Diamyd Medical (DMYD) Q3 2026 earnings summary

Executive summary

• The quarter was marked by the discontinuation of the Phase 3 DIAGNODE-3 trial after interim results showed futility, leading to a strategic review and significant organizational changes.

• Leadership changes included the departure of the CEO and CFO, with Anders Essen-Möller reappointed as CEO and Erik Nerpin as Chairman.

• The company is focusing on closing out the Phase 3 program, preserving its cash position, and exploring new strategic opportunities.

Financial highlights

• Net sales for the nine-month period were MSEK 0.4 (0.1), with Q3 net sales at MSEK 0.1 (0.0).

• Net result for the nine months was MSEK -238.8 (-124.9), with Q3 at MSEK -127.1 (-43.9), impacted by a provision of approximately 71 MSEK for DIAGNODE-3 close-down costs.

• Cash and short-term investments at May 31, 2026, were MSEK 346.4 (319.3).

• Cash flow from operating activities for the nine months was MSEK -154.9 (-133.7).

• Share price at period end was SEK 1.1 (8.8).

Outlook and guidance

• The immediate priority is to efficiently close out the Phase 3 program and reduce the cost base.

• The board will evaluate opportunities to deploy the strong cash position to maximize long-term shareholder value, including investments, partnerships, and strategic opportunities.

• The biomanufacturing unit in Umeå will be maintained and leveraged for internal and external projects.