DexTech Medical (DEX) Q2 2025 earnings summary

Executive summary

• No net sales reported for the quarter or half-year; focus remains on R&D and clinical trials.

• Operating loss improved to MSEK -1.1 in Q2 (from -1.4) and MSEK -2.4 for H1 (from -2.5) compared to last year.

• Cash position at period end was MSEK 16.3, supporting operations until Q4 2026 due to reduced costs.

• Ongoing Phase 1 myeloma study shows promising results: 3 of 4 patients achieved stable disease, with no serious adverse events.

Financial highlights

• Net sales: MSEK 0.0 for both Q2 and H1, unchanged year-over-year.

• Operating loss: MSEK -1.1 in Q2 (vs. -1.4) and MSEK -2.4 in H1 (vs. -2.5).

• Earnings per share: SEK -0.05 in Q2 (vs. -0.06), SEK -0.11 in H1 (unchanged).

• Cash flow for H1: SEK -2.7 million (vs. -3.1 million).

• Equity at period end: SEK 27.5 million, equity/assets ratio 99%.

Outlook and guidance

• Operations financed through Q4 2026, supported by previous rights issue and cost reductions.

• License revenues targeted to finance operations beyond 2026.

• Phase 1 myeloma study expected to complete in Q4 2025; focus on proof of concept for OsteoDex.