LONA Stock — LeonaBio Inc.: Cash, EV, Pipeline

What they do

We are a clinical-stage biopharmaceutical company dedicated to the development of novel therapeutics for high unmet medical needs, including treatment-resistant metastatic breast cancer and amyotrophic lateral sclerosis (“ALS”), with the goal of improving patients’ lives.

Source: 10-K FY2025 via SEC EDGAR

Share price

$3.81

Market cap

$35.9M

Cash

$51.1M

Enterprise value

-$15.2M

Balance sheet

Cash	$51.1M
Debt	$0.0M
Net cash	$51.1M
Enterprise value	-$15.2M
Basic shares	9.4M shares
Fully diluted shares	68.0M shares
Fully diluted market cap	$259.2M
Cash per share	$5.42
Quarterly burn	$17.0M
Cash runway	3.0 quarters

Cash figures as of 2026-06-30. Database snapshot: 2026-11-11.

Share structure

Common

9.4M

Pre-funded warrants

14.3M

Options

—

RSUs

—

Warrants

44.3M

Converts

0.0M

Conv preferred

0.0M

ESPP reserve

—

FDSO

68.0M

Cap table as of 2026-08-04.

Price history

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Next catalyst

Lasofoxifene in combination with abemaciclib · May 13 - Jun 24 in 6 mo · Phase 3 · Metastatic Breast Cancer

Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
May 13 - Jun 24 in 6 mo	Lasofoxifene in combination with abemaciclib	Phase 3	Metastatic Breast Cancer	—
GUIDEDEst. Sep 30, 2027 in 8 mo half midpoint	lasofoxifene ELAINE-3 Phase 3 in ER+, HER2-negative, ESR1-mutated metastatic breast cancer	Phase 3	ER+	H2 2027

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

Lasofoxifene

Phase 3 · Active Modality: selective estrogen receptor modulator (SERM), oral

Target Estrogen receptor

Partnerships Sermonix Pharmaceuticals: exclusive license to oral lasofoxifene (2015); Duke University: IP in ESR1 mutations (2016). Pfizer returned global rights to Ligand (2011); Sermonix in-licensed from Ligand

Indications

Metastatic ER+/HER2- breast cancer with ESR1 mutation (post-CDK4/6i) (Phase 3)

Catalysts

— H2 2027

Status note Pivotal Phase 3 ELAINE-3 (with abemaciclib vs fulvestrant + abemaciclib) agreed with FDA following EOP2 meeting; Fast Track designation granted May 2019. Robust legacy Pfizer database (23 Phase 1, 11 Phase 2, 6 Phase 3 trials).

ATH-1105

Phase 1 · Active Modality: orally available, brain-penetrant small molecule (HGF system modulator)

Target Neurotrophic HGF/MET system

Indications

Amyotrophic lateral sclerosis (ALS) (Phase 1)

Catalysts

— 2026

Status note First-in-human Phase 1 in 80 healthy volunteers completed November 2024.

ATH-1020

Phase 1 · Active Modality: small molecule (HGF system modulator)

Target Neurotrophic HGF/MET system

Indications

Neuropathic pain (preclinical diabetic neuropathic pain models) (Phase 1)

Status note IND accepted January 2022; single-ascending dose escalation portion of Phase 1 in healthy volunteers completed September 2022. Earlier-stage than ATH-1105.

Per-asset detail extracted from the 10-Q filed 2026-08-14. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	Lasofoxifene in combination with abemaciclib
Lead indication	Metastatic Breast Cancer
Lead phase	Phase 3
Active trials	1

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT05696626	Phase 3	Recruiting	Sponsor	LeonaBio	—	Metastatic Breast Cancer	—

Sponsor-matched active trials from ClinicalTrials.gov (1 as sponsor, 0 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 1 active trials for LeonaBio on ClinicalTrials.gov

Specialist fund holders

Tracked specialist funds: ADAR1 Capital Management, Aisling Capital, Ally Bridge Group, Avoro Capital Advisors, BVF Partners, Baker Bros. Advisors, Boxer Capital, Braidwell LP, Casdin Capital, Cormorant Asset Management, DAFNA Capital, Deerfield Management, EcoR1 Capital, Frazier Life Sciences, Great Point Partners, Ikarian Capital, Logos Global Management, OrbiMed Advisors, Perceptive Advisors, RA Capital Management, RTW Investments, Sphera Biotech, Stonepine Capital, Tang Capital Partners, Vivo Capital.

Fund	Shares	Q/Q change	% of portfolio	Filing
Perceptive Advisors	1,859,322	no change	0.27%	2026-08-14
ADAR1 Capital Management	777,100	+49,619	0.34%	2026-08-14

Specialist-fund positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

Latest news

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LONA — LeonaBio Inc. ☆

What they do

Balance sheet

Share structure

Price history

Next catalyst

Upcoming catalysts

Pipeline assets

Pipeline

Active clinical trials

Specialist fund holders

Latest news

LONA — LeonaBio Inc.