Oryzon Genomics (ORY) Q2 2026 earnings summary

Executive summary

• H1 2026 net loss was €1.368m with no business revenue; R&D investment rose to €10.043m, including €8.727m of capitalized development costs.

• Iadademstat showed positive AML data, including 100% ORR in first-line patients; a €12m post-period capital increase and conditional €25m FIS investment added financing support.

Financial highlights

• H1 operating loss was €3.125m versus €2.933m in H1 2025; net loss was €1.368m versus €1.545m.

• Revenue was nil; own-work capitalized was €8.692m versus €4.220m, and operating grants recognized were €0.609m versus €0.026m.

• H1 R&D investment was €10.043m, including €8.727m capitalized development, €0.633m uncapitalized development and €0.683m research.

• At June 30, total assets were €140.615m, equity €119.702m and cash and equivalents €14.682m.

• Operating cash use was €1.354m; investing outflow was €7.865m and financing outflow €2.231m. Cash declined €13.672m from year-end.

Outlook and guidance

• Development is expected to continue across clinical-stage iadademstat and vafidemstat programs and earlier-stage research.

• PORTICO-2, a planned 350-patient Phase III vafidemstat study, is being refined with additional FDA-requested support; resubmission is targeted for late 2026 or early 2027.

• EVOLUTION continued recruiting in Spain and four other European countries; ORY-4001 advanced toward first-in-human readiness, with repeat-dose toxicology and GMP preparations underway.

• Final ALICE-2 and FRIDA data were expected by year-end, with potential FDA engagement on a registrational AML study in 2027.