Core Points - Viridien has published its 2024 Universal Registration Document, which was filed with the French Financial Markets Authority on March 6, 2025 [2] - The document is available in the European Single Electronic Format and can be accessed on both Viridien's and the AMF's websites [2][5] Company Overview - Viridien is a technology and data company focused on sustainable solutions, employing approximately 3,400 people globally and listed on Euronext Paris [3] - The company aims to address complex challenges in natural resources, digital technology, energy transition, and infrastructure [3] Document Contents - The 2024 Universal Registration Document includes the annual financial report, corporate governance report, share buyback program details, statutory auditors' reports, management report with sustainability information, and certification report on sustainability and taxonomy [5]

Core Insights - In 2024, Viridien achieved revenue targets while exceeding profitability and cash generation goals, driven by strong performance in Geoscience and Earth Data, alongside operational efficiency in Sensing & Monitoring [3][5] - The company is on track to generate approximately $100 million in net cash flow in 2025, supported by a robust backlog in Geoscience and a solid project pipeline in Earth Data [4][5] Financial Performance - For FY 2024, Viridien reported total revenue of $1,117 million, a slight decrease of 1% compared to the previous year, while adjusted EBITDA increased by 14% to $455 million [2][5] - Net cash flow for FY 2024 reached $56 million, a significant increase of 73% from the previous year, exceeding initial targets [2][5] - The Digital, Data & Environment (DDE) segment saw a revenue increase of 17% to $787 million, with adjusted EBITDA rising by 25% [5][12] Segment Highlights - Geoscience revenue grew by 20% to $404 million, driven by technology differentiation and increased order intakes [5][12] - Earth Data revenue increased by 14% to $383 million, with a notable 27% growth in Q4 [5][12] - Sensing & Monitoring revenue decreased by 27% to $330 million, reflecting the absence of mega crew systems during the year [5][12] Strategic Outlook - Viridien plans to strengthen its technology leadership in core markets while developing new business opportunities, particularly in Carbon Sequestration and Minerals & Mining [4][5] - The company anticipates continued improvements in financial performance due to the termination of contractual fees for vessel commitments and progress in restructuring plans [4][5] Market Trends - The offshore exploration market is gaining momentum, particularly in regions like the US Gulf, Brazil, and Norway, with increasing demand for high-end geophysical technologies [6][12] - There is a growing interest in Carbon Capture and Sequestration solutions, driven by oil and gas operators' investments to reduce carbon emissions [6][12]

Core Insights - The partnership between Viridien and Materials Nexus Ltd. (Matnex) aims to enhance Matnex's computational capacity for innovative materials discovery and production [1][2] - This collaboration focuses on accelerating innovation while minimizing environmental impacts in critical areas for the net-zero transition, including energy generation, storage, transport, and sustainable computing [2] - The use of Viridien's Outcome-as-a-Service model signifies a transformative approach in materials discovery, leveraging AI and high-performance computing (HPC) to industrialize Matnex's innovation pipeline [3] Company Overview - Viridien is an advanced technology and digital company dedicated to addressing complex challenges in natural resources, energy transition, and infrastructure, employing approximately 3,500 people globally [5] - The company is publicly listed on Euronext Paris SA under the ticker VIRI [5] Leadership Statements - Dr. Jonathan Bean, CEO of Matnex, emphasized that the partnership represents a significant advancement in materials science, enabling the tackling of complex challenges through large-scale AI utilization [4] - Chris Page, EVP of New Business Development at Viridien, highlighted the collaboration's potential to deliver faster, more accurate results while reducing R&D and operational costs, thus accelerating scientific discoveries [4]

Company Overview - Viridien is an advanced technology, digital, and Earth data company focused on sustainable solutions for natural resource, digital, energy transition, and infrastructure challenges [3] - The company employs approximately 3,500 people globally and is listed on Euronext Paris SA under the ticker VIRI [3] Financial Results Announcement - Viridien will announce its fourth quarter and full year 2024 financial results on February 27, 2025, after market close [1] - A conference call for analysts is scheduled for the same day at 6:00 PM CET, with a replay available for 12 months on the company's website [2][5] Communication and Contact Information - Investors can register for the conference call to receive dial-in details or participate in a live webcast [2] - Investor relations contact is Jean-Baptiste Roussille, available via phone and email for inquiries [4]

Contract Award - Viridien has been awarded a three-year contract by Petroleum Development Oman (PDO) to provide advanced land seismic imaging services at its dedicated processing center (DPC) in Muscat, Oman [1] - This contract continues a longstanding collaborative partnership between Viridien and PDO [1] Technical Expertise and Challenges - Viridien's geophysical experts at the Muscat DPC, the company's largest worldwide, will deploy advanced proprietary algorithms to improve image quality for PDO's seismic data [2] - Oman land data is characterized by complex near-surface conditions and strong multiples, requiring high-resolution velocity model building and elastic full-waveform inversion [2] - Viridien will address new challenges such as increased data density, developing land 4D monitoring, and reinforcing synergies between seismic imaging and reservoir characterization [2] - Viridien's HPC & Cloud Solutions specialists will deliver the necessary High-Performance Computing (HPC) capacity to implement advanced workflows [2] In-Country Value Initiatives - Viridien remains committed to its In-Country Value initiatives in Oman, promoting talent development, education, and outreach through close ties with local universities [3] CEO Statement - Sophie Zurquiyah, CEO of Viridien, congratulated the Muscat DPC team for their technical excellence and outstanding service, which led to the new contract award [4] - Viridien will continue to advance its geoscience and HPC technologies to address PDO's unique E&P challenges and support their business objectives [4] Company Overview - Viridien is an advanced technology, digital, and Earth data company that pushes the boundaries of science for a more prosperous and sustainable future [4] - The company employs around 3,500 people worldwide and is listed as VIRI on the Euronext Paris SA [4]

Core Insights - The company achieved revenue and EBITDA in line with guidance, with net cash flow for 2024 estimated at approximately $50 million, exceeding initial expectations of $30 million [1][3][7] - The CEO highlighted the successful implementation of the financial roadmap and the achievement of set goals for 2024 [2][5] - The strong performance was driven by the Data, Digital & Energy Transition (DDE) segment, particularly through Geoscience (GEO) activities and the launch of the Laconia project [4][5] Financial Performance - Full year 2024 revenue is estimated to be slightly above $1,100 million, with EBITDA around $430 million [7] - The company repurchased $60 million of its own bonds, doubling the initial commitment of $30 million, and improved its credit rating from S&P [3][7] - Net cash generation exceeded the initial target due to earlier than expected client collections, leading to a net debt of approximately $930 million after IFRS 16 [7] Future Outlook - The company reiterated its target of generating around $100 million in net cash flow for 2025 [5][7] - Continued strong activity in GEO and a robust pipeline of projects are expected to support future growth [7] - The revolving credit facility has been extended until October 2026 as part of the preparation for refinancing the 2027 bonds [3][7]

Group 1 - The company is a French société anonyme with a share capital of €7,161,465 [2] - As of December 31, 2024, the total number of issued shares is 7,161,465, with actual voting rights at 7,186,772 and theoretical voting rights at 7,187,021 [2] - All shares have the same voting rights, except for treasury shares which do not have voting rights and registered shares held for more than two years, which have double voting rights [2]

Governance Changes - The governance structure of Viridien is evolving with a temporary unification of the roles of Chairman and Chief Executive Officer under Sophie ZURQUIYAH, effective April 30, 2025 [1][3] - Philippe SALLE will be appointed as Lead Director, subject to the renewal of his mandate as a director at the General Meeting on April 30, 2025 [1][2] Succession Planning - The Board has decided to implement a succession plan, allowing Sophie ZURQUIYAH to assume the combined roles of Chairwoman and Chief Executive Officer for a transitional period until the General Meeting of 2026 [3][4] - The Board aims to restore a separate governance structure by 2026 [4] Acknowledgments - Colette LEWINER, Chair of the Appointment, Remuneration and Governance Committee, expressed gratitude to Philippe SALLE for his contributions since 2018 and acknowledged Sophie ZURQUIYAH's leadership in the ongoing transformation of the Group [4] Company Overview - Viridien is an advanced technology, digital, and Earth data company focused on sustainable solutions, employing around 3,500 people globally and listed on Euronext Paris SA [5]

Company Overview - The company is a pre-revenue, development-stage biopharmaceutical firm focused on developing new medicines for pain and fatigue-related disorders, with a pipeline centered on NaV 1.7 modulation and combination antiviral therapies [88]. Product Development - The lead development candidate, Halneuron®, has shown statistically significant pain reduction in a Phase 2 study for cancer-related pain, with an interim efficacy readout expected in the second half of 2025 [90]. - The antiviral program includes IMC-1 and IMC-2, with top-line data from an ongoing IMC-2 Phase 2 study for Long-COVID expected in November 2024 [88]. - Halneuron® has received fast track status from the FDA for the treatment of chemotherapy-induced neuropathic pain (CINP) [92]. - IMC-1 is ready for Phase 3 development for fibromyalgia, with agreed-upon program requirements from the FDA [94]. Corporate Actions - The company completed a Combination with Pharmagesic on October 7, 2024, acquiring 100% of its common shares, which is expected to enhance its asset pipeline [97]. - Under the terms of the Combination, the company issued 211,383 shares of common stock and 2,108.3854 shares of Series A Non-Voting Convertible Preferred Stock to Sealbond, representing 19.99% of the outstanding shares [98]. - The Company changed its name from "Virios Therapeutics, Inc." to "Dogwood Therapeutics, Inc." effective October 9, 2024, and began trading under the ticker symbol "DWTX" on Nasdaq [119]. - A reverse stock split was executed, converting every 25 shares of Common Stock into one share, resulting in 1,110,317 outstanding shares prior to the Exchange Agreement [121]. Financial Performance - The Company incurred net losses of $2,280,684 and $4,621,852 for the three and nine months ended September 30, 2024, respectively, compared to $1,235,074 and $4,192,842 for the same periods in 2023 [132]. - As of September 30, 2024, the company had an accumulated deficit of $66,091,074 and cash of $2,039,819 [132]. - Net cash used in operations for the nine months ended September 30, 2024, was $2,659,297, compared to $3,401,318 for the same period in 2023, indicating a 21.7% improvement [143]. - Net cash provided by financing activities during the nine months ended September 30, 2024, was $1,382,170, compared to $1,156,443 in the same period of 2023 [145]. - The company raised gross proceeds of $1.7 million from a public offering on May 22, 2024, with net proceeds of approximately $1.4 million after expenses [135]. Expenses and Funding - Research and development expenses increased by $0.2 million for the three months ended September 30, 2024, primarily due to a $0.3 million increase associated with a grant to BHC for a proof-of-concept study [129]. - General and administrative expenses increased by $0.9 million (70.8%) for the three months ended September 30, 2024, compared to the prior year period [130]. - Research and development expenses for the three months ended September 30, 2024, were $535,162, up from $374,200 in the same period of 2023, representing a 43.0% increase [130]. - The company plans to explore various funding sources to support the Phase 2b study for IMC-2, contingent on positive results from the ongoing study [96]. - The Company plans to secure an additional $3,000,000 in loan proceeds in February 2025 to fund operations through the end of 2025 [140]. Debt and Financing - The Company entered into a Loan Agreement for a total principal amount of $19,500,000, with $16,500,000 disbursed on October 7, 2024, and $3,000,000 to be disbursed on February 18, 2025 [106]. - There were no debt financings during the nine months ended September 30, 2024, and no debt outstanding as of September 30, 2024 [138]. - A contingent value rights agreement was established, allowing holders to receive 87.75% of any upfront or milestone payments received by the company [103]. Compliance and Governance - The Company received a letter from Nasdaq on November 2, 2023, notifying it of non-compliance with the minimum bid price requirement, but regained compliance by October 29, 2024 [127][128]. - Holders of Series A Preferred Stock are entitled to receive payment-in-kind dividends at a rate of 5.0% per annum, payable in shares of Series A Preferred Stock [113]. - The Company has agreed to indemnify holders of Common Stock and Series A Preferred Stock under the Registration Rights Agreement [110]. - The Company will file a Form S-1 registration statement within 60 days if requested by holders of at least 40% of Registrable Securities [107]. - The anticipated aggregate offering price for a Form S-3 registration statement must be at least $7,500,000 if requested by holders of at least 30% of Registrable Securities [108]. Operational Status - The company has experienced negative cash flows from operations since inception and will require additional financing to fund ongoing clinical trials and operations beyond 2025 [133]. - The company is not currently involved in any material pending or ongoing litigation that could impact operations [155]. - No changes in internal control over financial reporting were identified during the quarter that materially affected the company's internal controls [153].

Financial Performance - The net loss for Q3 2024 was $2.3 million, or $2.05 per share, compared to a net loss of $1.2 million, or $1.62 per share in Q3 2023[10]. - General and administrative expenses rose by $0.9 million in Q3 2024 compared to Q3 2023, mainly due to higher legal and professional fees of $1.0 million related to the business combination[9]. - Research and development expenses increased by $0.2 million in Q3 2024 compared to Q3 2023, primarily due to a $0.3 million increase in expenses related to a grant for a Long-COVID study[8]. - The company has a current cash balance of $2.0 million as of September 30, 2024, which is insufficient to fund operations for the next 12 months without securing additional financing[11]. - Total liabilities as of September 30, 2024, were $1.33 million, compared to $0.36 million as of December 31, 2023[17]. - Total stockholders' equity decreased to $949,431 as of September 30, 2024, from $3.81 million as of December 31, 2023[17]. Funding and Financing - Dogwood Therapeutics raised $19.5 million in committed debt financing, with $16.5 million funded as of October 7, 2024, and an additional $3.0 million expected in Q1 2025[4]. Clinical Development - Top-line results from the ongoing IMC-2 Long-COVID Phase 2a study are expected by mid-November 2024[5]. - Interim data from the Halneuron® Phase 2b study for chemotherapy-induced neuropathic pain is anticipated in the second half of 2025[6]. - Dogwood's pipeline includes three late-stage assets: Halneuron® in Phase 2b, IMC-1 ready for Phase 3, and IMC-2 in Phase 2[3].