Gabather (GABA) investor relations material

Executive summary

• Initiated the first patient study (TOTEMS) with lead candidate GT-002 for schizophrenia spectrum, marking transition from preclinical to clinical phase; study is externally funded and underway at CNSR, Copenhagen.

• Filed a new patent for a non-sedative sleep treatment, expanding the platform into a market estimated at over $10 billion globally.

• Maintained focus on cost discipline and evaluating multiple financing options to secure resources for upcoming milestones.

Financial highlights

• Net sales were 0 TSEK for both Q2 and H1 2026, unchanged year-over-year.

• Operating loss for Q2 was -1,039 TSEK (improved from -1,342 TSEK YoY); H1 operating loss was -2,379 TSEK (worsened from -1,645 TSEK YoY).

• Net result per share was -0.00 SEK for both Q2 and H1 (vs. -0.01 SEK YoY).

• Cash flow for H1 was 542 TSEK (down from 2,126 TSEK YoY); cash and cash equivalents at period end were 3,685 TSEK (up from 3,143 TSEK at year-end 2025).

• Equity at period end was 1,463 TSEK (up from 662 TSEK at year-end 2025); equity ratio improved to 32.22% (from 12.36% at year-end 2025).

Outlook and guidance

• Focus for the remainder of 2026 is on supporting patient recruitment in TOTEMS, scientific publication of EEG/fMRI data, and advancing partnership discussions.

• Ongoing evaluation of structured, non-dilutive, and partnership-based financing to secure funding for next value-creating milestones.