Cessatech (CESSA) Q1 2025 earnings summary

Executive summary

• Advanced preparation for CT001 EMA submission, with positive MDR assessment and finalization of Paediatric Safety Study 0202; US manufacturing and launch preparations ongoing.

• Net revenue of DKK 1,243 thousand in Q1 2025, with a net loss of DKK 4,296 thousand; results align with late-stage development plans.

• Cash at bank at period end was DKK 6,598 thousand, with a solidity ratio of 39%.

• Deferred revenue from Proveca agreement expected to be recognized as income during 2025.

Financial highlights

• Net revenue: DKK 1,243 thousand in Q1 2025, compared to DKK 0 in Q1 2024.

• Operating loss: DKK -5,610 thousand in Q1 2025, versus DKK -4,079 thousand in Q1 2024.

• Net loss: DKK -4,296 thousand in Q1 2025, compared to DKK -2,711 thousand in Q1 2024.

• Cash at bank: DKK 6,598 thousand at 31 March 2025, down from DKK 15,040 thousand at 31 March 2024.

• Earnings per share: DKK -0.25 in Q1 2025, compared to DKK -0.16 in Q1 2024.

Outlook and guidance

• EMA submission for CT001 planned for later in 2025, pending final reporting on Study 0202.

• US launch of CT001 anticipated in 2025, with manufacturing and distribution setup ongoing.

• Clinical and CMC costs for CT001 expected to decrease for the remainder of 2025 as development concludes.

• Cash position supported by an undrawn DKK 10,000 thousand loan facility extended to 2026, providing flexibility for 18–24 months.