Emyria (EMD) Q1 2025 TU earnings summary

Executive summary

• Operating cash outflows decreased 25% in Q1 FY25, aided by the closure of loss-making Emerald Clinics and cost containment strategies.

• Clinical visits at Empax Centre grew 41% sequentially, reflecting increased demand for specialised mental health programs.

• Received a $499,411 grant to advance MDMA-inspired drug development and expects a $1.46M R&D Tax Incentive refund, with $640,000 net after loan repayment.

• Positive interim results from MDMA-assisted therapy for PTSD showed significant symptom and quality of life improvements.

• Ethics endorsement received for psilocybin program targeting treatment-resistant depression; Empax Centre selected for a sponsored psilocybin trial.

Financial highlights

• Net cash used in operating activities was $1.2M for Q1 FY25, down from the prior quarter.

• Cash and cash equivalents at quarter end were $646,000, down from $1.57M at the start of the quarter.

• $320,000 raised from equity issuance during the quarter.

• Related party payments totaled $138,000 for wages, fees, and superannuation.

Outlook and guidance

• Focus on payer engagement and clinical service expansion, including pilot submissions to private health insurers and government.

• Plans to launch new medication-assisted therapy programs and expand to new sites.

• Anticipates improved cash flow from cost savings and increased service revenue.

• Drug discovery partnership with UWA remains a key focus, with a commercial license agreement in progress.