Kalaris Q2 2025 net loss $11.4M; Phase 1 TH103 data expected Q4 2025

Kalaris Therapeutics, Inc.

2025-Q2 EPS reported -$1.89 vs consensus -$0.53 ▼ miss (-256.3%)

Net loss $11.4M ($0.61/shr) vs $5.7M ($4.26/shr) in Q2 2024; no revenue in either period.
Cash $88.4M at June 30, 2025 (up from $1.6M at Dec 31, 2024) after AlloVir merger.
R&D expenses $8.4M (up from $3.2M YoY) driven by Phase 1 clinical trial initiation.
Enrolling nAMD patients in Phase 1 trial of anti-VEGF TH103; initial data expected Q4 2025.
Hired Kristine Curtiss as SVP of Clinical; over 25 years ophthalmology experience.

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