Klaria Pharma (KLAR) Q3 2024 earnings summary

Executive summary

• Net sales for Q3 2024 were SEK 0.0 million, down from SEK 0.6 million in Q3 2023; R&D expenses decreased to SEK 1.0 million from SEK 7.4 million.

• Group profit after tax for Q3 2024 was SEK -7.9 million, an improvement from SEK -10.8 million in Q3 2023; EPS was SEK -0.06.

• Cash flow from operating activities in Q3 2024 was SEK -3.8 million, with cash and cash equivalents at SEK 0.5 million at period end.

• Equity as of September 30, 2024, was SEK 12.9 million, down from SEK 50.7 million a year earlier; equity/assets ratio was 20%.

• Focus during the quarter was on out-licensing Sumatriptan Alginate Film, which received market approval in Germany, Italy, and Spain.

Financial highlights

• Net sales for Q3 2024 and the nine-month period were SEK 0.0 million, compared to SEK 0.6 million and SEK 7.1 million, respectively, in 2023.

• R&D expenses for Q3 2024 were SEK 1.0 million (Q3 2023: SEK 7.4 million); for Jan–Sep 2024, SEK 2.5 million (2023: SEK 23.0 million).

• Group profit after tax for Q3 2024 was SEK -7.9 million (Q3 2023: SEK -10.8 million); Jan–Sep 2024: SEK -32.2 million (2023: SEK -26.3 million).

• Cash flow from operating activities for Q3 2024 was SEK -3.8 million (Q3 2023: SEK -7.3 million); Jan–Sep 2024: SEK -13.2 million (2023: SEK -18.6 million).

• Cash and cash equivalents at period end were SEK 0.5 million (Q3 2023: SEK 2.3 million).

Outlook and guidance

• Klaria aims to expand Sumatriptan Alginate Film approval to additional European markets in 2025 via MRP and RUP procedures.

• Ongoing negotiations for license agreements covering major European markets; focus on market access, pricing, and supply chain agreements.

• Potential for future US market approval based on European data and follow-up studies.

• Continued development of other R&D projects, with updates expected in 2025.