Active Biotech (ACTI) Q2 2026 earnings summary

Executive summary

• Advanced clinical development of tasquinimod in myelofibrosis, with resumed patient enrollment in Europe and expanded US collaborations.

• Laquinimod program strengthened by LION study results and ongoing strategic partnering discussions for ophthalmology indications.

• Naptumomab, partnered with NeoTX, continues in phase Ib/II trials for solid tumors, showing promising safety and efficacy signals.

Financial highlights

• No net sales recorded for Q2 or H1 2026.

• Operating loss for Q2 2026 was SEK -10.2M (Q2 2025: -11.3M); H1 2026 operating loss was SEK -18.8M (H1 2025: -22.5M).

• Loss after tax for Q2 2026 was SEK -10.1M (Q2 2025: -11.2M); H1 2026 loss after tax was SEK -18.4M (H1 2025: -22.2M).

• Cash and cash equivalents at June 30, 2026, were SEK 43.9M (Dec 31, 2025: SEK 65.1M).

• Research and development expenses decreased 20% year-over-year for H1 2026, reflecting lower costs as the LION study concluded.

Outlook and guidance

• Focus remains on advancing tasquinimod clinical studies in myelofibrosis and securing a partner for laquinimod.

• Available liquidity expected to fund operations through 2026 and into Q4 2027.

• Ongoing evaluation of alternative financing sources, including partnerships.

• First interim analyses for tasquinimod studies anticipated in Q1 2027.