Molecure (MOC) Q3 2025 earnings summary

Executive summary

• Focused on advancing key clinical projects OATD-01 (phase II) and OATD-02 (phase I), with accelerated patient recruitment and protocol optimizations in 2025.

• Operational restructuring included a 25-person workforce reduction and pipeline prioritization, lowering cost base.

• Raised PLN 30.3m via share issue, securing funding for ongoing R&D.

• Achieved major milestones in clinical and business development, with intensified efforts in mRNA drug discovery platform.

Financial highlights

• Operating revenue for the first three quarters: PLN 3.9m, up from PLN 1.1m year-over-year, mainly from grants.

• Net loss for the period: PLN -14.0m, improved from PLN -20.8m year-over-year.

• Operating cash flow: PLN -16.6m, improved from PLN -21.3m year-over-year.

• Total assets: PLN 97.2m as of 30.09.2025, down from PLN 113.7m at year-end 2024.

• Cash at period end: PLN 22.5m.

Outlook and guidance

• Next quarters will focus on achieving interim and final results from the KITE phase II trial for OATD-01.

• Further development of OATD-01 beyond phase II will require a partnership with a larger pharma or biotech company.

• Continued pursuit of non-dilutive funding (grants, partnerships) and selective capital market financing.