Modus Therapeutics (MODTX) Q4 2024 earnings summary

Executive summary

• 2024 marked a transformational year with significant clinical progress, financing milestones, and research advances, especially for lead candidate sevuparin targeting CKD anemia, sepsis, and severe malaria.

• Initiated Phase IIa trial in CKD anemia, advanced severe malaria study (18/20 patients recruited), and presented new data at major scientific meetings.

• Secured SEK 5 million bridge financing and completed a SEK 19.4 million rights issue to support ongoing clinical programs.

Financial highlights

• Full-year loss after tax was TSEK 15,545, an improvement from TSEK 17,897 year-over-year; Q4 loss after tax was TSEK 4,713 compared to TSEK 4,069 in Q4 2023.

• Loss per share for the year was SEK 0.43 (vs. SEK 1.01 in 2023); Q4 loss per share was SEK 0.13 (vs. SEK 0.18 in Q4 2023).

• Cash flow from operating activities was negative TSEK 14,681 for the year (vs. negative TSEK 16,684 in 2023); cash equivalents at year-end were TSEK 4,379.

• Operating loss for the year was TSEK 15,838 (vs. TSEK 16,401 in 2023); Q4 operating loss was TSEK 4,846 (vs. TSEK 3,772 in Q4 2023).

• R&D expenses increased due to clinical activity, while administrative costs decreased due to efficiency improvements.

Outlook and guidance

• Focus for 2025 includes completing Part 1 of the Phase IIa CKD anemia study, securing funding for Part 2, advancing the sepsis Phase II program, and completing the severe malaria study.

• Plans to continue research collaborations and seek strategic partnerships to support clinical development.