Curasight (CURAS) Q3 2025 earnings summary

Executive summary

• Advanced clinical and strategic progress in precision diagnostics and targeted radionuclide therapy for cancer, with a focus on brain and prostate cancer.

• Initiated Phase 1 trial for uTREAT® in brain cancer after receiving all necessary approvals; first patient dosing and initial biodistribution data expected by year-end.

• Expanded recruitment in the uTRACE® Phase II prostate cancer trial, with all European sites now active.

• Strengthened intellectual property with a new US patent for uTRACE®, extending protection to 2035.

Financial highlights

• Q3 2025 gross loss: KDKK -12,076 (Q3 2024: KDKK -6,135); operating loss: KDKK -13,545 (Q3 2024: KDKK -8,099); loss before tax: KDKK -14,262 (Q3 2024: KDKK -8,523); loss for the period: KDKK -12,887 (Q3 2024: KDKK -7,148).

• Q1–Q3 2025 gross loss: KDKK -34,475 (Q1–Q3 2024: KDKK -22,521); operating loss: KDKK -38,765 (Q1–Q3 2024: KDKK -28,443); loss before tax: KDKK -41,420 (Q1–Q3 2024: KDKK -30,002); loss for the period: KDKK -37,295 (Q1–Q3 2024: KDKK -25,877).

• Earnings per share Q3 2025: DKK -0.28 (Q3 2024: DKK -0.35); Q1–Q3 2025: DKK -0.81 (Q1–Q3 2024: DKK -1.25).

• Cash at September 30, 2025: KDKK 15,898 (September 30, 2024: KDKK 7,938).

• Equity ratio at September 30, 2025: 52.6% (September 30, 2024: 51.6%).

Outlook and guidance

• Focus on disciplined execution across all programs, with first patient dosing in uTREAT® Phase 1 brain cancer trial expected in H2 2025.

• Plan to initiate a Phase II basket trial in 2026, covering five cancer indications using the theranostic platform.

• Ongoing business development discussions with major pharma companies for UTRACE® and uTREAT® partnerships.