Elekta Therapeutics Reports Third-Quarter Loss of $3.47 per Share
Key Facts
Elekta Therapeutics reported a net loss of $3.47 per share in the third quarter, according to its filing for the three months ended September 30, 2026. The company announced its quarterly results on November 12, 2026. Net loss was $23.928 million, compared with $18.092 million in the same period a year earlier, an increase of 32%. The figures reflect the company’s continued losses as it expands spending to develop its therapeutic programs. Results also showed higher research and administrative expenses compared with the third quarter of 2025.
Research and development expenses were $17.3 million in the third quarter, compared with $14.9 million in the same period of 2025. The company attributed the increase mainly to higher personnel costs, including stock-based compensation related to its initial public offering. It also cited development of ALA-822 as contributing to higher research expenses. General and administrative expenses rose to $7.8 million from $2.1 million a year earlier. The company linked the increase to stock-based compensation related to the offering, an increase in headcount and higher fees for services provided by third parties.
On funding, cash, cash equivalents and marketable securities totaled $402.5 million as of September 30, 2026. The company said this balance was expected to fund its planned operations through 2029. Elekta completed a $350 million initial public offering in September 2026 to fund development of its portfolio targeting SIRP proteins. The company thus combined widening operating losses with a funding balance it said covered its plans for several years. This liquidity provided financial backing for its clinical programs and announced timelines.
In its epsoproparte program for treating malignancy-associated hemophagocytic lymphohistiocytosis, the company said 12 patients received first-line treatment in a Phase 1b trial. They recorded an overall survival rate of 100% after eight weeks, and the overall response rate was also 100% at the Week 4 assessment. The company said its registered program for patients with secondary hemophagocytic lymphohistiocytosis consists of the Phase 2/3 SORPASS trial for newly diagnosed, treatment-naive patients and the retrospective COMPASS natural history study, which aims to provide an external comparison group. In a group of 8 patients with T-cell or B-cell lymphomas, the company reported an objective tumor response in all of them, including complete responses in 7. The group included patients from the Phase 1b trial and the expanded access program.
For ALA-822, the company began its placebo-controlled, randomized Phase 1 trial in healthy volunteers in September 2026. Elekta expects healthy-volunteer data in the first half of 2027. It plans to start a patient trial in mid-2027, subject to regulatory approval. It also expects to complete enrollment in the Phase 2/3 SORPASS trial during the second half of 2027. For epsoproparte, the company is awaiting initial data in the second half of 2027 from its Phase 1 trial in patients with relapsed or refractory T-cell or NK-cell malignancies.
For the broader period, net loss totaled about $72.840 million in the first nine months of 2026, compared with $43.453 million in the first nine months of 2025. These figures place the third-quarter results within a cumulative loss trajectory for the year, alongside higher spending on development, personnel and services. The company linked its upcoming plans to several clinical milestones scheduled for 2027. These include ALA-822 data and the start of its patient trial if the necessary approvals are obtained, as well as completion of enrollment in the SORPASS trial. The company is also awaiting initial epsoproparte data in the second half of the same year.