APGE Apogee Therapeutics
Price Chart
Executive Summary
Apogee Therapeutics reported Q1 2026 EPS of -$1.03, a 9% beat vs consensus of -$1.13, with no revenue. The company highlighted durable 52-week Phase 2 data for zumilokibart in atopic dermatitis and a $403M upsized equity offering extending cash runway into 2029. Net loss widened to $74.1M from $55.3M YoY on higher R&D and G&A spend, but the pipeline catalyst (Phase 2 Part B data in Q2 2026 and Phase 3 initiation in 2H 2026) overshadows the loss expansion.
Actionable Insight
The EPS beat and strong cash runway are positive, but the stock's move will hinge on APEX Phase 2 Part B data expected in Q2 2026. Monitor for the Part B readout and any updates on asthma/EoE trial designs later this year. The $403M offering was already priced in post-March 2026 readout; near-term focus is on execution toward Phase 3.
Key Facts
- EPS of -$1.03 beat consensus of -$1.13 by 9%
- No revenue (pre-commercial biotech)
- Cash position $1.3B as of March 31, 2026, up from $902.9M at Dec 31, 2025, following $403M upsized equity offering
- Net loss widened to $74.1M from $55.3M YoY on higher R&D ($60.8M vs $46.4M) and G&A ($22.0M vs $16.7M) expenses
- APEX Phase 2 Part A 52-week data showed durable maintenance with 3- and 6-month dosing; 75-85% of Week 16 EASI-75 responders maintained at Week 52
- APEX Phase 2 Part B 16-week data expected in Q2 2026; Phase 3 initiation in AD expected in 2H 2026
- Positive Phase 1b asthma data reported January 2026; expansion into asthma and EoE trials planned later this year
- Cash runway into 2029 supports BLA filing for zumilokibart in AD
Financial Impact
EPS beat of 9% on consensus -$1.13; cash position strengthened to $1.3B from $902.9M
Risk Factors
- Clinical trial failure risk — Part B data may not replicate Part A durability
- Dilution from $403M equity offering already completed; no further near-term dilution expected
- Widening net loss trajectory with no near-term revenue; reliance on capital markets for future funding
- Competitive landscape in AD (DUPIXENT, lebrikizumab, others)
Market Snapshot
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3291754 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
|
May 27, 2026
13d ago
|
8-K
| $77.75 $78.71 | ▲ +1.23% | ▲ +0.03% | $85.00 (+9.32%) |
|
May 27, 2026
13d ago
|
8-K
| $77.75 $78.71 | ▲ +1.23% | ▲ +0.03% | $85.00 (+9.32%) |
|
May 27, 2026
13d ago
|
Press Release
| $77.75 $78.71 | ▲ +1.23% | ▲ +0.03% | $85.00 (+9.32%) |
|
May 27, 2026
13d ago
|
Press Release
| $77.75 $78.71 | ▲ +1.23% | ▲ +0.03% | $85.00 (+9.32%) |
|
May 26, 2026
14d ago
|
Press Release
| $77.75 $78.71 | ▲ +1.23% | ▲ +0.03% | $85.00 (+9.32%) |
|
May 16, 2026
25d ago
|
Insider Cluster
| $78.75 $82.81 | ▲ +5.16% | ▲ +3.54% | $85.00 (+7.94%) |
|
May 13, 2026
27d ago
|
144
| $83.94 $81.39 | ▼ −3.04% | ▼ −2.90% | $85.00 (+1.26%) |
|
May 11, 2026
29d ago
|
8-K
| $84.60 $78.75 | ▼ −6.91% | ▼ −6.83% | $85.00 (+0.47%) |
|
May 11, 2026
29d ago
|
Press Release
| $84.60 $78.75 | ▼ −6.91% | ▼ −6.83% | $85.00 (+0.47%) |
|
May 1, 2026
5w ago
|
Insider Cluster
| $80.75 $83.03 | ▲ +2.82% | ▲ +0.48% | $85.00 (+5.26%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Try SecBot Free Coming soon: SecBot Pro with alerts, watchlists, and API access