Molecure (MOC) Q1 2026 earnings summary

Executive summary

• Focused on advancing key clinical projects OATD-01 (phase II, KITE study) and OATD-02 (phase I), with OATD-01 reaching a milestone of 30 randomized patients for interim analysis and OATD-02 escalating to the highest planned dose.

• Operational restructuring included halting or delaying early-stage preclinical programs and reducing headcount to lower cost base, reallocating resources to the most promising assets.

• Raised over PLN 20 million through a series K share issue in March 2026, securing funding for core projects.

• Achieved promising early results in AI-driven drug discovery platform.

Financial highlights

• Q1 2026 operating revenue: PLN 0.13 million (vs. PLN 0.6 million in Q1 2025), mainly from grants.

• Net loss: PLN -4.06 million (improved from PLN -5.03 million in Q1 2025).

• Operating cash flow: PLN -2.07 million (improved from PLN -25.6 million in Q1 2025).

• R&D assets (unfinished development): PLN 75.98 million (up from PLN 70.40 million at 2025 year-end).

• Cash at period end: PLN 8.13 million.

Outlook and guidance

• Near-term results depend on progress in OATD-01, OATD-02, and AI platform.

• Key 2026 goals: interim and final results from KITE phase II, determination of pharmacologically active dose in OATD-02, and potential partnering agreements.

• Additional PLN 36 million needed to complete both clinical trials and early-stage projects; funding to be sourced from licensing, grants, share issues, or debt.