Earnings Releases·Nov 13, 2026, 4:30 PM ET

IRulya Therapeutics — Third Quarter 2026 Earnings Summary

**Financial Position & Operations:** Cash and investments surged to $105.2 million as of September 30, 2026, from $17.8 million at year-end 2025, while R&D expenses fell to $5.9 million from $8.1 million; however, G&A expenses rose to $9.0 million from $3.3 million, contributing to a Q3 net loss of $27.7 million ($2.31/share) versus $13.4 million ($49.83/share) in the prior year period.
**Strategic Restructuring & Capital Events:** The company completed a name change from Quince Therapeutics to IRulya Therapeutics, executed a 1-for-20 reverse stock split in June 2026, and converted Series C preferred stock to common stock, resulting in a weighted average share count increase to 12.0 million from 0.3 million in the prior year quarter.
**Clinical Pipeline & Outlook:** Management confirmed a cash runway extending through the end of 2028 to fund multiple Phase 2 readouts, including LAM-001 data for BOS in Q1 2027, PH-ILD in Q1 2028, and a new SAPH study planned to initiate in Q4 2026.
**Cost Realignment:** Strategic shifts included winding down the eDSP program, which reduced costs by $6.9 million, offset partially by $3.8 million in increased costs associated with the start-up of the PH-ILD Phase 2b trial.