Active Biotech (ACTI) Q4 2025 earnings summary

Executive summary

• Achieved key milestones in clinical and preclinical development for tasquinimod in myelofibrosis and multiple myeloma, and laquinimod in inflammatory eye diseases.

• Successfully completed a fully guaranteed rights issue of SEK 70 million to fund operations through 2027.

• Ongoing collaborations with leading academic institutions in the US and Europe support clinical programs.

Financial highlights

• No net sales recorded for 2025; operating loss was SEK 37.6 million, down from SEK 39.8 million in 2024.

• Loss after tax for 2025 was SEK 37.3 million, compared to SEK 39.4 million in 2024.

• Cash and cash equivalents at year-end were SEK 65.1 million, up from SEK 27.4 million at the end of 2024.

• Cash flow from financing activities was SEK 70.1 million, reflecting proceeds from the rights issue.

• Equity/assets ratio improved to 79.2% from 75.8% in 2024.

Outlook and guidance

• Funding secured to support ongoing clinical studies and business development through 2027.

• Interim results from tasquinimod clinical studies expected in 2026, with efficacy results anticipated by end of 2027.

• Focus remains on advancing tasquinimod in myelofibrosis and securing partnerships for laquinimod.