Pila Pharma (PILA) Q4 2025 earnings summary

Executive summary

• Refocused development strategy in 2025 to position TRPV1 antagonist XEN-D0501 as a novel oral treatment for obesity, with additional plans for diabetes and pain indications.

• Successfully completed an oversubscribed rights issue, raising SEK 29.9 million before costs, supporting preclinical and clinical development.

• Initiated preclinical obesity studies and advanced preparations for clinical trials in obesity, diabetes, and erythromelalgia.

• Expanded Scientific Advisory Board and strengthened leadership shareholding.

Financial highlights

• Operating income for 2025 was TSEK 1,127, up from TSEK 790 year-over-year.

• Operating result (EBIT) for 2025 was TSEK -7,894, compared to TSEK -8,109 in 2024.

• Net loss for 2025 was TSEK -16,863, widening from TSEK -11,241 in 2024.

• Earnings per share for 2025 were SEK -0.62, compared to SEK -0.30 in 2024.

• Cash at year-end was TSEK 15,897, up from TSEK 4,892 at the end of 2024.

Outlook and guidance

• Cash runway extends into 2027, enabling continued development in obesity, diabetes, and erythromelalgia.

• Next steps include submission of clinical trial applications for obesity and erythromelalgia in early 2026.

• Focus remains on generating human proof-of-concept data to attract pharma partnerships.