AB SCIENCE (AB) H2 2025 earnings summary

Executive summary

• Operating loss as of 31 December 2025 was €3.8 million, down 38% year-over-year, excluding non-recurring items.

• Cash position at year-end was €10.2 million, with an additional €3.2 million raised in April 2026.

• Focused clinical resources on Phase 3 of masitinib in ALS and Phase 1 of AB8939 in AML.

• Final agreement reached on renegotiation of loan repayment terms with all financial creditors.

Financial highlights

• Revenue from veterinary medicine increased 10% year-over-year to €1.17 million.

• Operating expenses fell by 93% due to a non-recurring cancellation of a repayable advance and cost controls.

• Net loss for 2025 was €1.56 million, an 80% reduction from 2024.

• Net earnings per share improved to (€0.03) from (€0.15) year-over-year.

Outlook and guidance

• Strategic focus on Phase 3 masitinib in ALS and Phase 1 AB8939 in AML, deprioritizing other indications.

• Temporary suspension of European clinical trials to address regulatory and organizational requirements.