AdAlta (1AD) H2 2025 earnings summary

Executive summary

• Advanced 'East to West' strategy, focusing on in-licensing CAR-T cell therapies for solid cancers from Asia and progressing them for Western markets, with two lead assets prioritized for licensing after due diligence and development planning.

• Ceased internal i-bodyⓇ discovery and closed in-house labs to focus resources on cellular immunotherapy; seeking to monetize legacy assets AD-214 (fibrosis) and WD-34 (malaria).

• Raised $2.2 million through institutional investment and a fully subscribed rights issue; implemented significant cost reductions, including staff and executive salary suspensions.

Financial highlights

• Net loss after tax of $4,502,268 for FY25, an improvement from $5,381,269 in FY24.

• R&D tax incentive income of $677,010 (FY24: $1,737,798); cash at year-end $1.31 million (FY24: $3.13 million).

• Total revenue and other income: $695,654 (FY24: $1,784,523); total expenses: $5,197,922 (FY24: $7,165,792).

• No dividends declared or paid.

Outlook and guidance

• Targeting execution of at least one in-licensing transaction for a CAR-T asset before end of 2025, subject to financing.

• Aims to initiate one new clinical trial per year from 2026 onwards; ongoing efforts to out-license AD-214 and WD-34.

• Board reviewing additional in- and out-licensing and acquisition opportunities.