Half-year report July 1 – December 31, 2025
25 February, 2026
Summary of the second quarter (2025-10-01 – 2025-12-31)
- Net sales amounted to MSEK 0 (0.0)
- Operating profit/loss amounted to MSEK -1.7 (-1.1)
- Earnings per share* SEK -0.09 (-0.05)
- More than 80 per cent of patients transitioned from progressive to stable disease following completion of treatment.
- The study demonstrates a favorable safety profile, with no serious OsteoDex-related adverse events reported.
Summary of the first half-year (2025-07-01 – 2025-12-31)
- Net sales amounted to MSEK 0 (0.0)
- Operating profit/loss amounted to MSEK -3.0(-2.4)
- Earnings per share* SEK -0.16 (-0.11)
- Cash and cash equivalents at the end of the period amounted to MSEK 2 (14.7)
Earnings per share are calculated on the average number of shares outstanding during the period.
Amounts in brackets refer to the corresponding period of the previous year, except for cash and cash equivalents which relate to amounts at the end of the previous financial year.
Comments from the CEO
The Company’s Phase I/IIa study of OsteoDex (ODX) for the treatment of patients with relapsed/refractory multiple myeloma, conducted at Uddevalla Hospital and Karolinska University Hospital, is approaching completion and all patients are expected to have completed treatment by the end of February 2026.
The results demonstrate a favourable safety profile, with no serious ODX-related adverse events reported, and a majority of patients achieving stable disease following completion of treatment. Follow-up data further indicate that, in certain cases, the treatment effect persists for several months after completion of therapy without the need for additional anti-cancer treatment.
The results to date are encouraging and will now be supplemented with additional analyses. The Clinical Study Report (CSR) is expected to be finalised during the second quarter of 2026.
The Company has previously communicated that existing funding would secure operations until the end of 2026. Following updated cost forecasts and based on current liquidity, the Board of Directors now assesses that working capital is sufficient to finance current operations at least until the end of 2028.
Anders R Holmberg