Ascelia Pharma (ACE) Q2 2026 earnings summary

Executive summary

• Focus on advancing Orviglance, a liver diagnostic imaging drug, and Oncoral, an oral chemotherapy for solid tumors, with Orviglance clinical program completed and Oncoral ready for Phase 2.

• Orviglance targets a global market of $800 million, addressing unmet needs in liver imaging for patients with impaired kidney function and positioned as a first-in-class gadolinium-free MRI contrast agent.

• Oncoral is positioned for improved efficacy and safety in solid tumor treatment, with a Phase 2 study in gastric cancer planned and collaboration with Taiho Oncology.

• Continued partnering discussions for Orviglance commercialization despite regulatory delay, with strong interest.

• Implemented cost-saving measures and extended cash runway into Q2 2027 after a SEK 20 million directed share issue.

Financial highlights

• Q2 2026 operating loss of SEK 12 million, improved from SEK 23 million year-over-year; H1 2026 operating loss of SEK 28.6 million, improved from SEK 43.3 million.

• Q2 2026 net loss: SEK 12.2 million (SEK 0.09 per share); H1 net loss: SEK 28.6 million (SEK 0.22 per share).

• Liquid assets of SEK 38 million as of June 30, 2026, down from SEK 60.4 million a year earlier.

• SEK 20 million raised via directed share issue in April 2026.

• Cash runway extended into Q2 2027 after cost-saving initiatives.

Outlook and guidance

• Type A meeting with FDA scheduled for September 9, 2026, to discuss Orviglance approval path.

• Cash runway extended into Q2 2027; further financing may be needed depending on FDA requirements.

• Continued focus on cost discipline and advancing Orviglance toward approval and commercialization.

• Partnering interest for Orviglance remains strong; clarity on regulatory path is key for future deals.

• Cost reduction initiatives implemented to support financial stability.