Lycia Therapeutics (LYTH) investor relations material

Company overview and business model

• Clinical-stage biotech developing LYTAC degraders to eliminate disease-causing extracellular proteins, initially for autoimmune, inflammatory and allergic diseases.

• Modular platform uses target binders and internalizing-receptor binders to route extracellular proteins to lysosomes; cataLYTACs recycle to degrade multiple target molecules.

• Pipeline: Phase 1 LCA-0061 for IgE-mediated allergy and LCA-0321 for Graves’ disease; LCA-0062 is in IND-enabling work, with additional immune-disease programs preclinical.

• Strategy prioritizes early Phase 1 proof-of-concept biomarkers, expands the IgE portfolio to other allergic diseases, advances new targets and selectively explores collaborations.

Financial performance and metrics

• Collaboration revenue was $14.9M in FY24 and $6.7M in FY25; it was $2.3M in H1 2025 and zero in H1 2026 after Lilly-related obligations were completed.

• Net loss was $26.5M in FY24, $36.5M in FY25, and $19.2M in H1 2026; accumulated deficit was $136.8M at June 30, 2026.

• Cash, cash equivalents and marketable securities were $148.1M at June 30, 2026; preliminary, unaudited September 30, 2026 estimate was $138.2M.

• Management estimates IPO proceeds plus existing liquidity fund operations into H2 2029; substantial additional capital is expected to complete development and potential commercialization.

Use of proceeds and capital allocation

• Estimated net proceeds are $227.8M, or $262.7M with full exercise of the underwriters’ option, based on $17/share.

• Intended allocations: ~$80M for LCA-0061 through planned Phase 2, ~$70M for LCA-0062 through planned Phase 2 and ~$90M for LCA-0321 through planned Phase 2.

• Remaining proceeds are intended for pipeline research, other R&D, working capital and general corporate purposes; management retains broad discretion over deployment.

• Pending deployment, proceeds are intended for short-term, investment-grade interest-bearing securities; proceeds and existing liquidity will not fund candidates through regulatory approval.