Recent Updates — LONA

LeonaBio, Inc. announced the enrollment of the 500th subject in its Phase 3 ELAINE-3 clinical trial for lasofoxifene combined with abemaciclib to treat ER+, HER2-negative, ESR1-mutated metastatic breast cancer. This event triggers the initial exercise date for 23,031,494 Series A Common Warrants issued in a December 2025 private placement. These warrants carry a $6.35 per share cash exercise price and expire no later than November 30, 2026. Full exercise would generate approximately $146.2 million in additional capital for the company. LeonaBio operates as a clinical-stage biotechnology company focused on developing targeted therapies for breast cancer.

LeonaBio reported a net loss of $19.0 million, or $0.80 per share, for the quarter ended June 30, 2026, compared to a $7.0 million loss in the prior year period. Cash and investments decreased to $51.1 million from $88.3 million at year-end 2025, while R&D expenses rose to $12.9 million due to clinical trial spend for the Phase 3 ELAINE-3 trial of lasofoxifene in metastatic breast cancer. The company remains on track to complete enrollment of approximately 600 patients by the fourth quarter of 2026, with topline data expected in the second half of 2027. Additionally, LeonaBio announced board changes effective May 5, 2026, appointing Fred Callori, Natalie Holles, and Peter Silverman while John Fluke Jr. retired. LeonaBio is a clinical-stage biopharmaceutical company developing novel therapeutics for diseases with high unmet medical needs.