Elicera Therapeutics (ELIC) Q4 2024 earnings summary

Executive summary

• Operating loss for 2024 was SEK -16.9m, a slight improvement from SEK -17.1m in 2023; loss for the period was SEK -16.1m versus SEK -16.4m prior year.

• Cash flow from operating activities was SEK -23.5m, down from SEK -14.9m in 2023; cash and cash equivalents at year-end were SEK 26.4m.

• Rights issue raised SEK 27.6m before costs, increasing share capital and number of shares; warrants issued for future capital raising.

• ELC-100 received Orphan Drug Designation from the FDA for pancreatic neuroendocrine tumors.

• First patient in CARMA study (ELC-301) achieved complete response with no serious side effects at one-month follow-up.

Financial highlights

• Q4 2024 operating loss was SEK -2.9m, improved from SEK -5.2m in Q4 2023; loss for the quarter was SEK -2.6m.

• Earnings per share for 2024 were SEK -0.51, up from SEK -0.83 in 2023; Q4 EPS was SEK -0.07, up from SEK -0.24.

• Equity at year-end was SEK 20.8m, up from SEK 16.4m; equity/asset ratio improved to 76% from 54% year-over-year.

• No dividend proposed for 2024.

Outlook and guidance

• Preliminary data from the ELC-301 CARMA study expected in 2025; structured results to be presented as dosing groups complete.

• Final data from the ELC-100 phase I study anticipated around mid-2025.

• Additional revenue expected from licensing iTANK platform and potential commercial partnerships.