Chemomab Therapeutics Ltd. (CMMB): History, Ownership, Mission, How It Works & Makes Money

With a potential $1+ billion market opportunity in Primary Sclerosing Cholangitis (PSC) alone, is Chemomab Therapeutics Ltd. (CMMB) truly on the cusp of a major breakthrough in treating severe fibro-inflammatory diseases? The company's lead candidate, nebokitug, a first-in-class monoclonal antibody that neutralizes the key pro-fibrotic protein CCL24, secured a critical win in Q1 2025 by aligning with the FDA on a streamlined Phase 3 path for potential regulatory approval. Still, the reality check is that this clinical-stage biotech reported only $10.6 million in cash as of March 31, 2025, giving them a runway only into Q2 2026, so understanding their core mission and revenue model is defintely critical right now. You need to know how they plan to bridge that funding gap and capitalize on this enormous unmet medical need.

Chemomab Therapeutics Ltd. (CMMB) History

You're looking for the foundational story of Chemomab Therapeutics Ltd. to understand its current valuation, and the answer is rooted in a deliberate, long-term focus on a single, powerful biological target. The company's trajectory from a small Israeli biotech startup to a Nasdaq-listed, clinical-stage entity is a classic example of de-risking a novel mechanism of action, specifically targeting the protein CCL24 to treat devastating fibro-inflammatory diseases like Primary Sclerosing Cholangitis (PSC).

Chemomab Therapeutics Ltd.'s Founding Timeline

Year established

Chemomab Therapeutics Ltd. was established on September 22, 2011.

Original location

The company was founded and remains headquartered in Tel Aviv, Israel, operating from the Kiryat Atidim/Airport City area.

Founding team members

The company was co-founded by two key figures: Dr. Adi Mor, PhD, who serves as the Co-Founder, Chief Executive Officer (CEO), and Chief Scientific Officer (CSO), and Dr. Dov Zeltzer, Co-Founder.

Initial capital/funding

While the exact initial seed capital is not publicly detailed, the company's early development was funded through private investment rounds before its significant public market debut. Later, pivotal funding events included a $25 million financing round in 2020 and raising approximately $20 million in its 2021 Initial Public Offering (IPO) on the Nasdaq Capital Market.

Chemomab Therapeutics Ltd.'s Evolution Milestones

The company's evolution is defined by the clinical progress of its lead candidate, nebokitug (CM-101), a first-in-class monoclonal antibody. Each milestone has been a step toward validating the therapeutic potential of neutralizing the CCL24 protein. Exploring Chemomab Therapeutics Ltd. (CMMB) Investor Profile: Who's Buying and Why?

Chemomab Therapeutics Ltd.'s Transformative Moments

The company's journey has been marked by strategic shifts that crystallized its focus and accelerated its path to market. These decisions are why Chemomab is positioned as it is today, with a market capitalization of approximately $21.1 million as of July 2025.

The most defintely transformative decisions include:

• Focus on Fibrotic Diseases: An early strategic decision to concentrate the CM-101 program on fibro-inflammatory diseases, particularly rare conditions like Primary Sclerosing Cholangitis (PSC) and Systemic Sclerosis (SSc), allowed Chemomab to target areas with high unmet medical need and streamlined development efforts.
• The Nasdaq Public Listing (2021): The merger with Anchiano Therapeutics and subsequent listing under the ticker CMMB was a critical corporate transformation. It provided the necessary capital-raising about $20 million-and the public platform to fund expensive late-stage clinical trials.
• FDA Regulatory Alignment (2025): Achieving a clear regulatory pathway with the FDA in early 2025 for nebokitug in PSC is the most recent and significant shift. The agreement for a single pivotal Phase 3 trial based on clinical events, rather than liver biopsies, substantially derisks the program and accelerates the timeline to potential full regulatory approval.

Here's the quick math: The company's net loss improved from $3.9 million in Q1 2024 to $3.3 million in Q1 2025, and further to $2.1 million in Q2 2025, reflecting a significant drop in Research and Development (R&D) expenses as the Phase 2 trial concluded. This financial discipline, coupled with the FDA alignment, extends their cash runway through the second quarter of 2026, giving them a solid window to secure a strategic partnering deal for the Phase 3 program.

Chemomab Therapeutics Ltd. (CMMB) Ownership Structure

Chemomab Therapeutics Ltd. is a publicly traded, clinical-stage biotechnology company, meaning its ownership is distributed among various investor classes, from large financial institutions to individual retail traders. This blend of institutional and retail capital creates a dynamic ownership structure, which is common for a company listed on the Nasdaq Capital Market (NasdaqCM: CMMB) with a market capitalization of approximately $15.9 million as of late 2025.

Chemomab Therapeutics Ltd.'s Current Status

The company operates as a public entity, trading its American Depositary Shares (ADS) on the NasdaqCM under the ticker symbol CMMB. Being publicly listed provides capital access for its drug development pipeline, which is currently advancing three Phase 2 clinical trials for its lead candidate, nebokitug (CM-101), targeting rare fibro-inflammatory conditions. [cite: 5, 11 from first search]

As of November 10, 2025, the share price stood at approximately $2.70 per share. [cite: 4 from first search] The market's perception of its clinical progress is defintely reflected in this valuation, so understanding who holds the stock is crucial for mapping future stock volatility and strategic direction. Exploring Chemomab Therapeutics Ltd. (CMMB) Investor Profile: Who's Buying and Why?

Chemomab Therapeutics Ltd.'s Ownership Breakdown

The company's decision-making structure is heavily influenced by a significant institutional presence, which includes major investment firms like Orbimed Advisors LLC and Sphera Funds Management LTD. Here's the quick math on how the share ownership breaks down across the three primary investor groups, based on the most recent 2025 fiscal year data:

Chemomab Therapeutics Ltd.'s Leadership

The company is steered by an experienced leadership team with deep roots in biotechnology and drug development, ensuring precision in its clinical and financial strategy. The average tenure for the board of directors is about 4.7 years, providing a stable governance foundation. [cite: 7 from first search]

The key executives driving the organization as of November 2025 are:

• Adi Mor, PhD: Co-Founder, Chief Executive Officer (CEO), and Chief Scientific Officer (CSO). Dr. Mor has led the company since its founding in 2011 and her total yearly compensation is approximately $700.00K. [cite: 7 from first search, 8 from first search]
• Nissim Darvish, MD, PhD: Board Chairman. He has served as Chairman since 2023, bringing extensive venture capital and life sciences investment experience from firms like OrbiMed Israel. [cite: 8 from first search, 12 from first search]
• Sigal Fattal: Chief Financial Officer (CFO). Ms. Fattal joined in 2021 and has a track record of leading successful IPOs and managing corporate finance for biotech companies. Her compensation is around $322k. [cite: 8 from first search, 1]
• David M. Weiner, MD: Interim Chief Medical Officer (CMO). Dr. Weiner took on this role in April 2025, bringing 30 years of experience in therapeutic discovery and development. [cite: 8 from first search, 10 from first search]

This leadership structure shows a clear commitment to scientific and clinical execution, plus a seasoned financial hand at the helm. If the Phase 2 trials continue to deliver positive data, you should expect this team to focus on securing a strategic partnership or a larger financing round next.

Chemomab Therapeutics Ltd. (CMMB) Mission and Values

Chemomab Therapeutics Ltd.'s mission is fundamentally about pioneering new drug treatments for severe fibro-inflammatory diseases, driven by a core commitment to scientific rigor and patient needs. This cultural DNA, focused on addressing high unmet medical needs, defines their long-term aspirations beyond simple revenue targets.

Chemomab Therapeutics Ltd.'s Core Purpose

You're looking at a company whose value proposition is tied directly to its research pipeline, so their mission isn't just marketing-it's their business model. Chemomab's focus is on developing a first-in-class monoclonal antibody, nebokitug (CM-101), to neutralize the protein CCL24, which is a key driver of fibrosis and inflammation. This is a high-risk, high-reward approach, but it's defintely patient-centric.

• Scientific Excellence: Targeting the root causes of fibrosis and inflammation with novel mechanisms, as seen in their work on the CCL24 pathway.
• Patient-Centricity: Focusing on rare, debilitating conditions like Primary Sclerosing Cholangitis (PSC) that currently lack effective, disease-modifying therapies.
• Commitment to Unmet Medical Needs: Advancing drug candidates through complex clinical development to bring meaningful therapies to patients with limited options.

Official Mission Statement

The company's formal mission is a clear directive: to discover, develop, and commercialize innovative therapeutics for fibrotic and inflammatory diseases with high unmet need. This is a tough road; for context, Chemomab reported a net loss of $2.1 million in the second quarter of 2025, which shows the cost of this mission-critical R&D.

• Discover, develop, and commercialize innovative therapeutics.
• Target the root causes of fibrosis and inflammation.
• Bring meaningful therapies to patients with limited treatment options.

Vision Statement

Chemomab Therapeutics Ltd. envisions becoming a leader in the development of innovative therapies for fibro-inflammatory diseases. This vision is supported by a clear regulatory pathway for their lead candidate, nebokitug, positioning it to potentially become the first FDA-approved treatment for PSC. The push to secure a strategic partner for the Phase 3 trial also underscores a vision focused on maximizing commercial and patient impact. You can dive deeper into the stakeholders driving this vision in Exploring Chemomab Therapeutics Ltd. (CMMB) Investor Profile: Who's Buying and Why?

• Pioneer new approaches to treat fibrosis and inflammation.
• Build a robust pipeline of novel drug candidates.
• Improve the lives of patients suffering from debilitating conditions.

Chemomab Therapeutics Ltd. Slogan/Tagline

While a concise, public-facing slogan isn't always formalized for a clinical-stage biotech, their consistent messaging centers on their therapeutic goal. The operational tagline is essentially a promise of innovation in a therapeutic area desperate for solutions.

• Pioneering First-in-Class Therapies for Fibro-Inflammatory Diseases.

Chemomab Therapeutics Ltd. (CMMB) How It Works

Chemomab Therapeutics Ltd. is a clinical-stage biotechnology company focused on developing a first-in-class drug, nebokitug, to treat severe fibro-inflammatory diseases where there are no approved therapies. The company's value is created by advancing this single, novel asset through a streamlined regulatory pathway toward commercialization, primarily by neutralizing the key inflammatory and pro-fibrotic protein CCL24.

Chemomab Therapeutics Ltd.'s Product/Service Portfolio

The company's entire focus is on its lead asset, nebokitug, which is a monoclonal antibody. As of November 2025, their portfolio is a pipeline of indications, not marketed products, with Primary Sclerosing Cholangitis (PSC) being the most advanced program.

Chemomab Therapeutics Ltd.'s Operational Framework

Since Chemomab is a clinical-stage biotech, it doesn't earn revenue from drug sales yet. The operational framework is built around managing clinical trials, securing regulatory approval, and maintaining a lean financial structure while seeking a strategic partner. Honestly, their primary operation right now is risk mitigation and partnership negotiation.

The company reported a net loss of approximately $3.3 million in the first quarter of 2025, with Research and Development (R&D) expenses at $2.5 million, reflecting the winding down of the Phase 2 trial. This is a burn rate that demands efficiency.

• Clinical Advancement: Focus on preparing for the single pivotal Phase 3 trial for nebokitug in PSC, following positive 48-week Phase 2 data presented in November 2025.
• Funding Strategy: Maintaining a cash runway projected to last through the second quarter of 2026, which is tight, so they are actively advancing multiple strategic partnering options to fund the costly Phase 3 program.
• Manufacturing & Supply: Aligned with the FDA on the Chemistry, Manufacturing, and Controls (CMC) strategy with their contract manufacturing partner, allowing for timely advancement without delays.
• Regulatory Streamlining: Submitted the Phase 3 protocol to the FDA and are engaging with the European Medicines Agency (EMA) for a global trial design.

Chemomab Therapeutics Ltd.'s Strategic Advantages

The company's competitive edge comes from its unique scientific platform and the regulatory clarity it has achieved for its lead program.

• Novel Mechanism of Action: Nebokitug is a first-in-class monoclonal antibody that targets and neutralizes the soluble protein CCL24, a central driver of fibrosis and inflammation. This is a novel approach in fibro-inflammatory diseases.
• Streamlined Regulatory Path: Achieved alignment with the FDA on a path to potential full regulatory approval for PSC using a single pivotal Phase 3 trial based on clinical events, which is a major derisking event. No liver biopsies or confirmatory studies are required.
• Data Differentiation: The Phase 2 SPRING trial demonstrated sustained or continued improvements in multiple key biomarkers, including ELF score and liver stiffness, in PSC patients, which is a strong signal in a disease lacking effective treatments.
• Intellectual Property (IP) Protection: Expanded patent portfolio to cover the use of nebokitug for liver diseases, including PSC, with protections extending up to 2041 in key territories like China and Russia.

If you want a deeper dive into the company's long-term vision, you should review their Mission Statement, Vision, & Core Values of Chemomab Therapeutics Ltd. (CMMB).

Chemomab Therapeutics Ltd. (CMMB) How It Makes Money

Chemomab Therapeutics Ltd. is a clinical-stage biopharmaceutical company, which means it currently makes $0.00 in revenue from selling commercialized products, as of the second quarter of 2025. Instead, the company sustains its operations and funds its research and development (R&D) primarily through equity financing from investors and strategic capital raises.

The entire financial engine right now is an investment in future product sales, specifically betting on the successful commercialization of its lead drug candidate, nebokitug (CM-101), for conditions like Primary Sclerosing Cholangitis (PSC). The company is spending money to earn the right to sell a drug later. That's the quick math.

Chemomab Therapeutics Ltd.'s Funding Breakdown

Since the company is pre-revenue, its operational funding comes entirely from capital sources, not sales. The table below illustrates the nature of their current financial inflows, which are essential to cover their net loss and R&D expenses.

Business Economics

The core economics of Chemomab Therapeutics Ltd. are not based on current sales volume, but on the future, high-margin potential of its proprietary monoclonal antibody, nebokitug. This is a classic biotech risk/reward profile.

• Future Revenue Model: The entire business model is built on securing regulatory approval for nebokitug, which is positioned to potentially become the first FDA-approved disease-modifying therapy for Primary Sclerosing Cholangitis (PSC). Once approved, revenue would come from direct sales of the drug, likely through specialty pharmacies given its Orphan Drug Designation.
• Pricing Strategy: Monoclonal antibodies for rare, high-unmet-need diseases like PSC typically command premium pricing. While the exact price is not public, the drug would be a high-cost specialty biologic, which is the only way to recoup the hundreds of millions in R&D investment.
• Market Opportunity: The global PSC market size was valued at $207.6 million in 2025, with North America holding a significant share. Capturing even a fraction of this market, especially as a first-in-class therapy, would be transformative.
• Strategic Partnership: The company is actively pursuing a strategic partner to fund and execute the Phase 3 clinical trial and commercialization. This partnership is a defintely critical economic lever that would bring in a large upfront payment, milestone payments, and future royalties, dramatically reducing Chemomab's financial risk.

The company must successfully transition from a capital-intensive research entity to a commercial one. You can read more about the long-term strategic goals in the Mission Statement, Vision, & Core Values of Chemomab Therapeutics Ltd. (CMMB).

Chemomab Therapeutics Ltd.'s Financial Performance

As of the most recent reporting period (Q2 2025), the company's financial health is defined by its burn rate and cash position, which is typical for a company with a drug in the late-stage pipeline.

• Cash Position: Cash and equivalents stood at $5.45 million as of June 30, 2025, down from $6.07 million at the end of 2024 [cite: 11 in first search]. This is a tight position.
• Cash Runway: Management projects the existing liquidity resources will fund operations through the second quarter of 2026. This makes securing a strategic partner in the near-term a critical action item.
• Net Loss: The net loss for the second quarter of 2025 was $2.1 million. This shows a reduction from the net loss of $3.3 million reported in the first quarter of 2025 [cite: 9 in first search].
• R&D Investment: Research and Development expenses were $2.5 million in the first quarter of 2025 [cite: 9 in first search]. This expense is the direct investment into the Phase 3 preparations for nebokitug.
• Market Valuation: The company's market capitalization was approximately $17.45 million as of August 2025 [cite: 11 in first search]. This valuation is highly sensitive to clinical trial progress and partnership news.

What this estimate hides is the potential dilution risk for shareholders if a partnership is not secured before the cash runway ends in Q2 2026, forcing another equity raise. You need to watch the partnership announcements closely.

Chemomab Therapeutics Ltd. (CMMB) Market Position & Future Outlook

Chemomab Therapeutics Ltd. is an emerging, clinical-stage biotechnology company whose future hinges on the successful Phase 3 development and commercial partnership of its lead candidate, nebokitug (CM-101), for Primary Sclerosing Cholangitis (PSC). The company has $0 in forecast revenue for the 2025 fiscal year, so its entire valuation is tied to its pipeline and the potential to be the first FDA-approved therapy for PSC. This is a high-risk, high-reward proposition.

Competitive Landscape

In the rare disease space, especially for Primary Sclerosing Cholangitis (PSC), the competitive landscape is defined by pipeline strength, not current market share, since no disease-modifying therapies are yet approved. Chemomab's market share in approved PSC drugs is technically 0%, as is every other company's. The real competition is who gets to market first with a compelling Phase 3 data package. Their core advantage is a unique mechanism of action (MoA) targeting the soluble protein CCL24, which addresses the three core aspects of PSC: fibrosis, inflammation, and cholestasis.

Opportunities & Challenges

The company's strategic focus for late 2025 is securing a lucrative partnership to fund and execute the pivotal Phase 3 program for nebokitug, which is critical given their cash position. They are also advancing the drug for other fibro-inflammatory diseases like systemic sclerosis (SSc) to diversify their pipeline value.

Industry Position

Chemomab Therapeutics Ltd. is a small-cap biotech with a market capitalization of approximately $29.94 million as of November 2025, placing it firmly in the clinical-stage, high-growth-potential category. It operates in the broader Primary Sclerosing Cholangitis (PSC) market, which was valued at $194.3 million in 2024 and is projected to grow to $207.6 million in 2025.

• Dominant Position: Nebokitug is one of the few PSC candidates with a clear, streamlined Phase 3 path agreed upon with the FDA, based on positive Phase 2 data showing broad impact on key disease biomarkers.
• Analyst Sentiment: The average analyst price target is $26.50, representing a massive potential upside from the current share price, reflecting the market's belief in the Phase 3 potential.
• Financial Health: The net loss for Q2 2025 was $2.1 million, with R&D expenses cut to $1.3 million as the Phase 2 trial wound down. The limited cash runway means a partnership or financing event is defintely necessary soon.
• Strategic Focus: The company's immediate goal is to finalize a partnership to accelerate the Phase 3 launch and maximize the commercial potential of nebokitug as a potential first-in-class therapy. You can read more about their core focus here: Mission Statement, Vision, & Core Values of Chemomab Therapeutics Ltd. (CMMB).

The company's fate rests on its ability to convert promising Phase 2 data and regulatory clarity into a funded, successful Phase 3 program. That's the one thing that matters right now.