Poltreg (PTG) Q2 2026 earnings summary

Executive summary

• Continued focus on advanced clinical-stage Treg cell therapies for autoimmune diseases, with ongoing R&D and no significant revenue generation beyond hospital exemption sales.

• Maintained strong cash position, supported by public grants and a successful share issue in March 2026.

• Strategic milestones include new R&D project funding and a regulatory partnership for EU drug registration.

Financial highlights

• Revenue from product sales remained flat at 240k PLN for H1 2026, unchanged year-over-year.

• Net loss for H1 2026 was 12,429k PLN, an improvement from 13,968k PLN in H1 2025.

• Operating loss narrowed to 12,094k PLN from 14,162k PLN year-over-year.

• Cash and equivalents at period end were 22,637k PLN, up from 17,785k PLN at 2025 year-end.

• Total assets at 30 June 2026 were 75,142k PLN, down from 87,313k PLN a year earlier.

Outlook and guidance

• Management forecasts the need for additional funding to support full R&D plans, with a planned share issue as the primary source.

• Flexibility in project spending and cost control measures are in place to extend liquidity if needed.

• No material uncertainty identified regarding going concern for the forecast period.