Core Insights - Aura Biosciences is advancing its clinical programs, particularly the Phase 3 CoMpass trial for early choroidal melanoma and the Phase 1b/2 trial for non-muscle invasive bladder cancer (NMIBC) [2][3][11] - The company successfully completed a $75 million equity financing, strengthening its balance sheet and ensuring operational funding into the first half of 2027 [1][17] - The ongoing CoMpass trial is the first registration-enabling study for early choroidal melanoma, with over 240 patients pre-screened for enrollment [3][4] Clinical Programs - The CoMpass trial is a global, randomized study evaluating bel-sar treatment against a sham control, targeting approximately 100 patients with documented tumor growth [3] - The trial is expected to complete enrollment by the end of 2025, highlighting the need for vision-preserving therapies [4] - Bel-sar is also being developed for metastases to the choroid and cancers of the ocular surface, with a combined annual incidence of over 60,000 patients in the U.S. and Europe [6][10] Financial Performance - As of June 30, 2025, the company reported cash and cash equivalents totaling $177.3 million, sufficient to fund operations into the first half of 2027 [17] - Research and development expenses increased to $22.9 million in Q2 2025 from $16.9 million in Q2 2024, driven by clinical trial costs [17] - The net loss for Q2 2025 was $27.0 million, compared to $20.3 million in Q2 2024, reflecting ongoing investment in clinical development [17][20] Future Developments - The company is initiating a Phase 2 trial for bel-sar in metastases to the choroid, expanding inclusion criteria to include various solid tumors [7] - Initial data from the Phase 2 trial is expected in 2025, while a Phase 1 clinical trial for cancers of the ocular surface is planned for 2026 [10][11] - A patent application has been filed for a new formulation of bel-sar for bladder cancer, potentially extending patent coverage to 2046 [12]
Aura Biosciences Reports Second Quarter 2025 Financial Results and Business Highlights