AcuCort (ACUC) Q3 2024 earnings summary

Executive summary

• Zeqmelit® launched in Sweden, Norway, and Finland, with expansion plans targeting major European markets and the US; first sales recorded in Q3 2024.

• Zeqmelit® registered as a trademark in the US; regulatory preparations underway for FDA submission in 2025.

• Phase IV study ZEQ001 completed patient visits; data analysis ongoing for publication.

Financial highlights

• Q3 2024 net sales reached 675 KSEK, up from 0 KSEK in Q3 2023.

• Net loss after tax for Q3 2024 was -2,484 KSEK, improved from -3,131 KSEK in Q3 2023.

• EPS for Q3 2024 was -0.02 SEK, compared to -0.10 SEK in Q3 2023.

• Cash position at period end was 7,976 KSEK.

• For Jan–Sep 2024, net sales were 675 KSEK and net loss after tax was -9,900 KSEK.

Outlook and guidance

• Anticipates further regulatory approvals outside Scandinavia and expects revenue growth as Zeqmelit® expands to new markets.

• Capital from upcoming rights issue will primarily fund Zeqmelit® launches in additional markets.

• Board expects working capital needs to be met through available liquidity, rights issue proceeds, and sales revenue.