Intensity Therapeutics, Inc. Common stock 2026 Q2 Earnings Call
Review the key takeaways and the transcript of this earnings call.
- Intensity Therapeutics reported second quarter 2026 financial results with research and development expenses of $1.8 million, up 19% from $1.5 million in the prior year period.
- Clinical trial expenses increased to $1.2 million from $936,000, primarily due to costs related to the phase three invincible three study and phase two invincible four study.
- General and administrative expenses were $1.3 million, a 7% increase from $1.2 million the prior year, driven by higher employee compensation and other expenses.
- Net loss for Q2 2026 was $3 million, a 19% increase from $2.5 million in Q2 2025.
- Cash and cash equivalents were $9.5 million as of June 30, 2026, with an additional $1.3 million raised post-quarter under the ATM facility.
- Cash burn from operating activities was $4.2 million in the first half of 2026, with an estimated monthly burn of approximately $1 million for the second half of 2026.
- The phase three invincible three study is an open-label, randomized controlled trial testing INT 236 monotherapy versus standard of care in second and third line treatment of soft tissue sarcomas, with enrollment paused in March 2025 and resumed in limited U.S. sites in April 2026.
- Over 60 qualified sites in eight countries were contracted or in negotiations before the pause, with site activations well advanced and strong investigator interest in restarting enrollment.
- The phase two invincible four study is a randomized controlled trial in early stage operable triple negative breast cancer, testing INT 236 prior to standard immuno chemotherapy versus standard of care alone.
- Enrollment in invincible four was paused to review dosing due to localized skin issues but resumed in Switzerland in July 2026 with a single injection protocol and opened a site in France.
- Preliminary data from 14 patients showed 71% pathological complete response (PCR) in the INT 236 cohort versus 42% in standard of care, with a trend toward fewer grade three adverse events in the INT 236 group.
- A phase one/two IT01 study published in the journal Ebiomedicine reported a 75% disease control rate and median overall survival of nearly 12 months in metastatic or refractory cancer patients treated with INT 236 alone.
- Patients receiving doses covering more than 40% of visible tumor burden had median overall survival of 18.7 months and nearly 20% showed abscopal effects with uninjected tumor shrinkage.
- The company raised over $23 million since Q2 2025, improving its balance sheet and operating flexibility.
- At the BIO International Conference, Intensity held over 20 meetings with potential strategic partners expressing interest in the science and clinical trials.
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Transcript
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Good morning, and welcome to the Intensity Therapeutics second quarter 2026 financial results conference call. Joining the call today is Lewis H. Bender, Intensity's President and CEO, and Joseph Talamo, Intensity's Chief Financial Officer. Shortly before this call, Intensity issued a press release announcing its second quarter 2026 financial results, which is available under the News & Events section of the company's website. Shortly after this webcast, a replay of this call will also be posted. Before we begin, the company reminds you that comments made by management during this conference call contain forward-looking statements that involve risks and uncertainties regarding the operations and future results of Intensity Therapeutics. These statements include, but are not limited to, statements relating to the company's expected future plans, cash runway, development activities, projected milestones, business activities, or results.
Forward-looking statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results or events to material differ from those anticipated. Additional information regarding these risks and uncertainties is included in the company's earnings release issued today. For a more complete list and description of risk factors, they encourage you to review the company's filings with the Securities and Exchange Commission, including, without limitation, its Forms 10-K, 10-Q, and 8-Ks. Furthermore, the content of this conference call contains time-sensitive information that is accurate only as of the date of this live broadcast, Tuesday, August 11, 2026. Except as required by law, the company disclaims any intention or obligation to update or revise any forward-looking statements. I will now turn the call over to Mr. Bender, Intensity's President and CEO.
Thank you, Betsy, and thank you to everyone for joining us this morning. It is my pleasure to provide the latest update of our company's progress in the INVINCIBLE-3 and INVINCIBLE-4 studies, our business development activities, and our plans for the second half of 2026. First, I will turn the call over to Joe Talamo to discuss our second quarter of 2026 financial results.
Joe? Thanks, Lou, and good morning.
I am pleased to join you today to present a summary of our second quarter 2026 financial results. Our research and development expenses were $1.8 million for the second quarter of 2026, compared with $1.5 million for the same prior year period, reflecting an increase of $292,000 or 19%. Clinical trial expenses, which primarily consist of our phase III INVINCIBLE-3 study costs, were $1.2 million during the second quarter of 2026, compared with $936,000 in the same prior year period. As previously reported, we initiated plans in April 2026 to resume enrollment in the INVINCIBLE-3 study in a limited number of U.S. sites after pausing new site activations and patient enrollment in March 2025 due to funding constraints. During this pause, we continued to treat or monitor patients enrolled in the study in cooperation with our CROs.
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