Hamlet BioPharma (HAMLET) Q3 25/26 earnings summary

Executive summary

• Productive quarter with Phase II trial publications, Phase III trial infrastructure established, and new drug production partnerships, notably for tuberculosis with a Korean specialist.

• Ongoing positive partnering discussions for bladder cancer asset Alpha1H, with a letter of intent signed for commercialization.

• Three successful Phase II studies completed on a budget under SEK 300 million, demonstrating cost-effective development.

Financial highlights

• Net sales were KSEK 0 for both the quarter and nine-month period, reflecting pre-revenue status.

• EBITDA for the quarter was KSEK -9,561 (vs. -9,855 YoY); for nine months, KSEK -32,212 (vs. -29,504 YoY).

• EBIT for the quarter was KSEK -11,615 (vs. -11,992 YoY); for nine months, KSEK -38,356 (vs. -35,911 YoY).

• Net result for the quarter was KSEK -11,612 (vs. -12,007 YoY); for nine months, KSEK -38,203 (vs. -35,660 YoY).

• Cash at quarter-end was KSEK 13,986 (vs. 20,002 YoY); equity/assets ratio was 88.0% (vs. 92.4% YoY).

Outlook and guidance

• Focus on advancing Alpha1H to Phase III and market approval for bladder cancer.

• Continued development of non-antibiotic therapies for infections and pain, with plans to expand clinical trials to more severe infections.

• Ongoing efforts to secure and extend the IP portfolio and pursue strategic partnerships for commercialization.