LTGO

EX-99.1

2 ltgo-ex99_1.htm

EX-99.1

EX-99.1

Exhibit 99.1

Latigo Biotherapeutics Reports Second Quarter 2026 Financial Results and Recent Business Highlights

Completed upsized initial public offering, including full exercise of the underwriters’ option to purchase additional shares, raising gross proceeds of $397.4 million; together with existing cash expected to fund operations into 2029

The New England Journal of Medicine published positive onzotrigine (previously referred to as LTG-001) abdominoplasty clinical trial results in moderate-to-severe acute pain

Expanded leadership team with appointment of Naomi Lowy, M.D., former deputy director of the FDA Division of Anesthesia, Addiction Medicine, and Pain Medicine, as senior vice president of global regulatory affairs

THOUSAND OAKS, Calif., Sept. 03, 2026 (GLOBE NEWSWIRE) — Latigo Biotherapeutics, Inc. (Nasdaq: LTGO), a clinical-stage biopharmaceutical company committed to developing innovative non-opioid pain medicines, today reported financial results for the second quarter ended June 30, 2026, and highlighted recent progress.

“This has been a significant period for Latigo as we completed our upsized initial public offering, published positive onzotrigine abdominoplasty results in moderate-to-severe acute pain in The New England Journal of Medicine, and continued to advance our pipeline of innovative pain programs,” said Nima Farzan, chief executive officer of Latigo. “With a strong balance sheet, a highly experienced team, and a portfolio of differentiated programs, we are focused on executing our development plans, including the initiation of the Phase 3 program for onzotrigine and the advancement of onzotrigine and LTG-321 toward key future milestones. We also strengthened our leadership team with the appointment of Naomi Lowy, M.D., whose extensive regulatory and drug development experience will be an important asset as we continue to build a differentiated innovative non-opioid pain company.”

Recent Pipeline Progress

Onzotrigine: Investigational Oral NaV1.8 Inhibitor for Acute Pain

• The New England Journal of Medicine (NEJM) published positive clinical trial results for onzotrigine in moderate-to-severe pain following abdominoplasty. The study met its primary endpoint of the Summed Pain Intensity Difference over 48 hours versus placebo with high statistical significance and demonstrated rapid, clinically meaningful pain relief, favorable tolerability, and opioid-sparing potential. This marks only the second original research publication in NEJM reporting clinical results for a novel drug for acute pain in the last 15 years.

• Plan to initiate a randomized, double-blind, placebo-controlled Phase 3 clinical trial in patients with moderate-to-severe acute pain after bunionectomy surgery as well as a single-arm, open-label Phase 3 safety trial in the second half of 2026.

• Expect to report topline results from the Phase 3 bunionectomy and open-label safety clinical trials in the second half of 2027.

• Completed bioavailability studies for the onzotrigine intravenous (IV) formulation with preliminary data indicating approximately 100% oral bioavailability.

LTG-321: Investigational Oral NaV1.8 Inhibitor for Chronic Pain

• Initiated a randomized, double-blind, placebo-controlled, within-patient crossover Phase 2 clinical trial of LTG-321 in approximately 120 patients with osteoarthritis of the knee, evaluating the safety and efficacy of once-daily LTG-321.

• The trial is being conducted at multiple sites in Denmark with enrollment underway.

• Expect to report topline results from the Phase 2 clinical trial in the second half of 2027.

LTG-418 and Other Pipeline

• Completed 14-day non-GLP toxicology studies with suitable tolerability demonstrated in both rats and non-human primates for LTG-418, a next-generation, structurally distinct Nav1.8 inhibitor being developed for the potential treatment of acute and chronic pain. LTG-418 is designed to be administered at a low dose, which may enable additional formulations and routes of administration beyond oral and IV delivery.

• Continued discovery of additional ion channel modulators involved in peripheral transmission of pain that represent potential complementary mechanisms of action to Nav1.8 inhibition for additional pain relief, including neuropathic pain.

Recent Corporate Highlights

• Completed an upsized initial public offering (IPO) in August 2026, including the full exercise by the underwriters of their option to purchase additional shares, raising gross proceeds of $397.4 million, before deducting underwriting discounts and commissions and other offering expenses.

• Further strengthened leadership team to support the next phase of growth with the appointment of Naomi Lowy, M.D., as senior vice president of global regulatory affairs. Dr. Lowy brings extensive regulatory and drug development expertise, including an 18-year career at the U.S. Food and Drug Administration (FDA) where,