OncoZenge (ONCOZ) Q3 2025 earnings summary

Executive summary

• Secured SEK 46.7 million in funding for the European Phase III trial of BupiZenge™, including investments from Yangtian Bio-Pharmaceutical, milestone payments from Molteni Farmaceutici, and a convertible note from Linc AB.

• Manufacturing and site selection for the Phase III trial are underway, with first patient enrollment expected in Q2 2026.

• Strategic partnerships established with Molteni Farmaceutici (Europe) and Avernus Pharma (GCC region) for commercialization.

• Strengthened sponsor team and operational readiness for the pivotal trial, including collaborations with Meribel Pharma and LINK Medical.

Financial highlights

• Q3 2025 net sales: SEK 0 thousand (Q3 2024: 0); operating result: SEK -3,479 thousand (Q3 2024: -1,755); EPS: SEK -0.28 (Q3 2024: -0.15).

• Jan–Sep 2025 net sales: SEK 2,664 thousand (Jan–Sep 2024: 0); operating result: SEK -6,040 thousand (Jan–Sep 2024: -6,184); EPS: SEK -0.51 (Jan–Sep 2024: -0.53).

• Cash flow for Jan–Sep 2025: SEK 7,727 thousand (Jan–Sep 2024: -6,797); cash and cash equivalents at Sep 30, 2025: SEK 11,590 thousand.

• Equity ratio at Sep 30, 2025: 46.90% (Dec 31, 2024: 87.02%).

Outlook and guidance

• Fully funded to initiate and execute the European Phase III trial, with first patient enrollment targeted for Q2 2026.

• Remaining investment tranches from Yangtian Bio-Pharmaceutical expected in Q4 2025 and Q1 2026.

• Anticipates milestone payment from Molteni Farmaceutici upon EMA trial application approval, not earlier than March 2026.

• Ongoing business development for China and US market entry, and label expansion opportunities.