Atrium Therapeutics — Third Quarter 2026 Earnings Summary

Financial Performance:

• Collaboration revenue was $15.3 million for the three months ended September 30, 2026, compared to $12.3 million in the same period of 2025, representing a year-over-year increase.
• Research and development (R&D) expenses were $13.8 million for the quarter, up from $9.7 million in the prior year period.
• General and administrative (G&A) expenses were $8.2 million for the quarter, compared to $2.8 million in the prior year period.
• Total operating expenses were $22.0 million for the quarter, compared to $12.6 million in the prior year period.
• Net loss was $4.3 million for the quarter, compared to a net loss of $0.04 million in the prior year period.
• Net loss per share was $0.25 for the quarter, compared to $0.00 in the prior year period.
• Cash, cash equivalents, and short-term investments totaled $232.1 million as of September 30, 2026.
• Pro-forma cash balance as of September 30, 2026, was $293.6 million, including the $15.0 million milestone payment from Bristol Myers Squibb and net proceeds from a $50.0 million private placement.
• Deferred revenue was $42.4 million total ($9.4 million current, $32.9 million long-term) as of September 30, 2026, compared to $50.3 million ($21.6 million current, $28.7 million long-term) as of December 31, 2025.
• Total assets were $264.0 million as of September 30, 2026, compared to $8.4 million as of December 31, 2025.
• Total liabilities were $59.0 million as of September 30, 2026, compared to $71.1 million as of December 31, 2025.

Guidance and Future Outlook:

• The Company estimates its pro-forma cash balance will fund operations through 2028.
• Initial proof of concept data from the Corventis Phase 1/2 trial is expected in the second half of 2027.
• An Investigational New Drug (IND) application for ATR 1086 is expected to be filed in 2027.
• The Company plans to advance two undisclosed pipeline programs for rare cardiomyopathy targets, including selecting the next development candidate in 2027.

Business Segments and Product Lines:

• ATR 1072: First patient dosed in the Corventis Phase 1/2 clinical trial for PRKAG2 syndrome; nonclinical data showed reversal of cardiac glycogen accumulation and improvement in ECG parameters including PR interval.
• ATR 1086: Being developed for PLN cardiomyopathy; IND application anticipated in 2027.
• Collaboration Revenue: Primarily driven by a $15.0 million milestone earned under the research collaboration and license agreement with Bristol Myers Squibb (BMS).
• Pipeline: Includes two undisclosed research targets in rare cardiomyopathies.

Other Key Points:

• Closed a $50 million private placement with leading institutional investors.
• Received a $15.0 million milestone payment from Bristol Myers Squibb in August 2026.
• Corventis trial is a Phase 1/2 open-label, multicenter study expected to enroll approximately 37 participants.
• The Company transitioned from a former parent structure to a public company, evidenced by the issuance of 16,401 shares of common stock as of September 30, 2026, compared to zero shares outstanding as of December 31, 2025.