Xspray Pharma (XSPRAY) Q1 2026 earnings summary

Executive summary

• Two NDA applications (DasynocⓇ and NilopkiⓇ) under FDA review, with PDUFA dates set for August 25, 2026, and June 18, 2026, respectively.

• CEO transition announced: Blake Leitch to succeed Per Andersson, who will focus on scientific leadership.

• Strategic partnership with EVERSANA to support US commercial launch and market access.

• Rights issue and over-allotment issue raised SEK 113 million, significantly oversubscribed.

Financial highlights

• Q1 2026 net sales were SEK 0 thousand (unchanged year-over-year).

• Loss before income tax improved to SEK -35,380 thousand from SEK -42,321 thousand year-over-year.

• Earnings per share before dilution improved to SEK -0.85 from SEK -1.14 year-over-year.

• Cash and cash equivalents at quarter-end were SEK 120,721 thousand, down from SEK 153,745 thousand at year-end 2025.

• Cash flow from operating activities improved to SEK -30,676 thousand from SEK -66,329 thousand year-over-year.

Outlook and guidance

• Anticipates dual US launch of DasynocⓇ and NilopkiⓇ in the second half of 2026, pending FDA approval.

• Manufacturing partner in Italy expected to be inspection-ready in H1 2026; FDA inspection timing may affect approval dates.

• Additional financing may be required to support double launch and achieve cash-flow positivity.