Dicot (DICOT) Q2 2025 earnings summary

Executive summary

• Phase 2a clinical study for LIB-01 completed enrollment; results expected by November 2025.

• LIB-01 demonstrated a unique mechanism of action, potentially addressing unmet needs in erectile dysfunction.

• Drug development and financial performance aligned with internal forecasts.

• Shareholder base more than doubled year-over-year, with strong trading activity.

Financial highlights

• Net sales were SEK 0.0 million for both Q2 and H1 2025, unchanged year-over-year.

• Net loss after financial items was SEK -24.3 million for Q2 2025 (vs. -13.1 million Q2 2024) and SEK -47.2 million for H1 2025 (vs. -26.8 million H1 2024).

• Operating expenses increased to SEK 25.0 million in Q2 2025 (vs. 13.5 million Q2 2024), reflecting higher clinical activity.

• Cash and cash equivalents at June 30, 2025, were SEK 105.8 million (vs. 17.1 million June 2024).

• Earnings per share for Q2 2025 were SEK -0.01 (vs. -0.02 Q2 2024); for H1 2025, SEK -0.03 (unchanged year-over-year).

Outlook and guidance

• Phase 2a study results to be reported by November 2025; preparations underway for Phase 2b in the US, planned for 2026.

• Cash position sufficient to complete Phase 2a, partially fund Phase 2b, and support manufacturing scale-up.

• Ongoing evaluation of financial and industrial partnerships for commercialization.