Lytix Biopharma Asa · OSL:LYTIX
Lytix Biopharma Asa — Q1 2026 Earnings Presentation
33 slides from Lytix Biopharma Asa's earnings presentation, May 21, 2026
Slide 1: Oncolytic Molecules that Kill Cancer with Direct and Systemic Effects
Oncolytic Molecules that Kill Cancer with Direct and Systemic Effects Neoadjuvant Immunotherapy with Durable Responses Approaching Registrational Trials Q1 Earnings Presentation 21 May 2026
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 Gjest Breistein, CFO Karim Benhadji, CMO Founder and scientist-CEO with Finance leader with strong Dr. Benhadji is an over two decades in immuno- track record in listed accomplished oncology oncology, leading the discovery companies, ensuring drug development lead
Slide 4: Company introduction
Company introduction Company Overview 4 Non-confidential
Slide 5: Lytix's Oncolytic Molecule Platform
Lytix’s Oncolytic Molecule Platform Oncolytic Molecule Platform Derived from Host-Defense Peptides Pipeline Lactoferrin (689 amino acids) Lactoferricin (25 amino acids) LTX-315 Ruxotemitide: Lead product candidate T=5 minutes • Small peptide (9 amino acids chemically modified) • Phase I/II study com
Slide 6: Two-Phase Mechanism: Killing Tumors Locally & Activating Systemic Immune Response
Lytix’s Therapies Work Through a Two-Phase Mechanism; Killing Tumors Locally & Activating Broad Systemic Immune Response 6 Non-confidential
Slide 7: Ruxotemitide Triggers Systemic Immune Activation and Regression of Non-Injected Tumors
Ruxotemitide (LTX-315) Triggers Powerful Systemic Immune Activation and Drives Regression of Non-Injected Tumors Across Multiple Cancer Types Sarcoma Triple Negative Breast Cancer Abscopal Effects in Lung Metastases Before After Before Injected tumor Non-injected tumor Non-injected tumor Injected tu
Slide 8: Pipeline
Pipeline Lytix holds an extensive patent estate protecting its proprietary anti-tumor molecules and their application in immunotherapy across major pharmaceutical markets. Population Pre-clinical Phase I Phase II Phase III Partner Ruxotemitide (LTX-315) ATLAS-IT -05 PD-1/PD-L1 Combination with refra
Slide 9: ATLAS-IT-05 Review
Company introduction ATLAS-IT-05 Review 9 Non-confidential
Slide 10: Ruxotemitide Delivers Anti-tumor Activity & Favorable Safety in Advanced Melanoma
Ruxotemitide (LTX-315) Delivers Anti-tumor Activity & Favorable Safety in Advanced Melanoma in Combination with Pembrolizumab Complete regression in Complete regression in Key Findings injected tumors non-injected tumors Before Treatment Baseline scan 28 mm lesion in left gluteus muscle • Complete r
Slide 11: Non-treated Tumor Shrinkage Observed in Advanced Melanoma Patients
Non-treated Tumor Shrinkage Observed in Advanced Melanoma Patients Who Had Failed Prior Immunotherapy Waterfall Plot for Best Percentage Change in Distant Non-treated Target Lesions (RECIST v1.1) Tumor Shrinkage in Non-treated Lesions Cancer Res (2026) 86 (7_Supplement): 3810; doi.org/10.1158/1538-7
Slide 12: Durable Tumor Responses and Sustained Disease Control in Advanced Melanoma
Ruxotemitide Combination with Pembrolizumab Delivers Durable Tumor Responses and Sustained Disease Control in Advanced Melanoma Durable responses Cancer Res (2026) 86 (7_Supplement): 3810; doi.org/10.1158/1538-7445.AM2026-3810 12 Non-confidential
Slide 13: Promising Survival Benefit in Advanced Melanoma
Ruxotemitide Combination with Pembrolizumab Delivers Promising Survival Benefit in Advanced Melanoma Proportion Event Free Ruxotemitide + Pembrolizumab Cancer Res (2026) 86 (7_Supplement): 3810;doi.org/10.1158/1538-7445.AM2026-3810 13 Non-confidential
Slide 14: Neoadjuvant Melanoma
Neoadjuvant Melanoma 14 Non-confidential
Slide 15: Potential to Improve Clinical Outcome in Neoadjuvant Melanoma
Ruxotemitide in Combination with Standard of Care has Potential to Improve Clinical Outcome in Neoadjuvant (Pre-surgery) Melanoma Standard of Care NCCN Recommend NOT FDA Approved Ruxotemitide Adapted and modified from Saad & Tarhini, Current Oncology Reports 2023 15 Non-confidential
Slide 16: NeoLIPA Interim Results Demonstrate Strong Anti-Tumor Activity
NeoLIPA Interim Results Demonstrate Strong Anti-Tumor Activity, and Durability of Response Clinical Validation of Ruxotemitide Established in Phase II Neoadjuvant Melanoma (N=9) Interim data presented at Nordic Melanoma Meeting – November 2025, by Dr. Henrik Jespersen and team Top-line results expec
Slide 17: Ruxotemitide + pembrolizumab: Intratumoral Immune-activation Strategy
Ruxotemitide + pembrolizumab: An intratumoral Immune-activation Strategy that Converts Tumor Destruction into anti-PD-1 Responsiveness Stage of Clinical Trial Company Asset Development Modality Patient Population Identifier ruxotemitide + Stage III-IV Phase II Oncolytic peptide + Anti PD-1 NCT066511
Slide 18: Differentiated Neoadjuvant Melanoma Opportunity with Broader Solid Tumor Upside
Ruxotemitide Positions Lytix for a Differentiated Neoadjuvant Melanoma Opportunity with Broader Solid Tumor Upside Ruxotemitide Projected Net Revenue - Melanoma $829 M 900 800 700 Net Revenue ($M) 600 500 400 300 200 100 0 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 US EU5 1 Addressable popula
Slide 19: Ruxotemitide (VP-315) for Basal Cell Carcinoma, Ph III Plan Supported by FDA
Ruxotemitide (VP-315) is a Potent Non-Surgical First-Line Immunotherapy for Basal Cell Carcinoma, Ph III Plan Supported by FDA Licensing Deal with Verrica Pharmaceuticals Clinical Validation of Ruxotemitide Established in Ph II BCC Led by partner Verrica Pharmaceuticals (VP-315) PATHOLOGICAL RESPONS
Slide 20: Q1 Highlights
Q1 Highlights
Slide 21: Highlights for the First Quarter & Post Quarter End
Highlights for the First Quarter & Post Quarter End Verrica Partnership – Continues Preparation Toward Phase III Study • Verrica has announced that they are planning to start Phase III registrational trial in 2026 • New Phase 2 data presented at the Society for Investigative Dermatology (SID) demons
Slide 22: Highlights for the First Quarter & Post Quarter End
Highlights for the First Quarter & Post Quarter End ATLAS-IT-03/05 – Clincal Data Presentations at Two Major International Conferences • Final results from ATLAS-IT-05 presented on April 20 at the American Association for Cancer Research (AACR) in San Diego • Safety and Efficacy results with ruxotem
Slide 23: Highlights for the First Quarter & Post Quarter End
Highlights for the First Quarter & Post Quarter End LTX-401 – Phase 1 Planning Ongoing • Preparing for clinical entry in 2027 Business and Financial • Successfully completed two capital raises in Q1 2026 with gross proceeds of NOK 77.3 million, strengthening the Company’s financial flexibility • Cas
Slide 24: Financials & Outlook
Financials & Outlook 24 Non-confidential
Slide 25: Key Figures – Profit & Loss
Key Figures – Profit & Loss Amounts in NOK ‘000 Q1 2026 Q1 2025 FY 2025 Total operating income - - - Total operating expenses (26,802) (13,439) (64,028) Loss from operations (26,802) (13,493) (64,028) Loss for the period (25,945) (12,923) (59,982) • Total operating expenses increased to NOK 26,802 t
Slide 26: 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 32,998 26,802 130,791 23,280 24,258 21,540 117,903 120,174 21,162 100,263 13,439 90,005 22,894 5,157 72,358 16,315 14,245 13,170 60,181 6,266 4,825 5,905 43,539 (3,209) Q2 24 Q3 24 Q4 24 Q1 2
Slide 27: Key Figures – Balance Sheet
Key Figures – Balance Sheet Amounts in NOK ‘000 31.03.2026 31.03.2025 31.12.2025 Assets Property, plant and equipment 5 26 5 Right-of-use assets 1,892 2,807 2,082 Trade and other receivables 6,728 9,355 7,078 Short-term financial investments 62,385 - 61,756 Cash and cash equivalents 57,789 117,903 1
Slide 28: Multiple Paths to Creating Shareholder Value
Multiple Paths to Creating Shareholder Value Ruxotemitide - Melanoma • NeoLIPA topline results on track for mid-2026 • FDA meeting 2H 2026 • Registration trial planned to start 2027 Ruxotemitide – BCC (Verrica Pharmaceuticals) • Verrica planning to initiate Phase III in 2026 • Actively seeking partn
Slide 29: Q&A
Q&A 29 Non-confidential
Slide 30: Interim Financial Statements
Interim Financial Statements 30 Non-confidential
Slide 31: Condensed Interim Statement of Profit & Loss
Condensed Interim Statement of Profit & Loss Unaudited Unaudited Amounts in NOK thousands Q1 2026 Q1 2025 FY 2025 Revenue - - - Other operating income - - - Total operating income - - - Payroll and related expenses (6,321) (4,105) (32,622) Depreciation and amortization expenses (249) (259) (1,004) D
Slide 32: Condensed Interim Statement of Financial Position
Condensed Interim Statement of Financial Position Unaudited Unaudited Amounts in NOK thousands 31.03.2026 31.03.2025 31.12.2025 Assets Non-current assets Property, plant and equipment 5 26 5 Right-of-use assets 1,892 2,807 2,082 Total non-current assets 1,898 2,832 2,087 Current assets Trade and oth
Slide 33: Condensed Interim Statement of Cash Flows
Condensed Interim Statement of Cash Flows Unaudited Unaudited Amounts in NOK thousands Q1 2026 Q1 2025 FY 2025 Cash flows from operating activities Loss for the period (25,945) (12,923) (59,982) Adjustments for: Depreciation of property, plant and equipment - 17 37 Depreciation of right-of-use asset