Expres2ion Biotech Holding Ab · OMXSTO:EXPRS2
Expres2ion Biotech Holding Ab — Q1 2026 Earnings Presentation
21 slides from Expres2ion Biotech Holding Ab's earnings presentation, May 28, 2026
Slide 1: Interim Report Q1 Webcast
Interim Report Q1 Webcast 28 May 2026 Innovative immunotherapies for a healthier world Hosted by Nasdaq First North: EXPRS2 ExpreS2ion Biotech Holding AB Company reg. no. 559033 - 3729
Slide 2: Agenda
Agenda • Key updates across the quarter • Financial results • Q&A Note: This presentation may contain forward - looking statements; please see disclaimer at end 2
Slide 3: News across Q1 '26
News across Q1 ‘26 Main updates across the pipeline and finance Pipeline: Nipah Virus Platform: Glyco Patent As Nipah Virus Outbreaks in India Re-emerge, ExpreS2ion Strengthens Glyco - ExpreS2ion Selects Northway Biotech as Engineering Platform with Manufacturing Partner for Vaccine Program Publicat
Slide 4: Investment Case
Investment Case Clinical - stage biotech developing immunotherapies and vaccines Lead Asset Platform Strategic Position ExpreS2 protein manufacturing ES2B - C001 HER2 immunotherapy 34% AdaptVac ownership platform Phase I clinical Phase III validated Clear partnering pathway Why invest now? • First-
Slide 5: ES2B-C001: Phase I Clinical Update
ES2B - C001: Phase I Clinical Update Updated Phase I plan strengthens the data package while preserving end - 2026 readout timing Trial design and updated plan Early immunogenicity observations • Design: Open - label Phase I dose escalation • Population: Advanced HER2+ or HER2 - low breast cancer 1
Slide 6: ES2B-C001: Development Strategy
ES2B - C001: Development Strategy Goal: Partnering/Value inflection upon clinical proof of concept — or earlier if signals are strong 2025 2026 2027 2028 2029 Phase I data maturation in 2026 Phase II: Proof of Concept in Breast Cancer • Multiple multi - billion Industry dollar partnership deals prec
Slide 7: Malaria Vaccine Trial Overview
Malaria Vaccine Trial Overview Trial completions and data highlights across ExpreS2 - enabled Oxford - led programmes Vaccines in trial Trial Phase Sites Trial status Completion (est.) Q1 update VAC - 085 I Oxford, UK Concluded March 2025 ✓ Concluded 2025 Pfs48/45 in Matrix - M VAC - 099 Ib INSTech
Slide 8: Key Updates on Other Programs
Key Updates on Other Programs Largely grant - sponsored and consortium driven Nipah vaccine Mucosal influenza vaccine INDIGO influenza consortium In collaboration with the VICI - Disease Consortium In collaboration with the University of Multinational Horizon 2020 collaboration Copenhagen (MucoVax)
Slide 9: Pipeline Overview
Pipeline Overview A focused oncology lead asset, complemented by partnered infectious disease programmes and platform validation Target Pre - clinical Disease Project/Target ID Identification Pharmacology cGMP / Tox Phase I Phase II Phase III Collaboration Partner Platform 1 100% Breast Cancer ES2B
Slide 10: Leadership: Fully capable of executing clinical PoC
Leadership: Fully capable of executing clinical PoC Extensive Clinical Development, Oncology & Licensing Experience + 15 FTE colleagues (6 PhDs) Executive + consulting executives Management Bent U. Frandsen, MSc Keith Alexander, MSc Dr. Max M. Soegaard, PhD 200+ years of clinical development and pha
Slide 11: Upcoming Catalysts
Upcoming Catalysts Multiple value - driving readouts anticipated over the next 12 - 18 months Phase I Business development / Targeting primary readout end - 2026 Phase II preparation Potential ES2B - C001 outlicensing / (Breast cancer) Phase I Phase II Maintenance – booster and durability assessment
Slide 12: Interim Results Q1
Interim Results Q1 Q1 2026 financial results: income, costs, cash position 12
Slide 13: Q1 2026 Financial Highlights
Q1 2026 Financial Highlights Operating income Operating loss Net loss mSEK 6.9 m SEK 11.9 mSEK 9.6 +132% vs Q1 2025 - 6% vs Q1 2025 - 16% vs Q1 2025 Post - period rights R&D spend Cash at 31 Mar issue proceeds mSEK 7.1 mSEK 21.8 Pre - rights issue m SEK 31.8 +158% YoY; VICI - Disease pass - through
Slide 14: Income +132% YoY – Grants Boost Revenue
Income +132% YoY – Grants Boost Revenue SEK ‘000s Operating income Net sales (CRO) Other operating income (Grants) 7,500 6,868 4,000 7,500 Net sales Grant income includes 5,830 Other operating income VICI - Disease 6,000 6,000 3,000 subcontracting, offset +259% +132% in R&D costs YoY 4,500 4,500 YoY
Slide 15: Expense Discipline: External manufacturing and clinical costs drove increased R&D
Expense Discipline: External manufacturing and clinical costs drove increased R&D SEK ‘000s Operating expense R&D costs (external) 0 0 -3,000 +158% -5,000 YoY -6,000 - 7,092 -9,000 -10,000 Includes VICI - Disease subcontracting — 100% grant - funded, fully offset in income -12,000 1Q24 2Q24 3Q24 4Q2
Slide 16: Net Result For The Period
Net Result For The Period SEK ‘000s Q1 profit / loss Q1 YTD2025 profit→ / loss Q1 2026: drivers of improvement 0 00 -2,500 -2,500 -15,000 -5,000 -5,000 -30,000 -7,500 +20,098 - 36,038 -10,000 - 38,085 -7,500 -45,000 - 9,590 190 938 - 11,440 722 -12,500 -10,000 - 9,590 -60,000 -15,000 - 22,145 - 58,1
Slide 17: Cash Development
Cash Development SEK millions 90 81.5 Post - period: rights issue completed May 2026, gross proceeds mSEK 31.8 75 60 - 20.3 58.0 - 3.2 +1.7 48.8 +11.1 47.6 45 - 10.8 - 0.2 - 1.1 36.9 +0.7 - 10.5 - 0.1 - 1.3 30 21.8 - 25.5 - 0.1 - 0.1 15 0 12/24 OpCF FX 03/25 OpCF FinCF FX 06/25 OpCF FinCF FX 09/25 O
Slide 18: Cash Balance & Key Drivers (1Q24 – 1Q26)
Cash Balance & Key Drivers (1Q24 – 1Q26) SEK millions 100 • Q1 2026 cash: mSEK 21.8 TO 10 Rights Warrants • Post - period: rights issue with gross Issue 82 80 76 proceeds of mSEK 31.8 Dividend 69 • TO13 warrants: exercise period 20 Grant 60 58 TO 11 Aug – 2 Sep 2026; potential 60 Warrants 49 48 addi
Slide 19: Q&A
Q&A Innovative immunotherapies for a healthier world investor@ expres2ionbio.com https://investor. expres2ionbio.com
Slide 20: Forward-looking statements and disclaimer
Forward - looking statements and disclaimer Important information This presentation contains forward - looking statements. The words “believe”, “expect”, “anticipate”, “intend” and “plan” and simi lar expressions identify forward - looking statements. All statements other than statements of historic
Slide 21: ExpreS2ion Biotech Holding AB
ExpreS2ion Biotech Holding AB Innovative immunotherapies for a healthier world c/o Mindpark Rönnowsgatan 8c www.expres2ionbio.com S - 252 25 Helsingborg www.expres2ionbio.com
ExpreS2ion Biotech Holding — Q1 2026 Earnings Presentation on 6ix