Financial Performance - Climb Bio, Inc. reported net losses of $12.9 million and $42.3 million for the three and nine months ended September 30, 2025, respectively, with an accumulated deficit of $272.2 million[99]. - Net loss for the three months ended September 30, 2025, was $12.9 million, compared to a net loss of $8.9 million for the same period in 2024, reflecting an increase of $3.9 million[118]. - Total operating expenses for the nine months ended September 30, 2025, were $48.6 million, a decrease of $22.5 million from $71.1 million in the same period in 2024[124]. - Net cash used in operating activities for the nine months ended September 30, 2025, was $38.7 million, compared to $10.0 million in the same period in 2024[132]. - Research and development expenses for the nine months ended September 30, 2025, were $33.0 million, up from $8.4 million in 2024, primarily due to increased costs for the budoprutug and CLYM116 programs[125]. - General and administrative expenses for the nine months ended September 30, 2025, increased by $4.5 million to $15.6 million, largely due to a $3.1 million rise in personnel-related expenses[127]. Clinical Development - The company received FDA clearance for a Phase 2 clinical trial of budoprutug in primary membranous nephropathy (pMN), where 60% of patients in a prior trial achieved complete remission of proteinuria[93]. - Climb Bio is also advancing budoprutug in clinical trials for immune thrombocytopenia (ITP) and systemic lupus erythematosus (SLE), with initial data expected in the second half of 2026 for both indications[94][95]. - The company is developing CLYM116, an anti-APRIL monoclonal antibody, which has shown improved bioavailability and prolonged exposure compared to a first-generation counterpart[97]. - The company has paused the development of its Kv7 program, previously focused on neuronal excitability disorders, while seeking a partner for further development[98]. Acquisitions and Agreements - The company acquired Tenet Medicines, Inc. for $41.9 million in common stock, with total acquisition costs amounting to $52.8 million, including transaction costs[103]. - Climb Bio entered into the Mabworks Agreement, making an upfront payment of $9.0 million for rights to develop CLYM116 outside Greater China, with additional milestone payments expected[104]. - The company has obligations under an asset purchase agreement with Acelyrin, which includes milestone and royalty payments contingent on future events[145]. Financial Position and Funding - Climb Bio's cash, cash equivalents, and marketable securities are estimated to fund operations through 2027, but future financing may be required if capital resources are depleted sooner than anticipated[102]. - The company believes its existing cash, cash equivalents, and marketable securities will be sufficient to fund operations through 2027[139]. - Future funding requirements will depend on various factors, including the costs and progress of clinical trials for product candidates like budoprutug and CLYM116[142]. - The company may need to finance operations through equity offerings or debt financings, which could dilute stockholder ownership[141]. Expenses and Cost Management - Research and development expenses increased from $6.2 million in Q3 2024 to $9.1 million in Q3 2025, primarily due to a $2.7 million increase in costs for the budoprutug program[119]. - General and administrative expenses rose from $5.5 million in Q3 2024 to $5.8 million in Q3 2025, driven by higher personnel-related expenses of $0.8 million[120]. - The company is subject to risks related to biopharmaceutical development, which may lead to unforeseen expenses and delays[140]. - The company may face inflationary pressures affecting salaries, goods, and transportation costs, impacting overall expenses[142]. - The company has no material minimum purchase commitments in contracts with third parties for clinical trials and manufacturing services[143]. Compliance and Accounting - The company is classified as an emerging growth company and can delay adopting new accounting standards until they apply to private companies[149]. - The company’s financial statements are prepared in accordance with U.S. GAAP, requiring estimates that could differ materially from actual results[146].

Revenue Growth - Cloud subscriptions revenue increased 21% year-over-year to $113.6 million for Q3 2025[1] - Total revenue for Q3 2025 was $187.0 million, reflecting a 21% year-over-year increase[4] - Professional services revenue rose 29% year-over-year to $39.8 million in Q3 2025[4] - Total revenue for the three months ended September 30, 2025, was $187,004,000, representing a 21.4% increase from $154,052,000 in the same period of 2024[20] - Subscription revenue increased to $147,188,000 for the three months ended September 30, 2025, up 19.5% from $123,121,000 in the prior year[20] - For the nine months ended September 30, 2025, total revenue was $49,138 million, compared to $38,973 million for the same period in 2024, representing an increase of approximately 26%[28] Profitability - GAAP net income for Q3 2025 was $7.8 million, compared to a net loss of $(2.1) million in Q3 2024[4] - Non-GAAP net income for Q3 2025 was $24.4 million, up from $1.8 million in Q3 2024[4] - Net income for the three months ended September 30, 2025, was $7,825,000, compared to a net loss of $2,100,000 in the same period of 2024[20] - Operating income for the three months ended September 30, 2025, was $13,114,000, a significant improvement from an operating loss of $7,157,000 in the prior year[20] - Net income for the nine months ended September 30, 2025, was $34,449 million, compared to a net loss of $22,577 million for the same period in 2024, indicating a turnaround in profitability[28] - The company reported a basic net income per share of $0.47 for the nine months ended September 30, 2025, compared to a loss of $0.31 per share in the same period of 2024[28] Guidance and Future Outlook - Full year 2025 guidance for cloud subscriptions revenue is expected to be between $435.0 million and $437.0 million, representing 18% to 19% year-over-year growth[8] - Total revenue guidance for full year 2025 is expected to be between $711.0 million and $715.0 million, indicating a 15% to 16% year-over-year increase[8] - Fourth quarter 2025 guidance for total revenue is expected to be between $187.0 million and $191.0 million, representing a year-over-year increase of 12% to 15%[8] - The company plans to continue focusing on market expansion and new product development to sustain growth momentum in the upcoming quarters[28] Cash Flow and Financial Position - Cash and cash equivalents increased to $125,249,000 as of September 30, 2025, from $118,552,000 at the end of 2024[24] - Total assets decreased slightly to $611,735,000 as of September 30, 2025, from $621,039,000 at the end of 2024[18] - Total liabilities increased to $660,279,000 as of September 30, 2025, compared to $653,679,000 at the end of 2024[18] - Cash flows from operating activities for the nine months ended September 30, 2025, were $61,737,000, compared to a cash outflow of $6,993,000 in the prior year[24] Operating Expenses and Cost Management - Total operating expenses decreased to $128,597 million, down from $137,234 million, representing a reduction of 6.3% year-over-year[26] - Total operating expenses for the nine months ended September 30, 2025, were $351,090 million, down from $350,716 million in the same period of 2024, indicating effective expense control despite revenue growth[28] - The cost of subscriptions as a percentage of revenue decreased from 39,614 million in 2024 to 49,810 million in 2025, reflecting improved cost management[28] Stockholder and Legal Expenses - The company reported stock-based compensation expense of $10,260,000 for the three months ended September 30, 2025, up from $9,505,000 in the same period of 2024[22] - The company incurred litigation expenses of $6,324 million for the nine months ended September 30, 2025, compared to $3,442 million in the same period of 2024, indicating increased legal costs[29]

Financial Performance - Q3 2025 GAAP net income was $11.4 million, or $0.46 per diluted share, showing a significant recovery from previous quarters[5]. - Net income allocable to common stockholders for the three months ended September 30, 2025, was $11,410, compared to $31,204 for the same period in 2024, indicating a decline of 63.5%[22]. - Distributable Earnings for Q3 2025 were $0.5 million, or $0.02 per diluted share[5]. - Distributable earnings for the nine months ended September 30, 2025, were $7,310, compared to a loss of $2,844 for the same period in 2024[22]. - Annualized distributable earnings for the three months ended September 30, 2025, were $2,116, compared to a loss of $13,460 for the same period in 2024[22]. Assets and Liabilities - Total assets were valued at $2.5 billion as of September 30, 2025[12]. - Total assets increased to $2,638,110, up from $2,269,769 as of December 31, 2024, representing a growth of approximately 16.2%[20]. - Total liabilities rose to $2,373,945, an increase from $2,030,802 as of December 31, 2024, reflecting a growth of approximately 16.9%[20]. - Cash and cash equivalents increased to $51,598 from $40,762 as of December 31, 2024, representing a growth of 26.5%[20]. Equity and Book Value - The GAAP book value per share was $10.60, reflecting a 2.2% increase from the previous quarter[5]. - Book value per share of common stock was $10.60 as of September 30, 2025, compared to $10.17 as of December 31, 2024, showing an increase of 4.23%[25]. - Economic book value per share of common stock decreased to $12.72 as of September 30, 2025, from $14.02 as of September 30, 2024, a decline of 9.2%[25]. - Retained earnings improved to a deficit of $209,242 as of September 30, 2025, compared to a deficit of $218,849 as of December 31, 2024, indicating a reduction in the deficit of approximately 4.4%[20]. Interest and Loans - Net interest income for Q3 2025 reached $10.2 million, an increase of 12.9% compared to Q3 2024 and a 2.4% increase from Q2 2025[5]. - As of September 30, 2025, the weighted average interest rate of the residential whole loans portfolio was 7.98%[7]. - The company purchased $237.6 million of newly-originated non-QM residential mortgage loans during Q3 2025, with a weighted average coupon of 7.74%[6]. Securitization and Debt - The company executed the AOMT 2025-10 securitization post-quarter, with an approximate $274.3 million scheduled unpaid principal balance[6]. - As of September 30, 2025, the company had a recourse debt to equity ratio of approximately 1.9x[12]. Dividends and Stock - The company declared a dividend of $0.32 per share, payable on November 26, 2025, to stockholders of record as of November 18, 2025[5][9]. - Common stock outstanding increased to 24,914,035 shares as of September 30, 2025, from 23,500,175 shares as of December 31, 2024[20].

Regulatory Approvals - Invivyd, Inc. received emergency use authorization (EUA) from the FDA for PEMGARDA® (pemivibart) on March 22, 2024, for pre-exposure prophylaxis of COVID-19 in adults and adolescents [171]. - The company received Emergency Use Authorization (EUA) from the FDA for PEMGARDA on March 22, 2024, which is expected to support revenue generation [196]. Financial Performance - The company reported a net loss of $41.4 million for the nine months ended September 30, 2025, with an accumulated deficit of $943.4 million as of the same date [183]. - The net loss for the three months ended September 30, 2025, was $10.5 million, a decrease of $50.3 million from a net loss of $60.7 million in the same period of 2024 [204]. - Total revenue for the nine months ended September 30, 2025, was $36.2 million, compared to $11.6 million for the same period in 2024, reflecting an increase of $24.6 million [215]. - The company reported a net loss of $41.4 million for the nine months ended September 30, 2025, compared to a net loss of $151.5 million for the same period in 2024, a decrease of $110.1 million [212]. - For the nine months ended September 30, 2025, the company reported a net cash used in operating activities of $42.7 million, compared to $132.9 million for the same period in 2024 [234]. Research and Development - The Phase 1/2 clinical trial for VYD2311, a next-generation monoclonal antibody candidate for COVID-19, began in September 2024, with positive safety and pharmacokinetics data announced in June 2025 [172]. - The DECLARATION clinical trial, a pivotal Phase 3 trial for VYD2311, is expected to begin around the end of 2025, with top-line data anticipated in mid-2026 [174]. - Invivyd, Inc. aims to develop monoclonal antibodies for serious viral diseases, starting with COVID-19 and potentially expanding to other high-need indications [176]. - The company has engaged in active SARS-CoV-2 variant monitoring, reporting continued neutralizing activity of PEMGARDA against various variants [178]. - The SPEAR Study Group was formed in July 2025 to evaluate the effects of broadly neutralizing anti-SARS-CoV-2 monoclonal antibody therapy in patients suffering from Long COVID or Post-Vaccination Syndrome [175]. - The company plans to continue the commercialization of PEMGARDA and advance the development of VYD2311, along with conducting clinical trials for its product candidates [186]. - The company has initiated discovery efforts to expand its pipeline beyond SARS-CoV-2, targeting potential new indications such as respiratory syncytial virus and measles [191]. - Research and development expenses significantly decreased to $8.0 million in Q3 2025 from $57.9 million in Q3 2024, a reduction of $49.8 million [204]. - Research and development expenses for the nine months ended September 30, 2025, were $28.3 million, down from $119.3 million in 2024, a decrease of $91.0 million [219]. Expenses and Costs - Cost of product revenue was $1.1 million for the three months ended September 30, 2025, up from $0.8 million in 2024, resulting in a $0.3 million increase attributed to higher PEMGARDA sales [206]. - Selling, general and administrative expenses rose to $15.0 million in Q3 2025, compared to $13.0 million in Q3 2024, an increase of $2.1 million [204]. - The cost of product revenue was $2.6 million for the nine months ended September 30, 2025, compared to $0.9 million in 2024, an increase of $1.7 million [216]. Financing and Capital - Invivyd, Inc. has raised a total of $464.7 million from preferred stock sales, $327.5 million from its IPO, and $43.8 million from common stock sales under a Sales Agreement [182]. - The company had cash and cash equivalents of $85.0 million as of September 30, 2025 [223]. - The company financed operations primarily with net proceeds of $464.7 million from sales of preferred stock and $327.5 million from its IPO in August 2021 [222]. - The company generated $58.5 million from financing activities during the nine months ended September 30, 2025, compared to $39.3 million in the same period in 2024 [239]. - In October 2025, the company sold 18,655,402 shares at an average price of $1.60 per share, generating $28.9 million in proceeds [229]. - The company completed an underwritten public offering in August 2025, issuing 89,234,480 shares at $0.52 per share, raising approximately $53.5 million in net proceeds [231]. - The company entered into a Loan Agreement for a senior secured term loan facility of up to $30 million, with specific drawdown conditions based on revenue milestones [232]. Going Concern and Future Plans - The company has substantial doubt about its ability to continue as a going concern beyond one year from the issuance date of its financial statements, based on current operating plans [187]. - The company plans to finance operations through a combination of revenue contributions, equity offerings, and debt financing, which may dilute existing stockholders' interests [243]. - The company is committed to advancing the REVOLUTION clinical program for VYD2311 and other product candidates, impacting future funding requirements [241]. Compliance and Reporting - The company is exempt from compliance with the auditor attestation requirement in the assessment of internal control over financial reporting [251]. - The company has reduced disclosure obligations regarding executive compensation [251]. - The company is exempt from holding a non-binding advisory vote on executive compensation and stockholder approval of any golden parachute payments not previously approved [251]. - The company is exempt from compliance with the Public Company Accounting Oversight Board requirements regarding the communication of critical audit matters in the auditor's report on financial statements [251]. - The company qualifies as a smaller reporting company and is not required to provide certain market risk disclosures [252].

Product Development - Cytisinicline is an investigational product candidate aimed at treating nicotine dependence, with a PDUFA targeted action date of June 20, 2026, for its NDA submission [131]. - The FDA granted Breakthrough Therapy designation for cytisinicline for nicotine e-cigarette cessation in 2024, expediting its development process [129]. - The ORCA-OL trial, which evaluated long-term safety exposure of cytisinicline, enrolled 479 subjects and was completed in September 2025 [140]. - The company plans to commence commercial sales of cytisinicline in the U.S. in the second half of 2026, utilizing AI tools for targeted marketing [133]. Financial Performance - The company reported a net loss of $40.0 million for the nine months ended September 30, 2025, with an accumulated deficit of $245.6 million [134]. - The company has incurred operating losses in each year since inception and has no products approved for commercial sale to date [134]. - The company expects to incur substantial additional losses in the future as it continues its operations [157]. - The company has not generated any revenue from product sales to date and may not do so in the near future [158]. Expenses and Cash Flow - Research and development expenses for the three months ended September 30, 2025, decreased to $5.3 million from $7.6 million in the same period of 2024, while expenses for the nine months increased to $19.1 million from $15.5 million [151]. - General and administrative expenses increased to $9.4 million and $21.0 million for the three and nine months ended September 30, 2025, respectively, compared to $4.9 million and $11.4 million for the same periods in 2024, primarily due to higher commercial launch preparation and employee costs [152]. - Total interest income decreased to $0.6 million and $1.1 million for the three and nine months ended September 30, 2025, respectively, down from $0.7 million and $1.9 million in the same periods in 2024, attributed to lower average cash balances and interest rates [153]. - Total interest expense decreased to $0.2 million and $0.6 million for the three and nine months ended September 30, 2025, respectively, compared to $0.4 million and $2.0 million for the same periods in 2024, due to a lower principal balance on the New Convertible Term Loan [154]. Cash and Securities - As of September 30, 2025, the company had cash, cash equivalents, and marketable securities totaling $48.1 million, with a positive working capital balance of $40.3 million [134]. - As of September 30, 2025, the company had $50.0 million available under the Open Market Sale Agreement with Jefferies LLC [180]. - Net cash used in operating activities was $31.5 million for the nine months ended September 30, 2025, an increase from $20.6 million for the same period in 2024, primarily due to higher R&D expenses [186]. - Net cash provided by financing activities for the nine months ended September 30, 2025 was $45.3 million, compared to $47.8 million for the same period in 2024 [187]. - Net cash provided by investing activities for the nine months ended September 30, 2025 was $5.4 million, a significant improvement from $33.3 million used in the same period in 2024 [188]. Stock Offerings - In February 2024, the company sold 13,086,151 shares of common stock at a price of $4.585 per share in a registered direct offering [176]. - Concurrently, the company issued unregistered warrants to purchase up to 13,086,151 shares of common stock at an exercise price of $4.906 per share [177]. - The registered direct offering raised total gross proceeds of approximately $60.0 million, with net proceeds of approximately $56.1 million after deducting fees and expenses [178]. - The June 2025 public offering of 15,000,000 shares and accompanying warrants raised total gross proceeds of approximately $45.0 million, resulting in net proceeds of approximately $41.2 million after underwriting discounts and expenses [185]. - The exercises of the Underwriters' option raised gross proceeds of $4.3 million, with net proceeds of approximately $4.0 million after underwriting discounts [185]. Debt and Financing - The New Convertible Term Loan has an original principal amount of $10.0 million, with an additional $5.0 million available upon certain conditions, maturing on December 1, 2027 [166][168]. - The increase in cash used in operations in 2025 was attributed to the ORCA-OL open-label safety trial initiated in May 2024 [186]. Accounting Standards - No new accounting standards were adopted in 2025, as noted in the company's financial statements [192].

Revenue Performance - Annual Revenue Run-Rate (ARR) as of September 30, 2025, is $355.716 million, up from $354.608 million in June 2025, reflecting a steady growth trend [164]. - Subscription Annual Revenue Run-Rate (Subscription ARR) reached $268.617 million as of September 30, 2025, compared to $267.951 million in June 2025, indicating consistent revenue generation from subscriptions [164]. - Total revenue for the three months ended September 30, 2025, was $86,029,000, a 2.8% increase from $83,710,000 for the same period in 2024 [186]. - Subscription solutions revenue for the three months ended September 30, 2025, was $64,703,000, up 3.0% from $62,826,000 in 2024 [186]. - Partner and services revenue for the three months ended September 30, 2025, was $21,326,000, reflecting a 2.1% increase from $20,884,000 in 2024 [186]. - Total revenue for the nine months ended September 30, 2025, reached $252,832,000, a 2.8% increase compared to $245,899,000 in 2024 [186]. - Subscription solutions revenue for the nine months ended September 30, 2025, was $190,473,000, a 2.6% increase from $185,582,000 in 2024 [186]. - Partner and services revenue for the nine months ended September 30, 2025, was $62,359,000, up 3.4% from $60,317,000 in 2024 [186]. Customer Metrics - The number of Enterprise Accounts decreased slightly to 5,751 as of September 30, 2025, from 5,803 in June 2025, showing a minor decline in enterprise customer base [164]. - ARR attributable to Enterprise Accounts is $269.179 million, representing 76% of total ARR as of September 30, 2025, consistent with the previous quarter [164]. - Average Revenue Per Account (ARPA) increased to $46,806 as of September 30, 2025, up from $46,403 in June 2025, indicating improved revenue efficiency per account [164]. - Net revenue retention (NRR) for enterprise accounts was 99% for the year ended December 31, 2024, and 100% for 2023, indicating stable revenue maintenance [165]. Operational Efficiency - Gross profit for the three months ended September 30, 2025, was $67,434,000, compared to $63,847,000 in 2024 [184]. - Loss from operations for the three months ended September 30, 2025, was $(435,000), an improvement from $(19,217,000) in 2024 [184]. - Net loss for the three months ended September 30, 2025, was $(2,243,000), compared to $(6,993,000) in 2024, indicating reduced losses [184]. - Cost of revenue for the three months ended September 30, 2025, decreased by $1,268,000 (6.4%) compared to the same period in 2024, while gross profit increased by $3,587,000 (5.6%) with a gross margin of 78.4% [188][192]. - For the nine months ended September 30, 2025, cost of revenue decreased by $4,795,000 (8.3%), and gross profit increased by $11,728,000 (6.2%) with a gross margin of 78.9% [189][192]. - Operating expenses for the three months ended September 30, 2025, totaled $67,869,000, a decrease of $15,195,000 (18.3%) compared to the same period in 2024 [192]. Expense Management - Sales and marketing expenses for the three months ended September 30, 2025, increased by $3,141,000 (9.5%) to $36,281,000, primarily due to reclassification of expenses from cost of revenue [192][193]. - Research and development expenses decreased by $3,377,000 (16.2%) for the three months ended September 30, 2025, totaling $17,464,000, mainly due to reduced salaries and share-based compensation [192][196]. - General and administrative expenses decreased by $4,294,000 (26.1%) for the three months ended September 30, 2025, totaling $12,141,000, driven by lower bad debt and professional services costs [192][200]. Cash Flow and Financing - Net cash provided by operating activities for Q3 2025 was $10.6 million, a 90% increase from $5.6 million in Q3 2024 [214]. - For the nine months ended September 30, 2025, net cash provided by operating activities was $24.5 million, up 76% from $13.9 million in the same period of 2024 [215]. - Net cash used in investing activities for Q3 2025 was $(6.8) million, compared to $9.3 million in Q3 2024, primarily due to the purchase of marketable securities of $44.3 million [216]. - For the nine months ended September 30, 2025, net cash used in investing activities was $(10.7) million, a significant decrease from $62.6 million in the same period of 2024 [217]. - Net cash used in financing activities for Q3 2025 was $0.1 million, a drastic reduction from $112.1 million in Q3 2024, mainly due to lower repayments of convertible notes [218]. - For the nine months ended September 30, 2025, net cash used in financing activities was $53.1 million, down from $112.4 million in the same period of 2024 [219]. Financial Position - As of September 30, 2025, the company had $51.1 million in cash and cash equivalents, an increase of $14.1 million from $37.0 million as of September 30, 2024 [1]. - The marketable securities balance decreased to $92.1 million as of September 30, 2025, from $133.0 million in 2024 [1]. - The company believes existing cash and cash equivalents will be sufficient to meet working capital and capital expenditure needs for at least the next twelve months [223]. - The company issued $150.0 million in 2028 Convertible Notes with a 7.50% interest rate, maturing on October 1, 2028 [226]. - The company repurchased approximately $59.1 million of its 2026 Convertible Notes for about $54.4 million in cash, resulting in a net gain of approximately $3.9 million [235]. - As of September 30, 2025, approximately $4.0 million principal amount of 2026 Convertible Notes remain outstanding [235]. - An immediate increase or decrease in interest rates of 100 basis points could result in a $1.0 million market value reduction or increase [240]. Risk Management - All revenue and most expenses for the three months ended September 30, 2025, were transacted in U.S. dollars, minimizing foreign currency exchange risk [242]. - The company currently does not hedge foreign currency exposure but may consider using derivative financial instruments in the future [244]. - The company has not experienced any losses on deposits of cash and cash equivalents, indicating effective credit risk management [245]. - The company maintains its cash and cash equivalents in high credit quality securities to mitigate credit risk [245]. - There have been no material changes to critical accounting policies and estimates compared to previous reports [238]. - The company has no off-balance sheet arrangements as of September 30, 2025 [236]. Strategic Initiatives - The company completed a strategic rebranding initiative, unifying its core products under the single brand identity "Commerce," aimed at enhancing operational cohesion and scalability [144]. - The launch of a new branded payments offering is planned for fiscal year 2026, targeting small and medium-sized customers to improve monetization and customer retention [156]. - The company is focusing on expanding its presence in both B2B and B2C markets, with product enhancements aimed at meeting the needs of enterprise B2B businesses and underserved B2C verticals [150][151]. - AI integration is a core component of the company's strategy, enhancing product discoverability and optimizing pricing to improve merchant performance [149]. - The company is closely monitoring macroeconomic factors, including trade policies and tariffs, to mitigate potential impacts on its international customer base [158].

FOR IMMEDIATE ISSUE STAGWELL INC. (NASDAQ: STGW) REPORTS RESULTS FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2025 YTD Increase in Cash Flow from Operations of $100 million Over Prior Year Period Announced a Groundbreaking Partnership with Palantir Q3 YoY Revenue Growth of 4%, Q3 YoY Net Revenue Growth of 6% Q3 YoY Net Revenue Growth excluding Advocacy of 10%, Digital Transformation Net Revenue Growth of 12%, Marketing Services Net Revenue Growth of 9% Q3 Net Income Attributable to Stagwell Inc. Common ...

Financial Performance - Climb Bio reported cash, cash equivalents, and marketable securities of $175.8 million as of September 30, 2025, expected to fund operations through 2027[9] - The net loss for Q3 2025 was $12.9 million, compared to a net loss of $8.9 million in Q3 2024, reflecting a 45.0% increase in losses[9] - Total operating expenses for Q3 2025 were $14.9 million, compared to $11.7 million in Q3 2024, marking a 27.5% increase[9] Research and Development - Research and Development (R&D) expenses for Q3 2025 were $9.1 million, up from $6.2 million in Q3 2024, representing a 46.8% increase[9] - Climb Bio initiated the Phase 2 trial of budoprutug in Primary Membranous Nephropathy (pMN) and expects dosing to start in the coming weeks[3] - Initial data from the Phase 1 trial of budoprutug's subcutaneous formulation is anticipated in H1 2026[1] - Climb Bio expects to announce initial data from ongoing trials for Immune Thrombocytopenia (ITP) and Systemic Lupus Erythematosus (SLE) in H2 2026[4] - CLYM116, targeting IgA nephropathy, received regulatory clearance for a Phase 1 trial, with the first subject expected to be dosed by year-end 2025[5] Administrative Changes - General and Administrative (G&A) expenses for Q3 2025 were $5.8 million, compared to $5.5 million in Q3 2024, a 5.5% increase[9] - The company appointed new leadership, including Susan Altschuller as Chief Financial Officer, enhancing its organizational strength[9]

Financial Performance - Climb Bio reported cash, cash equivalents, and marketable securities of $175.8 million as of September 30, 2025, expected to fund operations through 2027[9] - General and Administrative (G&A) expenses for Q3 2025 were $5.8 million, compared to $5.5 million in Q3 2024, a 5.5% increase[9] - The net loss for Q3 2025 was $12.9 million, compared to a net loss of $8.9 million in Q3 2024, reflecting a 45.0% increase in losses[9] Research and Development - Research and Development (R&D) expenses for Q3 2025 were $9.1 million, up from $6.2 million in Q3 2024, representing a 46.8% increase[9] - Climb Bio initiated the Phase 2 trial of budoprutug in Primary Membranous Nephropathy (pMN) and expects dosing to begin shortly[1] - Initial data from the Phase 1 trial of budoprutug's subcutaneous formulation is anticipated in H1 2026[1] - Climb Bio expects to announce initial data from ongoing trials for Immune Thrombocytopenia (ITP) and Systemic Lupus Erythematosus (SLE) in H2 2026[1] - CLYM116, targeting IgA nephropathy, has received regulatory clearance for a Phase 1 trial, with the first subject expected to be dosed by year-end 2025[1] - Climb Bio anticipates 2026 to be a data-rich year with significant datasets from both budoprutug and CLYM116 programs[2] Leadership Changes - The company appointed new leadership, including Susan Altschuller as Chief Financial Officer, enhancing its organizational strength[9]

LENSAR® Reports Third Quarter 2025 Results and Provides Business Update Third Quarter 2025 Financial Results Total revenue for the quarter ended September 30, 2025 was $14.3 million, an increase of $0.8 million, or 6%, compared to total revenue of $13.5 million for the quarter ended September 30, 2024. The increase in the third quarter of 2025 was primarily due to increased procedure volume. Worldwide procedure volume increased by approximately 11% in the third quarter of 2025 as compared to 2024. During th ...