Oncopeptides (ONCO) Q2 2026 earnings summary

Executive summary

• Net sales in Q2 2026 reached SEK 31.1 million, up 62% year-over-year, with H1 sales totaling SEK 56.5 million, a 74% increase year-over-year.

• Cash position at quarter-end was SEK 157.6 million, strengthened by a SEK 167 million rights issue in March.

• Achieved key commercial, clinical, and regulatory milestones, including EMA submission for label expansion, new partnerships, and first patient enrolled in glioblastoma study.

• Distribution agreement with Salus Group enables earlier CEE market entry, with first list price for Pepaxti in Slovenia.

• Over 1,000 patients treated in Europe since EMA approval, with commercial momentum in Germany, Italy, and Spain.

Financial highlights

• Gross margin for H1 was 98%, with Q2 gross profit at SEK 30.1 million.

• EBIT loss improved to SEK 86.2 million for H1, and Q2 operating loss was SEK 48.7 million.

• Operating expenses decreased 2% year-over-year for H1; Q2 operating expenses were SEK 81.1 million.

• Net loss for Q2 was SEK 54.7 million, with EPS at SEK -0.14.

• Cash and cash equivalents at period end: SEK 157.6 million.

Outlook and guidance

• On track to achieve positive cash flow during 2027, supported by current cash position and commercial progress.

• Full-year operating expenses expected to be around SEK 300 million, similar to 2025.

• CHMP opinion on Pepaxti label expansion anticipated between September and November 2026.

• Immediate German launch planned upon EC approval, with expanded addressable market.