OncoZenge (ONCOZ) Q1 2025 earnings summary

Executive summary

• Signed a €30.2M investment agreement with Sichuan Yangtian Bio-Pharmaceutical, pending a directed share issue in Q2–Q3 2025.

• Entered a commercialization agreement with Molteni Farmaceutici for BupiZenge™ in Europe, with milestone and royalty payments.

• BupiZenge™ is prepared for a pivotal phase III study, aiming for EU approval and commercial launch.

• Expanded global patent protection for BupiZenge™, with new PCT application potentially extending protection to 2045.

• Signed a licensing deal with Avernus Pharma for GCC region distribution.

Financial highlights

• Net sales reached SEK 2,713k in Q1 2025, up from SEK 0 in Q1 2024, driven by a milestone payment from Molteni.

• Operating income was SEK 44k, compared to a loss of SEK -2,372k in Q1 2024.

• Net income was SEK 44k, versus SEK -2,372k year-over-year.

• Cash flow for the period was SEK -2,569k, compared to SEK -2,965k in Q1 2024.

• Cash and cash equivalents at period end were SEK 1,294k, down from SEK 3,863k at 2024 year-end.

Outlook and guidance

• Financing for the phase III study depends on completion of the directed share issue, expected in Q2–Q3 2025.

• Plans to initiate the phase III clinical trial for BupiZenge™ in 2025, targeting EU approval.

• Ongoing business development for additional partnerships in other markets.