Chemomab Therapeutics Announces Second Quarter 2025 Financial Results and Provides Corporate Update

Core Insights - Chemomab Therapeutics is advancing its Phase 3 program for nebokitug, a treatment for primary sclerosing cholangitis (PSC), and is actively seeking strategic partnerships to optimize development resources and accelerate the program [3][4][11] - The company has received positive feedback from the FDA regarding the Chemistry, Manufacturing, and Controls (CMC) strategy and the timeline for nonclinical toxicology testing, which supports the timely advancement of the Phase 3 program [7][11] - Chemomab plans to adjust the ratio of its American Depositary Shares (ADSs) from 1:20 to 1:80, effective August 26, 2025, which will serve as a reverse split for ADS holders [3][10] Company Developments - The Phase 2 SPRING trial data for nebokitug was presented at major scientific meetings, highlighting its anti-fibrotic, anti-inflammatory, and anti-cholestatic effects [2][4][5] - Chemomab has expanded its patent protections for nebokitug in China and Russia, extending coverage until 2041, which is crucial for future commercialization [7][9] - The company reported a net loss of $2.1 million for Q2 2025, a decrease from $3.6 million in Q2 2024, reflecting reduced R&D expenses due to the completion of the Phase 2 trial [6][15] Financial Highlights - As of June 30, 2025, Chemomab had cash and cash equivalents of $9.5 million, expected to fund operations through the second quarter of 2026 [6][10] - R&D expenses for Q2 2025 were $1.3 million, down from $2.9 million in Q2 2024, while G&A expenses increased to approximately $1.0 million from $0.8 million in the same period [6][15] - The total number of ordinary shares issued and outstanding increased to 413,851,140 as of June 30, 2025, compared to 377,132,220 as of December 31, 2024 [10][14]