Aura Biosciences Reports $27M Net Loss in Q2 2025, Increases R&D Spending

Aura Biosciences, Inc. reported its financial results for the second quarter of 2025, revealing a net loss of $27.0 million, compared to a net loss of $20.3 million for the same period in 2024. For the six months ended June 30, 2025, the company recorded a net loss of $54.5 million, up from $40.0 million in the prior year. The increase in losses is attributed primarily to heightened research and development expenses, which rose to $22.9 million for the quarter and $46.2 million for the half-year, reflecting ongoing clinical trial costs associated with its lead candidate, bel-sar.

The company’s total operating expenses for the second quarter of 2025 were $28.6 million, a 25.7% increase from $22.8 million in the same quarter of 2024. This rise was driven by a significant increase in clinical trial expenditures, particularly for the global Phase 3 trial of bel-sar, which is being evaluated for the treatment of early choroidal melanoma. General and administrative expenses slightly decreased to $5.7 million from $5.9 million year-over-year, primarily due to reduced professional fees.

In terms of liquidity, Aura Biosciences reported cash and cash equivalents of $107.4 million as of June 30, 2025, a substantial increase from $31.7 million at the end of 2024. This increase was bolstered by the successful completion of a follow-on offering in May 2025, which generated approximately $69.9 million in net proceeds. The company’s total assets grew to $204.4 million, up from $182.5 million at the end of the previous fiscal year, while total liabilities decreased slightly to $29.8 million.

Operationally, Aura has made significant strides in its clinical development programs. The company is advancing bel-sar not only for choroidal melanoma but also for other indications, including bladder cancer. The ongoing Phase 3 trial is expected to complete enrollment by the end of 2025, and initial data from a Phase 2 trial in metastases to the choroid is anticipated in 2025. As of June 30, 2025, the company had 62.1 million shares outstanding, reflecting its capital-raising activities.

Looking ahead, Aura Biosciences anticipates continued increases in research and development expenses as it progresses through its clinical trials. The company expects its existing cash and marketable securities to fund operations into the first half of 2027, although it acknowledges the need for additional capital to support its growth strategy and ongoing clinical development efforts. The company remains focused on its goal of developing innovative therapies for solid tumors, with a particular emphasis on preserving organ function and improving patient outcomes.