Hamlet BioPharma (HAMLET) Q4 2025 earnings summary

Executive summary

• Completed three successful Phase II studies in cancer and infection, with Alpha1H showing strong efficacy in bladder cancer and immunotherapy matching antibiotics in recurrent cystitis and pain syndromes.

• Secured drug production for Phase III, expanded patent portfolio to 147 granted patents, and raised SEK 26.8M in December 2024 and up to SEK 140M post-period via share issues.

• Engaged in strategic partnerships, including a licensing agreement with Linnane Pharma for Bamlet, and advanced commercialization plans for late-stage assets.

• Leadership changes included appointing Catharina Svanborg as CEO and Gabriela Godaly as Chairperson.

Financial highlights

• Net sales remained at KSEK 0 for both Q4 and the full year, reflecting pre-revenue status.

• Q4 EBITDA was KSEK -15,159 (vs. -9,168 prior year); full-year EBITDA was KSEK -44,663 (vs. -32,929).

• Q4 net result was KSEK -16,998 (vs. -11,040); full-year net result was KSEK -52,657 (vs. -39,822).

• Cash at period end was KSEK 10,735 (vs. 23,076 prior year); equity/assets ratio was 84.9% (vs. 94.2%).

Outlook and guidance

• Plans to initiate Phase III trials for Alpha1H in bladder cancer, pending final FDA protocol agreement.

• Focus on global commercialization, strategic partnerships, and advancing preclinical pipeline.

• Continued investor engagement through digital meetings and press conferences.