Curasight (CURAS) Q1 2025 earnings summary

Executive summary

• Achieved key scientific progress and secured funding to advance parallel development of UTRACE and uTREAT platforms, despite challenging macroeconomic conditions.

• Announced a rights issue aiming to raise DKK 100 million, with DKK 65 million already secured through pre-subscriptions and guarantees, including from strategic partners Curium and Pentwater.

• Strengthened financial base will support completion of Phase II trial for uTRACE in prostate cancer and Phase I trial for uTREAT in glioblastoma, with major clinical milestones expected in H2 2025.

Financial highlights

• Q1 2025 gross loss was KDKK -4,699, improved from KDKK -7,385 in Q1 2024.

• Operating loss for Q1 2025 was KDKK -6,209, compared to KDKK -9,376 in Q1 2024.

• Loss before tax was KDKK -6,579, versus KDKK -9,367 year-over-year.

• Loss for the period was KDKK -5,204, compared to KDKK -7,992 in Q1 2024.

• Cash at March 31, 2025, was KDKK 1,514, down from KDKK 11,877 a year earlier.

Outlook and guidance

• Topline data from Phase II uTRACE trial in prostate cancer expected in H2 2025, with final data in H1 2026.

• First clinical trial for uTREAT in glioblastoma to have efficacy readouts by end of H2 2025 and final data in H1 2026.

• Plans to initiate a Phase II basket trial in 2026, covering five cancer indications.