Stayble Therapeutics (STABL) Q3 2024 earnings summary

Executive summary

• Positive phase 1b study results for STA363 in disc herniation, showing safety and significant disc volume reduction compared to placebo, supporting further development and partnership discussions.

• European and South African patent progress for STA363, with EPO issuing an "Intention to Grant" and South Africa granting the first patent.

• New CFO, Erik Kullgren, appointed effective August 2024.

Financial highlights

• Operating costs for Q3 2024 were SEK 2,357k, down from SEK 6,864k in Q3 2023; for the nine months, SEK 9,974k vs. SEK 17,506k prior year.

• EBIT for Q3 2024 was SEK -2,339k (Q3 2023: SEK -6,861k); nine months EBIT SEK -9,589k (2023: SEK -17,497k).

• Net result for Q3 2024 was SEK -2,335k (Q3 2023: SEK -7,043k); nine months SEK -9,404k (2023: SEK -17,449k).

• Cash and cash equivalents at period end were SEK 3,594k (Q3 2023: SEK 21,293k).

• Share capital increased to 43,720,903 shares after a new issue in June 2024.

Outlook and guidance

• TO2 option, in-the-money, could provide SEK 3m in Q1 2025, extending cash runway into Q3 2025.

• Focus on phase 2 study planning and intensified partnership activities following positive phase 1b results.