Alzinova (ALZ) Q3 2024 earnings summary

Executive summary

• Appointed Tord Labuda as new CEO effective October 1, 2024, following an interim period with Carol Routledge as acting CEO.

• All patients in the high-dose part of the phase 1b study with ALZ-101 have received their last dose; first patient completed the entire phase 1b study.

• Accelerated partnering process with engagement of a US adviser for strategic collaborations.

Financial highlights

• Net sales for Q3 2024 were SEK 0 thousand (0); for the nine months, SEK 30 thousand (0).

• Loss after financial items for Q3 2024 was SEK -4,151 thousand (-3,549); for nine months, SEK -13,990 thousand (-11,749).

• Earnings per share for Q3 2024 were SEK -0.05 (-0.08); for nine months, SEK -0.24 (-0.30).

• Total costs in Q3 2024 were SEK 9,840 thousand (6,829), with R&D costs at SEK 5,771 thousand (3,300).

• Cash holdings at period end were SEK 22,674 thousand (32,905); equity ratio was 93.1% (93.9%).

Outlook and guidance

• Long-term data from the extension part of the phase 1b study expected in Q4 2024; high-dose cohort data anticipated early 2025.

• Preparations underway for phase 2 study, including protocol development and manufacturing.

• Results from the extension part of the phase 1b study expected around November-December 2024.

• Ongoing evaluation of strategic partnerships and capital raising to fund phase 2 development.