Hamlet BioPharma (HAMLET) Q1 2025 earnings summary

Executive summary

• Achieved significant clinical progress in bladder cancer, recurrent acute cystitis, and bladder pain, with three Phase II studies showing positive results.

• Alpha1H advanced from discovery to clinical trials, receiving FDA IND approval and Fast Track designation for non-muscle invasive bladder cancer.

• IL-1 receptor antagonist (anakinra) demonstrated efficacy comparable to antibiotics in recurrent cystitis, offering a non-antibiotic alternative.

• Strategic alliances and commercial collaborations remain a key focus, with efforts to broaden industry partnerships.

Financial highlights

• Net sales were KSEK 0 (0) for both the parent company and group in Q1 2024/25.

• Loss before tax: KSEK -9,766 (parent), KSEK -10,264 (group), compared to -8,329 and -8,828 in the prior year.

• Loss per share: SEK -0.0582 (parent), SEK -0.0612 (group), improved from SEK -0.0661 and SEK -0.0701 year-over-year.

• Cash and cash equivalents at quarter-end: KSEK 16,516 (parent), KSEK 16,541 (group), up from KSEK 13,166 and KSEK 13,191 year-over-year.

• Equity/assets ratio: 91.8% (parent), 91.4% (group), up from 86.8% and 86.6% year-over-year.

Outlook and guidance

• Continued advancement of clinical and commercial development for Alpha1H and IL-1RA projects.

• Company anticipates the need to raise capital during the financial year to secure ongoing operations.

• Focus remains on strategic partnerships and preparing for Phase III trials and commercialization.