secwatch.observer — SEC 8-K summary
======================================

Issuer:     LeonaBio, Inc. (LONA)
CIK:        0001620463
Form:       8-K
Filed at:   2026-03-26T23:59:59+00:00
Accession:  0001193125-26-126579
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

LeonaBio reports FY2025 net loss $105.6M; acquires Phase 3 lasofoxifene, raises $90M
--------------------------------------------------------------------------------

- Net loss of $105.6M ($24.70 per share) for FY2025 vs $96.9M loss in FY2024; R&D expenses rose to $85.6M on lasofoxifene license costs.
- Cash and investments $88.3M at Dec 31, 2025, up from $51.3M year-end 2024; $90M private placement closed with potential $146M from warrant exercises.
- Exclusive global license acquired for Phase 3 lasofoxifene (SERM) for ESR1-mutated metastatic breast cancer; ELAINE-3 enrollment completion expected 4Q2026, topline data 2H2027.
- ATH-1105 Phase 2 proof-of-concept trial in ALS patients on track to initiate in 2H2026; Phase 1 data showed favorable safety and CNS penetration.
- G&A expenses decreased to $16.7M from $26.1M, reflecting cost efficiencies; company renamed from Athira to LeonaBio in Jan 2026.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1620463/000119312526126579/0001193125-26-126579-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1620463/000119312526126579/lona-20260326.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-126579

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer