Shares of NovaBridge Biosciences fell 8.59% to $1.81 in premarket trading on Wednesday after the company provided a quarterly update detailing clinical progress and financial positioning as of June 30, 2026.
The San Diego-based biotech, which operates under the NovaBridge Biosciences name and formerly traded as I-Mab, reported approximately $216 million in cash and investments, including $191 million in cash and cash equivalents and $25 million in equity investments at fair value. The company maintained a debt-free balance sheet and reported a current ratio of 8.09, according to InvestingPro data. No revenue was disclosed, as NovaBridge remains in the development phase without commercial products.
During the earnings call, Chief Executive Officer Srishti Gupta emphasized the company’s focus on translating science into patient impact. "Exceptional science only matters if it reaches patients," Gupta said. She also highlighted the company’s asset-driven structure, noting that "capability is becoming increasingly important across our industry, and NovaBridge is well positioned at the intersection of innovation and translation."
The company’s lead oncology asset, givastomig, demonstrated a 75% objective response rate and a preliminary median progression-free survival of 16.9 months in Phase I-b data for first-line gastroesophageal cancer. The drug, designed as a conventional antibody therapy, is being evaluated in biliary tract and pancreatic cancer cohorts alongside planned randomized Phase II and Phase III studies. The FDA granted Fast Track designation for givastomig in combination with nivolumab and chemotherapy in June 2026.
NovaBridge’s ophthalmology subsidiary Visara, majority-owned by the parent company, is advancing VIS-101 for neovascular age-related macular degeneration. The asset, a tetravalent VEGF-A and Ang-2 peptibody, showed positive Phase IIa top-line results, including improvements in visual acuity and reductions in retinal thickness. A Phase IIb study is expected to begin in the second half of 2026, with global Phase III planning underway.
Management also outlined upcoming milestones, including updated Phase I-b dose expansion data for givastomig at the ESMO 2026 conference in October. A Phase III study for givastomig is targeted for initiation in the fourth quarter of 2026, subject to planning and financing, with interim data readouts anticipated in 2028.
The company has screened more than 700 assets as part of its pipeline development strategy. Chief Commercial Officer Mark Hagler described givastomig’s administration as a "simple hang-and-go infusion" with no dose titration or required post-infusion observation period. Chief Medical Officer Phil Dennis noted that detailed regulatory interactions have clarified pathways for potential accelerated approval and defined clinically meaningful benefit criteria.
