Oryzon Genomics (ORY) Q2 2025 earnings summary

Executive summary

• Secured €52M ($61M) in financing between Dec 2024 and July 2025, including a €30M capital raise, €7M in bank loans, €13.2M EU grant, and €1.8M R&D incentives.

• Terminated convertible bonds facility with Nice & Green, increasing treasury stock to 2.37M shares.

• Advanced clinical pipeline: Phase III protocol for vafidemstat in BPD submitted to FDA; expansion of schizophrenia trial; new autism aggression trial in preparation.

• Significant progress in iadademstat oncology trials (AML, MDS, SCLC) and expansion into non-malignant hematological indications like sickle cell disease.

Financial highlights

• R&D expenses: $3.0M (Q2 2025), $5.8M (H1 2025) vs $2.3M (Q2 2024), $4.9M (H1 2024).

• G&A expenses: $1.4M (Q2 2025), $2.7M (H1 2025) vs $1.2M (Q2 2024), $2.1M (H1 2024).

• Net loss: $1.7M (Q2 2025), $3.4M (H1 2025) vs $1.5M (Q2 2024), $2.6M (H1 2024).

• Cash and equivalents: $36.5M as of June 30, 2025.

• Total assets: $162.1M (June 2025) vs $118.5M (June 2024); equity: $133.9M (June 2025) vs $92.6M (June 2024).

Outlook and guidance

• FDA approval for PORTICO-2 Phase III BPD trial expected in 2H25; trial to enroll 350 patients over 18 weeks.

• New Phase II trial for vafidemstat in autism aggression to launch, supported by EU grant.

• Expansion of schizophrenia trial into more EU countries to accelerate recruitment.

• Anticipated data updates from iadademstat oncology trials at ASH-2025 conference.

• CTA approval for iadademstat in sickle cell disease expected in September 2025.