eXoZymes (EXOZ) Q1 2025 earnings summary

Executive summary

• Achieved a major milestone with the launch of NCTx, a wholly owned subsidiary focused on commercializing N-trans-caffeoyltyramine (NCT) for nutraceutical and pharmaceutical applications, marking the first commercial milestone for the platform.

• Attended SynBioBeta 2025, increasing brand recognition and generating over 60 partnership meetings and 35 follow-ups.

• Completed IPO in November 2024, raising net proceeds of $15.2 million for R&D, production expansion, staffing, and loan repayment.

• Secured the BioClick grant, published a cover story in Genetic Engineering & Biotechnology News, and completed a successful rebranding campaign.

• As of March 31, 2025, had 8,367,810 shares outstanding and working capital of $7.97 million.

Financial highlights

• Cash and cash equivalents stood at $8.51 million as of March 31, 2025, providing liquidity into 2026.

• Total operating expenses for Q1 2025 were $1.95 million, up 93% year-over-year, mainly due to increased R&D and professional expansion.

• Net loss for Q1 2025 was $1.86 million, compared to $1.01 million in Q1 2024.

• No revenue was recognized in Q1 2025; the company remains pre-revenue.

• Weighted average shares outstanding increased to 8,367,810 from 6,250,002 year-over-year due to the IPO.

Outlook and guidance

• Focused on capital efficiency and prioritizing high-value opportunities from SynBioBeta connections.

• Preparing a broad call for partnerships and talent to accelerate NCTx growth and exploring additional spin-outs or joint ventures.

• Management believes current working capital is sufficient for near-term operations, with ongoing efforts to secure additional grants and potential future equity or debt financing.

• Plans to allocate capital toward advancing research, development, and commercialization initiatives.