Lipum (LIPUM) Q4 2024 earnings summary

Executive summary

• Completed phase 1 study for SOL-116, showing strong safety and tolerability in RA patients and healthy volunteers, with no serious adverse events and high specificity for BSSL.

• Preparing for phase II clinical trial, aiming to include first patients in H1 2026; focus remains on chronic inflammatory diseases, especially RA.

• Received grants totaling SEK 7.8 million from SweLife, Eurostars, and Vinnova to support biomarker research and companion diagnostic development.

• Raised SEK 73 million in a rights issue and secured a SEK 20 million loan facility to support ongoing and future development.

Financial highlights

• Operating loss for 2024 was SEK -55.2 million, compared to SEK -37.3 million in 2023, reflecting increased R&D and production costs.

• Result after financial items for 2024 was SEK -55.5 million (2023: SEK -37.2 million).

• Cash and cash equivalents at year-end were SEK 6.6 million (2023: SEK 10.2 million).

• Cash flow from operating activities for 2024 was SEK -86.5 million (2023: SEK -36.1 million).

• No net sales; income consists mainly of grants and currency gains.

Outlook and guidance

• Additional financing required in spring 2025 to initiate phase II study for SOL-116.

• Management is confident in securing necessary capital for planned activities.

• Focus remains on advancing SOL-116 and expanding understanding of its use in chronic inflammatory diseases.