Elicera Therapeutics (ELIC) Q3 2024 earnings summary

Executive summary

• Operating loss for Q3 2024 improved to SEK -2.7m from SEK -5.1m year-over-year; nine-month loss increased to SEK -14.0m from SEK -11.9m.

• Loss for Q3 2024 was SEK -2.5m (vs. -5.0m), and for the nine months SEK -13.5m (vs. -11.6m).

• Cash flow from operating activities improved in Q3 to SEK -2.2m (vs. -14.2m); nine-month cash flow was SEK -19.2m (vs. -18.4m).

• Cash and cash equivalents at period end were SEK 30.6m, up from SEK 25.9m a year earlier.

• Key clinical milestones: first patient enrolled in CARMA Phase I/IIa study (ELC-301) and final patient enrolled in ELC-100 Phase I/II trial.

Financial highlights

• Q3 2024 operating loss: SEK -2.7m (Q3 2023: -5.1m); nine-month operating loss: SEK -14.0m (2023: -11.9m).

• Q3 2024 loss for the period: SEK -2.5m (Q3 2023: -5.0m); nine-month loss: SEK -13.5m (2023: -11.6m).

• Earnings per share for Q3: SEK -0.07 (Q3 2023: -0.26); nine months: SEK -0.45 (2023: -0.59).

• Cash flow from operating activities Q3: SEK -2.2m (Q3 2023: -14.2m); nine months: SEK -19.2m (2023: -18.4m).

• Cash and cash equivalents at period end: SEK 30.6m (2023: SEK 25.9m).

Outlook and guidance

• Preliminary findings from the first part of the ELC-100 study and safety evaluation from the first CARMA cohort expected in H1 2025.

• Remaining EU grant of SEK 9.3m to be received over the next two years, supporting ongoing clinical programs.

• Continued focus on advancing clinical pipeline and out-licensing iTANK platform.