LIDDS (LIDDS) Q3 2024 earnings summary

Executive summary

• No net sales reported for Q3 or the first nine months of 2024; focus remains on oncology drug development and proprietary NanoZolid technology.

• Cost reductions implemented, with further cost containment expected to maintain a low cost base and negative cash flow.

• Strategic focus on three main projects: Nanoimod, Nanodotax, and NOV202, with efforts to secure partnerships and alternative funding.

Financial highlights

• Q3 2024: Net sales 0 MSEK, operating result -1.1 MSEK, net result -0.9 MSEK, EPS SEK -0.01, cash flow from operations -1.4 MSEK, cash and cash equivalents 6.6 MSEK.

• First nine months 2024: Net sales 0 MSEK, operating result -3.5 MSEK, net result -3.3 MSEK, EPS SEK -0.03, cash flow from operations -4.5 MSEK.

• Group equity at 30 September 2024: 6.9 MSEK; equity asset ratio 75%.

• Significant cost reductions in personnel and external expenses compared to 2023.

Outlook and guidance

• Cash reserves expected to last through 2025 if current cost levels are maintained; additional funding required if costs increase.

• Focus on securing funding through licensing, partnerships, or targeted issues due to challenging capital markets.