Diamyd Medical (DMYD) Q4 25/26 earnings summary

Executive summary

• FY 2025/26 net sales were MSEK 0.5 and net loss was MSEK 255.6; the year included the early termination of DIAGNODE-3 and a strategic refocus on retogatein.

• Management expects the current cash position to fund operations for more than two years under the approved budget, following cost reductions and study-closure expenses.

Financial highlights

• Net sales were MSEK 0.5 vs. 0.1 YoY; Q4 sales were MSEK 0.1 vs. 0.0.

• Net loss was MSEK 255.6 vs. 169.8; Q4 net loss was MSEK 16.8 vs. 44.9.

• Operating loss was MSEK 262.3 vs. 183.2; external R&D costs were MSEK 180.1 vs. 119.5.

• Operating cash flow was MSEK -195.3 vs. -169.7; Q4 operating cash flow was MSEK -40.4 vs. -35.9.

• Cash and short-term investments were MSEK 305.4 at Aug. 31, 2026, vs. MSEK 277.2 a year earlier.

Outlook and guidance

• Approved-budget cash runway is expected to exceed two years.

• Priorities include developing retogatein for early-stage T1D, expanding Umeå manufacturing projects, broadening partner discussions, and making selected limited investments.

• The next retogatein drug-substance batch is scheduled for production before year-end.

• Clinical investigators are being engaged on trial designs for people matching retogatein’s genetically defined responder profile; pharmaceutical-company discussions continue.