Arovella Therapeutics (ALA) AGM 2025 summary

Opening remarks and agenda

• Meeting opened with introductions of board members, confirmation of quorum and agenda, and remarks from Interim Chair Dr. Liz Stoner and CEO Dr. Michael Baker, highlighting leadership experience and recent board developments.

• Leadership transition acknowledged, with Tom Duffy stepping down and Elizabeth Stoner as Interim Chair.

Financial performance review

• Raised AUD 15 million before offer costs, strengthening capital position for clinical advancement.

• Ended September quarter with just under AUD 22 million in cash; market capitalisation reached $113.72 million as of October 2025.

• Major shareholders include Biotech Capital Management and Netwealth Investments, each holding over 2% of shares.

• Share price ranged from $0.068 to $0.210 over the past year, with a decline in 2025 attributed to a corporate issue, not technology performance.

Board and executive committee updates

• Search for a new chair with extensive drug development and commercial expertise concluded, with an appointment announcement expected this quarter.

• Recent key hires include Senior Director of Clinical Development, Dr. Clinton Heinze for preclinical work, and Dr. Alfie Baker to establish the first in-house research lab.

• Board members bring extensive experience in biopharma, oncology, and operational management.