---
schema_version: "secwatch.filing_event.v1"
accession: "0001828185-26-000011"
form_type: "8-K"
ticker: "BRNS"
cik: "0001828185"
company_name: "Barinthus Biotherapeutics plc."
filed_at: "2026-03-13T23:59:59+00:00"
generated_at: "2026-05-15T12:39:09.591358+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Barinthus Bio reports FY2025 net loss $66.5M; merger with Clywedog on track for Q2 2026

## Summary
- Proposed all-stock merger with Clywedog expected to close Q2 2026; combined entity to trade as CLYD.
- Cash, cash equivalents & restricted cash $71.9M at Dec 31, 2025, down from $112.4M YoY.
- Net loss of $66.5M ($1.64 per share) in 2025 vs $61.1M ($1.55) in 2024.
- R&D expenses decreased to $25.6M from $42.2M due to deprioritization of legacy assets.
- VTP-1000 multiple ascending dose data in celiac expected H2 2026.

## SEC filing metadata
- accession: 0001828185-26-000011
- form_type: 8-K
- ticker: BRNS
- cik: 0001828185
- company_name: Barinthus Biotherapeutics plc.
- filed_at: 2026-03-13T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1828185/000182818526000011/0001828185-26-000011-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1828185/000182818526000011/brns-20260313.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001828185-26-000011
- JSON: https://secwatch.observer/filing/0001828185-26-000011.json
- Plain text: https://secwatch.observer/filing/0001828185-26-000011.txt

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