Active Biotech (ACTI) Q3 2026 earnings summary

Executive summary

• Tasquinimod advanced in myelofibrosis: the amended European study’s first three-patient safety cohort completed evaluation, while enrollment continues; a US MPN-RC study is planned for Q1 2027, subject to approvals.

• Laquinimod’s Japanese patent grant strengthened protection as partnering discussions continued; the ophthalmic program is phase II ready.

Financial highlights

• No sales in 9M 2026; operating loss was SEK 27.3M versus SEK 28.5M, and net loss was SEK 26.8M versus SEK 28.2M.

• Q3 operating loss was SEK 8.5M versus SEK 6.0M; net loss was SEK 8.3M versus SEK 6.0M, with R&D expense of SEK 5.7M versus SEK 3.3M.

• 9M operating expenses fell 4% YoY to SEK 27.3M; R&D expense declined 5% to SEK 18.3M, reflecting lower tasquinimod preclinical/clinical costs and completion of laquinimod’s LION study.

• Cash and cash equivalents were SEK 36.3M at September 30, 2026, versus SEK 65.1M at year-end 2025.

Outlook and guidance

• Available cash resources are expected to support operations into early Q4 2027; additional growth capital is required within 12 months to complete tasquinimod’s ongoing phase II study.

• A multicenter US tasquinimod study through MPN-RC is anticipated to start in Q1 2027, subject to regulatory and ethics approvals.

• Priorities are advancing tasquinimod’s myelofibrosis studies and securing a commercial partner for laquinimod’s phase II/III development.