4SC (VSC) Q1 2025 earnings summary

Executive summary

• Focused on advancing resminostat (Kinselby) for advanced-stage CTCL, with EU approval as a key milestone.

• MAA for resminostat filed with EMA; major objections received in March 2025, with further feedback pending.

• No significant corporate events occurred in Q1 2025.

• Cash position at €6.8 million as of 31 March 2025, sufficient for current projections into Q2 2026.

• Licensing and partnering activities ongoing for non-core assets.

Financial highlights

• Cash balance declined to €6.8 million from €8.3 million at year-end 2024.

• Average monthly cash use from operations was €493 thousand in Q1 2025, down from €742 thousand in Q1 2024.

• Cash usage within the forecasted range of €400–700 thousand per month.

Outlook and guidance

• Awaiting further EMA feedback on resminostat MAA, expected in April 2025.

• Filings in UK and Switzerland contingent on positive EMA opinion.

• Sufficient cash runway projected into Q2 2026, subject to planning assumptions.