SpectraCure (SPEC) Q3 2025 earnings summary

Executive summary

• Achieved significant clinical progress in both recurrent and primary localized prostate cancer studies, with promising safety and efficacy results, including tumor necrosis and reduced PSA levels in treated patients.

• Secured a key agreement with Cheplapharm for access to Verteporfin, ensuring drug supply for planned phase 3 studies in Europe.

• Strengthened leadership with new CEO and CTO appointments, and continued to build strategic partnerships and collaborations.

Financial highlights

• Result after tax for Q3 2025 was -35,006 TSEK, compared to -6,279 TSEK in Q3 2024, mainly due to a 27,588 TSEK write-down of older capitalized development costs.

• Cash flow from operating activities for Q3 2025 was -18,067 TSEK, compared to -3,676 TSEK in Q3 2024.

• Cash and cash equivalents as of September 30, 2025, were 25,508 TSEK, down from 27,817 TSEK a year earlier.

• Net proceeds from a new share issue amounted to 41,274 TSEK during the nine-month period.

Outlook and guidance

• The company expects increased costs as new clinical studies for primary prostate cancer commence, with a need for additional funding to support ongoing and future studies.

• Current liquidity is expected to cover operations until Q2 2026, with further capital potentially available from options in January 2026.