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Novakand Pharma (NOVKAN) investor relations material

Novakand Pharma Q2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2025 earnings summary28 Aug, 2025

Executive summary

  • Positive top-line results reported from the KANDOVA phase Ib/IIa study in ovarian cancer, meeting both primary and secondary objectives.

  • Successful pre-IND meeting with the FDA for KAND567 in ST-elevation myocardial infarction, with positive regulatory feedback.

  • WHO granted International Non-proprietary Names (INN) for KAND567 (rugocrixan) and KAND145 (fosrugocrixan), marking a first for small molecule CX3CR1 antagonists.

  • Termination of the letter of intent with Recardio Inc. post-period due to challenging capital markets and inability to secure external financing.

  • Company name change to Novakand Pharma planned for September.

Financial highlights

  • Net sales were SEK 0 million for both the quarter and the first half, unchanged year-over-year.

  • R&D expenses decreased to SEK 4.8 million in Q2 (from SEK 9.7 million) and SEK 15.8 million for H1 (from SEK 21.2 million).

  • Operating loss for Q2 was SEK -6.3 million (improved from SEK -11.4 million); H1 operating loss was SEK -19.5 million (from SEK -24.7 million).

  • Net loss for Q2 was SEK -6.3 million (from SEK -10.9 million); H1 net loss was SEK -19.2 million (from SEK -23.9 million).

  • Cash flow from operations improved to SEK -9.8 million in Q2 (from SEK -14.4 million); H1 cash flow was SEK -18.8 million (from SEK -29.7 million).

  • Cash and cash equivalents at June 30, 2025, were SEK 27.6 million (down from SEK 75.7 million a year earlier).

  • Equity at June 30, 2025, was SEK 43.1 million (from SEK 83.0 million); equity/assets ratio was 92% (up from 87%).

Outlook and guidance

  • Current cash is expected to fund operations until Q1 2026; new activities require additional capital from licensing or investors.

  • Company is revisiting its business plan and exploring new out-licensing and business development opportunities.

  • FRACTIVE phase IIb study in acute myocardial infarction planned to start in 2026, pending capital injection.

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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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