Respiratorius (RESP) Q2 2024 earnings summary

Executive summary

• No revenue generated in H1 2024; net loss after financial items was -3,571 KSEK, an improvement from -4,094 KSEK year-over-year.

• Operations secured for two years following a rights issue that raised approximately 14.3 MSEK before costs.

• Patent for VAL001 formulation approved in the US, granting at least 20 years of market exclusivity from 2016.

• Focus remains on securing a partner for VAL001, with a commitment from one party to co-finance a phase III study.

Financial highlights

• Net sales were 0 KSEK for both Q2 and H1 2024, unchanged year-over-year.

• Net loss after financial items for Q2 was -1,810 KSEK (vs. -1,760 KSEK Q2 2023); H1 net loss was -3,571 KSEK (vs. -4,094 KSEK H1 2023).

• Earnings per share for Q2 and H1 2024 were -0.01 SEK, unchanged from the prior year.

• Cash and cash equivalents at period end were 1,285 KSEK, down from 3,816 KSEK a year earlier.

• Cash flow from operations in H1 2024 was -2,113 KSEK, improved from -2,808 KSEK in H1 2023.

Outlook and guidance

• Financial position enables continued operations and regulatory development for at least two years.

• Ongoing efforts to secure a licensing or partnership agreement for VAL001, with positive signals from potential partners.