Financial Performance - The net loss for Q2 2025 was $31.6 million, or $0.88 per share, compared to a net loss of $17.6 million, or $0.51 per share, in Q2 2024 [17]. - Total revenues for Q2 2025 were $193,000, a decrease from $1,863,000 in Q2 2024, while total revenues for the six months ended June 30, 2025, were $1,356,000 compared to $2,737,000 in the same period of 2024 [23]. - The net loss for Q2 2025 was $31,629,000, compared to a net loss of $17,607,000 in Q2 2024, resulting in a net loss of $61,140,000 for the six months ended June 30, 2025, versus $31,355,000 in 2024 [23]. - The net loss per share attributable to common stockholders was $(0.88) for Q2 2025, compared to $(0.51) for Q2 2024, with a total of $(1.71) for the six months ended June 30, 2025, versus $(0.99) in 2024 [23]. - Total operating expenses for Q2 2025 were $35,120,000, an increase from $24,067,000 in Q2 2024, with total operating expenses for the six months ended June 30, 2025, reaching $69,460,000 compared to $42,785,000 in 2024 [23]. - Interest and investment income for Q2 2025 was $3,403,000, down from $4,708,000 in Q2 2024, with total interest and investment income for the six months ended June 30, 2025, at $7,194,000 compared to $8,930,000 in 2024 [23]. - The company reported a total comprehensive loss of $31,801,000 for Q2 2025, compared to $17,617,000 in Q2 2024, with a total comprehensive loss of $61,148,000 for the six months ended June 30, 2025, versus $31,439,000 in 2024 [23]. Research and Development - Research and development (R&D) expenses for Q2 2025 were $26.3 million, up from $18.1 million in Q2 2024, primarily due to increased clinical costs and headcount [12][17]. - Research and development expenses increased to $26,251,000 in Q2 2025 from $18,070,000 in Q2 2024, and for the six months ended June 30, 2025, they rose to $53,254,000 from $31,148,000 in 2024 [23]. - Enrollment in the Phase 2 MaGic trial exceeded the target, completing with 65 patients [7]. - The ongoing Phase 3 CAPTIVATE trial in Chronic Inflammatory Demyelinating Polyneuropathy (CIDP) is on track for an interim responder analysis in the second half of 2026 [8]. - The Phase 2 MoMeNtum trial in Multifocal Motor Neuropathy (MMN) is also ongoing, with top-line results expected in the second half of 2026 [9]. Administrative Expenses - General and administrative (G&A) expenses for Q2 2025 totaled $8.9 million, compared to $6.0 million in Q2 2024, reflecting increased headcount [17]. - General and administrative expenses were $8,869,000 in Q2 2025, up from $5,997,000 in Q2 2024, with a total of $16,206,000 for the six months ended June 30, 2025, compared to $11,637,000 in 2024 [23]. Cash and Investments - The company has $309.1 million in cash, cash equivalents, and investments as of June 30, 2025, projected to provide a runway into the second half of 2027 [2][12]. Product Development - Claseprubart is designed for subcutaneous, self-administered injection, potentially allowing for administration as infrequently as once every two weeks [5][13]. - The company aims to build a neuromuscular franchise with claseprubart, targeting a range of autoimmune disorders with high unmet needs [13].
MAGENTA THERAPEU(MGTA) - 2025 Q2 - Quarterly Results