Alzinova (ALZ) Q1 2025 earnings summary

Executive summary

• Achieved positive final results from Phase 1b clinical trial for ALZ-101, meeting safety, tolerability, and immunogenicity endpoints; exploratory data show stable disease with no deterioration.

• Prepared for Phase 2 study with drug substance for ALZ-101 now available; study start planned for H2 2025.

• Strengthened financial position through a rights issue raising SEK 30.3 million before costs, supporting Phase 2 preparations.

• Ongoing strategic partnership discussions and implementation of a long-term incentive program to retain talent.

Financial highlights

• Net sales for Q1 2025 were SEK 0 thousand (0 in Q1 2024).

• Loss after financial items was SEK -5,731 thousand (compared to -4,963 thousand in Q1 2024).

• Total costs for Q1 2025 were SEK 11,961 thousand (7,817 in Q1 2024), with R&D costs at SEK 5,995 thousand (2,823 in Q1 2024).

• Cash balance at period end was SEK 3,592 thousand (13,007 in Q1 2024); equity was SEK 118,092 thousand (108,895 in Q1 2024).

• Earnings per share for Q1 2025 were SEK -0.06 (-0.11 in Q1 2024); average shares outstanding 89,165,460 (44,531,265 in Q1 2024).

Outlook and guidance

• Phase 2 clinical trial for ALZ-101 is on track to begin in the second half of 2025.

• Financial stability from recent rights issue enables completion of Phase 2 preparations and ongoing partnership discussions.

• Focus remains on advancing ALZ-101 and ALZ-201, with potential for further capital raising and pipeline expansion.