Disruptive Pharma (DPHA) Q2 2025 earnings summary

Executive summary

• Completed patient recruitment for the Phase 2b POINTER study ahead of schedule, marking a major operational milestone.

• Positive final safety review from the independent DSMC, with no safety concerns identified, supports continued study progress.

• Rights issue completed, raising approximately SEK 120 million before costs, securing funding for ongoing clinical activities.

• Focus remains on efficient, high-quality execution of the POINTER study and preparation for potential Phase 3.

Financial highlights

• Net sales were KSEK 0 for both the quarter and first half, unchanged from last year.

• Loss for Q2 was KSEK -32,221 (vs. -23,874 last year); H1 loss was KSEK -66,436 (vs. -38,381 last year).

• Earnings per share for Q2: SEK -1.66 (vs. -2.33); H1: SEK -4.19 (vs. -3.78).

• Cash and cash equivalents at period end: KSEK 100,481 (vs. 91,587 last year).

• Equity ratio at 79% (vs. 81% last year).

Outlook and guidance

• Full follow-up data from the POINTER study expected in early September, with overall results anticipated in Q4 2025.

• Preparations underway for potential Phase 3 study, pending POINTER results.

• Ongoing business development and increased interest from pharmaceutical partners as clinical milestones approach.