Xintela (XINT) Q4 2024 earnings summary

Executive summary

• Achieved key milestone with all patients completing 18-month follow-up in XSTEM osteoarthritis study; interim analysis to be reported by end of Q1 2025.

• Continued recruitment in leg ulcer study; five patients dosed, no safety issues observed.

• Targinta oncology project progressing slowly due to financing; seeking partners for further development.

• Collaboration with Region Östergötland for GMP process development and burn treatment study ongoing.

• License and collaboration discussions with EQGen Biomedical for EQSTEM in horses advancing.

Financial highlights

• Q4 2024 income: TSEK 1,090 (78); full year 2024 income: TSEK 4,215 (78).

• Q4 2024 loss before tax: TSEK -11,712 (-12,175); full year 2024 loss before tax: TSEK -41,534 (-58,367).

• Loss per share for 2024: SEK -0.07 (-0.13).

• Cash and cash equivalents at year-end: TSEK 16,680 (7,809).

• Significant increase in other liabilities to TSEK 24,586 (4,214), mainly due to a short-term loan from Flerie AB.

Outlook and guidance

• Interim analysis of XSTEM osteoarthritis study to be communicated by end of Q1 2025; highest dose group to be followed for 24 months.

• Leg ulcer study may close early to expedite next phase, leveraging current safety data.

• Active pursuit of partnerships and licensing for XSTEM and Targinta projects.

• Financing strategy focused on revenue from collaborations, licensing, and CDMO activities.