Lipum (LIPUM) Q3 2025 earnings summary

Executive summary

• Advanced to phase 2 clinical development for SOL-116 targeting rheumatoid arthritis, following successful phase 1 results and new scientific data supporting BSSL as a biomarker.

• Announced a proposed merger with main shareholder Flerie to secure long-term financing and access to broader resources.

• 89% participation in new employee and board stock option programs; new CFO appointed.

Financial highlights

• Operating income for Q3: 457 KSEK (109 KSEK year-over-year), mainly from grants.

• Operating loss for Q3: -13,144 KSEK (-1,632 KSEK year-over-year); net loss after financial items: -14,027 KSEK (-1,680 KSEK year-over-year).

• Cash and cash equivalents at period end: 5,627 KSEK (12,873 KSEK year-over-year).

• Cash flow from operations Q3: -7,730 KSEK (-7,258 KSEK year-over-year); financing inflow of 11,683 KSEK from loans and options.

Outlook and guidance

• Additional financing required to initiate phase 2 study in H1 2026; merger with Flerie expected to secure necessary capital.

• Ongoing scientific collaborations and clinical progress support continued development of SOL-116.