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PureTech Health (PRTC) investor relations material

PureTech Health H1 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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H1 2025 earnings summary28 Aug, 2025

Executive summary

  • Entered 2025 with strong clinical and financial momentum, advancing late-stage programs and launching new entities including Seaport Therapeutics, Gallup Oncology, Silea (Celea) Therapeutics, and progressing key assets.

  • Maintained a hub-and-spoke model for early-stage asset development, efficient capital allocation, and risk mitigation.

  • Strong financial position with $319.6M in cash as of June 30, 2025, providing operational runway into 2028.

  • Management changes included interim CEO and chair appointments, with plans to add UK capital markets expertise to the board.

  • Significant value expected from royalties and milestones, including Cabenci and Cobenfy (KarXT), with modeled value around $300M over time.

Financial highlights

  • Ended H1 2025 with just under $320M in cash, cash equivalents, and short-term investments, down from $366M at FY 2024.

  • Total revenue for H1 2025 was $1.9M, up 542% year-over-year, driven by royalty revenue; grant revenue decreased.

  • Operating expenses for H1 2025 were just under $50M, down from $66.7M in H1 2024, reflecting spinouts, cost discipline, and workforce reductions.

  • R&D and G&A expenses expected to decrease further as Gallup and Silea (Celea) spin out.

  • Net loss attributable to owners was $44.6M, compared to $41.8M in H1 2024.

Outlook and guidance

  • Focused on securing external funding for Gallup and Silea (Celea), which will further extend cash runway and reduce direct R&D spend.

  • Phase III trial for Silea/Celea's lead program (deupirfenidone) in IPF expected to initiate in 2026, pending FDA alignment.

  • Key data readouts for Gallup Oncology's LYT200 expected in 2025 and 2026.

  • Vedanta’s VE303 Phase 3 topline data expected in 2026; Seaport’s Phase 2b BUOY-1 study ongoing.

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Frequently asked questions

PureTech Health is an American clinical-stage biotherapeutics company that works with the discovery, development, and commercialization of medicines. PureTech’s pipeline includes proprietary product candidates in Phase 2 and Phase 3 clinical development that address significant unmet needs in oncology, central nervous system disorders, inflammatory disease, and gastrointestinal diseases. PureTech has a portfolio of proprietary, investigational medicines that are being developed with leading academic institutions as well as under strategic partnerships with other pharmaceutical companies.

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