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Marea and M2 Therapeutics post $52.2M half-year net loss as cash drops to $31.0M

🇺🇸 Lisata Therapeutics, Inc. (LSTA) · Thu 12 Nov 2026

Unaudited combined statements show R&D spending more than doubled in the first half of 2026, while cash and equivalents fell sharply with no new financing.

Marea Therapeutics and M2 Therapeutics have published unaudited condensed combined financial statements for the six months ended 30 June 2026. The item was issued by Lisata Therapeutics, Inc.

Research and development spending rose to $46.2M, from $21.0M in the same period a year earlier. The combined net loss for the half-year was $52.2M.

Cash and cash equivalents stood at $31.0M at the end of June, down from $75.3M at the end of 2025, a fall of about $44.3M. According to the summary of the filing, no new financing was raised in the period beyond small proceeds from stock option exercises.

The material available does not set out the reasons for the higher R&D spend, the programmes involved, or how the companies plan to fund operations. Those details are not covered here.

What it means for your team

  • Development-stage companies with a rising burn rate and falling cash may face pressure on timelines, which partners and suppliers may wish to keep in view.
  • Regulatory and market-access teams working with either company should check the full statements for any disclosed funding plans or programme changes.
  • The figures are unaudited and combined, so they should be read with that caveat.

Company's press release (SEC filing): Lisata Therapeutics, Inc. ↗

Article written by VigiEye from the official source (Lisata Therapeutics, Inc.). Claims are the company's own. AI-assisted; check the source before acting.

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