Chemomab Therapeutics Ltd. is an Israeli clinical-stage biotechnology company founded in 2011 and headquartered at Habarzel Street in Tel Aviv that has, for more than a decade, pursued a single scientific hypothesis. The hypothesis is that the chemokine CCL24 sits at a regulatory node between inflammation and fibrosis, and that neutralizing it with a monoclonal antibody could change the trajectory of diseases where neither anti-inflammatory drugs nor anti-fibrotic drugs have delivered. The asset that embodies that hypothesis is nebokitug, a first-in-class anti-CCL24 antibody that completed a Phase 2 trial in primary sclerosing cholangitis. The asset is, by the late-summer 2026 reporting cadence, being repositioned by an all-stock merger with the U.S. precision-medicine company Scipher Medicine into a rheumatoid arthritis program alongside the existing PSC optionality. The second-quarter 2026 reporting package also includes a parallel cash runway disclosure that places operations through the first quarter of 2027 on the standalone basis. The announced Scipher transaction closing is set to inject a fresh $30M private placement and a $150M pro-forma enterprise valuation.
The load-bearing observation is that the issuer is in a transition quarter rather than a steady-state quarter. Research and development expense declined in the second quarter of 2026 versus the comparable 2025 quarter. General and administrative expense edged up modestly in the same comparison. Net loss for the second quarter of 2026 was approximately $2.2M. The net loss for the second quarter of 2025 was approximately $2.1M. The cash and short-term investments position was approximately $6.7M at mid-year. The body language is that of a clinical-stage issuer consuming roughly $1.5M of cash per quarter while it waits for the Scipher closing, the PSC partnership readout, and the next clinical milestone. The restructuring narrative embedded in the announcement, with the combined company to operate under the SCIP ticker, is the operative event.
The forward-looking elements of the late-summer 2026 record are concentrated in four signals. The first is the timeline for the proposed Scipher merger, with closing expected before year-end 2026 subject to SEC review and shareholder approval. The second is the Phase 2 rheumatoid arthritis trial of nebokitug. The third is the contingent value rights structure for legacy Chemomab holders. The fourth is the management commentary that a potential partner for a Phase 3 PSC trial of nebokitug remains an open option. The interplay between the merger timing, the PSC partnership optionality, and the runway through 2027 is the framing investors need.