Q3 2025 Zelluna ASA Earnings Call Transcript
Key Points
- Zelluna ASA (OSL:ZLNA) successfully raised 58 million NOK, demonstrating strong support from shareholders and confidence in their platform.
- The company is advancing its TCRNK platform into a phase one clinical trial, with patient data expected in mid-2026.
- Zelluna ASA has a unique and unprecedented patent position, potentially holding significant value if clinical benefits are demonstrated.
- The company has locked down a scalable manufacturing process, allowing for the production of hundreds of doses from a single batch.
- Positive feedback from the MHRA de-risks the path to clinical trials in the UK, clearing the way for a clinical trial application by year-end.
- The company reported higher payroll and restructuring costs due to the business combination, impacting financials.
- There was an impairment of goodwill amounting to 3.2 million, which was fully written off in the third quarter.
- Operating cash flow was significantly lower than operating profit, mainly due to non-cash costs like goodwill impairment and share option expenses.
- The preclinical package for the KKLC1 program has been delayed to Q3 2026 to allow for comprehensive assessment of newly acquired TCRs.
- The company faces the challenge of proving the efficacy of its TCRNK platform in a competitive cell therapy space with high expectations for early patient data.
Good morning everyone and welcome to Zillua's 3rd quarter business updates and financial results. My name is Nir Hassan, the CEO of Zaluna. Can I have the next slide, please?
And the next one.
Today we'll be going through the key events in the 3rd quarter of 2025.
We'll cover the Zillua TCRNK technology and pipeline, provide a financial updates and summarize at the end.
Can I have the next slide, please?
So firstly, I'm delighted to share that we have successfully raised 58 million knock as was announced last night. This is an incredible achievement. We have strong support from existing shareholders, management, and board members. And I think the race demonstrates the confidence underpinning the science of the platform and the caliber of the team and the progress and the execution we have made to date.
It's truly a pivotal moment at a time which is a difficult time in biotech to be able to raise in this time is pivotal not only raise itself but for what it means for the company. I'd like to take
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