LTGO
LTGOCIK 0002056611
Every 8-K is open in full. Other 10-Ks and 10-Qs show a 3-bullet preview. A free account reads 3 more full reports a month. Generating a report requires a verified account.
Sign up freeWant to see a complete report first? Today's free report (KRG 10-Q) is open in full — no account needed.
Summary not yet generated.
Summary not yet generated.
Partner
Trade LTGO commission-free
Open an account, get a free stock.
Investing involves risk. Free stock terms apply.
Summary not yet generated.
Summary not yet generated.
Summary not yet generated.
LTGO prices $345.6M IPO at $18/share; company nets $315.7M for pain drug trials
6 material changes detected. Sign up free to read the summary.
LTGO S-1/A Amendment No. 2: No material changes; net proceeds remain $247.2M
1 material change detected. Sign up free to read the summary.
LTGO's S-1/A fills in IPO terms: $247.2M net proceeds, $17 assumed price, cash runway to 2H28
5 material changes detected. Sign up free to read the summary.
Summary not yet generated.
Latest financial statements
From 10-Q filed Nov 5, 2026 (period ending Sep 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed Statements of Operations and Comprehensive Loss (Unaudited)
(in thousands, except per share amounts)
| Description | Three months ended September 30, 2026 | Three months ended September 30, 2025 | Nine months ended September 30, 2026 | Nine months ended September 30, 2025 |
|---|---|---|---|---|
| Operating expenses: | ||||
| Research and development | 17,502 | 22,097 | 56,361 | 63,709 |
| General and administrative | 5,427 | 2,626 | 15,812 | 8,271 |
| Total operating expenses | 22,929 | 24,723 | 72,173 | 71,980 |
| Loss from operations | (22,929) | (24,723) | (72,173) | (71,980) |
| Interest income | (2,126) | (728) | (2,864) | (2,113) |
| Interest expense | 699 | — | 950 | — |
| Change in fair value of preferred stock tranche liability | — | 795 | — | 1,674 |
| Change in fair value of derivative liability | (5,148) | — | (5,148) | — |
| Loss on extinguishment of debt | 4,581 | — | 4,581 | — |
| Other expense, net | 14 | 6 | 15 | 42 |
| Total other (income) expense, net | (1,980) | 73 | (2,466) | (397) |
| Net loss and comprehensive loss | (20,949) | (24,796) | (69,707) | (71,583) |
| Net loss and comprehensive loss per share basic and diluted | (0.55) | (29.50) | (5.22) | (95.16) |
| Weighted-average number of shares used in computing net loss per share basic and diluted | 37,838 | 840 | 13,363 | 752 |
Condensed Balance Sheets (Unaudited)
(in thousands, except share and per share amounts)
| Description | September 30, 2026 | December 31, 2025 |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | 401,241 | 69,437 |
| Restricted cash | 168 | 192 |
| Prepaid expenses and other current assets | 5,033 | 4,200 |
| Total current assets | 406,442 | 73,829 |
| Operating lease right-of-use assets | 1,141 | 625 |
| Property and equipment, net | 440 | 446 |
| Other assets | 433 | 616 |
| Total assets | 408,456 | 75,516 |
| LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY (DEFICIT) | ||
| Current liabilities: | ||
| Accounts payable | 5,085 | 5,015 |
| Accrued expenses and other current liabilities | 8,174 | 12,868 |
| Operating lease liabilities, current | 705 | 563 |
| Total current liabilities | 13,964 | 18,446 |
| Operating lease liabilities, non-current | 483 | 127 |
| Other long-term liabilities | 35 | 35 |
| Total liabilities | 14,482 | 18,608 |
| Commitments and contingencies (Note 6) | ||
| Redeemable convertible preferred stock: $0.0001 par value per share, none and 264,397,134 shares authorized at September 30, 2026 and December 31, 2025, respectively; none and 41,155,082 shares issued and outstanding with aggregate liquidation preference of none and $287,899 at September 30, 2026 and December 31, 2025, respectively | — | 288,582 |
| Stockholders' equity (deficit): | ||
| Preferred stock: $0.0001 par value per share, 10,000,000 shares authorized at September 30, 2026 and none authorized at December 31, 2025; no shares issued and outstanding at September 30, 2026 and December 31, 2025 | — | — |
| Common stock: $0.0001 par value per share, 999,999,999 shares and 342,000,000 shares authorized at September 30, 2026 and December 31, 2025, respectively; 66,299,347 shares and 878,521 shares issued and outstanding at September 30, 2026 and December 31, 2025, respectively | 7 | — |
| Additional paid-in capital | 706,805 | 11,457 |
| Accumulated deficit | (312,838) | (243,131) |
| Total stockholders' equity (deficit) | 393,974 | (231,674) |
| Total liabilities, redeemable convertible preferred stock and stockholders' equity (deficit) | 408,456 | 75,516 |
Condensed Statements of Cash Flows (Unaudited)
(in thousands)
| Description | Nine months ended September 30, 2026 | Nine months ended September 30, 2025 |
|---|---|---|
| Cash flows from operating activities: | ||
| Net loss | (69,707) | (71,583) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Non-cash lease expense | 442 | 323 |
| Depreciation | 152 | 200 |
| Stock-based compensation expense | 6,657 | 4,977 |
| Change in fair value of preferred stock tranche liability | — | 1,674 |
| Change in fair value of derivative liability | (5,148) | |
| Amortization of debt discount and issuance costs and non-cash interest expense | 975 | — |
| Loss on extinguishment of debt | 4,581 | — |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses and other current assets | (833) | (1,775) |
| Other assets | 92 | 266 |
| Accounts payable | 70 | (246) |
| Accrued expenses and other current liabilities | (4,694) | 3,848 |
| Operating lease liabilities | (461) | (314) |
| Net cash used in operating activities | (67,874) | (62,630) |
| Cash flows from investing activities: | ||
| Purchases of property and equipment | (146) | (135) |
| Net cash used in investing activities | (146) | (135) |
| Cash flows from financing activities: | ||
| Proceeds from issuance of redeemable convertible preferred stock, net of issuance costs paid | — | 149,379 |
| Proceeds from issuance of convertible notes, net of issuance costs paid | 34,832 | — |
| Proceeds from issuance of common stock upon exercise of stock options | 496 | 108 |
| Proceeds from IPO, net of underwriting discounts, commissions and offering costs paid | 364,380 | — |
| Net cash provided by financing activities | 399,708 | 149,487 |
| Net increase in cash, cash equivalents and restricted cash | 331,688 | 86,722 |
| Cash, cash equivalents and restricted cash, beginning of period | 69,721 | 17,918 |
| Cash, cash equivalents and restricted cash, end of period | 401,409 | 104,640 |
| Supplemental cash flow information: | ||
| Right-of-use assets obtained in exchange for operating lease liabilities | 959 | 310 |
| Supplemental disclosure for non-cash investing and financing activities: | ||
| Settlement of Series B redeemable convertible preferred stock tranche liability | — | 2,132 |
| Conversion of redeemable convertible preferred stock to common stock upon IPO | 288,582 | — |
| Conversion of convertible notes to common stock upon IPO | 35,240 | — |
| Reclassification from liability to equity upon vesting of early exercised stock options | — | 250 |
Amounts as printed on the EDGAR/iXBRL face — (in thousands, except per share amounts); (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 ↗