# Chemomab Therapeutics Ltd.

> Clarifo company profile — qualitative business description generated from
> the company's filings. Financial statements, charts and ratios are
> available on Clarifo (https://www.clarifo.com/en/companies/Chemomab Therapeutics Ltd.).

## Overview

Chemomab Therapeutics Ltd. is a clinical-stage biotechnology company focused on developing antibody-based therapies for fibro-inflammatory diseases. Its lead program, nebokitug, is designed to neutralize the soluble protein CCL24 and is being studied for primary sclerosing cholangitis and other immune-fibrotic conditions. The company is headquartered in Tel Aviv, Israel and is publicly listed on Nasdaq in the United States.

## Products & services

• Nebokitug, a first-in-class anti-CCL24 monoclonal antibody
• Clinical development for primary sclerosing cholangitis (PSC)
• Translational and preclinical programs in fibro-inflammatory diseases
• Partnering and licensing opportunities for nebokitug

- **Lead therapeutic program** (85%) — Nebokitug and related clinical development activities targeting CCL24-driven fibrosis and inflammation.
- **Pipeline development** (10%) — Preclinical and translational work to expand nebokitug into additional fibro-inflammatory indications.
- **Partnering and licensing** (5%) — Out-licensing, collaboration, and strategic partnership opportunities around the nebokitug asset.

- Nebokitug, a first-in-class anti-CCL24 monoclonal antibody
- Clinical development for primary sclerosing cholangitis (PSC)
- Translational and preclinical programs in fibro-inflammatory diseases
- Partnering and licensing opportunities for nebokitug

## Customers

Chemomab does not sell commercial medicines to end patients; its economic counterparties are primarily pharmaceutical and biotechnology partners, regulators, investigators, and clinical trial sites. The company’s development programs are aimed at patients with severe fibro-inflammatory diseases, especially primary sclerosing cholangitis, where treatment options are limited and unmet need is high.

- **Strategic pharma partners** (primary) — Potential licensees or collaborators that may fund development or commercialize nebokitug in defined territories or indications.
- **Regulatory agencies** (primary) — FDA and other health authorities that review trial design, endpoints, and approval pathways for nebokitug.
- **Clinical trial ecosystem** (secondary) — Investigators, hospitals, and trial networks that enroll PSC and other fibro-inflammatory patients into studies.
- **Patients with rare fibro-inflammatory disease** (primary) — Patients with PSC and related conditions who are the intended beneficiaries of the company’s therapies.

- Pharma/biotech partners seeking rights to a differentiated asset
- Regulators evaluating clinical and approval pathways
- Clinical investigators and trial sites running studies
- Patients with PSC and other fibro-inflammatory diseases
- Specialist physicians treating rare immune-fibrotic conditions

## Geography

Chemomab is headquartered in Tel Aviv, Israel, while its equity is listed on Nasdaq in the United States. Its development work is global in nature because clinical trials, regulatory interactions, and partnering discussions can span the U.S., Israel, Europe, and other research markets.

- Headquartered in Tel Aviv, Israel
- Nasdaq-listed in the United States
- Clinical development is global and trial-driven
- Regulatory and partnering activity centers on the U.S. and Israel
- Future commercialization would likely depend on partner geography

## Strategy

Chemomab’s strategy centers on advancing nebokitug through late-stage clinical development in PSC and using translational data to support broader fibro-inflammatory indications. The company is also pursuing strategic partnering options, which can provide external validation and a path to broader development and commercialization.

- **Advance PSC clinical development** (short-term) — PSC is the lead indication and the clearest path to value creation for nebokitug.
- **Strengthen translational evidence** (short-term) — Biomarker and mechanistic data help support disease-modifying claims and partnering interest.
- **Secure strategic partnerships** (medium-term) — A partner can provide capital, development scale, and commercialization reach.
- **Broaden indication scope** (medium-term) — Additional fibro-inflammatory diseases could expand the asset’s commercial opportunity.

- Advance nebokitug into pivotal PSC development
- Use biomarker and translational data to support differentiation
- Expand into additional fibro-inflammatory indications
- Pursue strategic partnerships for development and commercialization
- Maintain a clear regulatory path with FDA alignment

## Risks

Chemomab’s business depends heavily on the clinical and regulatory success of a single lead asset, so trial outcomes and approval timing are major value drivers. As a development-stage biotech, it also faces financing, partnering, and execution risk, while broader industry risks include competition, safety concerns, and uncertainty around biomarker-to-clinical translation.

- **Clinical development failure** [critical] — Nebokitug is the lead asset, so negative efficacy or safety results would materially impair the company.
- **Regulatory uncertainty** [high] — Approval depends on FDA acceptance of endpoints, trial design, and evidence package.
- **Partnering execution risk** [medium] — The company is pursuing strategic options that may not close on favorable terms or timing.
- **Financing and dilution risk** [high] — Clinical-stage biotech companies typically require external capital before commercialization.
- **Competitive and scientific risk** [medium] — Other therapies or changing scientific views could reduce the perceived value of CCL24 targeting.

- Single-asset concentration creates high dependence on nebokitug
- Clinical trial failure could materially reduce program value
- Regulatory feedback may change endpoint or approval requirements
- Partnering risk if collaborations are delayed or not completed
- Biotech funding risk due to long development timelines

## Accounting

As a clinical-stage biotech, Chemomab’s reported results are driven mainly by research and development spending, stock-based compensation, and other operating expenses rather than product revenue. Investors should watch how the company capitalizes or expenses development-related items, how it accounts for equity awards, and whether any collaboration or financing arrangements introduce complex fair-value or derivative accounting.

- **Research and development expense** — Affects operating loss and period-to-period comparability
- **Stock-based compensation** — Affects reported operating expenses and dilution analysis
- **Clinical accrual estimates** — Can shift expenses between quarters
- **Collaboration and milestone accounting** — Could affect revenue recognition if deals are signed

- R&D expense recognition is central because there is no commercial product revenue
- Stock-based compensation can materially affect reported operating loss
- Clinical trial accruals and vendor estimates require judgment
- Any partnering deal may involve deferred revenue or milestone accounting
- Equity financing and warrants may create fair-value or derivative complexity

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*Last updated: 2026-07-18T04:43:17.873650+00:00*