DexTech Medical (DEX) Q3 2025 earnings summary

Executive summary

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

• Operating loss improved to MSEK -1.3 in Q3 (from -1.5) and MSEK -3.7 for nine months (from -3.9) compared to prior year.

• Lead candidate OsteoDex continues in Phase 1 myeloma study, showing stable disease in all patients of the first dose group and no significant side effects.

• Company is financed through Q4 2026 due to reduced costs and prior rights issue.

Financial highlights

• Net sales: MSEK 0.0 for both Q3 and nine months, unchanged year-over-year.

• Operating loss: MSEK -1.3 in Q3 (vs. -1.5 prior year); MSEK -3.7 for nine months (vs. -3.9 prior year).

• Earnings per share: SEK -0.07 in Q3 (vs. -0.08); SEK -0.18 for nine months (unchanged).

• Cash and cash equivalents: SEK 15.6 million at period end (vs. 19.0 million prior year).

• Equity ratio: 99% at period end (vs. 97%).

Outlook and guidance

• Operations funded through Q4 2026; license revenues targeted for future self-financing.

• Multiple myeloma Phase 1 study expected to complete in Q4 2025; results from higher dose groups pending.

• Continued focus on out-licensing drug candidates after Phase II studies.