ExpreS2ion Biotech – Presentation of Q3 2026 Interim Report

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ExpreS2ion is expected to release its Q3 2026 interim report on 12 November 2026. Later the same day at 10.00, ExpreS2ion’s CEO Bent U. Frandsen and CFO Keith Alexander will present the results and answer questions in a live online event.

Q2 2026 saw total operating income rise 238% to KSEK 11,547, driven primarily by grant income from the VICI-Disease programme, while CRO and licensing net sales increased 31% to KSEK 2,011. The operating loss was broadly unchanged at KSEK 11,972 and the net loss improved 3% to KSEK 9,701, helped by higher accrued R&D tax credits. R&D expenses rose 483% to KSEK 11,355, largely reflecting VICI-Disease subcontracting costs that are fully offset by corresponding grant income, with management indicating that this activity, and the associated income and cost, is expected to be materially lower going forward. Cash stood at SEK 34.4m at the end of June.

On the clinical side, the third scheduled DSMB meeting in the Phase I trial of ES2B-C001 concluded without objection, with no dose-limiting toxicities and no related serious adverse events across all three dose cohorts. Anti-HER2 antibody responses had been reported in 12 of 13 evaluable patients, with every patient who completed dosing responding, and three additional patients are being added at the 450 µg dose level to deepen the dataset ahead of the primary readout. Management reiterated the end-2026 Phase I readout and indicated that a more detailed preliminary Phase II design is expected around the time of that readout.

Since the H1 report, the news flow has mainly been on the capital side. ExpreS2ion obtained a guarantee commitment for the TO 13 warrant programme and entered into a SEK 50m put option agreement with Alumni Capital in September. Only around 1% of the TO 13 warrants were exercised, after which the EGM on 1 October approved a new issue authorisation and the Board on 5 October resolved on a directed issue of 11,869,138 shares to Vator Securities at SEK 1.60 per share, alongside a set-off issue of 3,627,627 shares as guarantee compensation. The proceeds from the directed issue fall in Q4 and will therefore not be reflected in the Q3 cash position.

Beyond the Q3 figures, focus could also extend to confirmation of the communicated timelines for ES2B-C001, where the next scheduled data point is the primary Phase I readout targeted for end-2026, the funding position into 2027 including potential use of the Alumni Capital facility, progress on the Nipah programme following the appointment of Northway Biotech as CDMO, and the partnering outlook for ES2B-C001.

Disclaimer: HC Andersen Capital receives payment from ExpreS2ion Biotech for a Digital IR/Corporate Visibility subscription agreement. /Michael Friis, 13.49, 08/07-2026.