Spago Nanomedical (SPAGO) Q4 2024 earnings summary

Executive summary

• Focus shifted to Tumorad clinical development, with all resources allocated to this program and internal preclinical research discontinued.

• Second patient group in Tumorad-01 Phase I/IIa study fully dosed; safety committee analysis expected Q1 2025.

• SpagoPix program to continue only via partnerships or external funding; recent clinical results accepted for publication.

• No dividend proposed for 2024.

Financial highlights

• Net sales for Q4: 617 KSEK (731 KSEK); full year: 1,911 KSEK (1,203 KSEK).

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

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

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

• Cash flow from operations for the year: -34,668 KSEK (-44,909 KSEK).

Outlook and guidance

• Tumorad remains the top priority, with accelerated patient recruitment and expanded clinical sites.

• SpagoPix development to proceed only with external partners or funding.

• Company aims to reach key clinical milestones in 2025.