Contineum Therapeutics reported second-quarter 2026 financial results with a net loss of $15.2 million and cash reserves of $236.6 million as of June 30, 2026. The company affirmed key clinical milestones, including the initiation of patient dosing in its Phase 2 PROPEL-IPF trial for PIPE-791 and the completion of enrollment by Johnson & Johnson in the MOONLIGHT-1 trial for PIPE-307. Research and development expenses decreased 10% to $12.7 million, while general and administrative expenses rose 23% to $4.7 million due to higher stock-based compensation. The company also announced a workforce reduction affecting its research team, including Chief Scientific Officer Daniel Lorrain, as it streamlined discovery programs. Contineum Therapeutics operates in the biopharmaceutical industry, developing small molecule therapies for inflammatory and fibrotic diseases.