Nanexa (NANEXA) Q2 2024 earnings summary

Executive summary

• Initiated first clinical study in lead project NEX-22 after EMA approval; first patient dosed in June 2024.

• Collaboration with Novo Nordisk on PharmaShell system progressing as planned, aiming for preclinical evaluation.

• Streamlined operations and reduced staffing to focus on key priorities and cost savings.

Financial highlights

• Q2 2024 turnover: SEK 5,657k (7,655k); H1 2024 turnover: SEK 13,411k (15,828k), both down year-over-year.

• Q2 2024 EBIT: SEK -6,124k (-10,067k); H1 2024 EBIT: SEK -9,487k (-18,770k), showing reduced losses.

• Q2 2024 net loss: SEK -6,012k (-9,951k); H1 2024 net loss: SEK -8,835k (-18,553k).

• Cash flow for H1 2024: SEK -23,857k (-42,824k); cash and equivalents at period end: SEK 41,311k (38,358k).

• Earnings per share H1 2024: SEK -0.07 (-0.31); Q2 2024: SEK -0.04 (-0.16).

Outlook and guidance

• Board notes current working capital and cash are insufficient for the next 12 months but sees opportunities for additional financing through partner agreements or external capital.

• Focus remains on finalizing NEX-22 study and delivering on partner projects, especially with Novo Nordisk.