Quia Pharma (QUIA) Q2 2024 earnings summary

Executive summary

• Achieved improved financial results with reduced losses and strengthened liquidity through a completed transaction with Rosemonkey Ltd and fulfillment of Nasdaq listing conditions.

• Focused on commercializing new health product distribution and advancing proprietary drug development projects.

• Entered a letter of intent with Net Zero Infrastructure PLC (NZI) for a potential license and sale of intellectual property, with possible significant cash inflow.

Financial highlights

• Net sales for Jan–June 2024 reached 2,360 KSEK, up from 0 KSEK year-over-year.

• Operating loss (EBIT) improved to -7,067 KSEK from -9,009 KSEK year-over-year.

• Net result after tax was -7,174 KSEK, compared to -9,837 KSEK year-over-year.

• Earnings per share (EPS) before dilution was -0.02 SEK, unchanged year-over-year.

• Cash and cash equivalents at period end were 2,578 KSEK, down from 3,388 KSEK year-over-year.

Outlook and guidance

• Expects to finalize a license agreement with NZI, potentially bringing in 13.5 MSEK and 5% of NZI shares.

• Plans to launch Omega 3 product sales via Amazon to improve short-term cash flow.

• Ongoing business development and exploration of new collaborations and product opportunities.