DexTech Medical (DEX) Q1 24/25 earnings summary

Executive summary

• Net sales remained at SEK 0.0 million for the quarter, with an operating loss of SEK -1.3 million compared to SEK -1.1 million year-over-year.

• Cash and cash equivalents at period end were SEK 18.0 million, down from SEK 19.0 million a year earlier.

• Phase 1 myeloma study showed 3 out of 4 patients achieved stable disease, with no serious adverse events related to OsteoDex.

• The company continues to focus on drug development, with capital dedicated to R&D and patents.

Financial highlights

• Operating loss for the quarter was SEK -1.3 million, compared to SEK -1.1 million in the same quarter last year.

• Earnings per share were SEK -0.06, down from SEK -0.05 year-over-year.

• Cash flow for the period was SEK -1.1 million, compared to SEK -1.6 million year-over-year.

• Equity at period end was SEK 28.5 million, or SEK 1.54 per share.

• Equity/assets ratio stood at 98%, up from 97% year-over-year.

Outlook and guidance

• The ongoing Phase 1 myeloma study is expected to complete in Q2 2025, with the Rights Issue 2021 ensuring operations until end of 2025.

• The company aims for license revenues to finance operations after 2025.

• Further clinical development of OsteoDex for mCRPC will require a larger partner and significant investment.