Elicera Therapeutics (ELIC) Q2 2025 earnings summary

Executive summary

• Operating loss for Q2 2025 improved to SEK -2.9M from SEK -5.8M year-over-year, with a similar trend for the half-year period, reflecting increased grants and reduced costs.

• Four out of six patients in the first two CARMA study cohorts achieved complete metabolic response, with no serious adverse events reported.

• ELC-100 received Orphan Drug Designation in the U.S. for pancreatic neuroendocrine tumors.

• Successful warrant program and share issue raised SEK 22M, extending capitalization until mid-2027.

Financial highlights

• Q2 2025 operating loss: SEK -2,892,341 (Q2 2024: -5,841,409); H1 2025: SEK -10,961,745 (H1 2024: -11,274,831).

• Loss for Q2 2025: SEK -2,732,070 (Q2 2024: -5,622,779); H1 2025: SEK -10,745,532 (H1 2024: -10,992,456).

• Cash flow from operating activities H1 2025: SEK -6,736,135 (H1 2024: -16,997,666).

• Cash and cash equivalents at period end: SEK 39,661,563 (H1 2024: 32,864,607).

• Earnings per share H1 2025: SEK -0.25 (H1 2024: -0.39).

Outlook and guidance

• Capitalization is projected to last until mid-2027, supporting completion of the CARMA study.

• Final reporting for the ELC-100 Phase I/IIa study is postponed to year-end 2025 due to a database transition.

• Continued focus on securing funding and partnerships for preclinical programs, especially ELC-401 for glioblastoma.