First quarter summary, July \u2013 September 2026
\n\u2022\tNet sales amounted to MSEK 0.0 (0.0)
\n\u2022\tOperating profit amounted to MSEK -1.5 (-1.3)
\n\u2022\tEarnings per share* SEK -0.08 (-0.07)
\n\u2022\tCash and cash equivalents at the end of the period amounted to MSEK 7.7 (8.6)<\/p>\n
Clinical highlights
\n\u2022\tDuring the quarter, the follow-up of patients in the phase I\/IIa study with OsteoDex in multiple myeloma continued after the treatment part was completed in February 2026.
\n\u2022\tAfter the end of the quarter, in October 2026, the clinical study report (CSR) was completed, confirming previously communicated positive results. The primary and secondary objectives of the study were achieved.
\n\u2022\tNo serious OsteoDex-related adverse events were noted and all patients achieved stable disease during treatment. More than 70 percent maintained stable disease after completion of treatment, in some cases for up to 30 weeks.
\n* Before and after dilution. Earnings per share: Profit for the period divided by the average number of shares 18,485,857. For the comparison period, the average number of shares was 18,485,857. Amounts in brackets refer to the corresponding period last year for income statement and cash flow items and the end of the previous financial year for balance sheet items.<\/p>\n
Comments from the CEO
\nThe treatment part of the company’s clinical phase I\/IIa study with OsteoDex (ODX) for the treatment of patients with relapsed or treatment-resistant multiple myeloma was completed in February 2026. The last patients received their last treatments at the end of February. The study has been conducted at Uddevalla Hospital and Karolinska University Hospital in Huddinge. Eleven (11) patients were included in the study. Patients who achieved stable disease during treatment will continue to be followed until new disease progression.
\nAfter the end of the reporting period, in October 2026, the Clinical Study Report (CSR) for the Phase I\/IIa study with OsteoDex in multiple myeloma was completed. The report confirms the previously communicated preliminary results and shows that the primary and secondary objectives of the study have been achieved. This means that no serious adverse events (SAEs) have been noted and that all patients have transitioned from progressive disease to stable disease. More than 70% of the patients maintained their stable, non-progressive, disease even after treatment has been completed, up to 30 weeks (mean 25.1 weeks).
\nBlood tests show that markers for bone cells dropped significantly during treatment. No abnormal values for the heart, liver and kidneys have been noted.
\nThe primary study endpoint has thus been met by the absence of severe ODX-related toxicity. The secondary study endpoint has also been met, showing that all patients responded positively to ODX treatment, with a transition from progressive disease, according to IMWG criteria, to non-progressive disease during treatment.
\nThe results verify the ODX mechanism of action, i.e. that the ODX treatment modifies the tumor cells’ microenvironment and thereby slows down\/hinders continued growth. The mechanism is unique and also has applications for other cancers with bone involvement, such as late-stage breast cancer. The very good safety profile opens up great opportunities for combination treatments without adding additional toxicity.
\nAs previously announced, updated cost forecasts and current liquidity show that working capital is sufficient to finance the current operations until the end of 2028.
\nAnders R Holmberg<\/p>\n