Transgene reduces losses in first half of 2026 and targets 2028 for cash visibility
Strasbourg-based biotech Transgene published its accounts for the half-year ended June 30, 2026 on September 24, 2026, marked by a reduction in net losses and operating losses.
Alongside the figures, the company detailed progress of its Myvac platform for individualized therapeutic vaccines, including candidate TG4050 in head and neck cancer and the new TG4070 program in lung cancer.
Half-yearly net loss reduced to 15.7 million euros
Over the first six months of 2026, Transgene recorded a net loss of -15.7 million euros, compared with -19.3 million euros over the same period in 2025. Operating loss stood at -16.7 million euros, compared with -17.1 million euros a year earlier.
Operating products came in at 3.0 million euros, compared with 4.6 million euros in the first half of 2025. They are mainly comprised of the Research Tax Credit, at 2.5 million euros, compared with 4.4 million euros a year earlier.
Research and development expenses totaled 15.4 million euros, compared with 17.9 million euros in the first half of 2025. Net financial products stood at 1.1 million euros, compared with a charge of 2.2 million euros over the same period in 2025.
92.8 million euros in cash, visibility through early 2028
As of June 30, 2026, Transgene had 92.8 million euros in cash, cash equivalents and other current financial assets, compared with 111.9 million euros as of December 31, 2025.
Net cash consumption amounted to 20.3 million euros in the first half of 2026, compared with 18.8 million euros over the same period in 2025. The company states it has sufficient cash to ensure financial visibility through the beginning of 2028.
This financing framework structures the group's clinical calendar, with the expected milestone being the results of the Phase 1/2 study of TG4050.
TG4050 and TG4070: clinical milestones expected by 2028
For TG4050, developed in resected head and neck cancer, Transgene reported a publication in Nature Communications indicating that none of the 16 treated patients had relapsed after more than three years of follow-up, with a median follow-up of 41 months, while 3 patients out of 16 relapsed in the observational arm. Randomization of Phase 2 patients was completed in April 2026, and main results from the Phase 1/2 study are expected by the end of the first quarter of 2028.
The company also initiated in June 2026 a randomized Phase 1 trial evaluating TG4070, the second individualized therapeutic vaccine from the Myvac platform, in resected non-small cell lung cancer, in combination with nivolumab.
Under the license agreement signed in April 2026 with NEC Bio, Transgene paid a technology access fee of 2.5 million euros in the form of Transgene shares, as well as an initial payment of 1 million euros as part of a total cash amount of 2.5 million euros, paid in several installments through the beginning of 2028.
