Vivesto (VIVE) Q3 2024 earnings summary

Executive summary

• Focused on advancing Paccal Vet and Cantrixil programs, with cost reductions and operational streamlining.

• Entered a collaboration with Zhida Pharma for potential licensing of Apealea in China and neighboring regions, with milestone payments up to $5.85 million and sales royalties.

• Achieved Limited Market classification for Paccal Vet in the EU, expediting regulatory approval and extending market exclusivity.

Financial highlights

• Net sales were SEK 0 thousand for both Q3 and the nine-month period (unchanged year-over-year).

• Operating loss for Q3 was SEK -10,812 thousand (improved from -16,696), and for the nine-month period SEK -31,007 thousand (improved from -67,276).

• Net loss after tax for Q3 was SEK -10,260 thousand (improved from -15,816), and for the nine-month period SEK -29,043 thousand (improved from -64,380).

• Earnings per share for Q3 were SEK -0.02 (-0.03), and for the nine-month period SEK -0.05 (-0.12).

• Cash and short-term investments at period end totaled SEK 40,885 thousand (down from 83,807).

Outlook and guidance

• Interim results from the Paccal Vet pilot study are expected in early 2025.

• Additional preclinical and clinical data from Cantrixil and Docetaxel micellar programs anticipated by year-end 2024 and early 2025.

• Current funds are expected to support operations through 2026.