Kalaris Therapeutics, Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Research and development | $30.8M | $45.0M | $133.1M | $118.9M | $120.7M |
| Operating expenses | $46.2M | $51.7M | $199.9M | $171.2M | $169.8M |
| Operating income | -$46.2M | -$51.7M | -$199.9M | -$171.2M | -$169.8M |
| Interest expense | $1.4M | $2.7M | — | — | — |
| Pretax income | -$43.4M | -$69.2M | -$190.5M | -$169.0M | -$171.0M |
| Income tax expense | $0 | $0 | -$126,000 | -$265,000 | $1.0M |
| Net income | -$43.4M | -$69.2M | -$190.4M | -$168.7M | -$172.0M |
| Balance Sheet | |||||
| Cash and equivalents | $98.1M | $1.6M | $90.1M | $106.1M | $201.7M |
| Current assets | $118.8M | $2.6M | $187.6M | $243.1M | $253.3M |
| Total assets | $121.7M | $6.2M | $190.8M | $277.1M | $286.6M |
| Current liabilities | $9.7M | $24.7M | $28.4M | $24.3M | $37.9M |
| Total liabilities | $42.9M | $56.8M | $45.0M | $52.6M | $61.3M |
| Stockholders' equity | $78.8M | -$96.6M | -$45.0M | $224.5M | $225.3M |
| Cash Flow Statement | |||||
| Cash from operations | -$38.4M | -$20.7M | -$124.5M | -$142.1M | -$106.3M |
| Depreciation and amortization | $13,000 | — | $398,000 | $723,000 | $189,000 |
| Stock-based compensation | $1.9M | $895,000 | $40.8M | $41.3M | $44.0M |
| Capital expenditure | $200,000 | — | — | — | $26,000 |
| Free cash flow | -$38.6M | — | — | — | -$106.3M |
| Share repurchases | — | $32,000 | — | — | — |
| Impairments | — | $0 | $18.6M | $0 | $0 |
Shares outstanding 23.8M
Annual filing data through FY ended December 31, 2025; float as of July 15, 2026.