DexTech Medical (DEX) Q4 25/26 earnings summary

Executive summary

• Completed Phase I/IIa clinical study with OsteoDex in relapsed, treatment-resistant multiple myeloma; all patients achieved stable disease, with over 70% maintaining stability post-treatment.

• No significant ODX-related adverse events or toxicity observed; primary and secondary study endpoints met.

• Ongoing follow-up for patients in highest dose group; final clinical study report postponed until all follow-up data are available.

• ODX mechanism of action confirmed in both multiple myeloma and mCRPC, supporting broader oncology applications.

Financial highlights

• Net sales were MSEK 0.0 for both the quarter and full year, unchanged from prior periods.

• Operating profit for Q4 was MSEK -1.9 (vs. -1.6 prior year); full year operating profit was MSEK -6.6 (vs. -5.3 prior year).

• Earnings per share for Q4 was SEK -0.10 (vs. -0.08); full year SEK -0.35 (vs. -0.26).

• Cash and cash equivalents at year-end were MSEK 8.6 (vs. 14.7 prior year).

• Equity at year-end was MSEK 18.3 (vs. 24.8 prior year); equity ratio 97% (vs. 99%).

Outlook and guidance

• Current liquidity is sufficient to finance operations until at least the end of 2028.

• Continued focus on out-licensing and partnership opportunities for OsteoDex and pipeline assets.

• Ongoing efforts to establish strategic partnerships for further clinical development.