---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-211867"
form_type: "8-K"
ticker: "LONA"
cik: "0001620463"
company_name: "LeonaBio, Inc."
filed_at: "2026-05-07T23:59:59+00:00"
generated_at: "2026-05-14T21:46:56.708485+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# LeonaBio Q1 2026 net loss $32.9M ($1.73/share); cash burn $20.9M; ELAINE-3 enrollment target Q4 2026

## Summary
- Net loss of $32.9M ($1.73 per share) vs $9.1M ($2.34) in Q1 2025, driven by higher R&D spend.
- Cash, equivalents and investments $67.7M at March 31, 2026, down from $88.3M at Dec 31, 2025.
- R&D expenses $10.3M (up 139% YoY) due to Phase 3 ELAINE-3 lasofoxifene trial costs.
- Expects to complete enrollment of Phase 3 ELAINE-3 in Q4 2026; topline data 2H 2027.
- Appointed Fred Callori, Natalie Holles, Peter Silverman to Board; John Fluke Jr. retired.

## SEC filing metadata
- accession: 0001193125-26-211867
- form_type: 8-K
- ticker: LONA
- cik: 0001620463
- company_name: LeonaBio, Inc.
- filed_at: 2026-05-07T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1620463/000119312526211867/0001193125-26-211867-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1620463/000119312526211867/lona-20260507.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-211867
- JSON: https://secwatch.observer/filing/0001193125-26-211867.json
- Plain text: https://secwatch.observer/filing/0001193125-26-211867.txt

## Source-grounded claims
- claim_id: d882745ca1ba481e9fca8dacc1d5932461433beb
  claim: LeonaBio, Inc. reported financial results for the quarter ended March 31, 2026.
  evidence_excerpt: On May 7, 2026, LeonaBio, Inc. (the “Company”) issued a press release reporting its financial results for the quarter ended March 31, 2026.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1620463/000119312526211867/0001193125-26-211867-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.