Infant Bacterial Therapeutics (IBT) Q2 2024 earnings summary

Executive summary

• No net sales reported for Q2 or H1 2024; company remains pre-revenue as it advances clinical development.

• Operating loss increased to KSEK -44,279 in Q2 2024 from KSEK -30,952 year-over-year; H1 operating loss was KSEK -74,077 versus KSEK -55,247.

• The pivotal Phase 3 clinical trial for IBP-9414 completed patient treatment in July 2024; results expected in Q3 2024.

• Received Notice of Allowance for IBP-9414 patent from USPTO in August 2024, strengthening US intellectual property position.

Financial highlights

• Net sales were KSEK 0 for both Q2 and H1 2024, unchanged from prior year.

• Operating loss for Q2 2024 was KSEK -44,279 (vs. -30,952); H1 2024 was KSEK -74,077 (vs. -55,247).

• Result after tax for Q2 2024 was KSEK -42,675 (vs. -28,820); H1 2024 was KSEK -70,489 (vs. -51,288).

• Cash flow for H1 2024 was KSEK -60,726 (vs. -42,647); cash at June 30, 2024, was KSEK 272,510.

• Earnings per share before and after dilution for H1 2024 was SEK -5.23 (vs. -4.57).

Outlook and guidance

• Results from the Phase 3 "Connection Study" for IBP-9414 are expected in Q3 2024; regulatory submission preparations underway.

• IBT aims for regulatory approval of IBP-9414 in 2025 and plans to expedite market authorization using accelerated FDA/EMA procedures.

• Commercial production and market launch preparations will intensify following study results.