AdAlta (1AD) H2 2026 earnings summary

Executive summary

• Clinical-stage biotech focused on next-gen cellular immunotherapies for solid cancers and protein therapeutics using proprietary i-body® platform.

• Launched 'East to West' strategy, securing first asset EW-001 (anti-PD1 armoured CAR-T for mesothelioma) via partnership with Shanghai Cell Therapy Group.

• Raised A$5.3 million across three placements to fund development and operations.

• Continued partnering efforts for AD-214 (fibrosis) and WD-34 (malaria), with patent coverage expanded.

Financial highlights

• Net loss after tax: $4,683,849 (2025: $4,502,268), reflecting increased R&D and licensing payments.

• Cash at year-end: $1.28 million (2025: $1.31 million).

• R&D tax incentive income: $404,245 (2025: $677,010).

• Raised $5.3 million in equity placements; repaid $0.41 million in convertible debt.

• No dividends declared or paid.

Outlook and guidance

• Key milestones for FY2027: Australian manufacturing runs and clinical trials for EW-001, US FDA pre-IND meeting, further asset acquisitions, and potential partnering/licensing deals for AD-214 and WD-34.

• Ongoing focus on capital efficiency, asset-level financing, and leveraging AI for asset selection and development planning.