Poltreg (PTG) Q3 2025 earnings summary

Executive summary

• Focused on developing innovative Treg cell therapies for autoimmune diseases, with leading clinical programs in type 1 diabetes and multiple sclerosis.

• Maintains a strong R&D pipeline, including next-generation Treg therapies and mRNA-based approaches.

• Received significant grants and expanded international collaborations, including a new US subsidiary.

Financial highlights

• Revenue for the nine months ended 30 September 2025 was 350k PLN, flat year-over-year.

• Net loss for the period was 20,033k PLN, compared to 14,179k PLN in the prior year.

• Operating expenses increased to 26,454k PLN, driven by higher R&D, amortization, and utility costs.

• Cash and equivalents at period end totaled 24,690k PLN, down from 45,655k PLN at year-end 2024.

• Equity decreased to 49,480k PLN from 69,234k PLN at year-end 2024.

Outlook and guidance

• Strategic focus on partnering with major pharma for commercialization and further clinical development.

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

• Key upcoming milestones include patient recruitment in phase II trials and IND submission in the US.