Dimerix (DXB) H2 2025 earnings summary

Executive summary

• Achieved strong growth through strategic execution, highlighted by major licensing deals for lead drug candidate DMX-200 (QYTOVRAⓇ), including agreements in the US and Japan valued up to AU$1.4 billion in potential payments plus royalties.

• Received over AU$65 million in upfront and milestone payments, significantly strengthening cash reserves and balance sheet.

• Advanced the pivotal ACTION3 Phase 3 clinical trial for FSGS, with over 190 global sites activated and positive regulatory feedback from the FDA on trial endpoints.

• Expanded ESG initiatives, improved operational resilience, and maintained a focus on innovation and patient outcomes.

Financial highlights

• Total revenue for FY25 was $5.6 million, primarily from license income amortised over contract terms and a $4.3 million milestone payment.

• Net loss after tax reduced to $13.3 million (FY24: $17.1 million), reflecting increased R&D and business development expenses offset by milestone income.

• Cash reserves at year-end were $68.3 million, up from $22.1 million in FY24.

• R&D expenditure increased 29% year-over-year to $27.3 million.

• $20.3 million raised from share issues and $7.5 million from option exercises.

Outlook and guidance

• Full recruitment of 286 adult patients for the ACTION3 Phase 3 trial expected in FY26.

• Potential for accelerated or conditional marketing applications, subject to interim analysis and regulatory feedback.

• Additional pipeline opportunities and new licensing partners targeted for FY26.

• Continued focus on sustainable value creation, operational efficiency, and global expansion.