SAN DIEGO, California — August 5, 2026 — Leads & Copy — ImageneBio, Inc. (Nasdaq: IMA) reported its financial results for the second quarter ended June 30, 2026, and provided a company update, highlighting progress in its clinical development programs and leadership team appointments.
The company’s lead therapeutic candidate, olevaprubart (IMG-007), a potential first-in-class treatment targeting the OX40 pathway, is progressing in its Phase 2b ADAPTIVE trial for moderate-to-severe atopic dermatitis. The trial continues as planned under an amended protocol, and a long-term extension study has been initiated, actively enrolling patients.
Imagene is also planning to launch a Phase 2 clinical trial for olevaprubart in alopecia areata in 2026. Further scientific insights into olevaprubart will be presented at the 2026 European Academy of Dermatology and Venereology (EADV) Congress through two poster presentations.
The company has strengthened its executive team with the appointments of Yanina Grant-Huerta as Chief Financial Officer and Matt Robbins as General Counsel. Grant-Huerta brings 20 years of financial leadership experience in the biopharma sector, including previous roles at Atara Biotherapeutics and Amgen Inc. Robbins brings over 15 years of experience in corporate, securities, and transactional law for life sciences companies.
As of June 30, 2026, Imagene reported $136.2 million in cash, cash equivalents, and marketable securities, which is expected to fund operations into the first quarter of 2028. This financial position is bolstered by a $30 million private placement closed in April 2026.
Kristin Yarema, Ph.D., CEO of Imagene, expressed confidence in olevaprubart’s potential to become a leading OX40 signal blockade program. She highlighted the drug’s engineered differentiations aimed at strong efficacy and a favorable safety profile, particularly noting the potential benefits of direct, T cell-targeted yet non-T cell depleting approaches for conditions like atopic dermatitis and alopecia areata, which represent significant unmet medical needs.
Recent corporate updates include the appointment of Yanina Grant-Huerta as CFO in July 2026, who previously served as Chief Accounting Officer at Atara Biotherapeutics. Matt Robbins was also appointed General Counsel. Dr. Ben Porter-Brown transitioned to a consulting role at the end of July 2026, continuing to provide expertise as a consulting clinical development expert and strategic advisor.
Regarding the olevaprubart program, the ADAPTIVE trial for atopic dermatitis has implemented its protocol amendment, with topline data anticipated in the fourth quarter of 2027. The Independent Data Monitoring Committee (IDMC) for the ADAPTIVE study recommended the trial proceed without changes. As of July 31, 2026, no cases of Kaposi sarcoma have been observed across the olevaprubart program.
For the alopecia areata indication, Imagene remains on track to initiate a Phase 2 study in 2026, with initial data expected in 2028. The company will present posters on olevaprubart at the EADV Congress, focusing on optimizing its potential in immune-mediated diseases and early biomarker insights.
Financially, for the second quarter of 2026, Imagene reported $6.7 million in research and development expenses and $5.1 million in general and administrative expenses. The net loss for the quarter was $10.2 million, or $0.63 loss per share. The company’s cash position as of June 30, 2026, was $136.2 million, sufficient to fund planned operations into the first quarter of 2028.
Olevaprubart is an investigational monoclonal antibody targeting OX40, a receptor protein on activated human T cells. Its unique engineering aims to avoid T cell depletion and minimize safety risks while providing prolonged therapeutic activity. Imagene is a clinical-stage biotechnology company focused on developing therapeutics for immunological, autoimmune, and inflammatory diseases. For more information, visit www.imagenebio.com.
Source: ImageneBio, Inc.
