Dicot (DICOT) Q1 2025 earnings summary

Executive summary

• Net sales remained at SEK 0.0 million for the quarter, consistent with the same period last year.

• Result after financial items was SEK -22.9 million, a larger loss compared to SEK -13.6 million in Q1 2024.

• Earnings per share improved to SEK -0.01 from SEK -0.02 year-over-year.

• Strong shareholder support with a 96% warrant subscription rate, securing significant liquidity.

• Ongoing phase 2a clinical study for LIB-01 progressing on schedule, with high recruitment rates.

Financial highlights

• Operating expenses increased to SEK 23.6 million from SEK 13.7 million year-over-year, reflecting higher clinical activity.

• Net loss widened to SEK -22.9 million from SEK -13.6 million year-over-year.

• Cash and cash equivalents at quarter-end were SEK 92.8 million, up from SEK 32.0 million a year earlier.

• Equity increased to SEK 88.4 million from SEK 30.8 million at the end of Q1 2024.

• No capitalized development costs; all R&D expensed as incurred.

Outlook and guidance

• Phase 2a study expected to complete by mid-2025, with statistical analysis and reporting to follow.

• Preparations underway for phase 2b, supply chain scaling, and exploration of LIB-01's metabolic indications.

• Company is well-financed for ongoing and upcoming clinical activities, including phase 2b and manufacturing scale-up.