Climb Bio, Inc.
CLYM · Pharmaceutical Preparations · 57.3M shares · +117%/yr ↑ dilution · EDGAR filings ↗
Reference price $7.01 · est. market cap ~$401M — last insider sale, 2026-02-26 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
D46Clinical/early-stage biotech — immunology clinical, very cash-rich.
Strengths
- Liquidity — current ratio 15.2 (91st)
Risks
- Pre-revenue, deep losses — per metrics
- Pre-revenue/clinical-stage — history of losses & need for capital per risk factors
- Binary clinical & funding risk — per 10-K
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Cash burnNegative free cash flow (-54.5M)
- Material weakness• We have identified material weaknesses in our internal control over financial reporting; if we are unable to remediate these material weaknesses, or if we identify additional material weaknesses in
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Chronic dilutionShare count +117%/yr over 4y (dilution, book value/share -96%)
- Strong balance sheetStrong balance sheet — $220M cash & investments, ~16 quarters of runway
- Trial resultTrial topline data reported — see 8-K for outcome 8-K ↗
- Insider sellingInsider selling — 4 open-market sale(s) by 1 insider(s) (~$879,382, last 6mo) Form 4 ↗
- Notable holderHeld by 5 notable fund(s): CITADEL ADVISORS LLC, RENAISSANCE TECHNOLOGIES LLC, GOLDMAN SACHS GROUP INC +2 more (as of 2026-03-31)
Key metrics
Return on equity
-37.3%
Return on assets
-35.7%
Current ratio
15.2×
Free cash flow
-$55M
EBITDA
-$68M
Tangible book value
$160M
Cash & investments
$220M
Cash runway
16q
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-02-26 | Thomas Stephen Basil | Sell | 16K | $7.01 |
| 2026-02-25 | Thomas Stephen Basil | Sell | 34K | $7.00 |
| 2026-02-13 | Thomas Stephen Basil | Sell | 10K | $5.81 |
| 2026-02-12 | Thomas Stephen Basil | Sell | 90K | $5.23 |
| 2026-01-05 | RA CAPITAL MANAGEMENT, L.P. | Buy | 7.1K | $3.50 |
| 2025-12-12 | RA CAPITAL MANAGEMENT, L.P. | Buy | 101K | $2.86 |
| 2025-12-11 | RA CAPITAL MANAGEMENT, L.P. | Disposition | 20.4M | — |
| 2025-12-11 | RA CAPITAL MANAGEMENT, L.P. | Buy | 213K | $2.18 |
| 2025-08-07 | Thomas Stephen Basil | Grant | 100K | — |
| 2025-06-30 | Brennan Aoife | Sell | 21K | $1.22 |
| 2025-06-27 | Brennan Aoife | Option exercise | 69K | — |
| 2025-06-27 | Thomas Stephen Basil | Option exercise | 25K | — |
| 2025-06-20 | Pimblett Emily | Sell | 1.2K | $1.24 |
| 2025-06-18 | Pimblett Emily | Option exercise | 5.0K | — |
| 2025-03-27 | Thomas Stephen Basil | Option exercise | 25K | — |
| 2025-03-20 | Pimblett Emily | Sell | 1.2K | $1.31 |
| 2025-03-18 | Pimblett Emily | Option exercise | 5.0K | — |
| 2025-01-01 | Thomas Stephen Basil | Option exercise | 50K | — |
All non-derivative Form 4 activity (SEC), newest first.
Clinical trials
| Trial | Title | Phase | Status | Primary completion |
|---|---|---|---|---|
| NCT07096843 ↗ | A Phase 2 Study of Budoprutug in Subjects With Primary Membranous Nephropathy Primary Membranous Nephropathy | PHASE2 | Recruiting | 2027-10-01 |
| NCT07043946 ↗ | A Phase 1b/2a Study of Budoprutug in Subjects With Immune Thrombocytopenia (ITP) Immune Thrombocytopenia (ITP), ITP | PHASE1/PHASE2 | Recruiting | 2027-08-01 |
| NCT07011043 ↗ | A Phase 1b Study of Budoprutug in Systemic Lupus Erythematosus (SLE) Systemic Lupus Erythematosus | PHASE1 | Recruiting | 2027-04-01 |
| NCT07248865 ↗ | A Phase 1 Study of CLYM116 in Normal Healthy Volunteers Healthy Volunteers | PHASE1 | Recruiting | 2026-07-01 |
| NCT07090655 ↗ | A Phase 1 Study of Budoprutug (TNT119) Subcutaneous and Intravenous Injections in Normal Healthy Volunteers Healthy Volunteers | EARLY_PHASE1 | Active Not Recruiting | 2026-04-01 |
| NCT07564596 ↗ | A Phase 1b/2a Study of Budoprutug in Systemic Lupus Erythematosus (SLE) Systemic Lupus Erthematosus | PHASE1/PHASE2 | Not Yet Recruiting | 2027-09-01 |
Source: ClinicalTrials.gov (U.S. NIH) · active studies first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-12 | Material agreementOtherExhibits | filing ↗ |
| 2026-06-11 | Other | filing ↗ |
| 2026-06-08 | Exec/director changeShareholder voteExhibits | filing ↗ |
| 2026-06-05 | Other | filing ↗ |
| 2026-05-07 | ResultsExhibits | filing ↗ |
| 2026-05-05 | Reg FDExhibits | filing ↗ |
| 2026-04-28 | Material agreement3.02OtherExhibits | filing ↗ |
| 2026-04-03 | Exec/director change | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-12 | 2026-06-11 | 0001193125-26-269567 ↗ |
| 8-K | 2026-06-11 | 2026-06-11 | 0001193125-26-266688 ↗ |
| 8-K | 2026-06-08 | 2026-06-05 | 0001193125-26-261716 ↗ |
| 8-K | 2026-06-05 | 2026-06-05 | 0001193125-26-258372 ↗ |
| 10-Q | 2026-05-07 | 2026-03-31 | 0001193125-26-210357 ↗ |
| 8-K | 2026-05-07 | 2026-05-07 | 0001193125-26-210295 ↗ |
| 8-K | 2026-05-05 | 2026-05-05 | 0001193125-26-205079 ↗ |
| 8-K | 2026-04-28 | 2026-04-27 | 0001193125-26-183711 ↗ |
| 8-K | 2026-04-03 | 2026-04-01 | 0001193125-26-142114 ↗ |
| 10-K | 2026-03-05 | 2025-12-31 | 0001193125-26-092546 ↗ |
| 8-K | 2026-03-05 | 2026-03-05 | 0001193125-26-092520 ↗ |
| 8-K | 2026-01-08 | 2026-01-08 | 0001193125-26-006994 ↗ |