Aura Biosciences cuts about 20% of workforce, expects cash runway into 2029

Aura Biosciences, Inc. (NASDAQ: AURA) said on August 11, 2026, that it has streamlined its operating plan and organizational structure around ocular oncology. The changes include a reduction in force of approximately 20% of the workforce. The company says the cuts, with what it calls disciplined capital allocation, extend its projected cash runway into the first half of 2029.

The lead program and its trial

Aura describes its lead candidate, belzupacap sarotalocan, or bel-sar, as a first-in-class therapy for ocular cancers. The lead study is the Phase 3 CoMpass trial in early choroidal melanoma. The company says it is the first registration-enabling study in that disease. The trial is fully enrolled with 108 patients, above its enrollment target. Topline data from the 15-month primary endpoint remain on track for the second half of 2027.

The trial runs under a Special Protocol Assessment agreement with the U.S. Food and Drug Administration. The company says that reflects alignment with the FDA on the trial design and planned analyses to support a potential Biologics License Application. The release says no FDA-approved drug therapy currently exists for the condition. No trial results are reported in the release. The Phase 3 readout is not due until the second half of 2027, and the release gives no date for a BLA submission.

The bladder program and the interim data

Aura is minimizing resources for its non-muscle invasive bladder cancer program, though it will finish data collection through the protocol's 12-month follow-up. The data come from an ongoing Phase 1b/2 dose-escalation study. Among intermediate-risk patients, 81% achieved an objective response at 3 months, including 69% with a complete response at that timepoint. Those figures come from eight patients treated with bel-sar alone (n=8) and eight treated with TURBT (n=8).

The company also reports that 100% of evaluable patients remain disease-free at the time of assessment. That figure covers four patients at the 9-month timepoint (n=4) and three at 12 months (n=3). High-risk cohorts are still collecting three-month data. The company says bel-sar has a favorable safety profile, with treatment-related adverse events limited to Grade 1 events, no dose-limiting toxicities and no treatment-related serious adverse events. The release calls the data encouraging but early. The company says it wants to keep the option of future strategic discussions.

Aura is also advancing bel-sar in metastases to the choroid and in cancers of the ocular surface. The company says it is increasing resources for both programs, even as it cuts about 20% of its workforce. It expects to give an update on both, including guidance on study completion, in the first quarter of 2027.

Restructuring, leadership and cash

Tony Gibney, the chief financial and business officer, and Conor Kilroy, the chief legal officer, are stepping down. Mark Plavsic has stepped down as chief technology officer. Susan Abu-Absi, Erica Kratz and Julie Person were named chief operating officer, chief regulatory and quality officer and chief people officer.

As of June 30, 2026, Aura had cash and cash equivalents and marketable securities totaling $323.8 million. The company says that is sufficient to fund operations into the first half of 2029. Net loss for the second quarter was $45.6 million, compared with $27.0 million a year earlier. Research and development expense rose to $30.7 million from $22.9 million. General and administrative expense rose to $17.3 million from $5.7 million. The company says the increase was primarily driven by stock-based compensation of $10.3 million, against $1.8 million a year earlier, tied to equity award modifications made with executive leadership transitions, as well as higher professional fees.

The company estimates restructuring charges of $2.9 million to $3.2 million, mostly severance and accelerated vesting, with the plan substantially complete by the end of the third quarter of 2026.

The full-year figures in the annual report filed on March 30, 2026 show a net loss of $106.2 million for 2025, up from $86.9 million in 2024. Cash used in operations was $84.7 million in 2025, against $79.8 million in 2024. Research and development expense was $90.3 million in 2025 and $73.3 million in 2024.

Report an error

Companies in this story

AURAAura Biosciences, Inc.NASDAQ · United StatesOpen the starter desk