Q2 FY2026 EarningsQ2 FY26 results beat consensus on earnings but missed on operational cash flow, with revenue remaining at zero as expected for this clinical-stage biotech. Diluted EPS was -$0.36 vs. -$0.79 expected, primarily driven by a $40M milestone gain from the sale of legacy assets. While research and development (R&D) expenses rose 63% YoY to $65.5M, the company maintained a robust cash position of $1.1B, providing over 12 months of runway.