Spago Nanomedical (SPAGO) Q4 2024 earnings summary

Executive summary

• Focus shifted to prioritizing the Tumorad program, with all internal preclinical discovery activities terminated and resources reallocated to clinical development and organizational changes.

• All patients in the second group of the Tumorad-01 Phase I/IIa study were dosed, with DMC analysis expected in Q1 2025; recruitment continues in parallel.

• SpagoPix program clinical results accepted for publication, supporting ongoing business development and partnership efforts.

Financial highlights

• Net sales for Q4 2024 were KSEK 617, down from KSEK 731 in Q4 2023; full-year net sales were KSEK 1,911, up from KSEK 1,203 year-over-year.

• Quarterly loss was KSEK -7,830 (Q4 2023: -9,417); full-year loss was KSEK -32,509 (2023: -42,223).

• Operating expenses for Q4 were KSEK -10,223 (Q4 2023: -12,060); full-year operating expenses were KSEK -40,626 (2023: -49,005).

• Cash and cash equivalents at year-end were KSEK 32,470 (2023: 45,217).

• Earnings per share for Q4 were SEK -0.02 (Q4 2023: -0.08); full-year EPS was SEK -0.11 (2023: -0.43).

Outlook and guidance

• Strategic focus on Tumorad expected to accelerate clinical milestones and optimize resource allocation.

• Continued search for partners to advance SpagoPix to the next clinical phase.

• No dividend proposed for the financial year 2024.