Pharma Equity Group (PEG) Q4 2024 earnings summary

Executive summary

• Achieved a key patent milestone in Japan for RNX-051, expanding protection to both Europe and Japan, supporting future licensing negotiations.

• Prioritized clinical focus on three drug candidates: RNX-051 (colorectal cancer), RNX-011 (peritonitis), and RNX-041 (IBD/pouchitis).

• Leadership changes announced, with new CEOs for both the parent and subsidiary effective April 2025.

• Intensified licensing partner discussions for RNX-051 in early 2025.

Financial highlights

• Reported a net loss before tax of DKK 26.2 million for 2024, in line with guidance of DKK 24–29 million.

• No revenue recognized in 2024.

• Cash and cash equivalents at year-end totaled DKK 4.2 million.

• Equity increased to DKK 48.9 million at year-end, up from DKK 25.3 million in 2023.

• Capital increase of DKK 51.1 million completed during the year.

Outlook and guidance

• 2025 guidance projects revenue of MDKK 4–7 and a loss before tax of MDKK 11.

• Guidance excludes any gains or losses related to the Portinho S.A. receivable.