AdAlta (1AD) Q4 2025 TU earnings summary

Executive summary

• Prioritised two "East to West" CAR-T cellular immunotherapy products for licensing, advancing negotiations to definitive agreements.

• Raised $1.3 million via a fully subscribed Entitlement Offer to support partnering and transaction initiatives.

• Implemented significant cash management measures, including staff reductions, suspension of Board/CEO pay, and sale of surplus equipment.

• Continued active investor outreach and received new inbound interest for AD-214 and WD-34 assets.

Financial highlights

• Cash balance at 30 June 2025 was $1.31 million, up from $0.83 million at 31 March 2025.

• Net operating cash outflows for Q4 FY25 were $759,000, a 37% decrease from the prior quarter.

• Staff costs decreased 29% sequentially, reflecting workforce reductions.

• R&D costs increased due to one-time immunotherapy development planning; overall non-staff costs fell 40% from the previous quarter.

• $1,284,281 raised from the Entitlement Offer, with $109,615 from equipment sales.

Outlook and guidance

• Targeting execution of at least one in-licensing transaction for the "East to West" strategy in the September 2025 quarter, subject to financing.

• Expects further reductions in operating cash outflows as cost-saving measures take full effect.

• No new R&D costs will be incurred unless financing or transactions are secured.

• Anticipates R&D Tax Incentive rebate in December 2025, to be used for loan repayment.