Key Highlights

  • CRISPR Therapeutics' net loss for the third quarter of 2026 came to $111.4 million, and its cash and securities total $2,276.6 million.
  • Seaport Therapeutics lost $26.4 million, and its $403.8 million cash position is expected to carry operations into 2029.
  • Recursion Pharmaceuticals' Revenue of $18.6 million accompanied a loss that narrowed to $119.0 million.
  • Syndax Pharmaceuticals grew sales 82% to $83.3 million, and its net loss totaled $49.4 million.
  • Travere Therapeutics' revenue hit $224.6 million, but a $113.1 million licensing charge pushed its net loss to $52.3 million.

Which Clinical and Growth-Stage Biotechs Issued Third-Quarter 2026 Reports?

Every one of the five biotechnology companies in this group posted a net loss, though their revenue varies from nothing at one to beyond $200 million at another. Filings for the quarter that ended Sep 30, 2026 were dated Nov 2, 2026.

CRISPR Therapeutics (NASDAQ:CRSP) recorded $12.7 million of revenue and a $111.4 million net loss. Seaport Therapeutics (NASDAQ:SPTX), which lacks product sales, lost $26.4 million. Recursion Pharmaceuticals (NASDAQ:RXRX) took in $18.6 million of revenue, versus $5.2 million before, and absorbed a $119.0 million net loss.

Syndax Pharmaceuticals (NASDAQ:SNDX) reported revenue of $83.3 million, an 82% advance, and a $49.4 million net loss. Travere Therapeutics (NASDAQ:TVTX) delivered $224.6 million of revenue, up 36.2%, but lost $52.3 million.

The sequence in this piece tracks the group list instead of performance, and the growth percentages sit on very different bases.

CRISPR Therapeutics: Deferred Partner Revenue Did Not Stop a Wider Loss

CRISPR's net red ink came to $111.4 million ($1.15 a share), higher than the $106.4 million ($1.17) of the prior-year period. Of the $12.7 million in revenue, $12.3 million came from previously deferred collaboration income released after a partner passed on an option for a target.

Research and development expense went up to $71.9 million, versus $58.9 million before. Collaboration expense (net) moved the other way, dropping to $41.3 million, compared with $57.1 million; the company linked that to a larger share of CASGEVY revenue.

Cash and marketable securities stood at $2,276.6 million, and management believes that supports operations for a minimum of 24 months, not counting partner proceeds. No readout date is given for the in vivo, CAR-T or siRNA efforts.

Seaport Therapeutics: How a Post-IPO Share Count Reshapes Per-Share Losses

Seaport's loss, $26.4 million, works out to $0.49 a share, while the loss of $22.5 million in the earlier period equated to $9.43 a share. The initial public offering priced at $18.00 and put 14,446,658 shares into circulation, bringing roughly $238.4 million in net proceeds, which enlarged the denominator considerably.

Research spending rose to $23.9 million, including $10.2 million on GlyphAllo while the Phase 2b BUOY-1 study progressed. Over nine months, G&A jumped to $53.8 million, primarily because of $35.7 million in added non-cash Equity compensation.

Cash and investments amount to $403.8 million, projected to sustain operations into 2029. Topline BUOY-1 results are anticipated during the first half of 2027.

Recursion Pharmaceuticals: A Milestone Payment Behind Revenue Growth and a Narrower Loss

Top-line income jumped to $18.6 million, which is about 3.6 times (calculated) what it was before. A milestone payment of $10.0 million from a major pharma partner explains most of the increase. The net Deficit narrowed to $119.0 million ($0.22 a share), down from $162.3 million ($0.36).

R&D outlays shrank to $99.1 million, versus $121.1 million, and internal plus partnered discovery costs were cut by 75%. For the nine months, revenue shrank 16%, landing at $32.7 million.

Management says the $549.9 million cash balance should cover a minimum of 12 months of spending, yet the filing indicates additional Capital will be required later. REC-4881 data showed reduced polyp burden for 13 of 15 adults at week 12.

Syndax Pharmaceuticals: Revuforj Sales Account for Most of an 82% Top-Line Jump

Sales reached $83.3 million, against $45.9 million earlier; the composition was $60.7 million from Revuforj products and $22.6 million from Niktimvo Partnership income. The count of Revuforj prescriptions, about 1,700, was near twice last year's level, while new patient starts (around 300) improved roughly 20% versus the previous quarter.

Losses shrank: the net figure is $49.4 million ($0.55 a share) compared with $60.7 million ($0.70). R&D spending climbed by 19.9% (calculated), reaching $67.5 million.

Syndax held $551 million across cash, equivalents and investments. The 2026 outlook for research plus SG&A spending was maintained close to $400 million, not counting about $50 million of non-cash equity pay.

Travere Therapeutics: FILSPARI Sales Near $200 Million Yet a Loss After a Licensing Charge

Sales of FILSPARI came to $200.2 million (prior: $90.9 million), and overall revenue grew by 36.2% (calculated), arriving at $224.6 million. The company went from $25.7 million of Net Income last year to a $52.3 million net loss, equal to $0.55 per share.

An in-process R&D charge of $113.1 million, tied to a license, drove the swing, along with heavier research and selling costs. License and collaboration income fell to $4.4 million, down from $51.7 million, because the earlier quarter had a $40.0 million milestone in it.

Cash and equivalents reached $123.5 million, and $348.3 million more sat in marketable Debt securities. The chief executive transition is slated for Dec 1, 2026.

Five-Company Comparison: Combined Losses, Cash Pile and Revenue Ratios

Adding up the five, the losses total $358.5 million (calculated). CRISPR and Recursion represent $230.4 million (calculated) of that sum. Pooled cash and securities came to around $4,253 million (calculated), CRISPR holding the largest slice.

CRISPR's loss was roughly 8.8 times (calculated) its revenue, compared with about 59% (calculated) at Syndax and 23% (calculated) at Travere. Seaport lacks revenue, so no ratio is calculated for it.

Net losses shrank at Recursion and Syndax, grew at CRISPR and Seaport, and moved from profit into loss at Travere. Comparability suffers since Travere's figure carries a one-time licensing hit.

What to Watch Next: Trial Timelines, a New CFO and a CEO Handover

Seaport's calendar holds BUOY-1 topline numbers for the opening half of 2027, with a GlyphAgo Phase 2a update following in early 2028. Recursion intends to start a registrational REC-4881 trial in the second half of 2027, with REC-1245 expansion data targeted for that same timeframe.

Syndax welcomes a new chief financial officer on Nov 9, 2026, and presents fresh Revuforj data at a December hematology conference. Travere completes its chief executive handover on Dec 1, 2026, and anticipates Phase 3 pegtibatinase results during 2027's second half.

No dated event surfaced in CRISPR's materials.