CAMP4 Therapeutics Corporation reported its financial results for the third quarter of 2025, revealing a research and collaboration revenue of $795,000, a significant increase from zero revenue in the same period last year. For the nine months ending September 30, 2025, total revenue reached $3.15 million, attributed primarily to a collaboration agreement with BioMarin Pharmaceutical Inc. The company incurred a net loss of $15.1 million for the quarter, compared to a loss of $13.5 million in the prior year, and a total net loss of $40.1 million for the nine-month period, up from $38.5 million in 2024.
Operating expenses for the third quarter totaled $14.4 million, an increase from $13.5 million in the same quarter of 2024. Research and development expenses slightly decreased to $9.4 million from $9.7 million, while general and administrative expenses rose to $4.6 million, up from $3.8 million. The increase in G&A expenses was primarily due to higher professional and consulting fees, reflecting costs associated with the company's recent private placement and other operational needs. Additionally, the company recognized a $494,000 impairment charge related to a right-of-use asset after vacating its Boulder, Colorado location.
CAMP4 Therapeutics has made strategic moves to bolster its financial position, including a private placement that raised approximately $46.7 million in September 2025. This funding is expected to support ongoing research and development activities, particularly for its SYNGAP1-related disorders program, which is advancing toward clinical trials. The company also reported a cash and cash equivalents balance of $75.3 million as of September 30, 2025, which it anticipates will be sufficient to fund operations into 2027.
The company has been focusing on its proprietary RAP Platform to develop RNA-targeting therapeutics aimed at treating genetic diseases. It is currently advancing its lead candidate, CMP-002, for SYNGAP1-related disorders, with plans to initiate a global Phase 1/2 clinical trial in the second half of 2026, pending successful completion of toxicology studies. Despite the promising developments, CAMP4 acknowledges the ongoing risks and uncertainties associated with its business model, including the need for additional funding to support its operations and product development efforts.
Looking ahead, CAMP4 Therapeutics aims to continue leveraging its RAP Platform to identify and develop new product candidates while managing its operational costs. The company remains committed to addressing significant unmet medical needs in genetic diseases, although it recognizes the challenges of achieving profitability in the near term. The management's outlook emphasizes the importance of securing additional funding and strategic partnerships to sustain its growth trajectory and advance its clinical programs.
About Camp4 Therapeutics Corp
CAMP4 Therapeutics is a biopharmaceutical company developing RNA-based therapeutics to upregulate gene expression and treat genetic diseases. Its proprietary RAP Platform identifies regulatory RNAs to create antisense oligonucleotides that modulate gene activity. Focused on metabolic and neurological disorders, the company aims to deliver targeted, disease-modifying treatments with broad applicability across haploinsufficient and loss-of-function conditions.
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