Intensity Therapeutics, Inc.

Good morning and welcome to the Intensity Therapeutics second quarter 2026 financial results conference call. Joining the call today is Lewis H. Bender, Intensity's president and CEO, and Joseph Talamo, Intensity's chief financial officer. Shortly before this call, Intensity issued a press release announcing its second quarter 2026 financial results. which is available under the news and events section of the company's website. Shortly after this webcast, a replay of this call will also be posted. Before we begin, the company reminds you that comments made by management during this conference call contain forward-looking statements that involve risks and uncertainties regarding the operations and future results of Intensity Therapeutics. These statements include but are not limited to Statements relating to the company's expected future plans, cash runway, development activities, projected milestones, business activities or results. Forward-looking statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results or events to material differ from those anticipated. Additional information regarding these risks and uncertainties is included in the company's earnings release issued today. For a more complete list and description of risk factors, they encourage you to review the company's filings with the Securities and Exchange Commission, including, without limitation, its forms 10-K, 10-Q, and 8-Ks. Furthermore, the content of this conference call contains time-sensitive information that is accurate only as of the date of this live broadcast, Tuesday, August 11, 2026. Except as required by law, the company disclaims any intention or obligation to update or revise any forward-looking statements. I will now turn the call over to Mr. Bender, Intensities President and CEO.

Thank you, Betsy, and thank you to everyone for joining us this morning. It is my pleasure to provide the latest update of our company's progress in the Invincible III and Invincible IV studies, our business development activities, and our plans for the second half of 2026. But first, I will turn the call over to Joe Talamo to discuss our second quarter of 2026 financial results. Joe?

Thanks, Lew, and good morning. I am pleased to join you today to present a summary of our second quarter 2026 financial results. Our research and development expenses were $1.8 million for the second quarter of 2026, compared with $1.5 million for the same prior year period, reflecting an increase of $292,000, or 19%. Clinical trial expenses which primarily consists of our Phase III Invincible III study costs were $1.2 million during the second quarter of 2026 compared with $936,000 in the same prior year period. As previously reported, we initiated plans in April 2026 to resume enrollment in the Invincible III study in a limited number of U.S. sites after pausing new site activations and patient enrollment in March 2025 due to funding constraints. During this pause, we continue to treat or monitor patients enrolled in the study in cooperation with our CROs. We have prioritized commencing full patient enrollment and site activations once sufficient incremental funding is obtained. Clinical trial expenses also included to a lesser extent costs related to our Phase 2 Invincible 4 study, which resumed patient treatment in July 2026. We will provide an operational update on both studies shortly. In addition, research and development employee compensation-related costs were $106,000 higher during the second quarter of 2026, which were offset by $113,000 of lower and the Board of Directors of the Board of Directors of the Board of Directors of the Board of Directors employee compensation related costs, and $155,000 in higher other G&A expenses, including Delaware franchise costs. These increases were partially offset by $144,000 of lower stock-based compensation expense during the current quarter. Overall, net losses were $3 million for the second quarter of 2026, compared with $2.5 million for the second quarter of 2025, representing an increase in net loss of $470,000 or 19%. Turning now to our balance sheet and cash flow, as of June 30, 2026, we had cash and cash equivalents of $9.5 million. During the second quarter of 2026, We raised $1.6 million in net proceeds from the issuance of common stock under our $60 million at-the-market facility, which was established in March 2026. Since June 30, 2026, we have also raised an additional $1.3 million in net proceeds under the ATM facility, and we expect to continue to use this facility opportunistically to raise capital as we seek to scale up our clinical activities moving forward. Lastly, our cash burn from operating activities for the first half of 2026 was $4.2 million, and we estimate that our operating cash burn will average approximately $1 million per month in the second half of 2026. With that, I will now turn the call back to Lou for a discussion on our clinical programs and business development activities. Lou? Thank you, Joe.