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Enorama Pharma
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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Latest events from Enorama Pharma
- Sharp revenue decline and deepening losses in H1 2025 amid US transition and PMTA focus.ERMA
Q2 202520 Aug 2025 - Net sales rose sharply and losses narrowed as US pouch sales accelerated.ERMAQ3 202413 Jun 2025
- US pouch sales drove revenue growth and improved liquidity, with narrowed losses.ERMAQ2 202413 Jun 2025
- Losses deepened as Enorama Pharma restructures for US white snus growth and seeks new funding.ERMAQ1 20256 Jun 2025
- Revenue growth reversed in Q4 as US sales fell and NRT assets were fully written down.ERMAQ4 20245 Jun 2025
Next Enorama Pharma earnings date
Q4 202518 Mar, 2026
Enorama Pharma
Next Enorama Pharma earnings date
Q4 202518 Mar, 2026
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