Coiled Therapeutics (COIL) H1 2026 earnings summary

Executive summary

• Completed acquisition of exclusive worldwide licence to AO-252, changed company name, and transitioned listing from Main Market to AIM.

• Raised £8.5 million gross via placing and subscriptions to fund AO-252 clinical development.

• Strengthened Board and advisory team with key appointments, including new Executive Chairman, CEO, and Non-Executive Directors.

• Reported positive Phase I data for AO-252, showing 80% clinical benefit rate in twice-daily dosing among heavily pre-treated patients.

• Developed next-generation lipid-based softgel formulation of AO-252, with first patient dosed post-period end.

Financial highlights

• Net loss for H1 2026 was £3,851,679, primarily due to R&D (£1,257,095), share-based payments (£1,128,977), admin expenses (£831,624), and one-off relisting/acquisition costs (£632,161).

• Cash balance at 30 June 2026 was £5,099,604, supporting ongoing operations.

• Gross proceeds of £8.5 million raised through share issue at 10 pence per share.

• Total assets at period end were £48,876,554, with intangible assets reflecting the AO-252 licence acquisition.

Outlook and guidance

• Focus for H2 2026 and 2027 is on generating safety, pharmacokinetic, and efficacy data from the new AO-252 formulation.

• Initial safety and pharmacokinetic data expected by end of 2026; preliminary efficacy and safety database (~50 patients) targeted for 2027.

• Data will inform registrational planning and support strategic partnership discussions.