Abera Bioscience (ABERA) Q2 2024 earnings summary

Executive summary

• Q2 2024 marked by establishment of a new independent lab in Uppsala, consolidating operations and enabling future growth; team relocated from Amsterdam to Sweden.

• Initiated development of a nasal influenza vaccine using proprietary platform, supported by UK Vaccine Network funding.

• Focus remains on advancing universal pneumococcal vaccine (Ab-01.12) and expanding pipeline for pandemic preparedness and mucosal immunization.

Financial highlights

• Q2 2024 revenue was 4,506 KSEK, up from 44 KSEK in Q2 2023, mainly from UK Vaccine Network grants and currency gains.

• Operating expenses for Q2 2024 were -5,170 KSEK, down from -5,786 KSEK in Q2 2023, despite one-time costs for lab relocation.

• Net result for Q2 2024 was -665 KSEK, a significant improvement from -5,742 KSEK in Q2 2023.

• Cash and bank at June 30, 2024, stood at 2,628 KSEK, compared to 5,198 KSEK a year earlier.

• Equity at period end was 8,802 KSEK, up from 6,669 KSEK at June 30, 2023.

Outlook and guidance

• Activities for GMP manufacturing and Phase 1 clinical trial of Ab-01.12 will not commence until full financing is secured.

• Ongoing UK Vaccine Network funding ensures liquidity for planned milestones through 2024.

• Company is actively seeking additional funding, prioritizing shareholder-friendly options.