-term data for cohort 3 show maintenance or improvement in EASI out to three months beyond the treatment period associated with an increase of circulating Treg cells.
Safety highlights:
No new safety signals were observed. No severe or serious adverse events were reported. No significant lab abnormalities were seen.
Soquelitinib has now been administered to over 150 patients with T cell lymphoma, autoimmune lymphoproliferative syndrome and atopic dermatitis involving over 14,000 patient treatment days. No patient has required dose modification or treatment related drug discontinuation in any of these clinical trials.
Corvus initiated its Phase 2 randomized placebo-controlled atopic dermatitis clinical trial during Q1 2026. The trial is anticipated to enroll approximately 200 patients with moderate-to-severe atopic dermatitis that have failed at least one prior topical or systemic therapy. This includes four cohorts of 50 patients each, with soquelitinib doses of 200 mg once per day, 200 mg twice per day and 400 mg once per day, along with a placebo group. The treatment period is 12 weeks with a 90-day follow-up period with no treatment.
Angel Pharmaceuticals, Corvus’ partner in China, is enrolling a Phase 1b/2 clinical trial evaluating soquelitinib in patients with moderate-to-severe atopic dermatitis. This is a blinded, placebo-controlled trial that is planned to evaluate a 12-week treatment regimen in 48 patients utilizing soquelitinib doses of 100 mg twice per day, 200 mg once per day, 200 mg twice per day and 400 mg once per day. The patient eligibility and endpoints are similar to those used previously by Corvus. Depending on the results from the Phase 1b portion of the study, an additional 60-90 patients will be enrolled in the Phase 2 portion of the study. The trial is open at several leading dermatology centers in China who have been involved in global registration trials. The study is conducted in close collaboration with Corvus. Results from the initial cohorts are anticipated late this year.
Corvus also continues to advance its next-generation ITK inhibitor preclinical product candidates, which are designed to deliver precise T-cell modulation that is designed for specific immunology and oncology indications.
Collaboration with National Institute of Allergy and Infectious Diseases (NIAID)

Patient enrollment continues in the Autoimmune Lymphoproliferative Syndrome (ALPS) Phase 2 clinical trial, which is being conducted under a clinical research and development agreement with NIAID. The Phase 2 clinical trial (NCT06730126) is anticipated to enroll up to 30 patients aged 16 or older with confirmed ALPS based on genetic testing.
Soquelitinib for T Cell Lymphoma

Corvus continues to enroll patients in a registrational Phase 3 clinical trial of soquelitinib in patients with relapsed/refractory PTCL at multiple clinical sites. This randomized controlled trial is anticipated to enroll a total of 150 patients with relapsed/refractory PTCL and is evaluating soquelitinib versus physicians’ choice of either belinostat or pralatrexate chemotherapies. The primary endpoint of the trial is progression free survival. There are no FDA fully approved agents for the treatment of relapsed/refractory PTCL, and the FDA has granted soquelitinib Orphan Drug Designation for the treatment of T cell lymphoma and Fast Track designation for treatment of adult patients with relapsed or refractory PTCL after at least two lines of systemic therapy.
In December, Corvus presented the final data from the Company’s Phase 1/1b clinical trial evaluating soquelitinib in patients with T cell lymphoma in an oral presentation at the 67th American Society of Hematology (ASH) (Free ASH Whitepaper) Annual Meeting and Exposition. The data showed that patients in the 200 mg BID cohort had median progression free survival of 6.2 months and median overall survival of 28.1 months, comparing favorably to results with other therapies. The data support Corvus’ ongoing registration Phase 3 trial in relapsed/refractory PTCL and soquelitinib’s potential in immune and inflammatory diseases, including atopic dermatitis. Soquelitinib has been well tolerated with no patient requiring dose modification or discontinuation of the drug. Some of these patients have been on therapy for over 2 years. Over 30 lymphoma patients had Epstein Barr Virus (EBV) detected in blood at baseline prior to soquelitinib administration. No patient, including those with EBV at baseline, experienced viral reactivation or associated illness.
Financial Results
As of December 31, 2025, Corvus had cash, cash equivalents and marketable securities of $56.8 million as compared to $52.0 million as of December 31, 2024. Cash, cash equivalents and marketable securities as of December 31, 2025 does not include approximately $189.4 million in net proceeds received in a financing completed on January 23, 2026. Based on its current plans, Corvus expects its cash to fund operations into the second quarter of 2028.

Research and development expenses for the three months and year ended December 31, 2025 totaled $9.9 million and $33.7 million, respectively, compared to $6.0 million and $19.4 million for the same periods in 2024. The increase in research and development expenses of $3.9 million and $14.3 million for the three months and year ended December 31, 2025, respectively, was primarily due to higher clinical trial and manufacturing costs associated with the development of soquelitinib as well as an increase in personnel related costs.

Net loss for the three months ended December 31, 2025 was $12.3 million compared to a net loss of $12.1 million for the same period in 2024. Included in net loss for the three months ended December 31, 2025 and 2024 were non-cash losses of $0.7 million and $2.2 million, respectively, from Corvus’ equity method investment in Angel Pharmaceuticals and a non-cash loss of $2.3 million in the three months ended December 31, 2024 associated with a change in fair value of the Company’s warrant liability. Total stock compensation expense for the three months ended December 31, 2025 was $1.6 million compared to $0.8 million for the same period in 2024.

Conference Call Details
Corvus will host a conference call and webcast today, Thursday, March 12, 2026, at 4:30 p.m. ET (1:30 p.m. PT), during which time management will provide a business update and discuss the fourth quarter and full year 2025 financial results. The conference call can be accessed by dialing 1-800-717-1738 (toll-free domestic) or 1-646-307-1865 (international) or by clicking on this link for instant telephone access to the event. The live webcast may be accessed via the investor relations section of the Corvus website. A replay of the webcast will be available on Corvus’ website for 90 days.

(Press release, Corvus Pharmaceuticals, MAR 12, 2026, View Source [SID1234663495])

On March 12, 2026 Pamplona Therapeutics and Coherent Biopharma reported a strategic collaboration to combine Pamplona’s AI-driven targeted protein degradation (TPD) molecular design capabilities with Coherent’s dual-target conjugation technologies, Bi-XDC and C-PROTAC.

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Through this partnership, the two companies will jointly explore a new class of degrader–conjugate therapeutics, integrating precision degrader design with advanced targeted delivery technologies. The collaboration aims to expand the therapeutic potential of targeted protein degradation, particularly in chronic diseases and other areas with significant unmet medical needs.

"We are excited to initiate this collaboration with Pamplona and Dr. Liu’s team. Our Bi-XDC technology platform is designed to address key limitations in drug delivery and conventional antibody-drug conjugates. By combining our delivery capabilities with Pamplona’s AI-driven degrader design, we believe this partnership can unlock new opportunities for innovative therapeutics."

Dr. Jinsong Liu, CEO of Pamplona Therapeutics, commented:

"Pamplona’s first First-in-Class molecule received FDA clearance for clinical investigation within three years, validating the engineering capability of our ASTRIDE platform in the TPD field. This collaboration brings together AI-enabled molecular design and next-generation delivery technologies, enabling us to accelerate the development of degrader–conjugate therapeutics and expand the boundaries of targeted protein degradation."

By integrating AI-powered degrader discovery with precision tissue/cell-targeting Bi-XDC delivery technologies, the collaboration seeks to enhance both the efficacy and targeting capabilities of protein degradation therapeutics. The combined approach aims to enable more effective elimination of disease-driving proteins while improving tissue targeting and pharmacological performance.

(Press release, Pamplona Therapeutics, MAR 12, 2026, View Source [SID1234663494])