Lytix Biopharma (LYTIX) investor relations material

Executive summary

• Advancing toward commercialization with a robust clinical pipeline, including Ruxotemitide (LTX-315) moving toward Phase III in basal cell carcinoma and ongoing Phase II in melanoma, supported by a partnership with Verrica Pharmaceuticals.

• Completed patient treatment in late-stage melanoma trial (ATLAS-IT-05), showing 40% disease control in a challenging population.

• Significant reduction in Q2 2025 net loss, driven by a NOK 10.2 million accrual reversal related to ATLAS-IT-05.

• Cash and short-term investments of NOK 100–100.3 million as of June 30, 2025, provide operational runway into 2026.

• Strengthened board and management to support late-stage execution and commercialization.

Financial highlights

• Q2 2025 net loss substantially reduced due to a NOK 10.2 million one-off accrual reversal and lower R&D activity.

• Cash and short-term investments at period end totaled NOK 100–100.3 million.

• Total liabilities decreased from NOK 38.6 million at year-end 2024 to NOK 20–20.1 million at June 2025.

• Loss from operations for H1 2025 was NOK 18.6 million, improved from NOK 40.2 million in H1 2024.

• Equity ratio improved to 81.7% as of June 30, 2025.

Outlook and guidance

• Interim data from the NeoLIPA melanoma study expected in November 2025; top-line results in H1 2026.

• Preparations for pivotal Phase III BCC trial ongoing, with milestone payment expected upon study start, likely in H1 2026.

• LTX-401 preclinical program advancing toward clinical development.

• Additional genomic and immune response data from Verrica’s Phase II BCC study to be presented later in 2025.

• Continued focus on cost control and flexibility for key catalysts in H2 2025.