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Nykode Therapeutics
Nykode Therapeutics (NYKD) investor relations material
Nykode Therapeutics Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary25 Feb, 2026
Executive summary
Focused strategy on three core assets: abisuvva (HPV-16 immunotherapy), VB10.NEO (individualized neoantigen therapy), and Tolerance/ASIT (antigen-specific immune tolerance platform), with advanced clinical programs in HPV16+ cancers and strong efficacy in head and neck and cervical cancer trials.
Abisuvva progressing with Abili-T trial in first-line recurrent metastatic head and neck cancer; interim results expected in 2027, with first patient dosing in the UK in H1 2026.
VB10.NEO leverages proprietary NeoSELECT algorithm; new U.S. patents granted and clinical data presented, confirming strong immune responses and competitive positioning.
Tolerance/ASIT platform shows preclinical efficacy and durability, with unique ability to reduce autoantibodies and pathogenic T cells, and expansion into new autoimmune indications.
Net loss of $8.0 million in Q4 2025, compared to $6.8 million in Q4 2024, with full-year net loss at $12.2 million, a significant improvement from $38.8 million loss in 2024.
Financial highlights
Q4 2025 revenue from contracts with customers was $0.0 million, down from $6.8–6.9 million in Q4 2024, mainly due to the termination of the Genentech agreement.
Operating expenses reduced to $8.1 million in Q4 2025 from $12.9 million year-over-year, reflecting organizational streamlining and reduced clinical activity.
Cash and cash equivalents at year-end 2025 were $60.3 million, with an equity ratio of 92%.
Dividend of $32.3 million paid in Q2 2025.
Positive net financial income of $10.9 million in 2025, mainly due to currency gains.
Outlook and guidance
Cash runway extends into 2028, with potential extension to 2029 pending outcome of a $32.2 million tax case.
First patient dosing in Abili-T trial expected in H1 2026 in the UK; interim data expected in 2027.
Anticipated peer readouts in individualized neoantigen therapy and cell therapy fields over the next 15 months.
No guidance on partner revenue for 2026; potential partnerships considered upside.
Abi-suva 38.5% ORR: How does it differentiate
Cash runway extension: What are the key dependencies
ASIT platform: What is the partnership strategy
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Next Nykode Therapeutics earnings date
Q1 202627 May, 2026
Nykode Therapeutics
Next Nykode Therapeutics earnings date
Q1 202627 May, 2026
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Frequently asked questions
Nykode Therapeutics AS is a clinical-stage biopharmaceutical company based in Oslo, Norway. The company focuses on the discovery and development of novel vaccines and immunotherapies, primarily targeting cancer and infectious diseases. Nykode leverages its proprietary modular vaccine technology, which directs antigens to antigen-presenting cells, aiming to induce strong and long-lasting immune responses. Its leading product candidates include VB10.16, a therapeutic vaccine in development for human papillomavirus (HPV)-related cancers, and VB10.NEO, a cancer neoantigen vaccine, which is in clinical trials for several types of advanced tumors. The company is headquartered in Oslo, Norway, and its shares are listed on the Oslo Stock Exchange.
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