Zura Bio reported a net loss of $20.0 million, or $0.21 per share, for the nine‑month period ended September 30 2025, a narrowing from the $22.9 million loss and $0.26 per share reported for the same period in 2024. Cash and cash equivalents stood at $139.0 million, down from $170.6 million at the end of the prior quarter, reflecting continued investment in its Phase 2 clinical programs.
Research and development expenses rose to $11.9 million, up from $6.0 million in Q3 2024, driven by patient enrollment, contract research organization fees, and manufacturing costs for tibulizumab in systemic sclerosis and hidradenitis suppurativa. General and administrative costs fell to $7.6 million, largely because a one‑time non‑cash share‑based compensation charge recorded in the prior quarter was no longer present.
Net cash used in operating activities for the nine months to September 30 was $42.5 million, giving the company a burn rate that supports a runway through 2027. Management believes the current cash balance will fund operations until that year, but the high burn rate signals the need for additional financing beyond 2027.
Both tibulizumab studies advanced during the quarter. "Both tibulizumab studies advanced during the quarter. We continue to focus on disciplined study execution and patient enrollment across these important disease areas, with the aim of generating meaningful data," said Kiran Nistala, chief medical officer. Topline data from the systemic sclerosis trial are expected in Q4 2026, while the hidradenitis suppurativa study continues to enroll patients. The dual‑pathway antibody targets IL‑17A and BAFF, positioning it against existing therapies such as Humira, Cosentyx, and Bimzelx.
Zura Bio’s management reiterated that it can fund operations through 2027 but will need to raise additional capital thereafter. The company has previously secured funding through private placements and an at‑the‑market program, and it remains focused on advancing its pipeline assets, including crebankitug and torudokimab, which have completed Phase 1/1b studies.
The consensus estimate for Q3 2025 EPS was $–0.19, so the reported $–0.21 per share represents a miss of $0.02, or about 10 %. The miss is attributable to higher R&D and G&A expenses relative to the prior year, offsetting the narrowing net loss.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.