Elicera Therapeutics (ELIC) Q2 2024 earnings summary

Executive summary

• Launched first clinical CAR T-cell study for lymphoma and signed new collaboration agreements in China and the US to advance the product portfolio.

• Initiated preclinical collaboration with China Medical University for ELC-201 and entered a US partnership to evaluate iTANK in T-cell receptor therapies.

• Board re-elected at AGM; rights issue of SEK 64 million approved, with 43% subscription yielding SEK 27.6 million before costs.

• No significant events occurred after the reporting period.

Financial highlights

• Operating loss for Q2 2024 was SEK -5.8 million, compared to SEK -4.5 million in Q2 2023; H1 2024 operating loss was SEK -11.3 million, up from SEK -6.7 million year-over-year.

• Loss for Q2 2024 was SEK -5.6 million (Q2 2023: SEK -4.3 million); H1 2024 loss was SEK -11.0 million (H1 2023: SEK -6.6 million).

• Cash flow from operating activities for H1 2024 was SEK -17.0 million (H1 2023: SEK -4.2 million).

• Cash and cash equivalents at June 30, 2024, totaled SEK 32.9 million (June 30, 2023: SEK 40.1 million).

• Earnings per share before and after dilution for H1 2024 were SEK -0.39 (H1 2023: SEK -0.33).

Outlook and guidance

• First interim data from the CARMA study (ELC-301) expected in early 2025, with full dose-escalation results in the second half of 2025, depending on patient recruitment.

• Final results from the Advince (ELC-100) study expected in the first half of 2025.

• Ongoing efforts to secure additional soft financing and commercial partnerships for clinical development.