Aura Biosciences(AURA) - 2025 Q3 - Quarterly Results

Financial Position - As of September 30, 2025, the company had cash and cash equivalents and marketable securities totaling $161.9 million, sufficient to fund operations into the first half of 2027[18] - Total assets increased to $190,024 million as of September 30, 2025, up from $182,503 million at December 31, 2024, representing a growth of 4.2%[24] - Current assets rose to $170,120 million, compared to $160,623 million in the previous period, marking a 5.3% increase[24] - Cash and cash equivalents significantly increased to $47,553 million from $31,693 million, reflecting a growth of 49.9%[24] - Total liabilities increased to $33,357 million from $30,533 million, an increase of 9.2%[24] - Stockholders' equity grew to $156,667 million, up from $151,970 million, indicating a rise of 3.7%[24] - Additional paid-in capital increased to $611,457 million from $525,934 million, a substantial increase of 16.3%[24] - The accumulated deficit widened to $(454,859) million from $(374,227) million, indicating a deterioration in financial position[24] - Total current liabilities increased to $18,823 million from $14,913 million, a rise of 26.5%[24] - The company maintained restricted cash and deposits at $768 million, unchanged from the previous period[24] - Property and equipment, net decreased to $2,629 million from $3,215 million, a decline of 18.2%[24] Operational Performance - Research and development expenses increased to $22.2 million for Q3 2025, up from $17.0 million in Q3 2024, primarily due to ongoing clinical trial costs[18] - General and administrative expenses decreased to $5.7 million for Q3 2025 from $6.2 million in Q3 2024, driven by reduced professional fees[18] - The net loss for Q3 2025 was $26.1 million compared to $21.0 million for Q3 2024, reflecting an increase in operational costs[18] - The company reported a total operating loss of $27.9 million for Q3 2025, compared to $23.2 million for Q3 2024[22] Clinical Trials and Research - The ongoing Phase 3 CoMpass trial for early choroidal melanoma is expected to complete enrollment in 2026, with topline data readout anticipated in Q4 2027[5] - Approximately 90% of targeted clinical sites for the CoMpass trial are now activated, with over 400 patients entered into the patient identification tool since June 2024[4] - The Phase 1b/2 trial for NMIBC is on track, with initial data expected in mid-2026, reinforcing bel-sar's potential as a frontline therapy[10] - The company has dosed the first patient in a Phase 2 trial for metastases to the choroid, with early proof of concept data expected in 2026[11] - Bel-sar has the potential to become the first frontline vision-preserving therapy for early choroidal melanoma, addressing a significant unmet medical need[6]