AURA Stock — Aura Biosciences Inc.: Cash, EV, Pipeline

What they do

We are a clinical-stage biotechnology company developing precision therapies to treat solid tumors designed to preserve organ function. Our lead candidate bel-sar is in late-stage clinical development for the treatment of patients with early choroidal melanoma (defined as small choroidal melanoma and/or indeterminate lesions) and is also in clinical development for other ocular oncology indications and bladder cancer.

Source: 10-K FY2025 via SEC EDGAR

Share price

$7.12

Market cap

$741.0M

Cash

$297.2M

Enterprise value

$443.8M

Balance sheet

Cash	$297.2M
Debt	$0.0M
Net cash	$297.2M
Enterprise value	$443.8M
Basic shares	104.1M shares
Fully diluted shares	131.1M shares
Fully diluted market cap	$933.5M
Cash per share	$2.86
Quarterly burn	$32.5M
Cash runway	9.1 quarters

Cash figures as of 2026-09-30. Database snapshot: 2026-11-13.

Share structure

Common

103.7M

Pre-funded warrants

7.4M

Options

10.1M

RSUs

4.3M

Warrants

3.8M

Converts

0.0M

Conv preferred

0.0M

ESPP reserve

1.9M

FDSO

131.1M

Cap table as of 2026-06-30.

Price history

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Next catalyst

AU-011 · Jan 11 - Feb 22 in 8 wks · Phase 2 · Eye Cancer; Primary Cancer

Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
Jan 11 - Feb 22 in 8 wks	AU-011	Phase 2	Eye Cancer; Primary Cancer	—
Apr 12 - May 24 in 5 mo	AU-011	Phase 1	Non-muscle-invasive Bladder Cancer; NMIBC; Non-Muscle Invasive Bladder Carcinoma	—
GUIDEDEst. Sep 30, 2027 in 8 mo half midpoint	bel-sar CoMpass Phase 3 in early choroidal melanoma	Phase 3	early choroidal melanoma	2H 2027
Dec 27, 2027 - Feb 7, 2028 in 14 mo	Bel-sar	Phase 3	Choroidal Melanoma; Indeterminate Lesions; Uveal Melanoma	—

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

Belzupacap sarotalocan

Phase 3 · Active Modality: virus-like drug conjugate (VDC)

Aliases bel-sar

Target Modified tumor-associated glycosaminoglycans / heparan sulfate proteoglycans (HSPGs)

Indications

Early choroidal melanoma (small choroidal melanoma and/or indeterminate lesions) (Phase 3)
Metastases to the choroid (Phase 2)
Cancers of the ocular surface (Phase 1)
Non-muscle invasive bladder cancer (NMIBC) (Phase 1)

Catalysts

— second half of 2027

Status note Only product candidate; company heavily dependent on its success. Global Phase 3 CoMpass trial under Special Protocol Assessment with FDA; enrollment completed. NMIBC Phase 1b/2 interim data announced August 2026. No revenue to date.

Per-asset detail extracted from the 10-Q filed 2026-08-11. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	Bel-sar
Lead indication	Choroidal Melanoma
Lead phase	Phase 3
Active trials	6

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT06007690	Phase 3	Active, not recruiting	Sponsor	Aura Biosciences	—	Choroidal Melanoma; Indeterminate Lesions; Uveal Melanoma	—
NCT06643884	Phase 2	Recruiting	Sponsor	Aura Biosciences	—	Eye Cancer; Primary Cancer	—
NCT05483868	Phase 1	Active, not recruiting	Sponsor	Aura Biosciences	—	Non-muscle-invasive Bladder Cancer; NMIBC; Non-Muscle Invasive Bladder Carcinoma	—
NCT07421739	Not disclosed	Recruiting	Sponsor	Aura Biosciences	—	Choroidal Melanoma; Indeterminate Lesions; Uveal Melanoma	—
NCT03941379	Not disclosed	Active, not recruiting	Sponsor	Aura Biosciences	—	Choroidal Melanoma; Indeterminate Lesions of Eye	—
NCT07338968	Not disclosed	Enrolling by invitation	Sponsor	Aura Biosciences	—	Choroidal Melanoma; Indeterminate Lesions	—

Sponsor-matched active trials from ClinicalTrials.gov (6 as sponsor, 0 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 6 active trials for Aura Biosciences on ClinicalTrials.gov

Specialist fund holders

Tracked specialist funds: ADAR1 Capital Management, Aisling Capital, Ally Bridge Group, Avoro Capital Advisors, BVF Partners, Baker Bros. Advisors, Boxer Capital, Braidwell LP, Casdin Capital, Cormorant Asset Management, DAFNA Capital, Deerfield Management, EcoR1 Capital, Frazier Life Sciences, Great Point Partners, Ikarian Capital, Logos Global Management, OrbiMed Advisors, Perceptive Advisors, RA Capital Management, RTW Investments, Sphera Biotech, Stonepine Capital, Tang Capital Partners, Vivo Capital.

Fund	Shares	Q/Q change	% of portfolio	Filing
Frazier Life Sciences	7,100,000	+2,000,000	1.10%	2026-08-14
OrbiMed Advisors	3,333,333	+3,333,333	0.45%	2026-08-14
RA Capital Management	2,500,000	+2,500,000	0.15%	2026-08-14
EcoR1 Capital	1,666,667	+1,666,667	0.59%	2026-08-14
Vivo Capital	1,166,667	+1,166,667	0.76%	2026-08-14
ADAR1 Capital Management	130,152	+130,152	0.04%	2026-08-14

Specialist-fund positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

Latest news

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AURA — Aura Biosciences Inc. ☆