LTGO 8-K
Latigo Biotherapeutics, Inc. (LTGO)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
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Securities registered pursuant to Section 12(b) of the Act:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item 2.02 Results of Operations and Financial Condition.
On September 3, 2026, Latigo Biotherapeutics, Inc. (the “Company”) issued a press release announcing its financial results for the quarter ended June 30, 2026. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
All of the information furnished in this Item 2.02 and Exhibit 99.1 of this Current Report on Form 8-K shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, and shall not be incorporated by reference in any filing made by the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits.
Exhibit number |
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Description |
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99.1 |
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104 |
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Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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Latigo Biotherapeutics, Inc. |
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Date: |
September 3, 2026 |
By: |
/s/ Nima Farzan |
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Nima Farzan |
Exhibit 99.1
Latigo Biotherapeutics Reports Second Quarter 2026 Financial Results and Recent Business Highlights
Completed upsized initial public offering, including full exercise of the underwriters’ option to purchase additional shares, raising gross proceeds of $397.4 million; together with existing cash expected to fund operations into 2029
The New England Journal of Medicine published positive onzotrigine (previously referred to as LTG-001) abdominoplasty clinical trial results in moderate-to-severe acute pain
Expanded leadership team with appointment of Naomi Lowy, M.D., former deputy director of the FDA Division of Anesthesia, Addiction Medicine, and Pain Medicine, as senior vice president of global regulatory affairs
THOUSAND OAKS, Calif., Sept. 03, 2026 (GLOBE NEWSWIRE) — Latigo Biotherapeutics, Inc. (Nasdaq: LTGO), a clinical-stage biopharmaceutical company committed to developing innovative non-opioid pain medicines, today reported financial results for the second quarter ended June 30, 2026, and highlighted recent progress.
“This has been a significant period for Latigo as we completed our upsized initial public offering, published positive onzotrigine abdominoplasty results in moderate-to-severe acute pain in The New England Journal of Medicine, and continued to advance our pipeline of innovative pain programs,” said Nima Farzan, chief executive officer of Latigo. “With a strong balance sheet, a highly experienced team, and a portfolio of differentiated programs, we are focused on executing our development plans, including the initiation of the Phase 3 program for onzotrigine and the advancement of onzotrigine and LTG-321 toward key future milestones. We also strengthened our leadership team with the appointment of Naomi Lowy, M.D., whose extensive regulatory and drug development experience will be an important asset as we continue to build a differentiated innovative non-opioid pain company.”
Recent Pipeline Progress
Onzotrigine: Investigational Oral NaV1.8 Inhibitor for Acute Pain
LTG-321: Investigational Oral NaV1.8 Inhibitor for Chronic Pain
LTG-418 and Other Pipeline
Recent Corporate Highlights
Financial Results for Second Quarter 2026
About Latigo Biotherapeutics
Latigo Biotherapeutics is a clinical-stage biopharmaceutical company committed to developing innovative non-opioid pain medicines. Latigo’s drug candidates are designed to rapidly and effectively stop the transmission of pain without the risk of addiction. The Company’s lead product candidate, onzotrigine (previously referred to as LTG-001) is an oral Nav1.8 ion channel inhibitor intended to provide fast-acting, opioid-sparing relief for the treatment of acute pain. LTG-321 is an oral Nav1.8 inhibitor being developed for chronic musculoskeletal pain. Additionally, Latigo is advancing research of additional Nav1.8 inhibitors that can address alternative formulation and delivery approaches as well as other ion channel targets for the treatment of pain. Learn more at latigobio.com or follow us on LinkedIn and X.
Forward-Looking Statements
The statements contained in this press release that are not historical facts are forward-looking statements. You can identify forward-looking statements because they contain words such as “expect,” “intend,” “may,” “plans,” or “will,” or similar expressions which concern our strategy, plans, projections, or intentions. Any such statements in this press release that are not statements of historical fact may be deemed to be forward-looking statements. These forward-looking statements include, without limitation, statements regarding Latigo’s financial outlook, future plans and prospects, its ability to execute on development plans, including Latigo’s planned and ongoing clinical trials and non-clinical studies for its product candidates, including onzotrigine, LTG-321, and LTG-418; the potential of LTG-418 to enable additional formulations and routes of administration; the expected timing of topline results for onzotrigine and LTG-321; statements about the Company’s expected cash runway; the expected benefits of expanding the Company’s executive team. Any forward-looking statements in this press release are based on the Company’s current expectations, estimates, and projections only as of the date of this release and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. Readers are cautioned that actual results could differ materially from those expressed or implied in the Company’s forward-looking statements due to a variety of risks and uncertainties, which include, without limitation, that the Company has limited operating history and no history of commercializing products; that the Company has incurred substantial losses since its inception and may never achieve or maintain profitability; that the Company will require substantial additional financing to achieve its goals; risks and uncertainties related to delays in its clinical trials, the discovery, development and regulation of its existing or future product candidates, including the uncertainty of related costs and regulatory filings, and that results from clinical trials or other studies may not support further development; risk that results of earlier studies and trials may not be predictive of future trials or real-world results; risks related to the legal and regulatory framework for the industry, and potential exposure to legal proceedings, regulatory inquiries, and other legal matters; the Company’s ability to protect its intellectual property and other risks and uncertainties described in the Company’s filings with the Securities and Exchange Commission (SEC), including those described from time to time under the caption “Risk Factors” and elsewhere in Latigo’s filings with the SEC, including its Quarterly Report on Form 10-Q for the quarter ended June 30, 2026. Latigo undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws.
Investor Contact:
Neha Krishnamohan
Latigo Biotherapeutics, Inc.
[email protected]
Media Contact:
Kathy Vincent
Greig Communications, Inc.
[email protected]
LATIGO BIOTHERAPEUTICS, INC.
Condensed Balance Sheets
(in thousands, except share and per share amounts)
(Unaudited)
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June 30, |
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December 31, |
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2026 |
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2025 |
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ASSETS |
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Cash and cash equivalents and restricted cash |
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$ |
55,197 |
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$ |
69,629 |
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Prepaid expenses and other current assets |
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4,002 |
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4,200 |
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Operating lease right-of-use assets |
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1,303 |
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625 |
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Property and equipment, net |
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457 |
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446 |
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Other assets |
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3,801 |
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616 |
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Total assets |
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$ |
64,760 |
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$ |
75,516 |
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LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' DEFICIT |
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Accounts payable, accrued expenses and other current liabilities |
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$ |
15,825 |
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$ |
17,883 |
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Operating lease liabilities |
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1,353 |
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690 |
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Derivative liability |
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5,148 |
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— |
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Convertible promissory notes |
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29,897 |
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— |
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Other long-term liabilities |
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35 |
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35 |
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Total liabilities |
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52,258 |
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18,608 |
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Redeemable convertible preferred stock |
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288,582 |
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288,582 |
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Total stockholders' deficit |
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(276,080 |
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(231,674 |
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Total liabilities, redeemable convertible preferred stock and stockholders' deficit |
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$ |
64,760 |
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$ |
75,516 |
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LATIGO BIOTHERAPEUTICS, INC.
Condensed Statements of Operations and Comprehensive Loss
(in thousands, except per share amounts)
(Unaudited)
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Three months ended June 30, |
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Six months ended June 30, |
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2026 |
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2025 |
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2026 |
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2025 |
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Operating expenses: |
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Research and development |
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$ |
21,226 |
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$ |
22,924 |
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$ |
38,859 |
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$ |
41,612 |
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General and administrative |
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4,582 |
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2,821 |
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10,385 |
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5,645 |
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Total operating expenses |
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25,808 |
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25,745 |
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49,244 |
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47,257 |
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Loss from operations |
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(25,808 |
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(25,745 |
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(49,244 |
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(47,257 |
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Interest income |
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(264 |
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(868 |
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(738 |
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(1,385 |
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Interest expense |
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251 |
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— |
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251 |
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— |
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Change in fair value of preferred stock tranche liability |
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— |
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927 |
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— |
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879 |
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Other expense, net |
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2 |
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31 |
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1 |
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36 |
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Total other (income) expense, net |
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(11 |
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90 |
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(486 |
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(470 |
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Net loss and comprehensive loss |
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$ |
(25,797 |
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$ |
(25,835 |
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$ |
(48,758 |
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$ |
(46,787 |
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Net loss and comprehensive loss per share — basic and diluted |
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$ |
(27.59 |
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$ |
(36.52 |
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$ |
(52.88 |
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$ |
(66.13 |
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Weighted-average number of shares used in computing net loss per share — basic and diluted |
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935 |
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707 |
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922 |
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707 |
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