Disruptive Pharma (DPHA) Q2 2026 earnings summary

Executive summary

• Q2 2026 marked a strategic shift with the completion of a reverse takeover, transitioning focus to the Formulite® platform for next-generation drug development and commercialization.

• Financials for the period reflect the legacy Guard Therapeutics business, not the new Disruptive Pharma operations.

• Formulite® is positioned as a patented, clinically validated technology aimed at improving solubility, stability, and bioavailability of oral drugs.

• The business model is partner-driven, targeting collaborations, licensing, and milestone/royalty revenues.

Financial highlights

• Net sales were 0 KSEK for both Q2 and H1 2026 (unchanged year-over-year).

• Net result for Q2: -4,364 KSEK (improved from -32,221 KSEK year-over-year); H1: -10,716 KSEK (improved from -66,436 KSEK year-over-year).

• EPS for Q2: -0.22 SEK (vs. -1.66); H1: -0.53 SEK (vs. -4.19).

• Cash and equivalents at June 30: 34,105 KSEK (down from 100,481 KSEK year-over-year).

• Equity at period end: 32,178 KSEK (vs. 80,395 KSEK prior year).

Outlook and guidance

• The company expects its financial resources post-transaction to support operations and strategic investments for approximately 18 months, even without revenues.

• Focus is on expanding Formulite® projects, scaling manufacturing, and establishing strategic partnerships.