Kalaris Secures $104.9M Cash Runway and Advances TH103 Phase 1b/2 Trial
KLRS•Kalaris held $104.9 million in cash and marketable securities as of March 31, 2026, expected to fund operations into Q4 2027. Patient screening for its Phase 1b/2 multiple ascending dose trial of TH103 is underway, with preliminary data due 1H 2027 and Phase 3 planned by year-end 2027.
1. Cash Position and Runway
As of March 31, 2026, the company held $104.9 million in cash, cash equivalents and marketable securities, down from $118.0 million at year-end. This balance is expected to fund operations into the fourth quarter of 2027 and support key clinical milestones.
2. Phase 1b/2 TH103 Trial Progress
Kalaris has completed manufacturing enhancements for its TH103 clinical batch and begun screening patients in a Phase 1b/2 multiple ascending dose trial evaluating four monthly doses. The company plans to share preliminary safety and efficacy data in the first half of 2027 and initiate Phase 3 studies by year-end 2027.
3. Financial Results and Expenses
Research and development expenses rose to $7.6 million for the quarter from $6.0 million year-over-year, driven by increased CRO and clinical costs. General and administrative expenses remained flat at $4.3 million, while the net loss widened to $10.9 million from $10.2 million.
