Company Overview - Smartkem is focused on revolutionizing the electronics industry with a new class of transistor technology using proprietary advanced semiconductor materials [3] - The company's TRUFLEX® semiconductor technology allows for low temperature printing processes that are compatible with existing manufacturing infrastructure, enabling the production of low-cost, high-performance, flexible displays [3] - Smartkem's technology can be applied in various display technologies including microLED, miniLED, and AMOLED, as well as in sensors and logic applications [3] Upcoming Conference Participation - Smartkem will participate in the 37th Annual Roth Conference from March 16th to 18th, 2025, which is a significant investor conference in the U.S. [1] - The conference will be held at The Laguna Cliffs Marriott in Dana Point, California, bringing together institutional investors, industry leaders, and emerging growth companies [1] - CEO Ian Jenks and CFO Barbra Keck will be available for one-on-one meetings on March 17th and 18th [2] Research and Development - Smartkem develops its materials at its research and development facility located in Manchester, UK, and provides prototyping services at the Centre for Process Innovation (CPI) in Sedgefield, UK [4] - The company has a field application office in Taiwan and holds an extensive intellectual property portfolio, including 138 granted patents across 17 patent families, 17 pending patents, and 40 codified trade secrets [4]

Company Overview - Smartkem is focused on revolutionizing the electronics industry with its proprietary organic thin film transistor (OTFT) technology, which aims to deliver low-cost, high-performance, flexible displays [5][6] - The company utilizes its TRUFLEX® semiconductor technology, which allows for low-temperature printing processes compatible with existing manufacturing infrastructure [5] - Smartkem has a strong intellectual property portfolio, including 138 granted patents across 17 families, 16 pending patents, and 40 codified trade secrets [6] Industry Context - SEMICON Korea 2025 is a significant event for the semiconductor industry, showcasing advancements in materials, equipment, and technologies [1][3] - The conference will focus on key trends such as AI, advanced packaging, and sustainable semiconductor manufacturing technologies, which are essential for driving innovation in chip design and manufacturing processes [3] Event Participation - Smartkem will participate in SEMICON Korea 2025 from February 19 to 21, 2025, at the COEX convention center in Seoul, South Korea [1] - CEO Ian Jenks will showcase Smartkem's OTFT technology and will be available for one-on-one meetings with industry representatives, media, analysts, and investors [2]

Core Insights - Smartkem has completed its first sale of TRUFLEX® semiconductor materials to Shanghai Chip Foundation, marking a significant milestone in their partnership aimed at developing microLED-based backlight technology for LCDs [1][2][3] Company Overview - Smartkem is focused on revolutionizing the electronics industry with its organic thin-film transistors (OTFTs) and proprietary TRUFLEX® materials, which are designed for various display technologies, including next-generation microLED displays [3][4] - The company has a strong intellectual property portfolio with 138 granted patents across 18 families and 40 trade secrets [4] Partnership Details - The collaboration with Chip Foundation involves integrating Smartkem's organic dielectric single layer material (RDL) with Chip Foundation's microLED devices, aiming to enhance brightness and current efficiency while reducing power losses [2][3] - Additional sales of RDL materials to Chip Foundation are anticipated to continue throughout 2025, indicating a long-term partnership [2] Chip Foundation Overview - Chip Foundation specializes in semiconductor technology, particularly in developing advanced substrates for Gallium Nitride (GaN) growth, which are crucial for microLED applications [5][6] - The company has innovated a new type of composite patterned sapphire substrate (DPSS) that significantly reduces dislocation density, enhancing the performance of microLED chips [5][8] Technological Advancements - Chip Foundation's chemical lift-off technology for GaN substrates offers cost-effective and high-yield production methods compared to traditional laser lift-off processes, improving chip performance [5][6] - The company is also advancing wafer-level packaging technology based on thin-film chips, which maximizes the performance of these chips in backlight applications [7]

Company Overview - Smartkem is focused on revolutionizing the electronics industry with its disruptive organic thin-film transistors (OTFTs) and patented TRUFLEX® liquid semiconductor polymers, which enable low-temperature printing processes for cost-effective displays [6] - The company operates a research and development facility in Manchester, UK, and provides prototyping services at the Centre for Process Innovation (CPI) in Sedgefield, UK, with a field application office in Taiwan [8] - Smartkem holds an extensive IP portfolio, including 138 granted patents across 18 patent families and 40 codified trade secrets [8] 2024 Achievements - Smartkem raised $7.65 million in December 2024 and secured a $1.1 million grant for a project to develop the world's first rollable, transparent microLED display [2] - The company uplisted to Nasdaq, enhancing trading liquidity and investor access [2] - Smartkem entered multiple strategic partnerships with industry leaders, including AUO, FlexiIC, ITRI, Chip Foundation, Shanghai Tianma Microelectronics, and RiTdisplay, to advance its technology and product development [7] - The company increased its IP portfolio to 138 patents and 40 codified trade secrets, strengthening its competitive position in the organic materials electronics industry [7] - Smartkem exhibited and presented at key trade events, including Touch Taiwan 2024 and Display Week 2024, where CEO Ian Jenks delivered the DSCC / SID Business Conference keynote speech [7] 2025 Goals - Smartkem aims to achieve qualifications and design wins with existing and new collaborations, focusing on driving the adoption of advanced display technologies [2] - The company plans to complete the qualification of the Gen 2.5 ITRI process line and enter additional collaborations or co-development agreements to advance technology commercialization [7] - Smartkem is targeting the growing microLED industry, which is projected to expand from $150 million in 2024 to over $4 billion by 2031 [2] Industry Outlook - The microLED industry is expected to grow significantly, from $150 million in 2024 to over $4 billion by 2031, driven by advancements in display technologies [2] - Smartkem's technology is positioned to play a key role in the adoption of advanced display solutions, including microLED displays, packaging for AI chips, and CMOS for smart sensors [2]

Core Viewpoint - Smartkem has successfully completed concurrent public and private offerings, raising a total of $7.65 million to support its innovative organic thin-film transistors (OTFTs) aimed at transforming the electronics industry [1][5]. Group 1: Offerings Details - The company issued 1,449,997 registered shares of common stock and unregistered Class D warrants, priced at $3.00 per share, with each investor receiving one Class D warrant for each share purchased [2]. - In a separate private placement, Smartkem sold 169,784 unregistered shares of common stock and unregistered prefunded warrants to purchase up to 930,215 shares, with prices set at $3.00 per share and $2.9999 per pre-funded warrant [3]. - The Class D warrants are immediately exercisable at $3.00 per share and expire on December 31, 2025, while the pre-funded warrants are exercisable at $0.0001 per share [4]. Group 2: Use of Proceeds - The net proceeds from the offerings will be utilized for working capital and general corporate purposes [5]. Group 3: Company Background - Smartkem is focused on revolutionizing the electronics sector with its patented TRUFLEX® liquid semiconductor polymers, which can be used in next-generation display technologies, including microLED displays [10]. - The company has a robust intellectual property portfolio, consisting of 138 granted patents across 18 families, 16 pending patents, and 40 codified trade secrets [11].

Project in partnership with AUO starts on January 1, 2025 MANCHESTER, England, Dec. 18, 2024 /PRNewswire/ -- Smartkem (Nasdaq: SMTK), which is seeking to change the world of electronics using its disruptive organic thin-film transistors (OTFTs), has received and accepted a £900,000 (USD 1.1 million) grant from Innovate UK for its previously announced project partnership with AUO to develop a rollable, transparent microLED display. Part of the 2024 UK-Taiwan Collaborative R&D Initiative, the 2-year project w ...

MANCHESTER, England, Dec. 18, 2024 /PRNewswire/ -- Smartkem (Nasdaq: SMTK), which is seeking to change the world of electronics using its disruptive organic thin-film transistors (OTFTs), announced that it has priced concurrent public and private offerings of its securities, including shares of its common stock and common stock equivalents, for an aggregate offering price of $7.65 million to new and existing investors.1,449,997 registered shares of common stock and unregistered Class D warrants to purchase ...

New project builds on ongoing collaboration to develop custom circuits using Smartkem's organic transistor technologyMANCHESTER, England, Dec. 5, 2024 /PRNewswire/ -- Smartkem (NASDAQ: SMTK), which is seeking to change the world of electronics using its disruptive organic thin-film transistors (OTFTs), has signed a multi-year agreement with FlexiIC, a company providing innovation in the design of flexible integrated circuits and systems, to begin a new project to develop a new generation of CMOS for smart s ...

[Smartkem Q3 2024 Financial Results & Business Update](index=1&type=section&id=Smartkem_Q3_2024_Financial_Results_Business_Update) [Q3 2024 Overview and Strategic Focus](index=1&type=section&id=Q3_2024_Overview_Strategic_Focus) Smartkem's Q3 2024 results highlight progress in OTFT commercialization for microLED displays, strategic partnerships, and a focus on 2025 qualifications and design wins - Entered a joint development agreement (JDA) with Chip Foundation for microLED-based backlight technology for LCDs[2](index=2&type=chunk) - ITRI requested Smartkem to develop packaging solutions for advanced computer and AI chips[2](index=2&type=chunk) - The microLED display industry is projected to grow from **$150 million** in 2024 to over **$4 billion** by 2031[3](index=3&type=chunk) - Strategic focus for 2025 is on delivering qualifications and design wins to increase adoption of advanced display technologies[4](index=4&type=chunk) [Recent Business Highlights](index=1&type=section&id=Recent_Business_Highlights) Smartkem's recent business highlights include a JDA with Shanghai Chip Foundation and active participation in key industry forums and exhibitions - Signed a JDA with Shanghai Chip Foundation Semiconductor Technology Co. to co-develop microLED-based backlight technology for LCDs[5](index=5&type=chunk) - Presented a keynote at the PlayNitride 2024 MicroLED Technology Forum, highlighting advantages for microLED display mass adoption[5](index=5&type=chunk) - Exhibited and presented at multiple international conferences, including SEMICON® Taiwan 2024, IMID 2024, ICFPE 2024, and TechBlick[5](index=5&type=chunk) [Company Information](index=2&type=section&id=Company_Information) [About Smartkem](index=2&type=section&id=About_Smartkem) Smartkem develops patented TRUFLEX® liquid semiconductor polymers and OTFTs for next-generation microLED displays, leveraging low-temperature printing and an extensive IP portfolio - Smartkem develops disruptive organic thin-film transistors (OTFTs) and patented TRUFLEX® liquid semiconductor polymers for next-generation displays, including microLEDs[7](index=7&type=chunk) - Their inks enable low-temperature printing processes compatible with existing manufacturing infrastructure for cost-effective, high-performance displays[7](index=7&type=chunk) - The company holds an extensive IP portfolio, including **125 granted patents** across **19 patent families** and **40 codified trade secrets**[8](index=8&type=chunk) [Forward-Looking Statements](index=2&type=section&id=Forward-Looking_Statements) This section contains cautionary forward-looking statements regarding Smartkem's future, subject to risks and uncertainties, with no obligation to update - All statements not historical are forward-looking, encompassing expectations for market position, product development, manufacturing, sales, and partnerships[9](index=9&type=chunk) - Forward-looking statements involve known and unknown risks, uncertainties, and assumptions, with actual results potentially differing materially[9](index=9&type=chunk) - The Company undertakes no obligation to revise or update this information to reflect future events or circumstances[9](index=9&type=chunk) [Financial Performance](index=1&type=section&id=Financial_Performance) [Q3 2024 Financial Highlights](index=1&type=section&id=Q3_2024_Financial_Highlights) Smartkem's Q3 2024 financial highlights show a significant decrease in cash, increased operating expenses, and negligible revenue Q3 2024 Financial Highlights (in millions, except revenue) | Metric | Sep 30, 2024 | Dec 31, 2023 | | :------------------------ | :----------- | :----------- | | Cash and cash equivalents | $1.8 | $8.8 | | Operating expenses (Q3) | $3.0 | $2.7 | | Revenues (Q3) | Nil | $0.003 | [Condensed Consolidated Balance Sheets](index=3&type=section&id=SMARTKEM_INC_Condensed_Consolidated_Balance_Sheets) Smartkem's balance sheet as of September 30, 2024, shows decreased total assets, liabilities, and stockholders' equity, primarily due to reduced cash and warrant liability elimination Condensed Consolidated Balance Sheets (in thousands) | Metric | Sep 30, 2024 | Dec 31, 2023 | | :--------------------------- | :----------- | :----------- | | **Assets** | | | | Cash and cash equivalents | $1,783 | $8,836 | | Total current assets | $3,750 | $10,525 | | Total assets | $4,306 | $11,272 | | **Liabilities** | | | | Total current liabilities | $1,995 | $1,768 | | Warrant liability | $— | $1,372 | | Total liabilities | $2,026 | $3,159 | | **Stockholders' Equity** | | | | Total stockholders' equity | $2,280 | $8,113 | [Condensed Consolidated Statements of Operations and Comprehensive Loss](index=5&type=section&id=SMARTKEM_INC_Condensed_Consolidated_Statements_of_Operations_and_Comprehensive_Loss) Smartkem reported nil revenue and increased operating expenses for Q3 and the nine months ended September 30, 2024, resulting in significant net and comprehensive losses Condensed Consolidated Statements of Operations and Comprehensive Loss (in thousands) | Metric | 3 Months Ended Sep 30, 2024 | 3 Months Ended Sep 30, 2023 | 9 Months Ended Sep 30, 2024 | 9 Months Ended Sep 30, 2023 | | :---------------------------------------- | :-------------------------- | :-------------------------- | :-------------------------- | :-------------------------- | | Revenue | $— | $3 | $40 | $27 | | Gross profit | $— | $2 | $8 | $4 | | Operating expenses | $3,125 | $2,954 | $8,797 | $8,315 | | Loss from operations | $(2,838) | $(2,695) | $(8,064) | $(7,616) | | Net loss | $(2,842) | $(3,022) | $(7,637) | $(7,097) | | Total comprehensive loss | $(2,717) | $(2,172) | $(7,356) | $(7,220) | | Basic net loss per common share | $(0.86) | $(1.78) | $(2.49) | $(5.82) | | Weighted average basic shares outstanding | 3,308,975 | 1,701,166 | 3,068,110 | 1,219,450 | [Additional Information](index=3&type=section&id=Additional_Information) [Investor and Media Contacts](index=3&type=section&id=Investor_and_Media_Contacts) This section provides contact information for Smartkem's CFO, Head of Communications, and U.S. Investor Relations - Contact details provided for Smartkem's Chief Financial Officer (Barbra Keck), Head of Communications (Selena Kirkwood), and U.S. Investor Relations (David Barnard, Alliance Advisors)[10](index=10&type=chunk)

Core Insights - Smartkem is advancing its proprietary organic thin-film transistors (OTFTs) aimed at revolutionizing display technologies, particularly microLED displays, which are projected to grow from $150 million in 2024 to over $4 billion by 2031 [3][6] Business Developments - In Q3 2024, Smartkem entered a joint development agreement with Chip Foundation to create microLED-based backlight technology for LCDs, enhancing collaborations with major display manufacturers [2][5] - The company showcased its innovations at various international forums, emphasizing the advantages of microLED displays, including durability and brightness [5] Financial Performance - As of September 30, 2024, Smartkem reported cash and cash equivalents of $1.8 million, a decrease from $8.8 million at the end of 2023 [6][10] - Operating expenses for Q3 2024 were $3.0 million, up from $2.7 million in the same period of 2023, while revenues were nil compared to $3,000 in Q3 2023 [6][12] - The net loss for Q3 2024 was $2.8 million, slightly improved from a loss of $3.0 million in Q3 2023 [12][13] Future Outlook - The company aims to secure qualifications and design wins in 2025 to boost the adoption of advanced display technologies [4]