AdAlta (1AD) Q1 2026 TU earnings summary

Executive summary

• Advanced licensing negotiations for the first CAR-T product under the "East to West" cellular immunotherapy strategy, with a growing pipeline of global private investors evaluating the opportunity.

• Raised $1.6 million in two at-market placements post-period end, strengthening the balance sheet and enabling repayment of the NLSC investment.

• Final settlement of the Meurs Group investment agreement in shares, with no further shares to be issued under either NLSC or Meurs Group agreements.

• Focus remains on executing the "East to West" strategy and evaluating strategic options for other assets, including AD-214.

Financial highlights

• Cash balance at 30 September 2025 was $0.55 million, down from $1.31 million at 30 June 2025.

• Net operating cash outflows for Q1 FY26 were $754,854, comparable to the prior quarter.

• Cash operating costs for the quarter were $531,374, a 26% reduction from the previous quarter after adjusting for one-time costs.

Outlook and guidance

• Additional inflows expected in Q2 FY26 from October placements (subject to shareholder approval) and the R&D Tax Incentive rebate.

• Operating costs anticipated to continue declining until strategic transactions are executed.

• Board focused on executing at least one in-licensing transaction for AdCella in the current quarter, with completion subject to initial financing.