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4SC (VSC) investor relations material
4SC Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Ceased all development and commercialization of resminostat after a negative EMA opinion; terminated collaboration with Yakult Honsha for Japan.
No longer actively developing any drug programs; company has no operating business and reduced personnel.
Proposed capital cut to zero and simultaneous capital increase to €2.73M via new shares, with delisting from Frankfurt Stock Exchange.
Two major shareholders committed to subscribe to the full capital increase.
Financial highlights
Revenue for H1 2025 was €39K, down from €182K in H1 2024, mainly from reimbursements.
Net loss for H1 2025 was €3.30M, improved from €3.96M loss in H1 2024.
Staff costs rose 18% to €1.25M due to one-time severance payments.
Other operating expenses fell 35% to €1.79M due to cost-cutting after program closure.
Cash and cash equivalents at 30 June 2025 were €5.43M, down from €8.31M at year-end 2024.
Outlook and guidance
Capital increase intended to provide time for strategic realignment and avoid liquidation.
If liquidation occurs, only a small portion of subordinated shareholder loans may be repaid; no surplus for shareholders.
Cash is sufficient to cover costs for an orderly liquidation if completed by Q4 2026.
No plans to relist shares after delisting; ongoing costs from listing will be eliminated.
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