New York, June 2, 2026, 16:05 EDT
Aura Biosciences shares dropped roughly 4.2% to $6.89 late Tuesday, lagging a soft biotech sector. This came after Aura said on Monday that it hit a clinical-trial milestone. The SPDR S&P Biotech ETF slid about 4.2%. The iShares Nasdaq Biotechnology ETF lost around 2.9%.
Aura said Monday it finished enrolling 108 patients in CoMpass, its Phase 3 study of bel-sar for early choroidal melanoma. Phase 3 trials are key late-stage tests before a drug approval. The first main results, or “topline” data, are due in the second half of 2027. GlobeNewswire
Aura has now finished enrolling patients in its phase 3 trial for bel-sar in early choroidal melanoma. The story moves from the hunt for enough rare eye cancer cases to tracking the treatment’s effect through a 15-month main endpoint. Dr. Jill Hopkins, chief medical officer and president of R&D, called enrollment completion a “significant milestone” as Aura takes bel-sar closer to possible regulatory approval. GlobeNewswire
Choroidal melanoma is a type of uveal melanoma, which covers cancers in the iris, ciliary body, and choroid, the U.S. National Cancer Institute says. Investors looking for signals often turn to other uveal melanoma drug firms, even if their patient pools are not the same.
Aura in its May update stuck to its earlier message. Natalie Holles, who took over as CEO in late April, said the company was “entering a pivotal period.” Aura reported $114.7 million in cash, cash equivalents and marketable securities as of March 31. It then raised another $280.8 million in net proceeds from an equity sale and said it expects that cash to take it into the second half of 2028. Aura Biosciences
The trial is moving forward under a Special Protocol Assessment, an FDA agreement covering the study setup and analysis plan. Aura says bel-sar also has Fast Track status with the U.S. FDA, which can help speed talks with the agency, and orphan-drug status in the U.S. and Europe for early choroidal melanoma.
Peer trading moved in different directions. IDEAYA Biosciences dropped nearly 3.9%. Immunocore gained about 1.0%. IDEAYA’s darovasertib is still in development for uveal melanoma, while Immunocore’s Kimmtrak is already approved for cases that can’t be surgically removed or that have metastasized. The comparison doesn’t line up exactly—Aura is going after early choroidal melanoma, not the same patient group as Immunocore’s product.
But risks remain. Aura’s latest quarterly filing said it has no approved products yet, relies on bel-sar, and can’t guarantee approval or sales. The company flagged the chance that later study data could differ from earlier results, regulators might dispute the trial setup or the findings, and possible side effects might slow or stop trials.
Data is the next key factor, not enrollment. Aura has flagged 2026 updates from its bel-sar trials in choroidal metastases, ocular surface cancers and non-muscle invasive bladder cancer, setting up a string of minor catalysts for the stock ahead of the CoMpass readout expected next year.
