SpectraCure (SPEC) Q1 2025 earnings summary

Executive summary

• Focus on developing Q-PRO®, a patented system for focal, minimally invasive prostate cancer treatment using PDT and Verteporfin, with ongoing and planned clinical studies in North America and Europe.

• Key milestones in Q1 2025: positive interim results from a clinical study, patent approval in Japan, ethics approval in Cologne, and acquisition of a KTH patent application.

• Announced a rights issue of ~84 MSEK and bridge loan post-period to secure funding for ongoing clinical activities.

Financial highlights

• Q1 2025 net loss after tax: -6,316 TSEK (vs. -5,986 TSEK Q1 2024); EPS: -0.07 SEK (-0.06 SEK).

• Operating loss: -6,189 TSEK (-5,642 TSEK); cash flow from operations: -5,648 TSEK (-3,799 TSEK).

• Cash and cash equivalents at March 31, 2025: 8,087 TSEK (48,150 TSEK); equity: 100,538 TSEK (123,873 TSEK); equity ratio: 87% (88%).

• Total investments in development work: 95,771 TSEK (81,868 TSEK); patent portfolio: 497 TSEK (1,255 TSEK).

Outlook and guidance

• Existing liquidity is insufficient for clinical study needs over the next 12 months; company expects to secure additional funding.

• Without new capital, operations can be funded until summer 2025; rights issue and bridge loan planned to support ongoing activities.