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Dec 31, 2025
Apogee Q4 2025 Earnings Report
Apogee reported fourth quarter and full year 2025 results, reflecting continued operating losses as it advanced its clinical-stage pipeline.
Key Takeaways
For the quarter ended December 31, 2025, Apogee reported a net loss of 255843000 and an operating loss of 285595000, driven by research and development expenses of 214712000 and general and administrative expenses of 70883000. The company ended the year with 131549000 in cash and cash equivalents.
Net loss for Q4 2025 was 255843000.
Operating loss totaled 285595000 for the quarter.
Research and development expenses were 214712000.
Cash and cash equivalents were 131549000 at December 31, 2025.
Forward Guidance
The company expects its existing cash, cash equivalents and marketable securities to fund operations for at least the next 12 months.
Positive Outlook
- Cash and cash equivalents of 131549000 at year-end 2025.
- Marketable securities of 598643000 as of December 31, 2025.
- Long-term marketable securities of 172730000.
- Sufficient liquidity projected for at least 12 months.
- Continued advancement of multiple clinical programs.
Challenges Ahead
- Net loss of 255843000 for the quarter.
- Operating loss of 285595000.
- No product revenue generated.
- Accumulated deficit of 561759000 as of December 31, 2025.
- Ongoing dependence on external financing.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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