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Mendus (IMMU) investor relations material
Mendus Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2025 earnings summary21 Aug, 2025
Executive summary
Advanced phase 2 trial in AML showed broad immune stimulation and efficacy across mutation subtypes, including NPM1, differentiating the therapy from targeted treatments.
Key clinical progress with lead product vididencel in AML and ovarian cancer, including positive Phase 2 and Phase 1 data.
Manufacturing alliance with Northex Biologics is progressing, supporting late-stage clinical development and commercialization.
Strengthened leadership with the appointment of Dr. Tariq Mughal as Chief Medical Officer.
Secured a US patent for vididencel in ovarian cancer, supporting future commercialization.
Financial highlights
Q2 cash burn was SEK 26.9 million; H1 cash burn was SEK 42.9 million, lower than last year due to reduced tech transfer activity.
Cash and cash equivalents at June 30, 2025, were SEK 58.9 million.
Net loss for Q2 2025 was KSEK -22,686, an improvement from KSEK -38,240 in Q2 2024.
Equity ratio remained strong at 93% at the end of Q2 2025.
R&D expenses for Q2 2025 were KSEK -15,524, representing 61% of operating expenses.
Outlook and guidance
Pivotal-stage readiness for vididencel in AML expected in H2 2025, with ongoing regulatory interactions.
First GMP batches from Northex expected before year-end, supporting registration trial readiness.
Next read-out of the ALISON trial in ovarian cancer anticipated in Q4 2025.
Ongoing efforts to secure additional financing to fund operations beyond early 2026.
Strategy update planned for early fall.
Why caution on ALISON trial despite positive signs?
How does pharma partnership impact registration trial?
What is vididencel's specific opportunity in CML?
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Q3 202513 Nov, 2025
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Frequently asked questions
Mendus is a biotechnology company developing immunotherapies for the treatment of cancer. The company focuses on therapies that activate the body’s immune system to target and eliminate cancer cells, based on proprietary technologies. Its operations span clinical development and research. The company is headquartered in Stockholm, Sweden, and its shares are listed on the STO.
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