ExpreS2ion Biotech (EXPRS2) investor relations material

Executive summary

• Achieved significant clinical progress in Q2 2026, with ES2B-C001, a first-in-class HER2-targeted immunotherapy, showing strong immunogenicity and anti-HER2 antibody responses in 12 of 13 evaluable patients and no safety concerns across all dose cohorts.

• Published patent applications in Hong Kong and the U.S. to strengthen the glyco-engineering platform.

• Completed a rights issue in Q2 2026, raising SEK 32.4 million before transaction costs, bolstering cash reserves for ongoing clinical and operational milestones.

• Maintained strategic exposure to VLP technology through 34% ownership of AdaptVac.

• Partnered infectious disease programs (malaria, Nipah, influenza) advanced through grants and collaborations, minimizing direct capital burden.

Financial highlights

• Operating income reached SEK 11.5 million, up 238% year-on-year, mainly from grant income.

• CRO net sales were SEK 2 million, up 31% year-on-year.

• Operating loss was SEK 12 million, a 2% increase year-on-year; net loss improved by 3% to SEK 9.7 million.

• R&D spend rose 483% year-on-year to SEK 11.4 million, largely offset by grant funding.

• Cash position at quarter-end was SEK 34.4 million, supported by the rights issue.

Outlook and guidance

• Phase I readout for ES2B-C001 remains on track for end of 2026, with phase II initiation expected in the second half of 2027.

• Focus remains on data maturation, translational analyses, and business development for partnering opportunities.

• Additional licensing and collaboration opportunities expected, subject to clinical and regulatory progress.

• VICI-Disease CMC grant activity and related R&D expenses expected to decrease materially going forward.

• Ongoing evaluation of financing options, partnerships, and non-dilutive funding sources to support development priorities.