Kailera Therapeutics

Q2 FY2026 EarningsQ2 FY26 results were slightly ahead of consensus on the bottom line, with a GAAP net loss of -$111.3M vs. the -$113.0M expected. While R&D expenses surged to $101.1M driven by advancing the ribupatide Phase 3 KaiNETIC program and U.S. Phase 2b trials, the company maintained a robust cash position of $1.17B. A key positive was the IND for ribupatide oral becoming active, with Phase 3 initiation targeted for H1 2027, supporting a cash runway into mid-2028.