Aura Biosciences, Inc. reported its financial results for the third quarter of 2025, revealing a net loss of $26.1 million, compared to a net loss of $21.0 million for the same period in 2024. For the nine months ended September 30, 2025, the company recorded a net loss of $80.6 million, up from $61.1 million in the prior year. The increase in losses is attributed primarily to heightened research and development expenses, which rose to $22.2 million in the third quarter from $17.0 million in the previous year, driven by ongoing clinical trial costs associated with its lead candidate, bel-sar.
Total operating expenses for the third quarter of 2025 were $27.9 million, a 19% increase from $23.2 million in the same quarter of 2024. Research and development expenses accounted for the majority of this increase, reflecting the company's commitment to advancing its clinical programs. General and administrative expenses decreased slightly to $5.7 million from $6.2 million, primarily due to reduced professional fees. The company’s cash and cash equivalents, along with marketable securities, totaled $161.9 million as of September 30, 2025, providing a runway to fund operations into the first half of 2027.
Aura Biosciences has made significant strides in its clinical development, particularly with bel-sar, which is currently in a global Phase 3 trial for the treatment of early choroidal melanoma. The company anticipates completing enrollment for this trial by 2026 and expects to report top-line data in late 2027. Additionally, bel-sar is being evaluated for other indications, including metastases to the choroid and bladder cancer, with early proof-of-concept data expected in 2026.
The company has also strengthened its financial position through capital raises, including a follow-on offering in May 2025 that generated approximately $69.9 million in net proceeds. This followed a successful offering in November 2023, which raised $92.6 million. As of September 30, 2025, Aura had 62.9 million shares outstanding, a significant increase from 50.0 million shares at the end of 2024, reflecting its ongoing efforts to raise capital to support its operations and clinical development.
Looking ahead, Aura Biosciences anticipates continued increases in research and development expenses as it advances its clinical trials and expands its product pipeline. The company remains focused on securing additional funding to support its growth strategy, which may include equity offerings, collaborations, or other strategic transactions. The successful development and commercialization of its product candidates will be critical for achieving profitability in the future.
About Aura Biosciences, Inc.
Aura Biosciences, Inc. is a clinical-stage biotechnology company developing precision oncology therapies focused on solid tumors to preserve organ function. Its lead product candidate, belzupacap sarotalocan (bel-sar), is a virus-like drug conjugate designed for targeted, light-activated tumor cell killing and immune activation. Aura targets ocular and urologic cancers, including choroidal melanoma and bladder cancer, aiming to offer vision- and organ-sparing treatments with potential long-term antitumor immunity.
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