Apogee Therapeutics, Inc.

Listed Company

APGECIK 0001974640NasdaqLarge AcceleratedBiological Products, (No Diagnostic Substances)FY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$-255.80M

Total Assets

$937.13M

Equity

—

Shares Out

68.40M

Op. Cash Flow

$-227.50M

Business

Apogee Therapeutics, Inc. is a clinical-stage biotechnology company developing novel biologics for inflammatory and immunology (I&I) indications. Its main products are four engineered monoclonal antibody programs—APG777 (anti‑IL‑13), APG990 (anti‑OX40L), APG333 (anti‑TSLP) and APG808 (anti‑IL‑4Rα)—designed for extended half‑life and optimized antibody properties. Business activities are organized around discovery, antibody engineering, preclinical studies and clinical development of these antibody programs and combination formulations. Its programs advance through clinical trial networks and outsourced manufacturing and supply chains to serve global I&I markets.

Summary from filing dated 2025-03-03

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31
Research and development	215	168	68	28
General and administrative	71	49	25	3
Total operating expenses	286	217	93	31
Loss from operations	−286	−217	−93	−31
Interest income, net	30	35	9	92,000
Total other income, net	30	35	9	−9
Net loss before taxes	−256	−182	−84	—
Provision for income taxes	−278,000	−18,000	0	—
Net loss after taxes	−256	−182	−84	−40
Net loss per share, basic	−4.22	−3.3	−3.36	−16.16
Net loss per share, diluted	−4.22	−3.3	−3.36	−16.16
Weighted-average common shares outstanding, basic	61	55	25	2
Weighted-average common shares outstanding, diluted	61	55	25	2

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2022 2022-01-31
Cash and cash equivalents	132	142	118	152	—
Marketable securities	599	379	277	—	—
Prepaid expenses and other current assets	11	9	3	165,000	—
Total current assets	741	530	398	152	—
Long-term marketable securities	173	210	—	—	—
Property and equipment, net	6	2	377,000	—	—
Right-of-use asset, net	9	11	2	—	—
Other non-current assets	9	498,000	401,000	—	—
Total assets	937	754	401	152	—
Accounts payable	1	1	2	418,000	—
Lease liability	4	3	1	—	—
Accrued expenses and other current liabilities	23	24	17	—	—
Total current liabilities	28	29	21	10	—
Lease liability, net of current	5	9	933,000	—	—
Total liabilities	33	37	21	10	—
Commitments and contingencies (Note 9)	—	—	—	—	—
Common Stock; $0.00001 par value, 400,000,000 authorized, 69,038,943 issued and 68,401,349 outstanding as of December 31, 2025; 400,000,000 authorized, 59,478,725 issued and 58,062,898 outstanding as of December 31, 2024	1,000	1,000	—	—	—
Additional paid-in capital	1,465	1,022	503	—	—
Accumulated other comprehensive income	1	915,000	329,000	—	—
Accumulated deficit	−562	−306	−124	−40	—
Total stockholders' equity	904	717	380	−35	0
Total liabilities and stockholders' equity	937	754	401	152	—

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31
Net loss	−256	−182	−84	−40
Depreciation expense	1	200,000	—	—
Equity-based compensation expense	46	23	6	2
Amortization of discounts on marketable securities	−8	−12	−3	—
Non-cash lease expense	4	2	87,000	—
Prepaid expenses and other current assets	−2	−6	−3	−165,000
Other assets	−8	−97,000	−107,000	—
Accounts payable	150,000	−1	2	418,000
Operating lease liability	−4	−1	−270,000	—
Accrued expenses	−1	6	8	10
Net cash used in operating activities	−228	−171	−75	−16
Purchases of marketable securities	−642	−649	−304	—
Maturities of marketable securities	468	350	30	—
Purchases of property and equipment	−5	−1	−167,000	—
Net cash used in investing activities	−180	−300	−274	—
Proceeds from issuance of common stock and pre-funded warrants, net of issuance costs	324	450	315	—
Proceeds from issuance of common stock under ATM equity offering program, net of issuance costs	66	44	—	—
Proceeds from exercise of options and employee stock purchase plan purchases	7	2	—	—
Net cash provided by financing activities	396	495	315	168
(Decrease) increase in cash, cash equivalents and restricted cash	−11	23	−33	152
Exchange of 72,636,636 preferred, common, and incentive units in connection with the Reorganization (Note 1)	—	—	184	—
Operating lease right-of-use asset obtained in exchange for operating lease liability	999,000	11	2	—
Deferred financing issuance costs in accounts payable and accrued expenses	—	30,000	—	—
Purchases of property and equipment included in accounts payable and accrued expenses	—	619,000	210,000	—

Filings

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