Kalaris Therapeutics Q3 net loss narrows as expenses fall

Overview

• US biopharma firm's Q3 net loss narrowed from prior year as operating expenses declined

• Supply interruption delays preliminary TH103 Phase 1b/2 data to 2H 2027

• Company completed tech transfer to commercial-scale manufacturer with test batches meeting target specs

Outlook

• Company expects preliminary Phase 1b/2 TH103 data in nAMD in 2H 2027

• Kalaris expects to initiate Phase 3 TH103 program in 2028

• Company expects cash resources to fund operations into 2028

Result Drivers

• R&D SPENDING SHIFT - Lower manufacturing and process development costs offset by higher clinical trial expenses as more sites opened and patients enrolled in TH103 study

• G&A EXPENSES - Decrease in professional services and consulting partly offset by higher personnel costs

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for Kalaris Therapeutics Inc is $18.50, about 704.3% above its November 9 closing price of $2.30

Reuters Recommended Reads

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)