Lytix Biopharma ASA · OSL:LYTIX
Lytix Biopharma ASA — Q2 2025 Earnings Presentation
33 slides from Lytix Biopharma ASA's earnings presentation, Aug 28, 2025
Slide 1: Developing the future of cancer treatment
Developing the future of cancer treatment Fighting cancer by local killing of tumor cells and systemic activation of the immune system Q2 2025 results presentation 28.08.2025 1
Slide 2: Disclaimer
Disclaimer This presentation (the "Presentation") has been prepared by Lytix Biopharma AS ("Company") exclusively for information purposes. The Presentation is being made only to, and is only directed at, persons to whom such presentation may lawfully be communicated (’relevant persons’). Any person
Slide 3: Presenting team
Presenting team Øystein Rekdal, CEO Co-founder of Lytix Biopharma, Dr. Rekdal has served as CEO twice in Lytix, most recently since 2019. With a PhD in tumor immunology, his expertise in anticancer molecules from host defense peptides underpins Lytix's technology. He is a regular speaker at internat
Slide 4: Company introduction
Company introduction DC lytix
Slide 5: Lytix Biopharma approaching commercialization
Lytix Biopharma approaching commercialization Novel, unique and Robust portfolio of Strong phase II results in innovative technology clinical studies basal cell carcinoma Lytix technology already clinically proven Targeting different types of solid Led by licensing partner Verrica cancers Pharmaceut
Slide 6: Lytix addresses major shortcomings in current cancer immunotherapy
Lytix addresses major shortcomings in current cancer immunotherapy MALIGNANT MELANOMA CHALLENGE Majority of cancer patients lack active immune cells in the tumors and therefore don’t respond to current immunotherapy NON- RESPONDERS Lytix technology enhances the number of SOLUTION 60% 67% No/few immu
Slide 7: Lytix's solution works through two phases
Lytix’s solution works through two phases; killing tumors locally and activating a systemic broad immune response 7
Slide 8: Q2 Highlights
Q2 Highlights DC lytix
Slide 9: Highlights for the second quarter (I/II)
Highlights for the second quarter (I/II) - And post quarter end Verrica partnership – advancing LTX-315 toward Phase III in BCC • Successful FDA End-of-Phase II meeting confirmed alignment on a pivotal Phase III program. • Preparations for Phase III are ongoing, including exploration of strategic, n
Slide 10: Highlights for the second quarter (II/II)
Highlights for the second quarter (II/II) - And post quarter end LTX-401 – pipeline progress • Strong preclinical results and further optimization is ongoing to ensure that the best formulation is selected for clinical development • Future development strategy under review to determine optimal timin
Slide 11: Clinical and Operational update
Clinical and Operational update
Slide 12: Clinical progress
Clinical progress Product candidate Study/partner Indication Discovery Phase I Phase II Phase III Melanoma patients progressed on checkpoint ATLAS-IT-05 inhibitors Phase II In combination with Keytruda® Verrica LTX-315 Basal cell carcinoma Phase II Phase III TBD Pharmaceuticals NeoLIPA Neoadjuvant E
Slide 13: Phase II study: Basal cell carcinoma (Verrica Pharmaceuticals)
Clinical and Operational update 1 Phase II study: Basal cell carcinoma (Verrica Pharmaceuticals)
Slide 14: LTX-315 in BCC: Phase III study the next step
Study: Verrica Ph. II Completed LTX-315 in BCC: Phase III study the next step Current treatment options are invasive Before surgery After surgery ~95 % of BCC patients treated with surgery Calculated Overall Complete Size reduction Objective reduction of clearance in patients with Response Rate tumo
Slide 15: LTX-315 in BCC: A major commercial opportunity
LTX-315 in BCC: A major commercial opportunity for both Lytix and Verrica Pharmaceuticals Following our End-of-Phase 2 meeting with the FDA, we now have REGULATORY PATH AND additional clarity and broad NEXT STEPS agreement on advancing this unique and promising therapy into a pivotal Phase III • Ver
Slide 16: Phase II study: Late stage melanoma (ATLAS-IT-05)
Clinical and Operational update 1 Phase II study: Late stage melanoma (ATLAS-IT-05)
Slide 17: ATLAS-IT-05: Promising effects of LTX-315 in late-stage melanoma
Study: ATLAS-IT-05: Promising effects of LTX-315 ATLAS-IT-05 Completed in heavily pre-treated patients with late- stage melanoma Complete regression in non-injected tumors Complete regression in injected tumors ! Positive interim data from Before Treatment 20 evaluable patients • Disease control in
Slide 18: ATLAS-IT-05: Path forward
Study: ATLAS-IT-05 Completed ATLAS-IT-05: Path forward From Late-Stage Validation to Neoadjuvant Opportunity Stabilization of disease for over a year in this Strong clinical responses in late-stage melanoma enabled us to move LTX-315 into earlier-stage patients population gives more patients longer
Slide 19: New phase II study: Earlier stage melanoma (NeoLIPA)
Clinical and Operational update 1 New phase II study: Earlier stage melanoma (NeoLIPA)
Slide 20: NeoLIPA – Expanding the potential of LTX-315
Study: NeoLIPA Ongoing NeoLIPA – Expanding the potential of LTX-315 Investigator Initiated Trial Rationale • Early-stage melanoma patients have less advanced disease and a more robust immune system, increasing the likelihood of response to Lytix’s immunotherapy • With positive NeoLIPA results, LTX-3
Slide 21: LTX-401
Clinical and Operational update 1 LTX-401
Slide 22: LTX-401 – a small oncolytic molecule with large commercial potential
LTX-401 – a small oncolytic molecule with a large commercial potential, including deep-seated cancer LTX-401 approaching Small molecule clinical stage Similar mode-of-action as LTX-315 with superior effects in liver cancer • Proprietary asset of Lytix models • Partly validated by LTX- Significant co
Slide 23: Financials and outlook
Financials and outlook DC lytix
Slide 24: Key figures – profit and loss
Key figures – profit and loss Amounts in NOK ‘000 Q2 2025 Q2 2024 FY 2024 Total operating income - - 11,134 Total operating expenses (5,157) (21,540) (107,029) Loss from operations (5,157) (21,540) (95,896) Loss for the period (5,051) (21,435) (94,265) • Net loss for Q2 2025 significantly reduced co
Slide 25: Lean Cost Base and Solid Runway into 2026
Lean Cost Base and Solid Runway into 2026 Total operating expenses Cash and short-term financial investments 130,791 32,998 117,903 100,263 22,537 23,280 21,540 78,767 19,581 20,009* 13,451 60,181 50,548 22,894 43,539 5,157 16,315 12,952 10,643 10,984* 13,170 26,172 6,277 (3,209) Q3 23 Q4 23 Q1 24 Q
Slide 26: Key figures – balance sheet
Key figures – balance sheet Amounts in NOK ‘000 30.06.2025 30.06.2024 31.12.2024 Assets Property, plant and equipment 18 76 42 Right-of-use assets 2,565 2,998 2,589 Trade and other receivables 7,281 14,410 13,113 Short-term financial investments 60,072 - - Cash and cash equivalents 40,191 60,181 130
Slide 27: Lytix Biopharma's roadmap to create shareholder value
Lytix Biopharma’s roadmap to create shareholder value Neoadjuvant melanoma Non-metastatic skin cancer and breast Deep seated cancer LTX-315: Clear path towards LTX-315: Phase II results in LTX-401: Strong preclinical results commercialization, demonstrated NeoLIPA and novel formulation remain throug
Slide 28: Executing on our strategy – upcoming events
Executing on our strategy – upcoming events Lytix Clinical Development ‒ NeoLIPA interim results (Nov 2025) – key inflection point ‒ Completion of ATLAS-IT-05 study (H2 2025) Verrica - BCC ‒ Preparing for pivotal Phase III trial ‒ Exploring non-dilutive funding options ‒ Additional immune/genomic da
Slide 29: Q&A
Q&A DC lytix
Slide 30: Interim financial statements
Interim financial statements
Slide 31: Condensed interim statement of profit and loss
Condensed interim statement of profit and loss Unaudited Unaudited Amounts in NOK thousands Q2 2025 Q2 2024 FY 2024 Revenue - - 11,134 Other operating income - - - Total operating income - - 11,134 Payroll and related expenses (3,546) (4,715) (22,590) Depreciation and amortization expenses (249) (23
Slide 32: Condensed interim statement of financial position
Condensed interim statement of financial position Unaudited Unaudited Amounts in NOK thousands 30.06.2025 30.06.2024 31.12.2024 Assets Non-current assets Property, plant and equipment 18 76 42 Right-of-use assets 2,565 2,998 2,589 Total non-current assets 2,583 3,074 2,631 Current assets Trade and o
Slide 33: Condensed interim statement of cash flows
Condensed interim statement of cash flows Unaudited Unaudited Amounts in NOK thousands Q2 2025 Q2 2024 FY 2024 Cash flows from operating activities Loss for the period (5,051) (21,435) (94,265) Adjustments for: Depreciation of property, plant and equipment 8 17 68 Depreciation of right-of-use assets