Poltreg (PTG) Q1 2025 earnings summary

Executive summary

• Focus on developing innovative TREG-based therapies for autoimmune diseases, with advanced clinical programs in type 1 diabetes and multiple sclerosis.

• Strategic partnerships and grant funding support ongoing R&D and expansion into the US market.

• Pipeline includes next-generation therapies (CAR-TREG, TCR-TREG, antigen-specific TREGs) and immunomodulation in vivo.

Financial highlights

• Q1 2025 revenue: 0 PLN (100k PLN in Q1 2024), due to lack of hospital exemption sales.

• Operating loss: 5,703k PLN (3,819k PLN in Q1 2024); net loss: 5,471k PLN (3,351k PLN in Q1 2024).

• Cash at period end: 40,697k PLN (57,464k PLN at Q1 2024).

• Total assets: 96,850k PLN (118,110k PLN at Q1 2024); equity: 63,863k PLN (84,278k PLN at Q1 2024).

• Grants and subsidies recognized: 1,796k PLN (129k PLN in Q1 2024).

Outlook and guidance

• Key short-term goals: sign at least one partnering agreement, start phase II/III trial in type 1 diabetes, and expand US presence.

• Long-term goals: launch TREG 2.0 clinical trials, commercialize therapies for type 1 diabetes and MS, and maintain leadership in TREG-based therapies.

• Sufficient cash for planned activities, but future clinical progress depends on further grant and partnership funding.