Respiratorius (RESP) Q4 2024 earnings summary

Executive summary

• Focused on evaluating a potential Phase III study for VAL001 in Australia, ultimately deemed suboptimal, but partner interest and financing commitment for future studies remain.

• Achieved a significant milestone with the approval and issuance of a key US patent for VAL001, strengthening market position.

• Conducted a rights issue raising SEK 15.2 million, with potential for an additional SEK 4 million from warrants, securing operations into Q2 2026.

• Implemented a 1:100 reverse stock split to align with regulatory changes and enhance long-term stability.

• Converted a loan to a SEK 2 million unconditional shareholder contribution to subsidiary Valcuria AB to maintain its equity.

Financial highlights

• Net sales were SEK 0 for both Q4 and the full year, unchanged from the previous year.

• Result after financial items for Q4 was SEK -1,866k (improved from -2,453k), and for the full year SEK -7,566k (improved from -7,829k).

• Earnings per share for Q4 was SEK -0.37 (vs. -0.84), and for the year SEK -1.89 (vs. -2.68).

• Cash and cash equivalents at year-end were SEK 7,646k, up from SEK 1,948k the previous year.

• No dividend proposed for the year.

Outlook and guidance

• Rights issue and potential warrant exercise secure funding through Q2 2026.

• Continued focus on advancing VAL001, including regulatory and partnership activities.