Ryvu Therapeutics (RVU) Q2 2026 earnings summary

Executive summary

• Operating revenue for H1 2026 was PLN 38.7m, down from PLN 42.4m year-over-year, mainly due to lower subsidies and sales, partially offset by higher R&D project revenue.

• Net loss for H1 2026 was PLN 25.7m, a significant improvement from PLN 58.9m in H1 2025, reflecting reduced operating costs and strategic portfolio prioritization.

• Strategic focus shifted to romaciclib (RVU120) in relapsed/refractory AML, with expansion of the RIVER-81 Phase II study and closure of the POTAMI-61 myelofibrosis study.

• Launch of Keelira, a new early clinical development services business, to diversify revenue streams.

Financial highlights

• Total assets as of June 30, 2026: PLN 182.6m, down from PLN 224.4m at year-end 2025.

• Cash and cash equivalents: PLN 50.7m (down from PLN 59.6m at year-end 2025); total cash and investments: PLN 74.7m.

• Operating expenses (excluding incentive scheme and Nodthera valuation) decreased to PLN 67.6m from PLN 95.5m year-over-year.

• EBITDA for H1 2026 was negative PLN 24.7m, improved from negative PLN 60.6m in H1 2025.

• Book value per share as of June 30, 2026: PLN 1.23 (down from PLN 4.12 at year-end 2025).

Outlook and guidance

• Adequate liquidity maintained to fund planned operations, supported by EIB financing and ongoing cost discipline.

• Future results will depend on advancing romaciclib in AML, achieving milestones in partnered programs, and expanding Keelira's client base.

• Additional non-dilutive financing options and strategic partnerships are being pursued.