Kalaris Therapeutics | 10-Q: FY2025 Q3 Revenue: USD 0

Revenue: As of FY2025 Q3, the actual value is USD 0.

EPS: As of FY2025 Q3, the actual value is USD -0.64.

EBIT: As of FY2025 Q3, the actual value is USD -13.59 M.

Segment Revenue

• Total Revenue: The company has not generated any revenue from product sales as of the reporting period.

Operational Metrics

• Net Loss: The company reported a net loss of $33.4 million for the nine months ended September 30, 2025, compared to a net loss of $47.1 million for the same period in 2024.
• Operating Expenses: Total operating expenses were $35.4 million for the nine months ended September 30, 2025, a decrease from $44.6 million for the same period in 2024.
• Research and Development Expenses: R&D expenses were $23.6 million for the nine months ended September 30, 2025, down from $41.2 million in 2024.
• General and Administrative Expenses: G&A expenses increased to $11.8 million for the nine months ended September 30, 2025, from $3.4 million in 2024.

Cash Flow

• Net Cash Used in Operating Activities: The company used $31.3 million in net cash for operating activities for the nine months ended September 30, 2025, compared to $12.8 million in 2024.
• Net Cash Used in Investing Activities: The company used $34.7 million in investing activities for the nine months ended September 30, 2025, primarily due to purchases of short-term investments.
• Net Cash Provided by Financing Activities: The company generated $107.3 million from financing activities for the nine months ended September 30, 2025, primarily from cash acquired in the merger with AlloVir.

Unique Metrics

• Cash, Cash Equivalents, and Short-term Investments: As of September 30, 2025, the company had $77.0 million in cash, cash equivalents, and short-term investments.

Future Outlook and Strategy

• Core Business Focus: The company plans to continue the development of TH103, a novel anti-VEGF drug, with ongoing Phase 1a and Phase 1b/2 clinical trials in patients with neovascular Age-related Macular Degeneration (nAMD). Initial clinical data from the Phase 1a trial is expected by the end of 2025, and data from the Phase 1b/2 trial is expected in the second half of 2026.
• Non-Core Business: The company plans to expand the development of TH103 into other VEGF-mediated retinal diseases such as Diabetic Macular Edema, diabetic retinopathy, and Retinal Vein Occlusion.
• Priority: The company emphasizes the importance of securing additional funding to continue its operations and development programs, with a focus on strategic collaborations and licensing arrangements to support its financial needs.