Poltreg (PTG) Q2 2025 earnings summary

Executive summary

• Report covers the six months ended June 30, 2025, prepared under IFRS as adopted by the EU.

• Focus on advanced clinical-stage TREG cell therapies for autoimmune diseases, notably type 1 diabetes and multiple sclerosis.

• No group structure as of the report date; new US subsidiary Immuthera Inc. established in June 2025.

Financial highlights

• Revenue from sales: 100k PLN for H1 2025, unchanged year-over-year.

• Net loss: (13,968)k PLN for H1 2025, compared to (8,298)k PLN for H1 2024.

• Operating loss: (14,162)k PLN for H1 2025, versus (9,132)k PLN for H1 2024.

• Net cash used in operating activities: (13,902)k PLN for H1 2025, versus (5,039)k PLN for H1 2024.

• Total assets: 87,313k PLN as of June 30, 2025, down from 112,441k PLN a year earlier.

• Equity: 55,455k PLN as of June 30, 2025, down from 79,444k PLN as of June 30, 2024.

• Basic loss per share: (3.00) PLN for H1 2025, compared to (1.78) PLN for H1 2024.

Outlook and guidance

• FDA pre-IND meeting for PTG-007 therapy yielded positive feedback, supporting US clinical trial plans.

• First patient dosed in phase II PreTreg clinical trial for pre-symptomatic type 1 diabetes.

• GMP certificate for sterile and cell therapy products obtained in July 2025.

• Conditional patent granted in South Korea for CAR-TREG therapies in neurodegenerative diseases.