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PureTech Health H1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.H1 2025 earnings summary28 Aug, 2025
Executive summary
Entered 2025 with strong clinical momentum, advancing deupirfenidone (LYT-100) and launching Celea Therapeutics and Gallop Oncology, while progressing Seaport Therapeutics.
Maintained a strong financial position with $319.6M in PureTech-level cash as of June 30, 2025, providing operational runway into 2028.
Focused on three strategic pillars: advancing new treatments, strengthening UK capital market engagement, and disciplined capital allocation, including appointing new leadership and planning to add directors with UK expertise.
Refined capital allocation to prioritize value-accretive investments and potential capital returns, with operational support for Celea and Gallop transitioning to Founded Entities in 2026.
Financial highlights
Ended H1 2025 with $319.6M in cash, cash equivalents, and short-term investments, down from $366M at FY 2024.
Total revenue for H1 2025 was $1.9M, up 542% year-over-year, driven by Cobenfy (KarXT) royalty revenue.
Operating expenses for H1 2025 were $49.8M, down from $66.7M in H1 2024, reflecting Seaport deconsolidation and workforce reductions.
Net loss attributable to owners was $44.6M, compared to $41.8M in H1 2024.
Returned $150M to shareholders since 2022, including a $100M tender offer in 2024.
Outlook and guidance
Operational runway extends into 2028, with further reductions in R&D and G&A expenses expected as Gallop Oncology and Celea Therapeutics secure external funding and spin out.
Phase III trial for deupirfenidone in IPF expected to initiate in H1 2026, pending FDA alignment in Q3 2025.
Key data readouts for Gallop Oncology's LYT-200 in AML/MDS expected in Q4 2025 and H1 2026.
Vedanta’s VE303 Phase 3 topline data expected in 2026; Seaport’s Phase 2b BUOY-1 study ongoing.
What are key FDA discussion points for LYT-100 Phase III?
LYT-200 partnering focus: liquid or solid tumors?
What is Glyph platform's market opportunity?
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Next PureTech Health earnings date
H2 202529 Apr, 2026
Next PureTech Health earnings date
H2 202529 Apr, 2026
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Frequently asked questions
PureTech Health is an American clinical-stage biotherapeutics company that works with the discovery, development, and commercialization of medicines. PureTech’s pipeline includes proprietary product candidates in Phase 2 and Phase 3 clinical development that address significant unmet needs in oncology, central nervous system disorders, inflammatory disease, and gastrointestinal diseases. PureTech has a portfolio of proprietary, investigational medicines that are being developed with leading academic institutions as well as under strategic partnerships with other pharmaceutical companies.
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