Disruptive Pharma (DPHA) Q2 2024 earnings summary

Executive summary

• Received first regulatory approval to start phase 2b POINTER study in Canada; all European approvals obtained after quarter-end.

• Completed a directed share issue of approximately 60 MSEK to major shareholders, strengthening financial position.

• Two new board members with significant pharma and commercialization experience elected at AGM.

• RMC-035 clinical program advanced, with focus on acute kidney injury in cardiac surgery and kidney transplantation.

Financial highlights

• Net sales were 0 KSEK for both Q2 and H1 2024, unchanged year-over-year.

• Net loss for Q2 was -23,874 KSEK (improved from -32,965 KSEK YoY); H1 net loss was -38,381 KSEK (improved from -72,885 KSEK YoY).

• EPS for Q2 was -2.33 SEK (-3.28 YoY); H1 EPS was -3.78 SEK (-7.24 YoY).

• Cash and cash equivalents at June 30, 2024: 91,587 KSEK (128,253 KSEK YoY).

• Positive cash flow in Q2: 27,042 KSEK (vs. -38,304 KSEK YoY), mainly due to the share issue.

Outlook and guidance

• Patient recruitment for POINTER phase 2b study expected to begin shortly, with results anticipated about 18 months after start.

• Additional rights issue (compensation issue) planned for Q3 2024 to allow all shareholders to participate on same terms as directed issue.

• Continued focus on advancing RMC-035 in both cardiac surgery and kidney transplantation indications.