Opsy (OPSYH ) Q4 2024 earnings summary

Executive summary

• Foxy-5 phase 2 study showed no effect, leading to discontinuation and a strategic shift toward a reverse acquisition or merger.

• Agreement signed to acquire all shares in Opsy AB for ~120 MSEK, paid in newly issued shares, pending EGM approval.

• If the Opsy deal is not approved, immediate liquidation is considered the only alternative to bankruptcy.

• CEO Per Norlén's employment will end as part of the post-study review; he remains during the notice period until April 2025.

Financial highlights

• No sales revenue; net result for Q4 was -10.7 MSEK (Q4 2023: -8.1 MSEK); full-year net result -46.5 MSEK (2023: -32.5 MSEK).

• Operating costs for the year were -47.2 MSEK (2023: -33.1 MSEK).

• Cash and cash equivalents at year-end were 5.3 MSEK (2023: 26.9 MSEK).

• Cash flow for the year was -21.6 MSEK (2023: 17.0 MSEK).

• Shareholders' equity at year-end was 5.6 MSEK (2023: 27.1 MSEK).

Outlook and guidance

• If the Opsy acquisition is approved, the company will change name to Opsy Holding AB and continue Opsy's business on Spotlight Stock Market.

• Opsy targets profitability in 2025 and annual revenues of ~50 MSEK within a few years, based on current market uptake.

• If the acquisition fails, liquidation is expected, with lower value for shareholders than current share price.