Disruptive Pharma (DPHA) Q4 2024 earnings summary

Executive summary

• Patient recruitment for the phase 2b POINTER study accelerated in Q4 2024, with all clinics activated and 25% of planned patients enrolled by early January 2025.

• The main focus remains on advancing RMC-035 as a kidney-protective treatment in open-heart surgery, with significant milestones expected in 2025.

• No revenue was generated in 2024; the company remains in a clinical development phase.

Financial highlights

• Net sales were 0 KSEK for both Q4 and the full year 2024, unchanged from the previous year.

• Net loss for Q4 was -25,958 KSEK (vs. -17,096 KSEK in Q4 2023); full-year net loss was -96,066 KSEK (vs. -113,323 KSEK in 2023).

• Operating loss for Q4 was -27,089 KSEK (vs. -15,330 KSEK); full-year operating loss was -99,905 KSEK (vs. -115,073 KSEK).

• Cash and cash equivalents at year-end were 54,186 KSEK (vs. 83,741 KSEK at end 2023).

• No dividend proposed for 2024.

Outlook and guidance

• The first safety analysis from the POINTER study is expected in Q1 2025; further milestones include full patient recruitment and top-line results within 2025.

• A planned rights issue of up to 150 MSEK is contingent on a positive safety review and EGM approval in March 2025.

• The capital raise is intended to fund completion of POINTER, phase 3 preparations, and business development activities.