Gabather (GABA) Q1 2025 earnings summary

Executive summary

• No revenue generated in Q1 2025; operating loss narrowed to -303 tkr from -3,188 tkr year-over-year.

• Successful rights issue in March 2025 raised 6.38 MSEK before costs, increasing share capital and number of shares significantly.

• Danish Medicines Agency approved phase II clinical trial (TOTEMS) for lead candidate GT-002 in schizophrenia.

• Cost structure optimized through organizational adjustments and efficiency measures.

• Focus remains on clinical development and business development for GT-002.

Financial highlights

• Operating loss improved to -303 tkr from -3,188 tkr year-over-year; net loss -336 tkr vs. -3,181 tkr.

• Cash flow for the period was 4,127 tkr (1,251 tkr); cash at period end 5,005 tkr (2,366 tkr).

• Equity per share at period end was 0.00 SEK (vs. -0.18 SEK at year-end 2024); equity ratio improved to 6.5% from -227.8%.

• Result per share improved to -0.01 SEK from -0.18 SEK year-over-year.

Outlook and guidance

• Ongoing phase II clinical trial for GT-002 in schizophrenia, with first patient treatment expected in Q2 2025.

• Company aims to secure further financing, including potential proceeds from outstanding warrants in late 2025.

• Strategic focus on advancing GT-002 and seeking commercial partnerships post-clinical data.