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Enorama Pharma (ERMA) investor relations material
Enorama Pharma Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary19 Nov, 2025
Executive summary
Transitioned from turnaround to growth, focusing on PMTA process for permanent FDA approval in the US and scaling sales of NIC-S®.
Leadership changes included new interim and permanent CFOs, a new Commercial Director, and a new interim CEO after the period's end.
Distribution agreement with Pouch Pro LLP established for US market; previous agreement with Premier Manufacturing ended.
Negative net sales in Q3 due to adjustments for prior sample volumes and delayed revenue recognition from new distributor.
Financial highlights
Q3 2025 net sales: -193 KSEK (7,481 KSEK Q3 2024); 9M 2025 net sales: 989 KSEK (13,127 KSEK 9M 2024), a 92% decrease year-over-year.
Q3 2025 operating result: -12,339 KSEK (-4,476 KSEK Q3 2024); 9M 2025: -44,338 KSEK (-20,842 KSEK 9M 2024).
Q3 2025 pre-tax result: -13,346 KSEK (-7,127 KSEK Q3 2024); 9M 2025: -54,565 KSEK (-21,800 KSEK 9M 2024).
Q3 2025 EPS: -0.18 SEK (-0.12 SEK Q3 2024); 9M 2025 EPS: -0.73 SEK (-0.36 SEK 9M 2024).
Cash and cash equivalents at 30 Sep 2025: 6,563 KSEK (9,617 KSEK 2024).
Equity at 30 Sep 2025: -4,648 KSEK (33,716 KSEK 2024); equity ratio: -36.97% (81.16% 2024).
Outlook and guidance
PMTA process remains top priority, with all but two required studies underway; continued investment to secure FDA approval.
US market expansion expected as new distribution and logistics partnerships are established.
PMTA: Plan for the two remaining studies
Pouch Pro: When will 1.1 MSEK sales be booked
New board: What is the strategic direction
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Next Enorama Pharma earnings date
Q4 202518 Feb, 2026
Next Enorama Pharma earnings date
Q4 202518 Feb, 2026
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Frequently asked questions
Enorama Pharma AB is a pharmaceutical company headquartered in Malmö, Sweden. The company focuses on developing and manufacturing medicated chewing gum and other nicotine products. Its main products include nicotine chewing gums and pouches aimed at aiding smoking cessation. Enorama Pharma also explores other applications such as medical cannabis chewing gums and oromucosal drug delivery systems. The company operates with a commitment to providing innovative pharmaceutical solutions. Enorama Pharma is listed on the Stockholm Stock Exchange.
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