Coegin Pharma (COEGIN) Q4 2024 earnings summary

Executive summary

• 2024 marked foundational progress for commercializing Follicopeptide, a hair growth innovation, with successful safety studies, product line development, and key collaborations established.

• Portfolio expanded to include NPP-4, a novel skin pigmentation peptide targeting a large and growing market.

• Transition underway from development-focused to commercial-stage company, with Follicopeptide launch planned for 2025 and NPP-4 for 2026.

Financial highlights

• Net revenue was 0 TSEK for both Q4 and full year 2024, unchanged from 2023.

• Operating profit improved to -7,136 TSEK in Q4 2024 from -7,743 TSEK in Q4 2023; full year operating profit was -23,333 TSEK, up from -27,816 TSEK in 2023.

• Earnings per share before and after dilution improved to -1.26 SEK for 2024 from -3.04 SEK in 2023.

• Cash position at year-end was 19,679 TSEK, up from 5,548 TSEK at the end of 2023.

• Equity at year-end was 25,259 TSEK, up from 6,752 TSEK a year earlier.

Outlook and guidance

• Follicopeptide product line targeted for global launch by end of 2025; NPP-4 skin pigmentation product launch planned for 2026.

• Company has secured base-level financing into at least Q4 2025.

• Ongoing business development and licensing discussions with global and regional partners for both key products.