Damora Therapeutics, Inc. DMRA
We are a biopharmaceutical company developing therapies for the treatment of hematologic disorders. In our previously announced Asset Acquisition (as defined below), we bolstered our pipeline with the addition of three product candidates designed to treat myeloproliferative neoplasms ("MPNs"), a group of related, chronic disorders of the bone marrow. Our lead product candidate, DMR-001, targets mutant forms of the calcium binding protein calreticulin ("CALR"), which are collectively known as mutCALR. We have exercised our Option to license exclusive worldwide development and commercialization rights to DMR-001 from Paragon Therapeutics, Inc. ("Paragon"), pursuant to the Antibody Discovery and Option Agreement, dated as of October 7, 2025, by and among Paragon, Paramora Holding LLC ("Paramora") and Pre-Acquisition Damora (as defined below) (the "Paragon Option Agreement"). We intend to develop DMR-001 for the treatment of essential thrombocythemia ("ET"), an MPN associated with the overproduction of platelets, and myelofibrosis ("MF"), an MPN involving the overproliferation of blood cells and deposition of fibrous material in the bone marrow and spleen. Approximately 25% and 35% of cases of ET and MF, respectively, are caused by mutCALR rather than mutations in Janus-associated kinase 2 ("JAK2"). In contrast to marketed therapies for ET and MF, DMR-001 is designed to selectively target cells that express mutCALR while avoiding the adverse effects associated with non-specific cytoreductive drugs. Furthermore, DMR-001 was designed to have increased affinity, potency and a prolonged half-life when compared with other antibodies in development that target mutCALR. We believe that the potential combination of increased clinical activity and improved pharmacokinetics of DMR-001 positions it as a potential best-in-class therapy for ET and MF. We also have the option to license exclusive worldwide development and commercialization rights from Paragon of two other mutCALR-targeting product candidates, DMR-002 and DMR-003, pursuant to the Paragon Option Agreement. We intend to submit an Investigational New Drug Application ("IND") or Clinical Trial Application ("CTA") for DMR-001 and DMR-002 in mid-2026 and the second half of 2026, respectively, and for DMR-003 in 2027. Pursuant to the Paragon Option Agreement, we have engaged Paragon to execute a mutually agreed research plan for DMR-001, DMR-002, and DMR-003 aimed at producing potential product candidates to be licensed for further development, manufacture and commercialization by us. The research plan activities performed by Paragon are overseen by a joint development committee comprised of our employees and employees of Paragon.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| R&D | $26.9M | $6.4M | $23.8M | $48.2M | $38.5M | $24.6M | $19.7M | — |
| SG&A | $9.7M | $10.5M | $12.7M | $13.0M | $13.7M | $9.0M | $2.4M | — |
| Total operating expenses | $210.9M | $22.3M | $39.9M | $61.2M | $52.2M | $33.6M | $39.0M | — |
| Operating income | -$210.9M | -$22.3M | -$39.9M | -$61.2M | -$52.2M | -$33.6M | $39.0M | — |
| Interest expense | $1.2M | $844.0K | $1.7M | $722.0K | $156.0K | — | — | — |
| Pre-tax income | -$209.8M | -$21.4M | -$38.3M | -$61.6M | -$51.8M | -$34.8M | -$36.5M | — |
| Income tax | $50.0K | $41.0K | $0 | $0 | $0 | $0 | $0 | — |
| Net income | -$209.8M | -$21.4M | -$38.3M | -$61.6M | -$51.8M | -$34.8M | -$36.5M | — |
| EPS, basic | 3.98 | -18.53 | -36.08 | -2.43 | -2.05 | — | — | — |
| EPS, diluted | 3.98 | -18.53 | -36.08 | -2.43 | -2.05 | -7.62 | -161.82 | — |
| Shares, diluted (wtd. avg.) | $1.4M | $1.2M | $1.1M | $25.4M | $25.3M | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $257.6M | $14.2M | $21.5M | $32.8M | $62.6M | $163.8M | $11.5M | $31.1M |
| Short-term investments | — | — | $11.7M | $27.4M | $37.6M | — | — | — |
| Total current assets | $260.4M | $16.8M | $36.8M | $63.9M | $110.1M | $169.3M | $56.1M | — |
| Property, plant and equipment | $36.0K | $57.0K | $78.0K | $357.0K | $203.0K | — | — | — |
| Total assets | $260.5M | $17.1M | $38.2M | $73.2M | $122.2M | $171.6M | $56.6M | — |
| Accounts payable | $444.0K | $377.0K | $1.7M | $3.4M | $1.5M | $2.9M | $3.3M | — |
| Total current liabilities | $20.1M | $1.2M | $5.8M | $11.1M | $4.5M | $5.6M | $7.9M | — |
| Total liabilities | $20.1M | $1.3M | $5.9M | $11.4M | $5.0M | $6.1M | $8.1M | — |
| Retained earnings | -$487.4M | -$277.5M | -$256.1M | -$217.7M | -$156.1M | -$104.4M | -$69.5M | — |
| Total equity | $240.4M | $15.8M | $32.3M | $61.8M | $117.2M | $165.5M | -$71.1M | -$33.8M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$6.7M | -$18.6M | -$36.9M | -$42.9M | -$52.3M | -$38.2M | -$19.3M | — |
| Depreciation and amortisation | $22.0K | $21.0K | $269.0K | $42.0K | $20.0K | — | — | — |
| Stock-based compensation | $998.0K | $3.2M | $5.4M | $5.6M | $4.5M | $982.0K | — | — |
| Capital expenditure | — | — | — | $196.0K | $223.0K | — | — | — |
| Investing cash flow | -$17.4M | $11.7M | $22.3M | $12.4M | -$48.0M | — | -$326.0K | — |
| Financing cash flow | $266.8M | — | $2.9M | $507.0K | — | $187.4M | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-191429.
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