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EXACT Therapeutics (EXTX) investor relations material
EXACT Therapeutics H1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.H1 2025 earnings summary25 Sep, 2025
Executive summary
Achieved key milestones in clinical development, including first patient dosed in the ENACT Phase 2 trial for pancreatic cancer and final results from the ACTIVATE Phase 1 trial showing significant tumor shrinkage and safety profile.
Secured NOK 145 million in financing and strengthened strategic collaboration with GE Healthcare, now the largest shareholder.
Expanded intellectual property portfolio with new patents granted in the US, Japan, and UK, extending protection to at least 2040.
Financial highlights
Operating loss for H1 2025 was NOK -45.9 million, compared to NOK -29.7 million in H1 2024.
Net loss for H1 2025 was NOK -49.2 million, up from NOK -29.3 million in H1 2024.
Cash and cash equivalents at June 30, 2025, were NOK 58.5 million, down from NOK 99.5 million at year-end 2024.
Shareholders’ equity at June 30, 2025, was NOK 67.7 million, with an equity ratio of 67%.
Negative cash flow from operations in H1 2025 was NOK -33.6 million, mainly due to clinical and preclinical activities.
Outlook and guidance
Focus remains on advancing the ENACT Phase 2 trial, with initial safety read-out expected in 2025 and interim efficacy assessment in H1 2026.
Patient recruitment is underway in the US and UK, with site initiations being finalized.
Continued progress in preclinical collaborations, especially in immuno-oncology and brain tumors.
Exercise of warrants from the December 2024 capital raise is contingent on positive safety read-out.
What triggers the exercise of warrants?
What is the current monthly cash burn rate?
What is the next step for glioblastoma program?
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Next EXACT Therapeutics earnings date
H2 20259 Apr, 2026
Next EXACT Therapeutics earnings date
H2 20259 Apr, 2026
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Frequently asked questions
EXACT Therapeutics AS is a clinical-stage biopharmaceutical company headquartered in Oslo, Norway. The company is pioneering a novel ultrasound-mediated technology platform called Acoustic Cluster Therapy (ACT). This approach aims to significantly enhance the clinical utility of a wide range of therapeutic agents for a variety of applications, including oncology (both chemotherapy and immunotherapy), neurological conditions, and gene therapy. The company is headquartered in Oslo, Norway, and its shares are listed on the Oslo Stock Exchange.
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