MaaT Pharma (MAAT) Q3 2024 TU earnings summary

Executive summary

• Completed enrollment in European Phase 3 ARES trial for MaaT013 in acute Graft-versus-Host Disease; topline results expected January 2025.

• Positive safety review by DSMB for Phase 2b PHOEBUS trial of MaaT033; trial continues without modification.

• Management changes: Eric Soyer appointed CFO, Sian Crouzet transitions to Chief of Staff after 8 years as CFO.

Financial highlights

• Cash and cash equivalents at €27 million as of September 30, 2024, down from €31.2 million at June 30, 2024.

• Q3 2024 revenues of €0.6 million, up from €0.4 million in Q3 2023; nine-month 2024 revenues at €2.3 million vs €1.8 million in 2023.

• Net cash decrease in Q3 2024 reflects ongoing R&D investments, partially offset by public funding and R&D tax credit payments.

Outlook and guidance

• Sufficient cash to fund operations and development programs into Q2 2025.

• Topline results for Phase 3 ARES trial expected in January 2025.