Celyad Oncology: Cash Position Reduced to €0.1M and Losses Decreased in First Half 2026
Celyad Oncology published on September 23, 2026 its accounts for the first half of 2026, closed on June 30. The Belgian biotech company, now refocused on the exploitation of its intellectual property following several disposals, reports cash reduced to €0.1M at closing, while its net loss and expenses have decreased significantly.
The reduction in the cost base constitutes the central fact of the period, in a context where the Company itself indicates facing uncertainty regarding its ability to continue its operations.
Losses and Expenses in Sharp Decline Following 2025 and 2026 Disposals
For the six months ended June 30, 2026, Celyad Oncology recorded an operating loss of €1.2M, compared to €3.7M in the first half of 2025. The net loss stood at €1.2M, or €(0.027) per share, compared to €3.3M, or €(0.09) per share, over the same period in 2025.
Personnel expenses declined to €0.4M, compared to €1.4M one year earlier, a change that the Company attributes primarily to the workforce reduction implemented in 2025. Other operating expenses amounted to €0.9M, down €1.6M from the first half of 2025.
The Company links this decrease to lower external service costs, reduced research and development expenses and its disposals, notably the sale of the R&D site in 2025 and the catheter business (C-Cath) in 2026. Other income for the semester, at €0.3M, is primarily related to the gain realized on the disposal of this business.
Cash Position of €0.1M Strengthened by Capital Increase in July
At June 30, 2026, Celyad Oncology's cash and cash equivalents amounted to €0.1M, compared to €0.8M one year earlier and €1.7M at the end of December 2025. Net cash used in operating activities was reduced to €1.5M over the semester, compared to €3.3M in the first half of 2025.
Following the closing, the Company carried out on July 16, 2026 a capital increase of €0.5M, presented as a strengthening of its cash position. Licensing and collaboration agreements generated no revenue during the semester, a situation identical to that of the first half of 2025.
Financing Sufficient Until 2027 According to the Company
After reviewing its detailed budgets and cash flow forecasts for 2026 and 2027, Celyad Oncology indicates that its existing cash and cash equivalents are expected to be sufficient to finance its estimated operating and investment expenses until 2027.
The Company, based in Mont-Saint-Guibert (Belgium) and refocused on the exploitation of its intellectual property, mentions among its risk factors significant uncertainty regarding its ability to continue its operations. Over the semester, the net loss of €1.2M and cash of €0.1M at closing, supplemented by the capital increase of €0.5M on July 16, 2026, summarize the financial situation of the period.
