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Mendus
Mendus (IMMU) investor relations material
Mendus Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary11 Feb, 2026
Executive summary
Positive long-term survival data from the ADVANCE II trial in MRD-positive AML presented at ASH, supporting broad post-remission positioning of vididencel in AML and CML, and expansion into ovarian cancer.
Updated clinical strategy aligns with evolving first-line AML treatments, including venetoclax and azacitidine combinations, and includes two new CML trials and a combination trial in AML with first patient enrollment expected in 2026.
Large-scale GMP manufacturing established with NorthX Biologics to support late-stage development and commercialization.
Corporate reorganization and staff reduction completed to offset increased clinical trial costs and balance costs ahead of anticipated 2026 trials.
ALISON trial in ovarian cancer confirmed safety and feasibility of vididencel as a combination therapy.
Financial highlights
Q4 net loss was SEK 41.1 million in 2025 (vs. SEK 38.7 million previously); full-year net loss was SEK 130.7 million in 2025.
Cash burn for Q4 was SEK 20.4 million; cash position at year-end was SEK 64.7 million.
SEK 52.5 million raised in a directed issue with insider support; SEK 50 million loan facility secured.
Cash runway extends into Q1 2027 with current financing and loan facility.
No revenue recognized; other operating income mainly from research collaborations and grants.
Capital allocation and financing
SEK 52.5 million raised via directed issue with insider support.
SEK 50 million loan facility secured with Fenja Capital; SEK 30 million tranche used in January.
Cash and cash equivalents at year-end: SEK 64.7 million.
Shareholders' equity at year-end: SEK 585.1 million.
DIVA trial's impact on AML registration strategy?
CML TFR strategy: How will it differentiate vididencel?
Future non-dilutive financing milestones?
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Next Mendus earnings date
Q1 20268 May, 2026
Mendus
Next Mendus earnings date
Q1 20268 May, 2026
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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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