Vivoryon Therapeutics NV (LTS:0R3M)

Half Year 2026 Vivoryon Therapeutics NV Earnings Call Transcript

Aug 6, 2026 / 01:00 PM GMT

Release Date Price: €1.22 (+2.97%)

Transcript

Key Points

Positve

Vivoryon Therapeutics NV (WBO:VVYN) is in advanced term sheet negotiations for a potential licensing agreement for its lead drug candidate, varoglutamstat, with a pharmaceutical/biotech company, with expectations of completion in the coming weeks.
A specialist kidney-focused investor is independently assessing the program for a potential investment, with updates expected within weeks, adding another potential funding avenue.
New preclinical data reveals a third mechanism of action for varoglutamstat: activation of the protective HIF pathway, which could reverse capillary rarefaction, improve oxygenation, and reduce fibrosis in the kidney.
The company has compelling clinical data showing varoglutamstat's beneficial effect on kidney function, particularly in high-risk diabetic patients with lower baseline kidney function, supporting its potential as a first-in-class oral therapy.
The company has a strong financial discipline, with R&D expenses and net loss decreasing significantly in H1 2026 (net loss of EUR3.4 million vs. EUR5.5 million in H1 2025), and has clinical trial material ready with a long shelf life to support a Phase 2B study.
Management is confident in the drug's blockbuster potential, citing that current standard-of-care drugs for diabetic kidney disease have reached over $1 billion in sales despite having lower efficacy than varoglutamstat's observed profile.

Negative

The company's cash runway only extends into Q4 2026, and it does not include any funds from the standby equity purchase agreement, creating significant near-term financial uncertainty.
There is no guarantee that the advanced licensing negotiations or the potential investment from the kidney-focused investor will be successfully completed, as management explicitly cautioned.
Management declined to provide details on the structure of the potential licensing deal, including whether it would allow the company to conduct the Phase 2B study or if it would be entirely in the partner's hands, leaving significant uncertainty for investors.
The company has not yet decided on future fundraising plans, and it is unclear whether any future capital increase would be contingent on signing a licensing deal, adding to the financial overhang.
The company is unable to provide an estimated peak sales potential for varoglutamstat, despite claiming blockbuster potential, and deferred to external analyst estimates, which may not be reliable.
The HIF pathway findings are described as 'new' and 'in its infancy' in the scientific community, and the company has not yet fully elaborated on whether the endothelial benefit is a direct driver or a downstream consequence, indicating the mechanism is not fully validated.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

VVY.AS - Vivoryon Therapeutics NV
Half Year 2026 Vivoryon Therapeutics NV Earnings Call
Aug 06, 2026 / 01:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good day and thank you for standing by. Welcome to the Vivorion Therapeutics 2026 H1 results. At this time, all participants are in a listen-only mode. After this previous presentation, there will be a question-and-answer session.

To ask a question during the session, you will need to press star one on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star one and one again.

Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Julian Ogubor. Please go ahead.

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