Molecular Partners Ag · SIX:MOLN
Molecular Partners — H1 2026 Earnings Presentation
40 slides from Molecular Partners's earnings presentation, Aug 25, 2026
Slide 1: Extending the Boundaries of Targeted Cancer Therapies
Extending the Boundaries of Targeted Cancer Therapies Company Presentation & H1 Financials Patrick Amstutz, CEO August 25, 2026 Nasdaq, SIX Swiss Exchange: MOLN
Slide 2: Disclaimer
Disclaimer This presentation contains forward looking statements. Any statements contained in this presentation that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995, as amended, including witho
Slide 3: Our Company
Extending the Boundaries of Targeted Cancer Therapies Our Company DARPin • Clinical-stage biotech company, founded 2004 Designed Ankyrin • Operations & listing in Switzerland (SIX, 2014) and US (Nasdaq, 2021) Repeat Protein • Financed (USD ~84 M / CHF ~68 M*) to capture upcoming catalysts into late
Slide 4: Our Pipeline & Upcoming Catalysts
Our Pipeline & Upcoming Catalysts PLATFORM CANDIDATE RESEARCH PRE-CLINICAL PHASE 1 PHASE 2 PHASE 3 SCLC & NECs MP0712 212Pb x DLL3 Co-development* Initial clinical data 2026 Radio-DARPin Safety and efficacy 2027 Therapy (RDT) MP0714 225Ac x DLL3 MP0726 Ovarian Cancer 212Pb MSLN Progress to FIH imagi
Slide 5: Corporate Highlights H1 2026
Corporate Highlights H1 2026 MP0712 • Initiated US Phase 1/2a study of MP0712, 212Pb-based DLL3-targeting Radio-DARPin candidate for SCLC and other neuroendocrine cancers; dose level (DL1) fully recruited, DL2 now open • Precise targeting of tumor lesions in patients shown with 203Pb-labeled MP0712
Slide 6: Financial overview & Team update
Financial overview & Team update
Slide 7: H1 2026 Financial Highlights
H1 2026 Financial Highlights • Strong financial position with CHF 68 million in cash (incl. short term deposits) as of June 30, 2026 • Net cash used in operating activities of CHF 25.0 million for the six months ended June 30, 2026 • Operating loss of CHF 27.0 million for the six months ended June 3
Slide 8: Key Figures first half year 2026
Key Figures first half year 2026 (CHF million, except per share and FTE data) H1 2026 H1 2025 Change Revenues - - - Total operating expenses (27.0) (33.5) 6.5 Operating result (27.0) (33.5) 6.5 Net financial result 0.3 (3.7) 4.0 Net result (26.7) (37.2) 10.5 Basic net result per share (in CHF) (0.70
Slide 9: Clare Fisher – New BoD Member
Clare Fisher – New BoD Member • Elected as new member of the Board of Directors of Molecular Partners in April 2026 • SVP for Global BD and M&A at BeOne Medicines • >20 years healthcare experience in leadership roles, incl. corporate and business development, mergers and acquisitions, strategy: • CB
Slide 10: Radio-DARPins
Radio-DARPins ➢ Isotope-agnostic vectors for precise delivery of potent radio-isotopes ➢ Potential to unlock broad target space across solid tumor indications
Slide 11: Targeted Alpha Radiotherapeutics – Clinical Benefit Proven, Rising Opportunity
Targeted Alpha Radiotherapeutics – Clinical Benefit Proven, Rising Opportunity “See what you treat and treat what you see” DARPin Potential IMAGE THERAPY IMAGE 3 cycles of ? DARPin Large untapped 225Ac-PSMA-617 potential PSMA SSTR Peptide ~15 kDa ~2 kDa July 2017, PSA = 782 ng/ml May 2018, PSA = 0.0
Slide 12: Radio-DARPins for Next-Gen Targeted Alpha Therapy
Radio-DARPins for Next-Gen Targeted Alpha Therapy DARPin: ISOTOPE-AGNOSTIC VECTOR ALPHA-EMITTING FOR RADIOPHARMACEUTICALS THERAPEUTIC ISOTOPES • Proven selective targeting • Proven clinical efficacy • High affinity, tumor retention • High energy deposition • Broad target space LINKER & • Lead-212 (2
Slide 13: DARPins to Expand Target and Indication Space
DARPins to Expand Target and Indication Space Low density – rapid Shedding of Targets Bi-specific DARPins – cover 2 antigens internalization & with 1 DARPin (2-in-1 DuoDARPin) replenishment antigens Tumor cell A Tumor cell B MP0712 (DLL3) MP0726 (MSLN) Showcased at GRC in July 2026 GRC, Gordon Resea
Slide 14: Radio-DARPins Enable Chelator and Isotope Flexibility
Radio-DARPins Enable Chelator and Isotope Flexibility DARPIN CHELATOR ISOTOPE Therapeutic Imaging Examples DOTAM 212Pb 203Pb DOTA 225Ac 177Lu … … … Pick and choose chelator/isotope to achieve the desired drug profile 14
Slide 15: Radio-DARPins Enable Chelator and Isotope Flexibility
Radio-DARPins Enable Chelator and Isotope Flexibility 177 Lu-DOTA - 4h Radio-DARPin against Target A 50 Radio-DARPin against Target B 177 Lu-DOTA - 24h 177 Lu-DOTA - 72h 177 Lu-DOTA - 168h 40 177 Lu-DOTA - 203 Pb-DOTAM - 4h 50 50 203 177 Lu-DOTA - Pb-DOTAM - 24h 177 Lu-DOTA - % ID/g 30 203 Pb-DOTAM
Slide 16: MP0712 (DLL3 x 212Pb)
MP0712 (DLL3 x 212Pb) Targeted Alpha Radiotherapy for Lung Cancer ➢ Specific tumor uptake reported in initial human images ➢ Phase 1/2a in US dosing patients, early data in 2026
Slide 17: MP0712: DLL3 Targeted Radiotherapy for SCLC and other NECs
MP0712: DLL3 Targeted Radiotherapy for SCLC and other NECs DLL3 – Validated Target with Large ✓ SCLC highly radio-sensitive Addressable Patient Population MP0712 ✓ DLL3 internalization to drive activity ✓ Combinable with other MoAs SCLC 7 6 33 NECs 19 DLL3-specific NSCLC 212Pb > 100k Melanoma HLE DA
Slide 18: MP0712: High Tumor Uptake via DLL3 Replenishment and Half-Life Engineering
MP0712: High Tumor Uptake via DLL3 Replenishment and Half-Life Engineering Optimal half-life for tumor uptake of MP0712 No HLE With HLE % injected dose / gram 10x tumor uptake • DARPin • Nucleus • Endosome DARPin half-life optimization allows to leverage rapid internalization & replenishment of DLL3
Slide 19: SPECT/CT Imaging with 203Pb-MP0712 in a Patient with mSCLC
SPECT/CT Imaging with 203Pb-MP0712 in a Patient with Metastatic Small Cell Lung Cancer (mSCLC) Patient characteristics 4 h post injection 24 h post injection 116 h post injection • 69-year-old male (smoker) • Small cell neuroendocrine carcinoma of the lung • Stage III at referral (mediastinal lesion
Slide 20: Biodistribution Profile of 203Pb-MP0712 in a Patient with mSCLC
Biodistribution Profile of 203Pb-MP0712 in a Patient with mSCLC • Continued tumor uptake during imaging period (up to 116 h) • Higher uptake in liver metastases as compared to primary lesion • Washout from healthy organs visible from 24 h onwards • Healthy organ profile consistent with profile obser
Slide 21: MP0712 Organ Dosimetry and Projection to Phase 1
MP0712 Organ Dosimetry and Projection to Phase 1 203Pb Time-Activity Curves Dosimetry extrapolations Kidneys Starting Dose Top Dose 0.012 1x 75 MBq 212Pb 1x 200 MBq 212Pb Patients External Beam Mean 0.008 5.7 Radiation (EBRT) limit: %IA/g Absorbed Dose 212Pb (Gy) Absorbed Dose 212Pb (Gy) 6 6 0.004 •
Slide 22: MP0712 Preclinical Safety Data Support Heme Recovery Hypothesis
MP0712 Preclinical Safety Data Support Heme Recovery Hypothesis Preclinical Data • Recovery of hematologic profile after 28 days • MP0712 treatment up to 30 µCi well tolerated • 10 µCi corresponds to ~75 MBq in human • 30 µCi corresponds to ~225 MBq in human MP0712 dose-range finding (DRF) study don
Slide 23: MP0712 Phase 1/2a Study for SCLC and other NECs
MP0712 Phase 1/2a Study for SCLC and other NECs • First-in-human, US multicenter, Phase 1/2a study of MP0712 monotherapy (NCT07278479) − SCLC patients after ≥2 prior systemic therapies or not eligible for standard 2L therapy; lung LC NEC patients after ≥1 prior systemic therapy − 5 of 9 centers curr
Slide 24: MP0712 Phase 1 Early Safety Signals Provide Confidence for Therapeutic Window
MP0712 Phase 1 Early Safety Signals Provide Confidence for Therapeutic Window BLOOD markers White Blood Cell Count Platelets Hemoglobin 7 300 140 101-001 101-001 101-001 White Blood Cells (G/L) Thrombocytes (G/L) 6 White Blood Cell Count Platelets 105-001 Hemoglobin 105-001 Hemoglobin (g/L) 105-001
Slide 25: MP0712 Phase 1 Early Safety Signals Provide Confidence for Therapeutic Window
MP0712 Phase 1 Early Safety Signals Provide Confidence for Therapeutic Window Aspartate Transaminase Alanine Transaminase Total Bilirubin LIVER markers Aspartate Transaminase (U/L) Alanine Transaminase (U/L) 80 101-001 80 101-001 101-001 Aspartate Transaminase Alanine Transaminase Total Bilirubin To
Slide 26: MP0712 Conclusions and Outlook
MP0712 Conclusions and Outlook Summary • Patients continuing treatment per protocol at dose level 1 (75 MBq / dose) ✓ Cohort fully recruited at first dose level ✓ No dose-limiting toxicity (DLT) reported ✓ All organs of concern well within safety parameters (blood, kidneys, liver) ✓ All 3 patients h
Slide 27: MP0714 (DLL3 x 225Ac)
MP0714 (DLL3 x 225Ac) Targeted Alpha Radiotherapy for Lung Cancer ➢ Compassionate care just initiated in South Africa ➢ Request by Dr. Mike Sathekge of NuMeRI
Slide 28: MP0714: DLL3 Targeted Radiotherapy for SCLC and epNECs
MP0714: DLL3 Targeted Radiotherapy for SCLC and epNECs MP0714 MP0714 ✓ SCLC highly radio-sensitive • Same DLL3-specific DARPin as ✓ DLL3 internalization to drive activity in MP0712 • DOTA as chelator 225Ac DLL3-specific • 225Ac as therapeutic isotope HLE DARPin – 177Lu used for imaging Compassionate
Slide 29: MP0726 Targeted Alpha Radiotherapy for Ovarian Cancer
MP0726 Targeted Alpha Radiotherapy for Ovarian Cancer ➢ Targeting membrane-bound MSLN ➢ Progress to FIH imaging in 2026
Slide 30: MP0726: Targeted Alpha Radiotherapy for Ovarian and Other Cancers
MP0726: Targeted Alpha Radiotherapy for Ovarian and Other Cancers MSLN – highly expressed target across multiple solid cancers MP0726 αMSLN Alpha emitting Ovarian DARPin therapeutic isotope • >80% prevalence in 11.8 26.8 Pancreatic ovarian cancer 22.7 Mesothelioma • Maintained in metastases 57.1 NSC
Slide 31: MP0726: MSLN-Targeting Radio-DARPin for Ovarian Cancer
MP0726: MSLN-Targeting Radio-DARPin for Ovarian Cancer Cell binding maintained despite shed MSLN Favorable biodistribution in hMSLN-MC38 Proximal tumor model MSLN DARPin-1 x HLE shed MSLN 60 “Distal” 4h DARPin 24h Full-length MSLN “Proximal” DARPin 40 32.2 Membrane-proximal epitope %ID/g OVCAR-8 Ce
Slide 32: CD70 x RDT
CD70 x RDT Targeted Alpha Radiotherapy for kidney cancer and beyond ➢ Lead candidate nomination H2 2026 ➢ Clinical program start expected 2027
Slide 33: CD70-Targeting Alpha Radiotherapy for RCC & Beyond
CD70-Targeting Alpha Radiotherapy for RCC & Beyond CD70 – Validated Target with Broad Expression • >80% in kidney cancer (ccRCC), NHL, MM patients4,5 Alpha emitting ✓ RCC sensitive to • Limited / no expression in healthy tissues; transient on activated therapeutic isotope CD70 DARPin high-dose SBRT
Slide 34: Concluding Remarks & Outlook
Concluding Remarks & Outlook
Slide 35: Our Radio-DARPin Pipeline – News Flow in 2026
Our Radio-DARPin Pipeline – News Flow in 2026 Radio-Therapeutics Initial data 2026 Vector Efficacy 2027 Progress to FIH imaging 225Ac Target & Patient 212Pb Disease Nominate new RDT targets Isotope Evaluate candidates in alpha-agnostic manner The co-development agreement with Orano Med includes up t
Slide 36: Outlook and Milestones in 2026
Outlook and Milestones in 2026 • First-in-human (FIH) Phase 1/2a study in US, dosing ongoing and now recruiting at dose level 2 MP0712 • Full imaging and dosimetry data from South Africa presented at TWC in January 2026 • Initial data from Phase 1 anticipated in 2026, efficacy in 2027 Radio-DARPin •
Slide 37: Thank You
Twenty Years of Pioneering DARPin Therapeutics for Patients Thank You Our Team, Summer 2025
Slide 38: MP0317
IMMUNE CELL MP0317 A FAP-localized CD40 agonist for local immune cell activation and tumor microenvironment modulation ➢ Phase 2 combo IIT in advanced biliary tract cancer (cholangiocarcinoma), dosing patients ➢ Trial-in-progress poster at ESMO 2026 TUMOR-ASSOCIATED CELL
Slide 39: MP0317 Ph1: Biological PoC of Tumor Microenvironment Remodeling
MP0317 Ph1: Biological PoC of Tumor Microenvironment Remodeling PRIOR TO TREATMENT CYCLE 2 DAY 8 MP0317 DC infiltration • 46 patients treated in 9 cohorts • Favorable safety profile across all tested dose cohorts up to highest planned dose (10 mg/kg) • Clinical evidence of tumor- localized CD40 path
Slide 40: MP0317 Phase 2 Trial in Cholangiocarcinoma, IIT in France
MP0317 Phase 2 Trial in Cholangiocarcinoma, IIT in France Study Overview 1.0 MP0317 + CPI + Gem + Cis • 1st line adv. biliary tract cancer (cholangiocarcinoma) CPI + Gem + Cis1,2 Probability of PFS* 0.8 • Investigator-initiated, randomized, PoC Objective: 12-month PFS 0.6 improvement of ~50% • MP031