Lipigon Pharmaceuticals (LPGO) Q1 2025 earnings summary

Executive summary

• Fully guaranteed rights issue completed post-period, raising net proceeds of SEK 31.3 million to fund ongoing clinical development and business activities.

• Phase II study of Lipisense® progressing, with recruitment expected to complete in H1 2025 and preliminary results in H2 2025.

• Positive Phase I data for Lipisense® from Chinese partner Leaderna Therapeutics, supporting safety profile.

Financial highlights

• Net sales for Q1 2025 were SEK 0 thousand, unchanged from Q1 2024.

• Operating loss for Q1 2025 was SEK -9,065 thousand, compared to SEK -7,414 thousand in Q1 2024.

• Net loss for Q1 2025 was SEK -9,155 thousand, versus SEK -7,415 thousand in Q1 2024.

• Cash and cash equivalents at March 31, 2025, were SEK 3,763 thousand, down from SEK 24,003 thousand a year earlier.

• Equity at March 31, 2025, was SEK 29,243 thousand, up from SEK 21,416 thousand at March 31, 2024.

Outlook and guidance

• Capital raise enables completion of ongoing Phase II Lipisense® study and further business development.

• Recruitment for Phase II expected to finish in H1 2025, with preliminary results in H2 2025.

• Focus on increasing visibility and partnering opportunities for Lipisense®.