SHARPE
Reported results
- Research and development expenses were $166.8 million for the three months ended September 30, 2026, compared to $90.0 million for the same period in 2025.
- General and administrative expenses were $20.3 million for the three months ended September 30, 2026, compared to $8.6 million for the same period in 2025.
- Net loss was $183.2 million, or $1.55 per share, for the three months ended September 30, 2026, compared to a net loss of $90.8 million, or $0.81 per share, for the three months ended September 30, 2025.
- Cash, cash equivalents, and short-term investments totaled $960 million as of September 30, 2026, compared to $706 million as of December 31, 2025.
Price and volatility reaction
The stock moved +5.9% on the print. No front-expiry chain was on file, so there is no straddle expected move. 30-day ATM implied volatility moved -6.3 vol points across the event (constant-maturity series — not the front-week crush).
| Measure | Value | Basis |
|---|---|---|
| Close before release | 25.36 | 2026-10-28 |
| Close after release | 26.86 | 2026-10-29 |
| Realised move | +5.9% | close to close |
| 30d ATM IV change | -6.3 vol pts | constant-maturity series, not the front expiry |
Source
The figures above come from the earnings release the company filed with the SEC on 2026-10-28 (8-K, Item 2.02). Read the original filing on sec.gov.