NASDAQ: KLRA
Kailera Therapeutics, Inc.CIK 0002096997 · SIC 2834 · Pharmaceutical Preparations
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net income -$111.3M. Kailera Therapeutics posts company with cash runway into mid-2028
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Kailera advances oral obesity drug to Phase 3, completes high-dose injection trial enrollment
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net income -$78.9M. Kailera debuts Q1 2026: loss, cash, IPO adds runway into mid-2028
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Kailera Therapeutics reports Q1 2026 financial results
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Kailera Therapeutics completes $718.8M IPO at $16/share with full overallotment exercised
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Latest financial statements
From 10-Q filed Aug 12, 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)
(amounts in thousands, except share data for all periods presented and per share data for 2026)
| 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 | 101,061 | 19,522 | 171,934 | 29,651 |
| General and administrative | 20,312 | 11,129 | 34,099 | 21,457 |
| Total operating expenses | 121,373 | 30,651 | 206,033 | 51,108 |
| Loss from operations | (121,373) | (30,651) | (206,033) | (51,108) |
| Other income | ||||
| Interest income | 9,994 | 2,126 | 15,710 | 3,801 |
| Other income (expense), net | 72 | (422) | 151 | 377 |
| Total other income | 10,066 | 1,704 | 15,861 | 4,178 |
| Net loss | (111,307) | (28,947) | (190,172) | (46,930) |
| Other comprehensive loss | ||||
| Unrealized loss | (1,262) | (26) | (2,023) | (32) |
| Comprehensive loss | (112,569) | (28,973) | (192,195) | (46,962) |
| Net loss per share attributable to common stockholders basic and diluted | (1.09) | (28,947) | (3.72) | (46,930) |
| Weighted-average common stock outstanding basic and diluted | 102,226,608 | 1 | 51,124,108 | 1 |
Condensed consolidated balance sheets (Unaudited)
(amounts in thousands, except share data)
| Description | June 30, 2026 (unaudited) | December 31, 2025 |
|---|---|---|
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | 130,301 | 160,267 |
| Marketable securities | 786,440 | 385,789 |
| Prepaid expenses and other current assets | 12,426 | 11,481 |
| Total current assets | 929,167 | 557,537 |
| Property and equipment, net | 1,753 | 1,955 |
| Restricted cash | 761 | 761 |
| Long-term marketable securities | 255,076 | 106,672 |
| Non-current clinical deposits | 14,671 | 12,185 |
| Operating lease right-of-use assets | 9,898 | 10,463 |
| Other non-current assets | 90 | 2,721 |
| Total assets | 1,211,416 | 692,294 |
| Liabilities, convertible preferred stock and stockholders’ equity (deficit) | ||
| Current liabilities: | ||
| Accounts payable | 19,202 | 7,529 |
| Accrued expenses and other current liabilities | 63,399 | 37,836 |
| Operating lease liabilities, current | 1,050 | 1,040 |
| Total current liabilities | 83,651 | 46,405 |
| Operating lease liabilities, non-current | 9,166 | 9,713 |
| Other non-current liabilities | 135 | 270 |
| Total liabilities | 92,952 | 56,388 |
| Commitments and contingencies (Note 12) | ||
| Convertible preferred stock: | ||
| Series A convertible preferred stock: $0.00001 par value; no shares authorized, issued and outstanding at June 30, 2026; 35,677,603 shares authorized, issued and outstanding at December 31, 2025 | — | 390,306 |
| Series B convertible preferred stock: $0.00001 par value; no shares authorized, issued and outstanding at June 30, 2026; 43,084,539 shares authorized, issued and outstanding at December 31, 2025 | — | 602,058 |
| Stockholders’ equity (deficit): | ||
| Preferred stock, $0.00001 par value; 10,000,000 shares authorized and no shares issued and outstanding at June 30, 2026; no shares authorized, issued and outstanding at December 31, 2025 | — | — |
| Common stock, $0.00001 par value; 800,000,000 shares and 105,384,000 shares authorized at June 30, 2026 and December 31, 2025, respectively; 129,620,370 and 19,048 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively | — | — |
| Additional paid-in capital | 1,679,098 | 11,981 |
| Accumulated other comprehensive (loss) income | (1,794) | 229 |
| Accumulated deficit | (558,840) | (368,668) |
| Total stockholders’ equity (deficit) | 1,118,464 | (356,458) |
| Total liabilities, convertible preferred stock and stockholders’ equity (deficit) | 1,211,416 | 692,294 |
Condensed consolidated statements of cash flows (Unaudited)
(amounts in thousands)
| Description | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|
| Cash flows from operating activities: | ||
| Net loss | (190,172) | (46,930) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization expense | 202 | 125 |
| Stock-based compensation expense | 12,283 | 3,154 |
| Change in fair value of preferred stock tranche right liability | — | (1,400) |
| Non-cash lease expense | 565 | 243 |
| Accretion of discounts on investments, net | (2,892) | (1,001) |
| Change in fair value of convertible promissory notes | — | 1,016 |
| Other | (11) | — |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses and other current assets | (1,243) | (6,174) |
| Non-current clinical deposits | (2,486) | — |
| Other non-current assets | 2,316 | (170) |
| Accounts payable | 11,843 | (192) |
| Accrued expenses and other current liabilities | 24,430 | 7,198 |
| Operating lease liabilities | (537) | (301) |
| Other non-current liabilities | (135) | — |
| Net cash used in operating activities | (145,837) | (44,432) |
| Cash flows from investing activities: | ||
| Purchases of marketable securities | (738,259) | (136,612) |
| Maturities of marketable securities | 190,084 | 8,000 |
| Net cash used in investing activities | (548,175) | (128,612) |
| Cash flows from financing activities: | ||
| Proceeds from the exercise of stock options | 487 | — |
| Proceeds from issuance of convertible promissory notes | — | 100,000 |
| Proceeds from issuance of common stock, net of commissions and underwriting discounts | 668,438 | — |
| Payments of deferred offering costs related to initial public offering | (4,879) | — |
| Net cash provided by financing activities | 664,046 | 100,000 |
| Net decrease in cash, cash equivalents and restricted cash | (29,966) | (73,044) |
| Cash, cash equivalents and restricted cash at beginning of period | 161,028 | 175,178 |
| Cash, cash equivalents and restricted cash at end of period | 131,062 | 102,134 |
| Reconciliation of cash, cash equivalents and restricted cash | ||
| Cash and cash equivalents | 130,301 | 101,373 |
| Restricted cash | 761 | 761 |
| Total cash, cash equivalents and restricted cash | 131,062 | 102,134 |
| Supplemental disclosure of non-cash investing and financing activities: | ||
| Conversion of convertible preferred stock to common stock | 992,364 | — |
| Deferred offering costs included in accounts payable and accrued expenses | 1,261 | 15 |
| Increase in right-of-use assets and operating lease liabilities from lease modifications | — | 32 |
Amounts as printed on the EDGAR/iXBRL face — (amounts in thousands, except share data for all periods presented and per share data for 2026); (amounts in thousands, except share data); (amounts in thousands). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗