AdAlta (1AD) H2 2024 earnings summary

Executive summary

• Advanced transformation to a multi-product company, focusing on i-body®-enabled therapeutics and commercial partnerships.

• Completed Phase I clinical development of lead candidate AD-214, progressing toward Phase II trials for fibrotic diseases.

• Established AdSolis and AdCella subsidiaries to drive clinical pipeline expansion and cellular immunotherapy strategies.

• Raised $6.6m in capital, securing additional financing options and strengthening the balance sheet.

Financial highlights

• Total revenue and other income: $1.78m in FY2024, down from $3.53m in FY2023.

• Net loss after tax: $5.38m (FY2023: $4.85m).

• R&D tax incentive income: $1.74m (FY2023: $2.88m).

• Cash at year-end: $3.13m (FY2023: $4.79m).

• Raised $6.62m from equity, options, and investment facilities.

Outlook and guidance

• Targeting non-dilutive financing or licensing for AD-214 to enable Phase II studies.

• Aiming to license initial cellular immunotherapy assets for AdCella.

• Anticipating results from in vivo proof-of-concept studies and commencement of new i-body® discovery programs.