Climb Bio, Inc.
CLYM evidence brief
What we can confirm
What it means
What to watch
Prepared research question
What matters most for CLYM—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · CLYM
Climb Bio, Inc. is a clinical-stage biotechnology company developing B-cell targeted therapeutics for immune-mediated diseases, with lead product candidate budoprutug in Phase 2 trials for pMN, ITP, and SLE, and a preclinical anti-APRIL mAb, CLYM116.
Key risk: No approved products or revenue
BioSniper Score
Based on 6 of 6 signals
Market Cap
$836.8M
Cash Runway
—
Lead Asset
budoprutug (Phase 2)
Next Catalyst
Phase2_Topline · Dec 31, 2026Financial data as of Jun 30, 2026.
Tracking 2 pipeline candidates · 6 clinical trials · 1 catalyst for Climb Bio, Inc..
Climb Bio, Inc. is a clinical-stage biotechnology company developing B-cell targeted therapeutics for immune-mediated diseases, with lead product candidate budoprutug in Phase 2 trials for pMN, ITP, and SLE, and a preclinical anti-APRIL mAb, CLYM116.
- Lead product candidate budoprutug is in Phase 2 clinical trials for primary membranous nephropathy (pMN), immune thrombocytopenia (ITP), and systemic lupus erythematosus (SLE) [sec · filed 2026-03-05].
- In January 2025, the company expanded its pipeline by licensing CLYM116, an anti-APRIL monoclonal antibody, from Mabworks [sec · filed 2026-03-05].
- As of June 30, 2026, the company reported cash and equivalents of $44.2M and a net loss of -$13.5M [sec].
- The company expects to announce initial data from its Phase 1 clinical trial of the subcutaneous formulation of budoprutug in the first half of 2026 [sec · filed 2026-01-08].
- The company expects to announce initial data from the PrisMN Phase 2 clinical trial of budoprutug in the second half of 2026 [sec · filed 2026-01-08].
What works
- The company has a focused pipeline targeting multiple immune-mediated diseases with budoprutug in Phase 2 trials for pMN, ITP, and SLE, providing multiple shots on goal [sec · filed 2026-03-05].
- The company expanded its pipeline with CLYM116, an anti-APRIL mAb, through a licensing agreement with Mabworks in January 2025, adding a second B-cell targeted therapeutic [sec · filed 2026-03-05].
- As of January 2026, the company estimated its cash, cash equivalents, and marketable securities would fund operations into 2028, suggesting a reasonable cash runway [sec · filed 2026-01-08].
What to weigh
- The company has not received regulatory approvals for any product candidates and has not generated any revenue from product sales, with no expectation of revenue for the foreseeable future [sec · filed 2026-03-05].
- The company is a clinical-stage biotechnology company with a limited operating history, subject to all risks typical of biopharmaceutical development, including potential delays and failures in clinical trials [sec · filed 2026-03-05].
- The company's future capital requirements depend on many factors, and it may exhaust its available capital resources sooner than expected if assumptions prove incorrect [sec · filed 2026-01-08].
From the filings
Quoted directly from source documents.
The company is initially developing budoprutug in pMN, ITP, and SLE.
“We are initially developing our lead product candidate budoprutug in pMN, ITP and SLE.”
SEC filings · March 5, 2026
The company expanded its pipeline with CLYM116 via the Mabworks Agreement in January 2025.
“in January 2025, we expanded our pipeline of B-cell targeted therapeutics by entering into the Mabworks Agreement, pursuant to which Mabworks granted us licenses to develop, manufacture and commercialize CLYM116, an anti-APRIL mAb, and products containing CLYM116.”
SEC filings · March 5, 2026
The company expects to announce initial data from the PrisMN Phase 2 trial in the second half of 2026.
“The Company expects to announce initial data from the PrisMN Phase 2 clinical trial of budoprutug in the second half of 2026.”
SEC filings · January 8, 2026
The company's cash and marketable securities are estimated to fund operations into 2028.
“cash, cash equivalents and marketable securities will be sufficient to fund its operations into 2028.”
SEC filings · January 8, 2026
Catalyst timeline
- 2026-12-31 · Phase2_Topline · budoprutug — Phase 2 Readout: budoprutug — The company expects to announce initial data from the PrisMN Phase 2 clinical trial of budoprutug in the second half of 2026.
Risks & what to watch (3)›
Key risks
- No approved products or revenue — The company has no regulatory approvals for any product candidates and has not generated any product revenue, with no expectation of near-term revenue [sec · filed 2026-03-05].
- Clinical trial risks — Biotechnology companies often face significant setbacks in advanced clinical trials due to lack of efficacy or safety issues, and most product candidates that enter trials never receive approval [sec · filed 2026-03-05].
- Capital needs and runway — The company may exhaust its available capital sooner than expected if assumptions change, and future funding depends on many factors including trial costs and manufacturing [sec · filed 2026-01-08].
What to watch
- Initial data from the Phase 1 clinical trial of the subcutaneous formulation of budoprutug in healthy volunteers, expected in the first half of 2026 [sec · filed 2026-01-08].
- Initial data from the PrisMN Phase 2 clinical trial of budoprutug, expected in the second half of 2026 [sec · filed 2026-01-08].
- Dosing of the first patient in the China SLE Trial, expected in the first half of 2026 [sec · filed 2026-01-08].
Sources: SEC filings · SEC MD&A · Generated August 28, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 6 of 6 signals · derived from public data
Profitable (positive operating cash flow)
D/E 0.03 · 0% dilution
Lead: Phase 2
2 candidates
1 upcoming, next in ~123d
0 buys · 1 sell (180d)
Catalysts
Pipeline
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
79
Total value held
$209.6M
| Holder | Shares | Value |
|---|---|---|
| ra capital management, l.p. | 11,300,939 | $77.4M |
| mpm bioimpact llc | 2,593,439 | $17.8M |
| vanguard capital management llc | 2,357,318 | $16.1M |
| braidwell lp | 1,529,675 | $10.5M |
| great point partners llc | 1,334,130 | $9.1M |
| millennium management llc | 1,276,260 | $8.7M |
| marshall wace, llp | 773,123 | $5.3M |
| affinity asset advisors, llc | 700,000 | $4.8M |
| silverarc capital management, llc | 684,908 | $4.7M |
| driehaus capital management llc | 600,946 | $4.1M |
Showing top 10 of 79 institutional holders of Climb Bio, Inc.. Open the full 13F history after sign-in.
Short Interest
as of May 20, 2026- % of float
- 4.4%
- Days to cover
- 2.6
- Shares short
- 1,776,821
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
CLYM short interestGovernance
Frequently asked questions
What is the AI investment thesis for Climb Bio, Inc.?
Climb Bio, Inc. is a clinical-stage biotechnology company developing B-cell targeted therapeutics for immune-mediated diseases, with lead product candidate budoprutug in Phase 2 trials for pMN, ITP, and SLE, and a preclinical anti-APRIL mAb, CLYM116.
What is Climb Bio, Inc.'s lead drug candidate?
Climb Bio, Inc.'s most advanced tracked candidate is budoprutug (Phase 2) for Immune Thrombocytopenia (ITP); Systemic Lupus Erthematosus; Healthy Volunteers.
What is Climb Bio, Inc.'s next catalyst?
Climb Bio, Inc.'s next tracked catalyst is a Phase2_Topline event — "Phase 2 Readout: budoprutug" — expected December 31, 2026.
Who is the CEO of Climb Bio, Inc.?
Dr. Aoife M. Brennan BAO, BCh, M.D., MB, MMSc is the chief executive officer of Climb Bio, Inc. (CLYM).
Where is Climb Bio, Inc. headquartered?
Climb Bio, Inc. (CLYM) is headquartered in Wellesley Hills, MA, United States.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.