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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Heidelberg Pharma
Heidelberg Pharma (HPHA) investor relations material
Heidelberg Pharma Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary15 Oct, 2026
Executive summary
9M 2026 clinical progress included selection of HDP-101’s 175 µg/kg RP2D, China trial approval for combination therapy, and a new ADC R&D collaboration with Huadong Medicine.
Sales revenue and other income rose 79.4% YoY to €11.5m; operating expenses fell 29.4% to €19.9m and net loss narrowed to €8.7m.
Cost-reduction measures delivered total cost savings of ~30%; full-year 2026 financial guidance was confirmed.
Financial highlights
9M 2026 income was €11.5m vs €6.4m YoY; sales revenue rose to €9.3m from €1.4m, mainly due to partner milestone payments.
Other income was €2.2m vs €5.0m; prior-year income included €3.4m of unrealized FX gains.
Operating expenses declined to €19.9m from €28.2m; R&D costs fell to €13.3m from €21.0m as spending focused on the lead clinical program.
Operating result was a loss of €8.4m vs €21.8m; net loss was €8.7m vs €21.1m, and basic EPS was -€0.19 vs -€0.45.
Cash was €19.8m at 31 August 2026 vs €15.0m at 30 November 2025; average cash outflow excluding financing effects was €1.3m/month vs €2.8m/month YoY.
Outlook and guidance
FY 2026 guidance confirmed: sales revenue and other income of €11m–€15m and operating expenses of €25m–€29m.
FY 2026 change in cash funds from business operations expected at €0m to -€4m, with year-end cash of €11m–€15m; 2025 cash was €15m.
Current internal planning indicates financing is secured at least until mid-2027; expenses are expected to exceed income over the next few years.
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Latest events from Heidelberg Pharma
- Clinical pipeline advanced as HCRx financing strengthened the runway into 2027.HPHA
Q1 2025 - HDP-101’s preliminary responses underpin a narrowed development focus amid mid-2026 runway.HPHAInvestor presentation
- Revenue up 428% and net loss reduced as cash reach extends to mid-2027 after new financing.HPHAQ2 2026
- Milestone payments, improved loss, and new funding extend cash runway to mid-2027.HPHAQ1 2026
- Refocus on HDP-101 and new financing extend cash runway to 2027 amid clinical progress.HPHAQ4 2025
- HDP-101 shows strong efficacy and safety in myeloma, with new data to be presented at ADC Congress.HPHAStatus Update
- Strategic focus shifts to HDP-101 with deep cost cuts and cash runway to mid-2026.HPHAInvestor Update
- Amanitin-based ADC HDP-101 delivers durable responses and mild toxicity in advanced myeloma.HPHAStatus Update
- Clinical and financial advances, plus royalty deals, secure funding through 2027.HPHAQ4 2024
Next Heidelberg Pharma earnings date
Q4 202624 Mar, 2027
Heidelberg Pharma
Next Heidelberg Pharma earnings date
Q4 202624 Mar, 2027
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