Saniona (SANION) Q2 2026 earnings summary

Executive summary

• Internal development focus sharpened, prioritizing SAN2668 (pediatric epilepsy) and SAN2465 (major depressive disorder), both targeting Phase 1 trials by year-end 2026.

• Partnered programs advanced, with Jazz Pharmaceuticals preparing SAN2355 for Phase 1 and Acadia Pharmaceuticals expanding ACP-711 Phase 1; milestone payments expected upon trial initiations.

• AstronauTx exercised its option for ATX0926, resulting in a $5M share-based income and eligibility for up to $172M in milestones and royalties.

• Strong cash position supports clinical advancement and ongoing collaborations.

Financial highlights

• Q2 2026 revenue was SEK 4.5M (down from SEK 9.3M YoY); H1 2026 revenue SEK 9.2M (down from SEK 19.1M YoY).

• Q2 operating loss widened to SEK -60.3M (from SEK -25.9M YoY); H1 operating loss SEK -116.8M (from SEK -42.4M YoY).

• Net loss for Q2 was SEK -58.3M (from SEK -22.2M YoY); H1 net loss SEK -104.4M (from SEK -3.3M YoY).

• Cash and cash equivalents at June 30, 2026: SEK 486.3M (up from SEK 308.2M YoY).

• Basic and diluted EPS for H1: SEK -0.76 (from SEK -0.03 YoY).

Outlook and guidance

• SAN2668 and SAN2465 prioritized for clinical entry by year-end 2026.

• Continued focus on advancing partnered programs and maintaining financial discipline.

• Ambition to partner at least one internal asset in the near to midterm.