Gubra (GUBRA) Investor presentation summary

Strategic innovation and business model

• Operates a disease-agnostic techbio model with deep peptide and preclinical expertise, integrating CRO, Biotech, Ventures, and Green divisions for value creation and societal impact.

• Proprietary AI-driven StreamLine™ peptide discovery platform accelerates drug development and enhances competitive advantage.

• Ventures arm expands innovation into new therapeutic areas, leveraging external capital and Gubra’s integrated capabilities.

Pipeline and R&D highlights

• Robust pipeline in obesity, cachexia, rare diseases, and women’s health, with multiple assets advancing to clinical stages.

• GUB-UCN2, a novel CRHR2 agonist, shows promise in improving body composition, muscle mass, and cardiorenal health, with Phase 1/2a trial initiated.

• ABBV-295, licensed to AbbVie, demonstrated up to 9.8% weight loss in Phase 1 and is progressing to Phase 2, supported by a $350m upfront and up to $2.2bn in total deal value.

• BI 3034701, a triple receptor agonist for obesity, entered Phase 2 after favorable Phase 1 results and a €10m milestone payment.

Financial performance and outlook

• Biotech revenue in H1 2026 was DKK 30m, down from DKK 2.4bn in H1 2025, reflecting the prior year’s AbbVie upfront payment; EBIT was DKK -120m.

• CRO revenue grew 11% in H1 2026 versus H2 2025, with profitability returning after a challenging 2025; EBIT margin improved to 4%.

• 2026 guidance: Biotech revenue not guided, CRO external revenue DKK 330–360m, EBIT margin 10–15%.