AB SCIENCE (AB) H1 2025 earnings summary

Executive summary

• Advanced clinical development of masitinib in ALS, progressive MS, and Alzheimer's, with regulatory validation and new positive preclinical data in Alzheimer's.

• AB8939 received orphan drug status from EMA for AML and secured new patents in Canada and the US for key molecules.

• Multiple successful private placements raised €6.3M in the first half of 2025 to fund ongoing clinical programs.

• Agreement reached to defer €3.7M in state-guaranteed loan repayments by two years, pending further negotiations on a €12M EIB loan.

• U.S. patent granted for masitinib in sickle cell disease until 2040.

Financial highlights

• Net revenue for H1 2025 was €515K, down from €560K in H1 2024 due to temporary sales decline of Masivet 50mg.

• Operating loss reduced to €2.7M from €3.58M year-over-year, a 24% improvement.

• Net loss increased to €5.18M from €4.47M, mainly due to higher financial charges.

• Operating expenses fell 21.7%, with R&D and administrative costs both declining; administrative expenses dropped 31.1% to €893K.

• Cash and equivalents at June 30, 2025, were €5.03M, down from €7.99M at year-end 2024.

Outlook and guidance

• Focus remains on advancing masitinib and ALDH/Microtubule platforms, with continued investment in drug discovery and preclinical studies, subject to available funding.

• Proceeds from capital increases will fund ongoing clinical development, especially for AB8939.

• Ongoing search for partnerships to support late-stage clinical development and market authorization.