Alzinova (ALZ) Q2 2025 earnings summary

Executive summary

• Achieved key milestones advancing ALZ-101, including positive Phase 1b data and regulatory progress toward Phase II initiation later in 2025.

• Submitted IND and Fast Track applications to the FDA for ALZ-101, with manufacturing and CRO partnerships secured.

• Rights issue raised SEK 30.3 million, supporting final Phase II preparations and ongoing partnership discussions.

• Management and board demonstrated confidence by participating in the rights issue and warrant program.

Financial highlights

• Q2 2025 loss after financial items: SEK -7,684 thousand (Q2 2024: -4,876).

• H1 2025 loss after financial items: SEK -13,415 thousand (H1 2024: -9,838).

• Q2 cash flow: SEK 7,918 thousand (Q2 2024: -8,020); H1 cash flow: SEK -3,986 thousand (H1 2024: -17,039).

• Cash and cash equivalents at period end: SEK 11,510 thousand (H1 2024: 4,987).

• Total expenses Q2: SEK -16,227 thousand (Q2 2024: -7,652), with R&D costs SEK -8,610 thousand (Q2 2024: -2,885).

Outlook and guidance

• Well positioned to initiate Phase II clinical trial for ALZ-101 in late 2025, pending regulatory feedback.

• Ongoing partnership and licensing discussions to secure long-term resources.

• Focus remains on advancing scientific innovation and building strategic collaborations.