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Novakand Pharma (NOVKAN) investor relations material
Novakand Pharma Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary21 Nov, 2025
Executive summary
Letter of intent with Recardio Inc. was terminated due to inability to secure financing for a joint specialty pharma company.
Company name changed from Kancera AB to Novakand Pharma AB following AGM decision.
Board initiated a reverse takeover process after strategic review found capital raising for continued operations unfeasible.
CEO Peter Selin resigned; will assist through March 2026 if needed.
SEK 18 million write-down of intangible assets related to the fractalkine program.
Financial highlights
Net sales were SEK 0 million for both Q3 and the nine-month period (same as prior year).
Q3 R&D expenses: SEK 4.0 million (down from SEK 10.2 million year-over-year); nine-month R&D: SEK 19.8 million (down from SEK 31.5 million).
Q3 operating loss before impairment: SEK -5.1 million (improved from SEK -11.5 million); after impairment: SEK -23.1 million.
Loss after financial items for Q3: SEK -23.1 million (vs. SEK -11.1 million); nine-month loss: SEK -42.3 million (vs. SEK -34.9 million).
Cash flow from operating activities Q3: SEK -5.3 million (vs. SEK -17.8 million); cash and cash equivalents at period end: SEK 22.3 million (vs. SEK 57.9 million).
Outlook and guidance
Board aims to complete a reverse takeover by Q1 2026; if unsuccessful, may recommend de-listing and liquidation.
Cash is expected to finance operations for approximately 24 months, with further cost reductions planned.
Ongoing search for partners to divest the fractalkine program, though likelihood is assessed as low.
Assess the likelihood of a successful reverse takeover
What is the strategy for fractalkine divestment?
How will cost reductions impact cash runway?
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Next Novakand Pharma earnings date
Q4 202520 Feb, 2026
Next Novakand Pharma earnings date
Q4 202520 Feb, 2026
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Frequently asked questions
Kancera AB is a Swedish biotechnology company focusing on developing pharmaceuticals for the treatment of severe diseases, particularly cancer and inflammatory conditions. The company's efforts are primarily directed towards creating small molecule drug candidates that target disease-promoting immune and cancer cells, specifically utilizing the fractalkine axis. Kancera's work is divided into two main areas: Pharmaceutical Development and Industrial Research and Development (R&D). Solna, Stockholm, Sweden, and its shares are listed on the Stockholm Stock Exchange.
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