USABiotech & Genomic Medicine▲
LeonaBio beats Q2 loss forecast as Phase 3 ELAINE-3 trial advances
LeonaBio reported a smaller-than-expected second-quarter loss as its pivotal Phase 3 ELAINE-3 study of lasofoxifene continued to advance. The company posted a loss of $0.80 per share, beating analyst expectations for a loss of $1.12 per share, while net loss widened to $19.0 million from $7.0 million a year earlier. Enrollment in the ELAINE-3 trial reached 495 patients toward a target of approximately 600, with completion expected in the fourth quarter of 2026 and topline results in the second half of 2027. Research and development expenses climbed to $12.9 million from $3.7 million, and cash, cash equivalents and investments fell to $51.1 million from $88.3 million at the end of 2025.