Atrium Therapeutics Inc.
05/14/2026 | Press release | Distributed by Public on 05/14/2026 14:50
Atrium Therapeutics Reports First Quarter 2026 Financial Results (Form 8-K)
Atrium Therapeutics Reports First Quarter 2026 Financial Results
SAN DIEGO, May 14, 2026 / PRNewswire/ - Atrium Therapeutics, Inc. (Nasdaq: RNA) ("Atrium," "Atrium Therapeutics" or the "Company"), a biopharmaceutical company advancing precision cardiology by developing RNA therapeutics targeted to the heart, today reported financial results for the first quarter ended March 31, 2026, and highlighted recent corporate progress following its launch as a public company.
"Our focused pipeline, strong cash balance and experienced team are driving significant momentum as we build a dedicated precision cardiology company," said Kathleen Gallagher, President and Chief Executive Officer of Atrium Therapeutics. "This quarter, we advanced our lead development programs, ATR 1072 and ATR 1086, while establishing the strategic and operational foundation required to pioneer RNA therapeutics in the precision cardiology space. With a clear strategy, a well-characterized RNA delivery platform and a deep commitment to patients, we believe we are well-positioned to advance therapies for people living with genetic cardiomyopathies who have limited or no therapeutic options."
Recent Highlights
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Launched as an independent, publicly traded precision cardiology company. Atrium launched on February 27, 2026 following its separation and spin-off from Avidity Biosciences, Inc. (Avidity) after Novartis AG's acquisition of Avidity. Atrium began trading on the Nasdaq Global Select Market under the ticker symbol "RNA." |
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Earned $15 million milestone payment from Bristol Myers Squibb (BMS). Atrium successfully delivered the first development candidate targeting a cardiology indication under its ongoing collaboration with BMS, triggering a $15 million milestone payment. Under the terms of the agreement, Atrium is eligible to receive up to approximately $1.35 billion in research and development milestone payments, up to approximately $825 million in commercial milestone payments, and tiered royalties up to low double-digits on net sales. |
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Progressed ATR 1072 program toward the clinic. Atrium has conducted the Good Laboratory Practice (GLP) toxicology studies required for the submission of an Investigational New Drug (IND) application for ATR 1072, a potential treatment designed to address the underlying genetic cause of Protein Kinase AMP-activated non-catalytic subunit Gamma 2 (PRKAG2) syndrome. Additionally, the Company has completed initial discussions with both the U.S. Food and Drug Administration (pre-IND meeting) and Health Canada (pre-CTA consultation meeting) regarding its proposed Phase 1/2 clinical trial design. |
Anticipated Upcoming Milestones
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Submit IND application for ATR 1072 in the second half of 2026 |
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Initiate Phase 1/2 clinical trial for ATR 1072, subject to regulatory clearance |
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File IND application for ATR 1086 in 2027, with IND-enabling studies initiating in 2026 |
First Quarter 2026 Financial Results
Given the timing of Atrium's spin-off from Avidity, the operating results presented for the first quarter of 2026 are not necessarily indicative of the results for any future periods.
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Collaboration Revenue: Collaboration revenue was $19.6 million for the first quarter of 2026, primarily related to the achievement of a $15 million development milestone pursuant to the Company's partnership with BMS, with the remainder related to R&D services. |
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Research and Development (R&D) Expenses: R&D expenses were $16.7 million for the first quarter of 2026, primarily reflecting clinical trial preparations, IND-enabling activities, and continued development of the Company's overall research capabilities. |
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General and Administrative (G&A) Expenses: G&A expenses were $20.3 million for the first quarter of 2026, driven by employee-related expenses, professional fees, and costs associated with launching Atrium as a publicly traded company. |
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Cash and Cash Equivalents: As of March 31, 2026, Atrium had $267.8 million in cash and cash equivalents. The Company believes its current cash resources are sufficient to fund planned operations through key clinical proof-of-concept milestones. |
About Atrium Therapeutics
Atrium Therapeutics, Inc. (Nasdaq: RNA) is pioneering targeted delivery of ribonucleic acid (RNA) therapeutics to the heart to transform the standard of care for people living with cardiomyopathies. The Company's proprietary technology - designed at Avidity Biosciences, Inc. - combines the tissue selectivity of monoclonal antibodies (mAbs) and other targeted delivery ligands with the precision of oligonucleotides. Atrium Therapeutics' platform is designed to selectively target the underlying drivers of genetically driven cardiac diseases through targeted, non-viral delivery of small interfering RNA (siRNA). This approach builds upon learnings from demonstrated delivery to the skeletal muscle and applies it for efficient delivery to the heart with the potential to overcome challenges associated with non-specific tissue delivery. The Company's pipeline consists of two precision cardiology candidates, ATR 1072 for PRKAG2 (Protein Kinase AMP-activated non-catalytic subunit Gamma 2) syndrome and ATR 1086 for PLN (phospholamban) cardiomyopathy, and two undisclosed research targets in rare cardiomyopathies.
For more information about our RNA delivery platform, development pipeline and people, please visit https://atriumtherapeutics.com/ and engage with us on LinkedIn.
Availability of Other Information About Atrium Therapeutics
Investors and others should note that Atrium Therapeutics communicates with its investors and the public using its website https://atriumtherapeutics.com/, including, but not limited to, Atrium Therapeutics' disclosures, investor presentations and FAQs, Securities and Exchange Commission ("SEC") filings, press releases, public conference call transcripts and webcast transcripts, as well as on LinkedIn. The information that Atrium Therapeutics posts on its website or on LinkedIn could be deemed to be material information. As a result, Atrium Therapeutics encourages investors, the media and others interested to review the information that it posts there on a regular basis. The contents of Atrium Therapeutics' website or social media shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended.
About PRKAG2 Syndrome
PRKAG2 syndrome is a rare, autosomal dominant, early-onset cardiomyopathy caused by mutations in the PRKAG2 gene, which encodes the Gamma 2 regulatory subunit of AMPK. Mutations enhance AMPK activity leading to abnormal glycogen accumulation in heart muscle cells leading to thickened heart muscles, electrical conduction problems, and arrhythmias. There are 1,000 - 2,000 people with PRKAG2 syndrome in the United States. Current management is limited to symptomatic treatment; no approved therapies exist to address the underlying genetic driver of disease.
About PLN Cardiomyopathy
Phospholamban ("PLN") cardiomyopathy is a rare autosomal dominant, progressive cardiac disease caused by mutations in PLN, a key regulator of sarcoplasmic reticulum Ca2+-ATPase 2a ("SERCA2a") calcium pump. PLN mutations produce protein aggregates that disrupt endoplasmic reticulum processes and lead to dilated, arrhythmogenic, or hypertrophic cardiomyopathies and a significantly increased risk of heart failure and sudden cardiac death. There are 2,000 - 4,000 people with pathogenic PLN variants in the United States. No approved therapies target the underlying molecular cause of the disease.
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