PharmaLundensis (PHAL) Q3 2024 earnings summary

Executive summary

• Focus on developing Phal-501, a drug that binds and eliminates heavy metals, now shown to bind cadmium, opening new market potential.

• Ongoing pilot toxicology studies on mice for Phal-501; preparations for clinical trials in chronic bronchitis and COPD.

• Significant interest in Minievaporator from international customers; discussions may lead to sales or licensing.

• Completed a rights issue raising SEK 4.0 million (44.3% subscription rate), netting SEK 2.83 million after costs.

• CEO acquired 4.4 million shares, mainly in the rights issue.

Financial highlights

• Net sales were SEK 0 for both Q3 and the nine-month period (unchanged year-over-year).

• Result after financial items for Q3: SEK -1,028,972 (vs. -1,071,147); nine months: SEK -2,651,818 (vs. -2,868,207).

• Earnings per share for Q3: SEK -0.02 (vs. -0.03); nine months: SEK -0.05 (vs. -0.08).

• Equity ratio at September 30, 2024: 38.3%.

• Cash and bank at period end: SEK 100,049.

Outlook and guidance

• Existing capital expected to last until spring 2025; further funding needed via Minievaporator commercialization or new share issue.

• First clinical study with Phal-501 planned for 2025 on chronic bronchitis patients.

• Ongoing discussions for Minievaporator sales/licensing; no formal agreements yet.