Proteomics International Laboratories (PIQ) Q1 2025 TU earnings summary

Executive summary

• Achieved world-first 94% accuracy in blood test for esophageal cancer in clinical validation study.

• PromarkerD demonstrated high accuracy in predicting chronic kidney disease in type 1 diabetes patients.

• Targeting US launch of PromarkerD in H1 CY25 and Australian launch in Q1 CY25 using hybrid go-to-market strategies.

• ISO 17025 certification for analytical services renewed, valid until February 2026.

• Appointment of Dr James Williams as independent non-executive director and deputy chair.

Financial highlights

• Cash receipts from customers for the quarter were $253,000, up from $148,000 in the previous quarter.

• Net operating cash outflow for the quarter was $1.46 million, improved from $2.26 million in the prior quarter.

• Cash reserves at 30 September were $5.10 million, with a $2 million R&D tax incentive rebate expected in Q2 FY25.

Outlook and guidance

• PromarkerD US launch targeted for H1 CY25; Australian launch in Q1 CY25.

• PromarkerEndo launch in Australia targeted for Q2 CY25, pending clinical validation.

• PromarkerEso launch in Australia targeted for Q1 CY25, following successful clinical validation.

• Estimated 3.3 quarters of funding available at quarter end, excluding expected R&D rebate.