Spago Nanomedical (SPAGO) investor relations material

Executive summary

• Net sales for Q2 2026 were KSEK 0, down from KSEK 81 in Q2 2025; net loss for the quarter was KSEK -7,331 compared to KSEK -6,964 year-over-year.

• Cash and cash equivalents at quarter-end were KSEK 32,508, up from KSEK 18,517 a year earlier.

• The Tumorad-01 study met a primary endpoint (maximum tolerated dose), with further patient enrollment recommended to define the phase II dose.

• A rights issue was completed, raising approximately SEK 15 million before costs to fund clinical development.

Financial highlights

• Operating expenses for Q2 2026 were KSEK -8,418, slightly higher than KSEK -8,291 in Q2 2025.

• Earnings per share for Q2 2026 were SEK -0.01, improved from SEK -0.02 in Q2 2025.

• For H1 2026, net sales were KSEK 22 (KSEK 419 in H1 2025), and the net loss was KSEK -14,128 (KSEK -14,399 in H1 2025).

• Cash flow from operating activities for H1 2026 was KSEK -11,544, an improvement from KSEK -14,733 in H1 2025.

• Equity at quarter-end was KSEK 31,669, with an equity ratio of 84.1%.

Outlook and guidance

• Focus remains on completing phase I of Tumorad-01 and establishing a recommended phase II dose.

• Strategic direction is set toward head and neck cancer, particularly adenoid cystic carcinoma, leveraging orphan drug advantages.

• Continued financing for phase IIa is a priority, with ongoing evaluation of partnerships and capital solutions.