Isofol Medical (ISOFOL) Q3 2025 earnings summary

Executive summary

• Achieved key clinical milestone with successful completion of the second dose level in the phase Ib/II study of arfolitixorin for metastatic colorectal cancer; safety committee cleared escalation to the third dose level (300 mg/m²).

• Rights issue in July was oversubscribed by 120%, raising SEK 91 million gross and SEK 84 million net, with Solasia Pharma K.K. joining as a significant shareholder and collaborator.

• Presented study design at the ESMO congress in Berlin, increasing scientific visibility and validation.

Financial highlights

• Net revenue was SEK 0 for both Q3 and the nine-month period, unchanged from the previous year.

• Q3 result: net loss of SEK -13.1 million (vs. -10.9 million in Q3 2024); nine-month result: net loss of SEK -41.4 million (vs. -30.4 million in 2024).

• Earnings per share for Q3: SEK -0.05 (vs. -0.07); for nine months: SEK -0.21 (vs. -0.19).

• Cash and cash equivalents at September 30, 2025: SEK 138.8 million (vs. SEK 104.0 million in 2024).

• Cash flow from operating activities for nine months: SEK -40.6 million; cash flow from financing activities: SEK 84.1 million due to the rights issue.

Outlook and guidance

• Adequate funding secured for planned operations over the next 12 months.

• Next steps include completion of the third dose level in the ongoing clinical study and planned expansion to Japan in collaboration with Solasia.

• Phase II study in Japan expected to initiate next year.