Earnings ·
Adagene Inc. reported financial results for the six months ended June 30, 2026, showing a net loss of $16.4 million…
ADAGAdagene Inc.
Adagene Inc. reported financial results for the six months ended June 30, 2026, showing a net loss of $16.4 million compared to $13.5 million in the prior year period. Cash and cash equivalents increased to $127.9 million from $74.5 million at December 31, 2025, supported by approximately $70 million in gross proceeds from an underwritten public offering completed in April 2026. The company generated $1.6 million in net revenue, primarily from licensing and collaboration agreements with Sanofi and Exelixis. Research and development expenses rose to $14.0 million as clinical trials for lead program muzastotug advance. Pipeline updates include ongoing Phase 2 enrollment for muzastotug in microsatellite stable colorectal cancer, with results expected in the first half of 2027, and new collaborations with Sanofi and Incyte. Adagene operates in the biotechnology industry, focusing on the discovery and development of novel antibody-based cancer immunotherapies.