Pharma Equity Group (PEG) Investor Update summary

Strategic focus and business model

• Expanding investment scope to include MedTech and Digital Health for broader portfolio diversification and balanced investment timelines.

• Emphasizing early-stage pharma innovation and short research phases with early exits, often via licensing.

• MedTech investments target post- or near-revenue scalable tech with lower technical and regulatory risk and faster exits.

• Business model prioritizes de-risked value creation through API repositioning, rerouting, and commercialization post-IIT studies.

Financial performance and 2025 guidance

• 2025 revenue guidance set at 11 mDKK, with expected loss before tax (EBT) between 4-7 mDKK.

• Research and development expenses remain significant, with 8.8 mDKK in 2024.

• Cash position stable at 4.2 mDKK as of the latest reporting period.

• Market value stands at 128.9 mDKK, with a share price of 0.105 DKK as of June 2025.

• Analyst price targets for 2025 range from 0.28 to 0.781 DKK per share.

Pipeline and clinical progress

• Portfolio includes several drug candidates targeting unmet needs in bacterial peritonitis, colorectal cancer, and pouchitis.

• RNX-011 and RNX-041 are approaching license agreements, with RNX-011 entering a Phase II IIT trial in Q2 2025.

• RNX-051 targets colorectal cancer prevention and is positioned as an adjuvant therapy post-adenoma removal.

• RNX-041 addresses pouchitis and Crohn's disease, with ongoing proof-of-concept studies showing good tolerability.