Q2 FY2026 EarningsQ2 FY26 results beat consensus on earnings but were mixed on operational cash flow: Net loss was $3.93M (EPS -$0.04) vs. the expected $5.62M loss (EPS -$0.06), primarily driven by a 55% YoY reduction in R&D expenses as Phase 2 trial activities wound down. Grant income of $3.5M met funding needs but declined 50% YoY, tracking lower clinical trial activity. Cash from operations was -$8.6M for the first half, trending slightly worse than the -$6.9M projected for the single quarter, though cash runway is secured into Q4 2027.