Herantis Pharma (HRNTS) H1 2026 earnings summary

Executive summary

• HER-096 is advancing to a phase II trial as a potential first disease-modifying therapy for Parkinson's, supported by strong phase I/1b safety, biomarker, and translational data in both patients and healthy volunteers.

• The phase II trial will be a randomized, placebo-controlled, double-blind study in early-stage Parkinson's, leveraging digital monitoring and biomarkers to assess efficacy.

• HER-096 leverages CDNF biology for a broad, multimodal mechanism of action with neurorestorative potential, addressing a major unmet need in Parkinson's where no disease-modifying therapies exist.

• The company operates in a large and growing market with high unmet need, as current therapies only address symptoms and lose effectiveness over time.

• Positive FDA feedback, new leadership appointments, and collaborations for digital biomarker integration and CRO support have strengthened operational readiness.

Financial highlights

• Operating expenses and cost base remained flat year-over-year, with spending focused on phase II preparations, biomarker development, and investor relations.

• Net loss for 1H 2026 was EUR 3.3 million, compared to EUR 3.2 million in 1H 2025.

• Cash and securities at June 30, 2026, ranged from EUR 3.5 million to EUR 4.6 million, with equity at EUR -0.7 million.

• Long-term debt increased to EUR 3.4 million due to additional research and foundation funding.

• EUR 4.2 million raised via share issue and EUR 8.0 million Horizon Europe grant secured for phase II trial.

Outlook and guidance

• Clinical trial application for phase II is expected by year-end 2026, with first patient enrollment in 1H 2027 and interim efficacy data in 1H 2029.

• Cash runway extends until end of 1H 2027, but additional capital is required to launch and complete the phase II trial.

• R&D expenses and cash burn are expected to increase as phase II activities ramp up.

• Active discussions are ongoing with potential pharma partners and investors for additional funding and development partnerships.