Core Insights - Zelluna has announced its third quarter 2025 results, highlighting significant advancements in its clinical development and financial status [1][6]. Business Update - Positive feedback was received from the UK's Medicines and Healthcare products Regulatory Agency (MHRA), aligning the clinical strategy for ZI-MA4-1 and supporting the upcoming Clinical Trial Application (CTA) submission [2]. - Preparations for the first-in-human trial of ZI-MA4-1 are progressing, with leading UK cancer centres engaged and a proposed Chief Investigator appointed [3]. - GMP manufacturing of clinical material for the planned Phase I trial was initiated in July 2025, marking a key step in clinical readiness [4]. - A strategic acquisition during Q3 expanded Zelluna's pipeline with a portfolio of TCRs targeting KKLC1, complementing existing targets and broadening patient reach [5]. Financial Highlights - Total operating expenses for Q3 2025 were MNOK 39.7, with a year-to-date total of MNOK 101.0. The total loss for the period was MNOK 39.3, and year-to-date loss was MNOK 98.7 [7]. - Net negative cash flow from operations was MNOK 29.0 in Q3 2025, with a net decrease in cash and cash equivalents of MNOK 28.9 during the same period. Cash and cash equivalents stood at MNOK 47.2 as of 30 September 2025, expected to provide a financial runway into Q2 2026 [7].