PureTech Health plc

PureTech Health PLC reported H1 2026 cash and short-term investments of $220 million, down from $277.1 million at year-end 2025, providing operational runway at least through the end of 2028. Seaport Therapeutics completed a successful IPO on NASDAQ, raising $260 million, while Gallup Oncology received FDA Fast Track designation for LYT200 in relapsed/refractory high-risk MDS and completed a successful End of Phase 1 meeting. Estimated future proceeds from Cobenfy royalties and milestones were materially downgraded to approximately $50 million based on analyst consensus. PureTech reserved $70 million for future investment in Celia Therapeutics, which will require additional financing to complete its Phase 3 trial, and expects go-forward cash burn of $30 million to $40 million a year, down from roughly $90 million when later-stage clinical programs were run internally. Gallup Oncology's Phase 2 STRIDE MDS trial is not expected to be pivotal and will take approximately 30 to 33 months, with initiation contingent on external financing targeted for completion by the first half of next year.