K
Kalaris Therapeutics, Inc.
KLRSCIK 0001754068NasdaqNon-AcceleratedSmaller ReportingBiological Products, (No Diagnostic Substances)DelawareFY ends Dec 31
Period
FY 2025
Revenue
—
Net Income
$-43.40M
Total Assets
$121.74M
Equity
$78.81M
Shares Out
23.79M
Op. Cash Flow
$-38.40M
Business
Kalaris Therapeutics is a clinical-stage biopharmaceutical company developing TH103, a novel anti-VEGF fusion protein engineered for extended intraocular retention to treat retinal diseases with unmet medical needs. The company's lead candidate, administered by intravitreal injection, targets neovascular age-related macular degeneration and other VEGF-mediated retinal conditions including diabetic eye disease and retinal vein occlusion. Kalaris has completed Phase 1a trials showing clinical efficacy and is conducting Phase 1b/2 dose-finding studies to advance its therapeutic candidate.
Summary from 10-K filed 2026-03-17
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Research and development (including $27 and $32,128 for a related party) | 31 | 45 | 133 | 119 | 121 | |
| General and administrative (including $322 and $230 for a related party) | 15 | 7 | 48 | 52 | 49 | |
| Total operating expenses | 46 | 52 | 200 | 171 | 170 | |
| Loss from operations | −46 | −52 | −200 | −171 | −170 | |
| Change in fair value of tranche liability (including $331 and $19,064 for a related party) | 365,000 | 21 | — | — | — | |
| Change in fair value of derivative liabilities (including $1,165 and $2,039 for a related party) | 1 | 2 | — | — | — | |
| Interest expense (including $1,384 and $2,656 for a related party) | −1 | −3 | — | — | — | |
| Loss on extinguishment and on issuance of convertible promissory notes (including $169 and $34,692 for a related party) | −186,000 | −38 | — | — | — | |
| Other income, net | 3 | 188,000 | 4 | 351,000 | −2 | |
| Total other income (expense), net | 3 | −17 | — | — | — | |
| Net loss | −43 | −69 | −190 | −169 | −172 | |
| Net loss per share attributable to common stockholders - basic | −2.85 | −51.77 | −42.09 | −2.2 | −2.74 | |
| Net loss per share attributable to common stockholders - diluted | −2.85 | −51.77 | −42.09 | −2.2 | −2.74 | |
| Weighted-average shares outstanding - basic | 15 | 1 | 5 | 77 | 63 | |
| Weighted-average shares outstanding - diluted | 15 | 1 | 5 | 77 | 63 | |
| Unrealized gain on marketable securities, net of tax | 6,000 | 0 | 406,000 | −313,000 | 1,000 | |
| Total other comprehensive income | 6,000 | 0 | 406,000 | −313,000 | −43,000 | |
| Comprehensive loss | −43 | −69 | −190 | −169 | −172 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 98 | 2 | 90 | 106 | 202 | |
| Short-term marketable securities | 20 | 0 | 94 | 128 | 46 | |
| Prepaid expenses and other current assets | 827,000 | 967,000 | 3 | 7 | 5 | |
| Total current assets | 119 | 3 | 188 | 243 | 253 | |
| Deferred transaction costs | 0 | 3 | — | — | — | |
| Operating lease right-of-use assets | 1 | 0 | 2 | 32 | 30 | |
| Restricted cash | 499,000 | 0 | 852,000 | 852,000 | 852,000 | |
| Other non-current assets | 953,000 | 410,000 | 122,000 | 612,000 | 1 | |
| Total assets | 122 | 6 | 191 | 277 | 287 | |
| Accounts payable | 1 | 2 | 7 | 3 | 8 | |
| Accrued expenses and other current liabilities (including $67 and $85 due to a related party) | 8 | 2 | — | — | — | |
| Convertible promissory notes, net of discount of $1,298 (including $0 and $18,670 due to a related party) | 0 | 20 | — | — | — | |
| Derivative liabilities (including $0 and $995 due to a related party) | 0 | 1 | — | — | — | |
| Tranche liability (including $0 and $331 due to a related party) | 0 | 365,000 | — | — | — | |
| Operating lease liabilities, current | 316,000 | 0 | 11 | 7 | 7 | |
| Total current liabilities | 10 | 25 | 28 | 24 | 38 | |
| Royalty obligation - related party | 32 | 32 | — | — | — | |
| Operating lease liabilities, long-term | 1 | 0 | 17 | 28 | 23 | |
| Total liabilities | 43 | 57 | 45 | 53 | 61 | |
| Commitments and contingencies (Note 10) | — | — | — | — | — | |
| Redeemable convertible preferred stock, $0.00001 par value, no shares authorized, issued and outstanding as of December 31, 2025; 75,151,340 shares authorized as of December 31, 2024; 43,151,340 shares issued and outstanding as of December 31, 2024; liquidation preference of $0 as of December 31, 2025 | 0 | 46 | — | — | — | |
| Common stock, $0.0001 and $0.00001 par value as of December 31, 2025 and 2024, respectively; 300,000,000 and 86,000,000 shares authorized as of December 31, 2025 and 2024, respectively; 22,902,418 and 1,356,431 shares issued and outstanding as of December 31, 2025 and 2024, respectively | 2,000 | 0 | 0 | 9,000 | 7,000 | |
| Additional paid-in capital | 239 | 20 | 802 | 691 | 522 | |
| Accumulated other comprehensive income | 6,000 | 0 | −62,000 | −468,000 | −155,000 | |
| Accumulated deficit | −160 | −117 | −656 | −466 | −297 | |
| Total stockholders' equity (deficit) | 79 | −97 | −45 | 225 | 225 | |
| Total liabilities, redeemable convertible preferred stock and stockholders' equity (deficit) | 122 | 6 | 191 | 277 | 287 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Net loss | −43 | −69 | −190 | −169 | −172 | |
| Royalty obligation expense - related party | — | 32 | — | — | — | |
| Depreciation expense | 13,000 | — | — | — | — | |
| Stock-based compensation expense | 2 | 895,000 | 41 | 41 | 44 | |
| Capital contributions - in-kind services - related party | — | 60,000 | — | — | — | |
| Non-cash interest expense (including $1,384 and $2,656 for a related party) | 1 | 3 | — | — | — | |
| Non-cash operating lease expense | 53,000 | — | — | — | — | |
| Net amortization of premiums and accretion of discounts on marketable securities | −399,000 | −1 | −4 | −1 | 1 | |
| Loss on extinguishment and on issuance of convertible promissory notes (including $169 and $34,692 for a related party) | 186,000 | 38 | — | — | — | |
| Prepaid expense and other current assets | 2 | −803,000 | 6 | −3 | −1 | |
| Other non-current assets | −355,000 | −410,000 | −900,000 | 490,000 | −1 | |
| Accounts payable | −88,000 | −1 | — | — | — | |
| Accrued expenses and other current liabilities (including $16 and $0 for a related party) | 2 | 115,000 | — | — | — | |
| Operating lease liabilities | −81,000 | — | — | — | — | |
| Net cash used in operating activities | −38 | −21 | −124 | −142 | −106 | |
| Purchases of short-term marketable securities | −35 | — | −126 | −229 | −77 | |
| Maturities of short-term marketable securities | 15 | 95 | 164 | 148 | 263 | |
| Purchase of property and equipment | −200,000 | — | — | — | −26,000 | |
| Net cash used in investing activities | −20 | 95 | 38 | −80 | 186 | |
| Proceeds from issuance of common stock in private placement | 42 | — | — | 126 | — | |
| Proceeds from issuance of pre-funded warrants in private placement | 8 | — | — | — | — | |
| Payment of issuance costs | −2 | — | — | — | — | |
| Proceeds from the issuance of redeemable convertible preferred stock, net of issuance costs | — | 2 | — | — | — | |
| Proceeds from the issuance of convertible promissory notes (including $3,402 and $19,041 from a related party), net of issuance costs | 8 | 20 | — | — | — | |
| Cash acquired in connection with the Merger | 102 | — | — | — | — | |
| Payment of deferred transaction costs and issuance costs | −3 | −2 | — | — | — | |
| Proceeds from the exercise of stock options | — | 3,000 | — | — | 232,000 | |
| Net cash provided by financing activities | 155 | 19 | 70 | 127 | 232,000 | |
| Net increase (decrease) in cash and cash equivalents and restricted cash | 97 | −2 | −16 | −96 | 80 | |
| Right-of-use assets obtained in exchange for operating lease liability | 2 | — | — | 15 | 26 | |
| Merger transaction costs recognized in additional paid-in capital | 5 | — | — | — | — | |
| Recognition of AlloVir common stock outstanding at the closing of the Merger | 105 | — | — | — | — | |
| Issuance of redeemable convertible preferred stock upon conversion of convertible promissory notes | 4 | — | — | — | — | |
| Conversion of redeemable convertible preferred stock into common stock in connection with the Merger | 50 | — | — | — | — | |
| Conversion of convertible promissory notes and accrued interest in connection with the Merger | 21 | — | — | — | — | |
| Deferred transaction and financing issuance costs included in accounts payable and accrued expenses and other current liabilities | 2 | 748,000 | — | — | — | |
| Unrealized gain on available-for-sale securities | 6,000 | — | — | — | — | |
| Capital contributions in-kind services related party | — | 60,000 | — | — | — | |
| Premium on issuance of convertible promissory notes (including $169 and $15,296 for a related party) | 186,000 | 17 | — | — | — | |
| Repurchase of common stock shares for royalty obligation | — | 32,000 | — | — | — | |
| Vesting Of Restricted Stock Awards | — | 1,000 | — | — | — |
Filings
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Frequently asked questions
What is Kalaris Therapeutics, Inc.'s CIK number?
Kalaris Therapeutics, Inc.'s SEC CIK number is 0001754068 (1754068). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find Kalaris Therapeutics, Inc.'s SEC filings?
All of Kalaris Therapeutics, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did Kalaris Therapeutics, Inc. last report earnings?
Kalaris Therapeutics, Inc. (KLRS) most recently filed an earnings 8-K with the SEC on May 12, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001193125-26-218240). This is Kalaris Therapeutics, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is Kalaris Therapeutics, Inc.'s most recent earnings 8-K?
Kalaris Therapeutics, Inc.'s latest earnings 8-K (Item 2.02) was filed May 12, 2026 under accession 0001193125-26-218240. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View Kalaris Therapeutics, Inc.'s latest earnings 8-K →
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