LIDDS (LIDDS) Q4 2024 earnings summary

Executive summary

• LIDDS AB, a Swedish oncology-focused pharmaceutical company, reported no net sales for 2024, with continued cost-saving measures and a focus on securing external partnerships for clinical projects.

• The acquisition of Noviga Research AB was completed, resulting in a reverse takeover and significant dilution, with Noviga's lead asset NOV202 now central to the pipeline.

• The company reduced staff to one employee and paused further clinical investments to maximize cash runway while seeking licensing or partnership deals.

Financial highlights

• Net sales were 0 MSEK for both Q4 and the full year 2024.

• Operating result for Q4 2024 was -1.1 MSEK; net result was -1.0 MSEK (EPS SEK -0.01).

• Full-year operating result was -4.5 MSEK; net result was -4.3 MSEK (EPS SEK -0.04).

• Cash flow from operating activities was 1.0 MSEK in Q4 and -5.4 MSEK for the year.

• Cash and cash equivalents at year-end were 5.5 MSEK.

Outlook and guidance

• Focus remains on finding external partners to advance clinical projects, as internal funding is insufficient for further development.

• Current cash and cost structure expected to sustain operations through 2025 at present activity levels.