Heidelberg Pharma (HPHA) investor relations material

Executive summary

• Achieved significant clinical milestones, including completion of Phase I dose escalation for pamlectabart tismanitin and initiation of Phase IIa trial in multiple myeloma; 16 patients currently enrolled at RP2D.

• Secured $20 million upfront from Soleus Capital via amended royalty agreement, extending cash reach to mid-2027.

• Received milestone payments from partners Takeda and Huadong for progress in ADC programs.

• Implemented restructuring and cost-cutting, reducing operating expenses and headcount.

• Appointed Peter Willinger as new CFO and reduced Supervisory Board size.

Financial highlights

• Sales revenue rose 428% year-over-year to €7.4 million, mainly from milestone payments and material sales.

• Total income increased 84% to €9.2 million; other income declined due to prior year one-off.

• Operating expenses fell 32% to €12.3 million, driven by lower R&D and administrative costs.

• Net loss narrowed to €3.4 million from €12.6 million year-over-year; EPS improved to €-0.07 from €-0.27.

• Cash at period end was €24.9 million, up from €15.0 million at prior year-end but down from €33.3 million year-over-year.

Outlook and guidance

• Full-year 2026 guidance confirmed: sales revenue and other income expected between €11.0–15.0 million; operating expenses €25.0–29.0 million.

• Cash balance at year-end projected at €11.0–15.0 million; financing secured until mid-2027.

• Focus remains on advancing pamlectabart tismanitin Phase IIa trial and expanding partnerships.