PharmaLundensis (PHAL) Q2 2024 earnings summary

Executive summary

• Net sales remained at 0 SEK for both the quarter and half-year; continued pre-revenue phase.

• Loss after financial items improved to -1,622,846 SEK for H1 2024 from -1,797,060 SEK year-over-year.

• Major milestone reached with completion of Phal-501 synthesis, enabling clinical study preparations.

• Ongoing discussions for Minievaporator rentals and licensing of "zero-concentrate technology".

• Unit rights issue of approximately 9.1 MSEK planned for September 2024 to fund clinical and commercial activities.

Financial highlights

• Net sales: 0 SEK for Q2 and H1 2024, unchanged year-over-year.

• Loss after financial items: -404,532 SEK for Q2 2024 (improved from -999,845 SEK), -1,622,846 SEK for H1 2024 (improved from -1,797,060 SEK).

• EPS: -0.01 SEK for Q2 2024 (vs. -0.03 SEK), -0.04 SEK for H1 2024 (vs. -0.05 SEK).

• Equity ratio at 19% as of June 30, 2024.

• Cash and bank: 668,850 SEK at period end, down from 2,498,021 SEK at year-end 2023.

Outlook and guidance

• First clinical study with Phal-501 for chronic bronchitis targeted for 2025.

• Proceeds from upcoming rights issue to support clinical trial preparations and commercialization efforts.

• Continued focus on Minievaporator market introduction and licensing of zero-concentrate technology.