Kardigan Q2 net loss widens to $116.2 million from $57.4 million a year earlier
Kardigan, a clinical-stage company with no reported revenue, posted a second-quarter 2026 net loss of $116.2 million, up from $57.4 million a year earlier, mainly due to higher research and development costs. The loss per share was $4.61, compared with $4.64 a year earlier, as the share count rose after its June initial public offering. Cash, cash equivalents and investments were $660.7 million at June 30, 2026.
Key points
- Net loss was $116.2 million for the quarter ended June 30, 2026, versus $57.4 million a year earlier.
- Research and development expenses rose to $56.4 million from $35.8 million, driven by clinical trial costs and headcount.
- A $43.5 million change in fair value of contingent milestone liabilities was included in operating expenses.
- Cash, cash equivalents and investments were $660.7 million at June 30, 2026, after net proceeds from the June 2026 IPO.
The filing
Written by AI on Nov 9, 2026, 11:48 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 11, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.