Elicera Therapeutics (ELIC) Q4 2025 earnings summary

Executive summary

• Achieved significant clinical progress, notably in the CARMA study for B-cell lymphoma, with 4 out of 6 patients in early cohorts showing complete metabolic response and no serious adverse events reported.

• Completed Phase I/II trial for ELC-100 in neuroendocrine tumors, demonstrating good safety and early efficacy signals, including partial responses in two of eight evaluable patients.

• Advanced preclinical programs, especially ELC-401 for glioblastoma, and continued efforts to secure financing and strategic partnerships.

• Increased international visibility through scientific presentations and collaborations.

Financial highlights

• Operating loss for Q4 2025 was SEK -7.1 million, compared to SEK -2.9 million in Q4 2024; full-year operating loss was SEK -17.9 million, up from SEK -16.9 million in 2024.

• Loss for Q4 2025 was SEK -7.0 million (Q4 2024: SEK -2.6 million); full-year loss was SEK -17.4 million (2024: SEK -16.1 million).

• Cash flow from operating activities for Q4 2025 was SEK -10.1 million (Q4 2024: SEK -4.2 million); full-year cash flow from operations was SEK -21.6 million (2024: SEK -23.5 million).

• Cash and cash equivalents at year-end were SEK 24.8 million (2024: SEK 26.4 million).

• Earnings per share for the year were SEK -0.38 (2024: SEK -0.51).

Outlook and guidance

• Next data update from the CARMA study, including the highest dose group, is planned for Q2 2026.

• Strategic options for further development of ELC-100 are under evaluation following positive Phase I/II results.

• Advisory meeting with Swedish Medical Products Agency planned for ELC-401 in spring 2026; clinical studies may start in 2027.

• Continued focus on securing grants and partnerships to fund preclinical and clinical programs.