Nanexa (NANEXA) Q1 2025 earnings summary

Executive summary

• Focused resources on NEX-22, a monthly depot of liraglutide for type 2 diabetes, and evaluation of PharmaShell with Novo Nordisk.

• Positive clinical results for NEX-22, with good tolerability and minimal side effects at higher doses.

• Increased business development activities, including licensing discussions and conference participation.

• Financing round of 55 MSEK completed, supporting operations through Q1 2026.

• Appointment of Bridget Lacey as Chief Business Officer to strengthen business development.

Financial highlights

• Turnover for Q1 2025 was SEK 2,877 thousand, down from SEK 7,754 thousand year-over-year.

• Operating profit (EBIT) was SEK -8,213 thousand, compared to SEK -3,363 thousand in Q1 2024.

• Net loss after tax was SEK -8,987 thousand, versus SEK -2,823 thousand in the prior year.

• Earnings per share were SEK -0.06, compared to SEK -0.02 year-over-year.

• Cash flow for the period was SEK 38,924 thousand, with cash and equivalents at SEK 49,216 thousand at quarter-end.

Outlook and guidance

• Current working capital and cash, including recent capital injection, are sufficient to finance operations for the next 12 months.

• Anticipates significant value creation from NEX-22 and ongoing PharmaShell evaluations, with potential for new licensing agreements.