SpectraCure (SPEC) Q2 2024 earnings summary

Executive summary

• Focus on developing Q-PRO®, a patented system for focal, minimally invasive prostate cancer treatment using PDT, targeting both recurrent and primary localized cases.

• Clinical studies ongoing with leading clinics in North America and Europe; new study for primary localized prostate cancer to start soon.

• Q-PRO® aims to offer fewer side effects and improved patient quality of life compared to current treatments.

Financial highlights

• Q2 2024 net loss after tax: -6,093 TSEK (vs. -5,976 TSEK Q2 2023); EPS: -0.06 SEK (unchanged year-over-year).

• H1 2024 net loss after tax: -12,080 TSEK (vs. -11,342 TSEK H1 2023); EPS: -0.12 SEK (unchanged year-over-year).

• Q2 2024 operating cash flow: -8,584 TSEK (vs. -8,838 TSEK Q2 2023); H1 2024: -12,384 TSEK (vs. -12,901 TSEK H1 2023).

• Cash and cash equivalents at June 30, 2024: 35,867 TSEK (vs. 69,701 TSEK June 30, 2023).

• Equity at June 30, 2024: 117,780 TSEK; equity ratio: 89% (vs. 90% prior year).

Outlook and guidance

• New clinical study for primary localized prostate cancer expected to start soon, broadening recruitment and market potential.

• Focus remains on achieving market approval for Q-PRO® in North America and Europe following successful clinical trials.