Zura raises $135M, extends runway to 2028; Q1 loss up 39% on higher trial costs

Filed May 7, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 8, 2025 · ~2 min read

Key Changes

• high

  February 2026 equity offering raised $134.6M net, boosting cash to $225.6M and extending operating runway from 2027 to at least end of 2028, reducing near-term financing risk.

  MD&A: Liquidity verify on EDGAR →
• high

  Q1 2026 net loss increased 39% to $24.2M from $17.4M year-over-year, driven by $4.3M higher R&D expenses for tibulizumab Phase 2 trials in systemic sclerosis and hidradenitis suppurativa.

  MD&A: Operating Results verify on EDGAR →
• high

  New risk factors warn of FDA/EMA disruptions from funding shortages and furloughs, plus tariff exposure via suppliers in Italy, Netherlands, UK and WuXi Biologics cell line license in China.

  Risk Factors verify on EDGAR →