Gabather (GABA) Q1 2026 earnings summary

Executive summary

• Focus during Q1 2026 was on operational execution, advancing GT-002 towards clinical validation and strengthening financial position through a directed share issue.

• Initiation of the first patient study (TOTEMS) with GT-002 in schizophrenia spectrum, marking a key milestone from preclinical to clinical phase.

• Strategic expansion with a new patent application for non-sedative sleep treatment, targeting a large and growing global market.

Financial highlights

• Net revenue was 0 tkr, unchanged year-over-year.

• Operating loss widened to -1,052 tkr from -303 tkr year-over-year.

• Net loss after tax was -1,067 tkr compared to -336 tkr in Q1 2025.

• Cash flow for the period was 2,894 tkr, down from 4,127 tkr in Q1 2025.

• Cash and cash equivalents at period end were 6,037 tkr, up from 3,143 tkr at year-end 2025.

Outlook and guidance

• Liquidity after the March 2026 share issue is deemed sufficient to finance operations for the next twelve months.

• Ongoing evaluation of new financing options and further cost savings to strengthen capital structure.