Guard Therapeutics Intl (GUARD) Q3 2025 earnings summary

Executive summary

• Focus during Q3 2025 was on completing the pivotal phase 2b POINTER study for RMC-035 in open heart surgery; however, negative topline results were reported after the period, prompting a strategic review of future direction.

• Despite strong operational execution and external interest, the primary and key secondary endpoints in POINTER were not met, overshadowing earlier promising results from the AKITA phase 2a study.

• All development activities have been paused to preserve shareholder value while strategic alternatives, including the GTX platform for chronic kidney disease, are evaluated.

Financial highlights

• Net sales were 0 KSEK for both Q3 and the nine-month period (unchanged year-over-year).

• Net loss for Q3 was -26,085 KSEK (improved from -31,727 KSEK YoY); for January–September, net loss was -92,522 KSEK (widened from -70,108 KSEK YoY).

• Earnings per share for Q3: -1.29 SEK (vs. -2.65 SEK YoY); for nine months: -5.34 SEK (vs. -6.51 SEK YoY).

• R&D expenses for Q3: -23,150 KSEK (vs. -29,718 KSEK YoY); for nine months: -83,493 KSEK (vs. -66,001 KSEK YoY), mainly due to the POINTER study.

• Cash and cash equivalents at period end: 69,757 KSEK (vs. 66,775 KSEK YoY).

• Equity ratio at period end: 78% (vs. 84% YoY).

Outlook and guidance

• Strategic review underway following negative POINTER results; all development paused pending outcome.

• Available cash is expected to be sufficient to fund operations through 2026.