NASDAQ: COAG
Hemab Therapeutics Holdings, Inc.CIK 0002114044 · SIC 2836 · Biological Products
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net income -$22.7M. Hemab discloses material control weaknesses in debut 10-Q; IPO extends runway to 2029
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Hemab Therapeutics reports Q1 2026 financial results
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Hemab Therapeutics board member Laura Tadvalkar resigns effective immediately
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Hemab Therapeutics completes $346.7M IPO at $18/share, adopts anti-takeover defenses
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Latest financial statements
From 10-Q filed Aug 11, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited)
(in thousands, except share and per share amounts)
| Description | Three months ended June 30, 2026 | Three months ended June 30, 2025 | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|---|---|
| Operating expenses | ||||
| Research and development | 20,336 | 12,874 | 39,797 | 26,975 |
| General and administrative | 5,743 | 3,183 | 9,894 | 5,642 |
| Total operating expenses | 26,079 | 16,057 | 49,691 | 32,617 |
| Loss from operations | (26,079) | (16,057) | (49,691) | (32,617) |
| Other income (expense), net | ||||
| Interest income | 2,858 | 335 | 4,077 | 808 |
| Other (expense) income, net | (832) | 3,517 | (1,114) | 4,108 |
| Total other income, net | 2,026 | 3,852 | 2,963 | 4,916 |
| Loss before income tax expense | (24,053) | (12,205) | (46,728) | (27,701) |
| Income tax (expense) benefit | (97) | (4) | (109) | 186 |
| Net loss | (24,150) | (12,209) | (46,837) | (27,515) |
| Net loss per share, basic and diluted | (0.80) | (12.91) | (3.00) | (29.09) |
| Weighted average shares outstanding, basic and diluted | 30,111,338 | 946,000 | 15,609,236 | 946,000 |
| Other comprehensive loss | ||||
| Net loss | (24,150) | (12,209) | (46,837) | (27,515) |
| Net unrealized (loss) gain on available-for-sale debt securities | (2,309) | (609) | (2,923) | 365 |
| Total comprehensive loss | (26,459) | (12,818) | (49,760) | (27,150) |
Condensed Consolidated Balance Sheets (Unaudited)
(in thousands, except share and per share amounts)
| Description | June 30, 2026 | December 31, 2025 |
|---|---|---|
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | 237,366 | 87,974 |
| Marketable securities | 220,094 | 97,511 |
| Prepaid expenses and other current assets | 6,538 | 7,066 |
| Total current assets | 463,998 | 192,551 |
| Property and equipment, net | 596 | 609 |
| Operating right-of-use assets | 901 | 1,092 |
| Other non-current assets | 2,286 | 531 |
| Total assets | 467,781 | 194,783 |
| Liabilities, convertible preference shares, convertible preferred stock and stockholders’ equity (deficit) | ||
| Current liabilities: | ||
| Accounts payable | 6,232 | 5,734 |
| Accrued expenses and other current liabilities | 6,252 | 4,296 |
| Operating lease liabilities | 460 | 647 |
| Total current liabilities | 12,944 | 10,677 |
| Operating lease liabilities, net of current portion | 566 | 573 |
| Total liabilities | 13,510 | 11,250 |
| Commitments and contingencies (Note 8) | ||
| Convertible preference shares and convertible preferred stock: | ||
| Series Seed convertible preferred stock and convertible preference shares, $0.0001 par value and DKK 1 par value as of June 30, 2026 and December 31, 2025, respectively; no shares and 23,343 shares authorized, issued and outstanding as of June 30, 2026 and December 31, 2025, respectively; liquidation preference of $0 and $2,939 as of June 30, 2026 and December 31, 2025, respectively | — | 5,236 |
| Series A convertible preferred stock and convertible preference shares, $0.0001 par value and DKK 1 par value as of June 30, 2026 and December 31, 2025, respectively; no shares and 225,866 shares authorized, issued and outstanding as of June 30, 2026 and December 31, 2025, respectively; liquidation preference of $0 and $54,528 as of June 30, 2026 and December 31, 2025, respectively | — | 63,536 |
| Series B convertible preferred stock and convertible preference shares, $0.0001 par value and DKK 1 par value as of June 30, 2026 and December 31, 2025, respectively; no shares and 442,205 shares authorized, issued and outstanding as of June 30, 2026 and December 31, 2025, respectively; liquidation preference of $0 and $135,248 as of June 30, 2026 and December 31, 2025, respectively | — | 134,975 |
| Series C convertible preferred stock and convertible preference shares, $0.0001 par value and DKK 1 par value as of June 30, 2026 and December 31, 2025, respectively; no shares and 512,991 shares authorized, issued and outstanding as of June 30, 2026 and December 31, 2025, respectively; liquidation preference of $0 and $156,898 as of June 30, 2026 and December 31, 2025, respectively | — | 156,421 |
| Stockholders’ deficit: | ||
| Ordinary shares, DKK 1 par value; no shares and 946,000 shares authorized, issued, and outstanding as of June 30, 2026 and December 31, 2025, respectively | — | 132 |
| Common stock, $0.0001 par value; 400,000,000 shares and no shares authorized as of June 30, 2026 and December 31, 2025, respectively; 46,705,410 shares and no shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively | 5 | — |
| Preferred stock, $0.0001 par value; 5,000,000 shares and no shares authorized as of June 30, 2026 and December 31, 2025, respectively; no shares issued and outstanding as of June 30, 2026 and December 31, 2025 | — | — |
| Additional paid-in capital | 685,709 | 4,916 |
| Accumulated deficit | (228,695) | (181,858) |
| Accumulated other comprehensive (loss) income | (2,748) | 175 |
| Total stockholders’ equity (deficit) | 454,271 | (176,635) |
| Total liabilities, convertible preference shares, convertible preferred stock and stockholders’ equity (deficit) | 467,781 | 194,783 |
Condensed Consolidated Statements of Cash Flows (Unaudited)
(in thousands)
| Description | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|
| Cash flows from operating activities: | ||
| Net loss | (46,837) | (27,515) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Equity-based compensation | 3,333 | 953 |
| Depreciation and amortization | 148 | 152 |
| Non-cash lease expense | 313 | 283 |
| Accretion of discount on available-for-sale debt securities | (2,135) | (331) |
| Other non-cash items | - | (910) |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses and other current assets | 528 | (746) |
| Other non-current assets | (1,755) | (834) |
| Accounts payable | 498 | 564 |
| Accrued expenses and other current liabilities | 2,002 | 316 |
| Operating lease liabilities | (316) | (281) |
| Other non-current liabilities | - | (17) |
| Net cash used in operating activities | (44,221) | (28,366) |
| Cash flows from investing activities: | ||
| Purchases of available-for-sale debt securities | (148,208) | (19,948) |
| Maturities of available-for-sale debt securities | 25,059 | 35,472 |
| Purchases of property and equipment | (135) | (16) |
| Net cash (used in) provided by investing activities | (123,284) | 15,508 |
| Cash flows from financing activities: | ||
| Proceeds from issuance of common stock, net of issuance costs of $29.6 million | 317,165 | - |
| Principal payments on finance lease | (46) | (59) |
| Net cash provided by (used in) financing activities | 317,119 | (59) |
| Effect of foreign exchange rate changes on cash and cash equivalents | (222) | - |
| Net increase (decrease) in cash and cash equivalents | 149,392 | (12,917) |
| Cash and cash equivalents at beginning of period | 87,974 | 74,407 |
| Cash and cash equivalents at end of period | 237,366 | 61,490 |
| Supplemental disclosure of cash flow activities | ||
| Cash paid for interest | - | 7 |
| Cash paid for income taxes | - | 197 |
| Supplemental disclosure of non-cash investing and financing activities | ||
| Right-of-use assets obtained in exchange for operating lease liabilities | 122 | - |
Amounts as printed on the EDGAR/iXBRL face — (in thousands, except share and per share amounts); (in thousands). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗