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Malin (MLC) investor relations material
Malin H1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Intrinsic equity value per share was €9.36 at 30 June 2026, up from €9.21 at 31 December 2025, but fell to €8.28 by 24 August 2026 due to a reduction in Kymab's fair value and lower cash balance.
Cash position was €11.6 million at 30 June 2026, decreasing to €11.2 million by 24 August 2026, reflecting normal operating expenses.
Investee interests are now concentrated in a few areas, with direct involvement reduced following recent divestments and capital returns.
Financial highlights
Intrinsic equity value increased to €40.7 million at 30 June 2026 from €39.9 million at 31 December 2025, mainly due to FX movements and discount rate unwinding.
Corporate cash operating expenses for H1 2026 were €0.8 million.
Intrinsic equity value per share dropped 12% to €8.28 by 24 August 2026, driven by Kymab's fair value reduction and lower cash.
Outlook and guidance
Monitoring of Poseida CVR milestones continues, with potential for further contingent payments.
Kymab contingent consideration reduced to nil after Sanofi discontinued amlitelimab development in July 2026.
Viamet's value could be materially impacted by an FDA review expected in H2 2026.
- Portfolio of innovative life sciences assets targets near-term value creation and shareholder returns.MLC
Investor presentation - Intrinsic equity value per share increased to €9.24, with major leadership changes and capital return.MLC
H2 2025 - Intrinsic equity value was €41.3M on 30 June 2025, with €13.7M in cash.MLC
H1 2025 - Cash surges to €62.9m post-CG Oncology sale; €45m capital return planned for shareholders.MLC
H1 2024 - Major divestments drove a €150m capital return and record cash reserves for Malin in 2024.MLC
H2 2024
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