Short answer
Apogee Therapeutics, Inc. (APGE) filed its fiscal 2025 10-K annual report with the SEC on Mar 2, 2026.
FY2025 key financial metrics · XBRL
- Net income
- −$256M
- −40.5% YoY
- EPS (diluted)
- −$4.22
- −27.9% YoY
- Operating cash flow
- −$227M
- −32.9% YoY
Source: XBRL data from the Apogee Therapeutics, Inc. (APGE) FY2025 10-K on SEC EDGAR. USD.
Apogee Therapeutics, Inc. FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business: Clinical-stage biotech developing breakthrough therapeutics focused on protein modulation and drug candidates
- Emphasis on zumilokibart (APG777) with $76.4M R&D spend in 2025, up $27.2M YoY, reflecting clinical trial expansion and manufacturing scale-up
- Strategic focus shift: Increased R&D and headcount investment, with personnel-related expenses rising $29.5M and equity comp up $12.4M for 2025
- Capital raised: $324.1M net proceeds from October 2025 equity offering; total cash + securities balance $902.8M as of Dec 31, 2025
- Net loss sharply increased to $255.8M in 2025 from $182.1M in 2024, driven by higher R&D and G&A expenses tied to program advancement and scaling
Management Discussion & Analysis
- Pipeline focus on four antibody programs targeting inflammatory and immunology diseases, no segment financials given
- Forward-looking risks include reliance on clinical development outcomes and uncertainty in market approval
- Management emphasizes potential for differentiated efficacy and dosing in large I&I markets without specific guidance
Generated from the filing text; verify against the original. How to read a 10-K
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