Q2 FY2026 EarningsQ2 FY26 results beat consensus on earnings while remaining pre-revenue: Net Loss of $23.5M was narrower than the $27.7M expected, resulting in a GAAP EPS of -$0.46 vs. -$0.65 consensus. The earnings beat was driven by higher-than-expected interest income of $4.8M, offsetting increased R&D and G&A spend. With cash reserves of $819.9M following a May follow-on offering, the company has extended its runway into 2030, supporting multiple Phase 3 readouts for lead candidate VDPHL01.