BioArctic Interim Report for the period October - December 2025

Core Insights - BioArctic reported a transformative year with record financial results, including an operating profit exceeding SEK 1.2 billion and a doubling of cash position [1][2] - The company proposed a dividend of SEK 2.00 per share for the financial year 2025, reflecting its strong financial position [2] Financial Summary - Cash and cash equivalents and short-term investments at the end of the period amounted to SEK 2,190.4 million, up from SEK 778.9 million [1] - Cash flow from operating activities was SEK 313.3 million, compared to a negative SEK 27.4 million in the previous year [1] - Earnings per share before and after dilution were SEK -0.10, improving from SEK -0.36 [1] - Profit for the period was SEK -8.8 million, an improvement from SEK -31.5 million [1] - Operating profit was SEK 33.2 million, compared to SEK -53.5 million in the previous year [1] - Net revenues reached SEK 184.0 million, up from SEK 101.2 million, with SEK 127.0 million in royalties from Leqembi [1] Product Development and Regulatory Updates - Leqembi was approved in over 50 markets, with sales growing each quarter; royalty revenues increased by 31% year-on-year despite currency impacts [1] - The subcutaneous version of Leqembi, Leqembi Iqlik, was launched for maintenance treatment in the US, allowing for home administration [1] - Regulatory reviews for Leqembi Iqlik are ongoing in the US, China, and Japan, with priority reviews granted by the FDA and EMA [1] - The company is working to broaden the availability of Leqembi in Nordic countries and is addressing regulatory challenges in Europe [1] Research and Development Initiatives - BioArctic has strengthened its project portfolio with new initiatives in Huntington's disease and Parkinson's disease, alongside advancing existing projects [1] - Candidate drugs for two projects are being prepared for clinical studies, including one in ALS and another in Parkinson-related disorders [1] - The company is investing in its BrainTransporter technology to enhance the delivery of treatments across the blood-brain barrier [1] - Strong interest in BioArctic's technology and projects has been noted, with opportunities for new strategic partnerships anticipated [1]