Klaria Pharma (KLAR) Q3 2025 earnings summary

Executive summary

• No net sales were recorded in Q3 2025, with R&D expenses at 4.8 MSEK and a net loss after tax of -8.7 MSEK for the quarter, and -30.4 MSEK for the nine-month period.

• Cash flow from operating activities was highly negative at -31.2 MSEK in Q3, mainly due to payment of accrued interest on redeemed loans.

• The company secured 31.8 MSEK from a share issue in July and 9.7 MSEK from convertibles in June.

• CNX Therapeutics began production of Sumatriptan Alginate Film ahead of its European launch, marking a key milestone.

Financial highlights

• Net sales for Q3 2025 were 0 SEK, compared to 1,060 TSEK in Q3 2024; for Jan–Sep 2025, net sales were 8,985 TSEK, up from 1,182 TSEK year-over-year.

• R&D expenses for Q3 were 4,752 TSEK (4,658 TSEK in Q3 2024); for Jan–Sep, 15,267 TSEK (12,832 TSEK in 2024).

• Profit after tax for Q3 was -8,733 TSEK (-7,868 TSEK in Q3 2024); for Jan–Sep, -30,443 TSEK (-32,169 TSEK in 2024).

• Cash and cash equivalents at period end were 2,541 TSEK (537 TSEK in Q3 2024).

• Equity at period end was 4,545 TSEK (12,917 TSEK in Q3 2024).

Outlook and guidance

• Preparations for the European launch of Sumatriptan Alginate Film are in final stages, with initial launches planned in Germany, Spain, and Italy in H2 2025.

• Expansion into additional markets, including the Middle East, South America, Asia/Australia/New Zealand, and the US, is being pursued through licensing discussions.