AcuCort (ACUC) Q1 2025 earnings summary

Executive summary

• No revenue generated in Q1 2025; net loss after tax was -6,522 KSEK compared to -3,613 KSEK in Q1 2024.

• Successful rights issue oversubscribed at 160.6%, raising approximately 47.7 MSEK before costs.

• ZeqmelitⓇ received renewed market approval in Sweden, Denmark, and Norway; first order received in Denmark.

• Phase IV study for ZeqmelitⓇ completed with promising results; scientific articles in preparation.

• Focus on accelerating commercialization and expansion into new European markets and the US.

Financial highlights

• Net loss after tax: -6,522 KSEK (Q1 2024: -3,613 KSEK); EPS: -0.03 SEK (Q1 2024: -0.04 SEK).

• Cash position at period end: 38,379 KSEK (Q1 2024: 5,599 KSEK).

• Total costs slightly below forecast; 1,396 KSEK in development costs capitalized as intangible assets.

• No revenue recognized in the quarter; main expenses related to commercialization and regulatory consulting.

• Rights issue contributed 43,387 KSEK in financing cash flow.

Outlook and guidance

• Ongoing regulatory applications expected to yield further market approvals outside Scandinavia.

• Sales expected to increase approaching allergy season and with expansion into more European countries and the US.

• Available liquidity and proceeds from the rights issue deemed sufficient to meet working capital needs over the next 12 months.