Chemomab reports $2.2 million Q2 loss

• Chemomab Therapeutics reported a second-quarter 2026 net loss of $2.2 million and advanced its planned merger with Scipher Medicine.
• The company ended the quarter with $6.7 million in cash, cash equivalents and short-term deposits.
• The combined company plans to begin a Phase 2 rheumatoid arthritis trial for nebokitug in the first half of 2027.

Chemomab Therapeutics (NASDAQ:CMMB) reported second-quarter 2026 results and progress on its proposed all-stock merger with Scipher Medicine, with Chemomab shareholders expected to own about 32% of a combined company valued at $150 million.

The merger agreement includes a planned concurrent $30 million private placement with 100% warrant coverage, while the combined company intends to advance nebokitug into additional clinical development.

Chemomab reported second-quarter research and development expenses of $1.1 million, general and administrative expenses of $1.1 million, a net loss of $2.2 million and cash, cash equivalents and short-term deposits totaling $6.7 million.

The company expects its current cash position to fund operations through the first quarter of 2027, while the combined company plans to start a Phase 2 rheumatoid arthritis trial for nebokitug in the first half of 2027.

Nebokitug is a first-in-class anti-CCL24 antibody that the combined company plans to evaluate in rheumatoid arthritis, with topline Phase 2 data expected in the first half of 2028.

Chemomab shareholders are also expected to receive contingent value rights tied to up to $50 million in future milestones related to nebokitug and the primary sclerosing cholangitis program.