Active Biotech (ACTI) Q4 2024 earnings summary

Executive summary

• Achieved significant progress in clinical projects, including advancing tasquinimod in myelofibrosis and multiple myeloma, and laquinimod in inflammatory eye disorders.

• Successfully completed an oversubscribed rights issue, raising SEK 43.4 million to fund ongoing clinical programs.

• Focused on clinical proof-of-concept studies for tasquinimod in myelofibrosis and completed recruitment for multiple myeloma trial.

• Reported positive preclinical and early clinical data for key assets, supporting further development.

Financial highlights

• No net sales recorded for 2024; operating loss was SEK 39.8 million, improved from SEK 46.5 million in 2023.

• Research and development expenses decreased 18% year-over-year to SEK 26.7 million.

• Cash and cash equivalents at year-end were SEK 27.4 million, excluding SEK 8.2 million received in January 2025.

• Earnings per share improved to SEK -0.09 from SEK -0.17 year-over-year.

• Equity/assets ratio increased to 75.8% from 69.6% at year-end 2023.

Outlook and guidance

• Ongoing clinical programs for tasquinimod in myelofibrosis and laquinimod in eye disorders will remain the focus in 2025.

• Results from the multiple myeloma and laquinimod biodistribution studies expected in H1 2025.

• Available liquidity will fund operations through 2025, but further growth capital will be required for unpartnered projects.