SpectraCure (SPEC) Q3 2024 earnings summary

Executive summary

• Focus during Q3 2024 was on initiating a new clinical study for primary localized prostate cancer, targeting a larger market segment and expanding patient recruitment.

• Strategic planning included discussions on the future launch of the Q-PRO® system and potential industrial partnerships for upcoming phase three studies.

• Ongoing clinical studies for recurrent prostate cancer continue, with recent treatments showing positive safety and efficacy signals.

Financial highlights

• Q3 2024 result after tax was -6,279 TSEK, compared to -4,726 TSEK in Q3 2023; EPS was -0.06 SEK (-0.05 SEK).

• Nine-month result after tax was -18,359 TSEK (-16,068 TSEK year-over-year); EPS -0.19 SEK (-0.17 SEK).

• Cash flow from operating activities for Q3 was -3,676 TSEK (-3,776 TSEK), and for nine months -16,060 TSEK (-16,677 TSEK).

• Total cash at period end was 27,817 TSEK (63,017 TSEK year-over-year).

• Equity at period end was 111,501 TSEK (134,232 TSEK year-over-year); equity ratio 88% (90%).

Outlook and guidance

• The company expects increased costs as the new clinical study for primary prostate cancer begins, requiring additional operating financing.

• Current liquidity is not sufficient for clinical study needs over the next twelve months; further funding is likely needed before summer 2025.

• Management is exploring both Swedish and international financing options and potential industrial partnerships.