Damora Therapeutics, Inc.

What they do

Damora is developing three antibody product candidates designed to treat myeloproliferative neoplasms (MPNs), a group of chronic bone marrow disorders. Its lead candidate, DMR-001, targets mutant forms of the calcium binding protein calreticulin (mutCALR) for essential thrombocythemia (ET) and myelofibrosis (MF); DMR-002 and DMR-003 are earlier mutCALR-targeting candidates, with DMR-003 also targeting CD-3. The company has exercised options to license exclusive worldwide development and commercialization rights to DMR-001 and DMR-002 from Paragon Therapeutics and holds an option on DMR-003. It has no approved products and no product revenue.

Revenue drivers

• DMR-001 (lead candidate) — Preclinical Fc-null antibody targeting mutCALR for ET and MF; the company states it recently received approval to begin a Phase 1/1b clinical trial and is the primary focus of development spending. No product revenue.
• DMR-002 — Preclinical afucosylated antibody designed to enhance antibody-dependent cellular cytotoxicity; licensed from Paragon in April 2026. No product revenue.
• DMR-003 — Preclinical bi-specific mutCALR and CD-3-targeting candidate; option to license from Paragon remains unexercised. No product revenue.

Recent performance

Damora reported no product revenue in any period; net losses were $51.8M (2021), $61.6M (2022), $38.3M (2023), $21.4M (2024) and $209.8M (2025). Operating cash use declined from $52.3M (2021) to $6.7M (2025). Diluted EPS was $3.98 in 2025 versus -$18.53 in 2024. As of June 30, 2026, the company reported total assets of $543.6M, total liabilities of $27.6M, shareholder equity of $516.1M and cash and equivalents of $540.5M.

Strategy

The company's stated priority is to rapidly advance its mutCALR-targeted pipeline into clinical development, beginning with DMR-001. It plans to submit an IND or CTA for DMR-001 in mid-2026, for DMR-002 in the second half of 2026 and for DMR-003 in 2027. It expects two clinical proof-of-concept datasets for DMR-001 beginning mid-2027. The strategy is funded by approximately $285M from a concurrent private investment tied to the November 2025 acquisition of privately held Damora and approximately $316M in gross proceeds from a February 2026 public offering.

Risks

• Preclinical stage with no approved products — The company has no products approved for commercial sale and no products that have been administered to humans, making its likelihood of success difficult to evaluate.
• Dependence on DMR-001 — The company states it is substantially dependent on the success of DMR-001, and its anticipated future clinical trials may not be successful.
• Need for substantial additional capital — Damora states it will require substantial additional capital in the future and may be forced to delay, reduce or eliminate research programs or commercialization efforts if it cannot raise capital on acceptable terms.
• Reliance on third-party collaborations — The company relies on collaborations and licensing arrangements with third parties, including Paragon, and its business could be negatively impacted if those arrangements are not maintained or are unsuccessful.

Outlook

Management expects to submit an IND or CTA for DMR-001 in mid-2026, for DMR-002 in the second half of 2026 and for DMR-003 in 2027, and to present two clinical proof-of-concept datasets for DMR-001 beginning mid-2027. The company states its cash position provides an anticipated runway into Phase 3 development of DMR-001. Management describes approximately 42,000 patients in the United States living with mutCALR-driven MPNs as the target population.