COAG
COAG
Hemab Therapeutics Holdings, Inc. Common StockIncome Statement
| Period | Revenue | Operating Expense | Net Income | Net Profit Margin | Earnings Per Share | EBITDA |
|---|---|---|---|---|---|---|
| Q1-2026 | $0 | $23.61M | $-22.69M | 0% | $-0.51 | $-23.54M |
What's going well?
The company is investing heavily in research and development ($19.5 million), which could lead to future products or breakthroughs. No unusual charges or debt costs are weighing down results.
What's concerning?
There were no sales at all this quarter, but expenses remain high, leading to a $22.7 million loss. The business is burning cash with no sign of revenue.
Balance Statement
| Period | Cash & Short-term | Total Assets | Total Liabilities | Total Equity |
|---|---|---|---|---|
| Q1-2026 | $163.53M | $175.26M | $373.88M | $-198.62M |
What's financially strong about this company?
COAG has a huge cash cushion and almost no debt, so it can easily pay its bills in the short term. Most assets are high quality and liquid, making it flexible in a crisis.
What are the financial risks or weaknesses?
The company owes much more than it owns, with negative equity of $198.6 million and a long history of losses. This raises major questions about its long-term survival and ability to attract investors.
Cash Flow Statement
| Period | Net Income | Cash From Operations | Cash From Investing | Cash From Financing | Net Change | Free Cash Flow |
|---|---|---|---|---|---|---|
| Q1-2026 | $-22.69M | $-21.58M | $-15.85M | $-460K | $-38.11M | $-21.7M |
What's strong about this company's cash flow?
The company still has nearly $50 million in cash and isn't taking on new debt or diluting shareholders. Capital spending is low, so most cash burn is from operations, not big investments.
What are the cash flow concerns?
COAG is losing real cash quickly, burning $21.7 million this quarter alone. With no sign of positive cash flow and no outside funding, the current cash balance could run out in a couple of quarters if nothing changes.
5-Year Trend Analysis
A comprehensive look at Hemab Therapeutics Holdings, Inc. Common Stock's financial evolution and strategic trajectory over the past five years.
Hemab’s main strengths are its strong cash position relative to near-term obligations, minimal reliance on traditional debt, and a highly focused, innovation-driven strategy in a specialized and underserved therapeutic area. The asset base is clean and liquid, with limited exposure to goodwill or inventory risk. Scientifically, the company benefits from a proprietary antibody platform, a pipeline aimed at rare disorders with meaningful unmet need, and an experienced team in hematology. Orphan drug opportunities offer the potential for long market exclusivity and attractive economics if the therapies are approved.
Key risks include the complete absence of revenue, large recurring losses, and heavy cash burn, all of which make Hemab dependent on ongoing access to external financing. Negative equity and accumulated deficits highlight the amount of capital already consumed, and future dilution is a realistic possibility if more funds are needed. Clinical and regulatory risks are substantial: setbacks for HMB-001, HMB-002, or other pipeline assets could significantly impair the company’s prospects. Competitive risks from larger players and emerging technologies, as well as future pricing and reimbursement pressures in rare diseases, also loom in the background.
Looking ahead, Hemab’s trajectory will be driven far more by clinical and regulatory milestones than by near-term financial metrics. In the short to medium term, the company appears to have enough liquidity to pursue its planned trials, but not yet a path to self-sustaining cash generation. Positive data from ongoing studies, successful advancement of the pipeline, and the ability to secure partnerships or additional capital on acceptable terms would materially improve the long-term picture. Conversely, adverse trial outcomes or a difficult funding environment could force strategic retrenchment. Overall, the outlook is high-risk and high-uncertainty but potentially high-reward, typical of a concentrated, early-stage biotech focused on novel therapies for rare diseases.
About Hemab Therapeutics Holdings, Inc. Common Stock
https://www.hemab.comHemab Therapeutics Holdings, Inc. is a clinical-stage biotechnology firm dedicated to transforming the treatment of blood coagulation disorders. Operating in the United States and Denmark, its mission is to enhance life and resilience for patients through innovative therapies. The company's leading pipeline candidate is HMB-001, a bispecific antibody.
Income Statement
| Period | Revenue | Operating Expense | Net Income | Net Profit Margin | Earnings Per Share | EBITDA |
|---|---|---|---|---|---|---|
| Q1-2026 | $0 | $23.61M | $-22.69M | 0% | $-0.51 | $-23.54M |
What's going well?
The company is investing heavily in research and development ($19.5 million), which could lead to future products or breakthroughs. No unusual charges or debt costs are weighing down results.
What's concerning?
There were no sales at all this quarter, but expenses remain high, leading to a $22.7 million loss. The business is burning cash with no sign of revenue.
Balance Statement
| Period | Cash & Short-term | Total Assets | Total Liabilities | Total Equity |
|---|---|---|---|---|
| Q1-2026 | $163.53M | $175.26M | $373.88M | $-198.62M |
What's financially strong about this company?
COAG has a huge cash cushion and almost no debt, so it can easily pay its bills in the short term. Most assets are high quality and liquid, making it flexible in a crisis.
What are the financial risks or weaknesses?
The company owes much more than it owns, with negative equity of $198.6 million and a long history of losses. This raises major questions about its long-term survival and ability to attract investors.
Cash Flow Statement
| Period | Net Income | Cash From Operations | Cash From Investing | Cash From Financing | Net Change | Free Cash Flow |
|---|---|---|---|---|---|---|
| Q1-2026 | $-22.69M | $-21.58M | $-15.85M | $-460K | $-38.11M | $-21.7M |
What's strong about this company's cash flow?
The company still has nearly $50 million in cash and isn't taking on new debt or diluting shareholders. Capital spending is low, so most cash burn is from operations, not big investments.
What are the cash flow concerns?
COAG is losing real cash quickly, burning $21.7 million this quarter alone. With no sign of positive cash flow and no outside funding, the current cash balance could run out in a couple of quarters if nothing changes.
5-Year Trend Analysis
A comprehensive look at Hemab Therapeutics Holdings, Inc. Common Stock's financial evolution and strategic trajectory over the past five years.
Hemab’s main strengths are its strong cash position relative to near-term obligations, minimal reliance on traditional debt, and a highly focused, innovation-driven strategy in a specialized and underserved therapeutic area. The asset base is clean and liquid, with limited exposure to goodwill or inventory risk. Scientifically, the company benefits from a proprietary antibody platform, a pipeline aimed at rare disorders with meaningful unmet need, and an experienced team in hematology. Orphan drug opportunities offer the potential for long market exclusivity and attractive economics if the therapies are approved.
Key risks include the complete absence of revenue, large recurring losses, and heavy cash burn, all of which make Hemab dependent on ongoing access to external financing. Negative equity and accumulated deficits highlight the amount of capital already consumed, and future dilution is a realistic possibility if more funds are needed. Clinical and regulatory risks are substantial: setbacks for HMB-001, HMB-002, or other pipeline assets could significantly impair the company’s prospects. Competitive risks from larger players and emerging technologies, as well as future pricing and reimbursement pressures in rare diseases, also loom in the background.
Looking ahead, Hemab’s trajectory will be driven far more by clinical and regulatory milestones than by near-term financial metrics. In the short to medium term, the company appears to have enough liquidity to pursue its planned trials, but not yet a path to self-sustaining cash generation. Positive data from ongoing studies, successful advancement of the pipeline, and the ability to secure partnerships or additional capital on acceptable terms would materially improve the long-term picture. Conversely, adverse trial outcomes or a difficult funding environment could force strategic retrenchment. Overall, the outlook is high-risk and high-uncertainty but potentially high-reward, typical of a concentrated, early-stage biotech focused on novel therapies for rare diseases.
CEO
Benny Sorensen
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