Aptahem (APTA) Q2 2024 earnings summary

Executive summary

• Second quarter marked by completion of phase 1 clinical study for Apta-1, confirming safety and tolerability; preparations underway for phase 2 Proof-of-Concept study in patients with severe inflammatory conditions.

• Collaboration initiated with Ajinomoto Bio-Pharma Services to develop a scalable, cost-effective manufacturing process for Apta-1.

• Participated in BIO International Convention, resulting in several new confidentiality agreements with potential partners.

Financial highlights

• Q2 2024 operating income: 445 KSEK (411 KSEK Q2 2023); H1 2024: 1,053 KSEK (1,038 KSEK H1 2023).

• Result after financial items Q2: -2,634 KSEK (-2,736 KSEK Q2 2023); H1: -5,363 KSEK (-5,253 KSEK H1 2023).

• Earnings per share Q2: -0.46 SEK (-0.02 SEK Q2 2023); H1: -0.95 SEK (-0.03 SEK H1 2023), reflecting 100:1 reverse stock split.

• Cash and cash equivalents at June 30, 2024: 3,597 KSEK (5,782 KSEK June 30, 2023).

• Solid equity ratio at 95.93% (85.71% June 30, 2023).

Outlook and guidance

• IND-ready documentation for Apta-1 phase 2 study in progress; further clinical activity updates to be communicated.

• Ongoing business development with active partner discussions and follow-up from recent industry events.