Oncosil Medical (OSL) Q4 2024 TU earnings summary

Executive summary

• Q4 FY24 saw initial commercial treatments in Austria and Türkiye, and the first UK patient treated in the TRIPP-FXX study.

• Positive human study results showed OncoSil™ increases pancreatic tumor vascularity, potentially enhancing chemotherapy efficacy.

• Signed a 3-year exclusive distribution agreement for Saudi Arabia, expanding Middle East market reach.

• Raised $7.2 million in new equity during the quarter, with an additional $2.7 million post-quarter.

• 5th patient treated in the ongoing PANCOSIL clinical trial; protocol amendment aims to improve patient comfort and recruitment.

Financial highlights

• Q4 revenue receipts were $0.079 million; combined Q3 and Q4 revenue was $0.171 million, up 136% year-over-year.

• Cash and equivalents at 30 June 2024 totaled $4.509 million, up from $2.930 million at 31 March 2024.

• Net cash used in operating activities for Q4 was $3.366 million; staff and R&D costs made up over 65% of this.

• $5.415 million raised via entitlement offer and $0.331 million committed in June, received in July.

• Estimated quarters of funding available at quarter end was 1.34.

Outlook and guidance

• Management expects commercialization in new markets to drive growth over the next 12 months.

• Focus remains on expanding regulatory approvals and indications, with updates anticipated in coming months.

• Board expects to continue operations and meet objectives, supported by recent and potential future capital raises.