Nykode Therapeutics (NYKD) Q2 2026 earnings summary

Executive summary

• Abi-suva is advancing in a randomized phase II Abili-T trial for first-line HPV16-driven head and neck cancer, with interim results expected in 2027 and enrollment expanding across Europe.

• VB10.NEO, an individualized neoantigen therapy, is positioned as a leading, unencumbered asset with a simplified manufacturing process, strong clinical validation, and broad IP protection.

• The company maintains a strong cash position of USD 44.8 million as of June 30, 2026, supporting ongoing clinical programs.

• Recent positive phase III data from Moderna/MSD and other peers has validated the cancer vaccine field and increased industry interest.

• The tolerance platform for autoimmune diseases shows strong preclinical efficacy and is advancing toward clinical development.

Financial highlights

• Net loss of USD 7.2 million for Q2 2026, compared to a net profit of USD 0.9 million in Q2 2025.

• Employee benefit expenses decreased to USD 2.3 million year-over-year, reflecting organizational reductions.

• Other operating expenses increased to USD 4.1 million, driven by higher clinical activity.

• Cash and cash equivalents stood at USD 44.8 million as of June 30, 2026.

• Equity ratio remained strong at 93% as of June 30, 2026, with total equity of USD 80.4 million.

Outlook and guidance

• Focus remains on executing the Abili-T trial, expanding sites and countries, and maintaining engagement for timely interim data in 2027.

• Cash runway extends into 2028, potentially to 2029 if the pending tax case is resolved favorably.

• Continued maturation of the asset platform and anticipation of further peer data in the cancer vaccine field.

• Outcome of the tax case is anticipated in H2 2026.