Sprint Bioscience (SPRINT) Q1 2025 earnings summary

Executive summary

• Q1 2025 marked by both progress in oncology/immunotherapy and setbacks, including the non-renewal of the VRK1 program license by Day One Biopharmaceuticals and the discontinuation of the Petra01 program.

• Capital raise of approximately SEK 31.7 million announced, with SEK 23.4 million secured post-quarter to support ongoing development and operations.

• Cost reduction program initiated, including a 35% workforce reduction, expected to yield annual savings of SEK 30 million.

Financial highlights

• Net revenue for Q1 2025 was SEK 14.1 million, down 21% year-over-year from SEK 17.9 million, mainly due to lower activity in the VRK1 program.

• Operating loss for the quarter was SEK -5.0 million, compared to SEK -3.7 million in Q1 2024.

• Net loss after tax was SEK -5.6 million, versus SEK -3.1 million year-over-year.

• EPS for the quarter was SEK -0.08, compared to SEK -0.04 in Q1 2024.

• Cash flow from operations was SEK -5.5 million; cash and cash equivalents at period end were SEK 18.8 million, down from SEK 39.9 million a year earlier.

Outlook and guidance

• No formal forecast provided; management states that current funds, contracted revenues, and cost-saving measures secure financing for the next 12 months.