Expres2ion Biotech Holding Ab · OMXSTO:EXPRS2
Expres2ion Biotech Holding Ab — Q3 2025 Earnings Presentation
21 slides from Expres2ion Biotech Holding Ab's earnings presentation, Nov 13, 2025
Slide 1: Interim Report (Q3) 2025 Webcast
Interim Report (Q3) 2025 Webcast 13 November 2025 Innovative vaccines for a healthier world Bent Frandsen – CEO Hosted by Keith Alexander - CFO STO: EXPRS2 ExpreS2ion Biotech Holding AB Org. Nr. 559033 - 3729
Slide 2: Agenda
Agenda • Strategy & Pipeline Progress • Financial results • Q&A Note: This presentation may contain forward - looking statements; please see disclaimer at end 2
Slide 3: Strategy & Pipeline Progress
Strategy & Pipeline Progress: Driving our HER2 cancer immunotherapy forward while expanding global vaccine collaborations 3
Slide 4: Four Pillars Driving Our Strategy
Four Pillars Driving Our Strategy • Deliver on ES2B - • Oxford (Malaria) C001 (HER2 cancer • VICI (Nipah) immunotherapy) • Copenhagen (Influenza) • INDIGO (Influenza) Advancing Intensifying our vaccine proprietary collaborations pipeline Innovating & Growing our strengthening CRO business the platfo
Slide 5: Q3 2025 Highlights
Q3 2025 Highlights Executing on Strategy ES2B - C001 Immunotherapy • Phase I trial momentum – first patient dosed and trial protocol expanded (approval to add ADC combo therapy and more sites) • Early immunogenicity data show vaccine - induced HER2 - specific immune response in patient 1 Partnered V
Slide 6: ES2B-C001 Phase I trial – Design and Progress
ES2B - C001 Phase I trial – Design and Progress Trial Design Trial Progress • Who? ~27 patients with advanced HER2 - positive or HER2 - low breast cancer (patients who have already been through standard Patient Dosage* Doses Received Study Stage treatments) Completed + 1 50 µg (5/5) • Where? Medical
Slide 7: Potential Development Path (Subject to Phase I Results)
Potential Development Path (Subject to Phase I Results) Phase II could begin in 2027; accelerated timeline under evaluation 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 Phase I in Patients with Breast C ancer Phase II in Patients with Breast Cancer Concurrent Phase II in Patients Phas
Slide 8: University of Oxford Malaria Vaccine Candidates
University of Oxford Malaria Vaccine Candidates New trials, updated timelines and recruitment progress Vaccines in trial Trial abbreviation Phase Sites Trial status Estimated completion VAC - 085 I Oxford, UK Concluded March 2025 Pfs48/45 in Matrix - M VAC - 099 Ib INSTech , Burkina Faso Recruiting
Slide 9: Key Updates on Other Programs
Key Updates on Other Programs Largely grant - sponsored and consortium driven Nipah/Hendra vaccine with the VICI - Mucosal influenza vaccine with University of Effective and affordable influenza vaccine Disease Consortium Copenhagen with the INDIGO Consortium • 100% grant funded to Phase I/IIa compl
Slide 10: We Are a Platform-Based Vaccine Company
We Are a Platform - Based Vaccine Company Multiple shots on goal across cancer and infectious diseases, powered by our ExpreS2 platform Target Pre - clinical DISEASE Project/Target ID Identification Pharmacology cGMP / Tox Phase I Phase II Phase III Collaboration Partner Platform 1 100% Breast Cance
Slide 11: Upcoming Catalysts
Upcoming Catalysts Expected Data Readouts & Deals on the Horizon Clinical & Pipeline Data • ES2B - C001 Phase Ia safety/tolerability readout (mid - 2026) • ES2B - C001 Phase Ib immunogenicity & early efficacy signals, if observable at this early stage (end - 2026) • Oxford malaria trials data readou
Slide 12: Q3 2025 & 9M 2025 Financial Results
Q3 2025 & 9M 2025 Financial Results 12
Slide 13: Income +36% YoY – Grants Boost Revenue
Income +36% YoY – Grants Boost Revenue SEK ‘000s Operating income Net sales Other operating income 4,000 4,000 4,000 Net sales Other operating income 3,000 3,000 3,000 2,298 1,945 +36% YoY 2,000 2,000 2,000 +58% YoY 1,000 1,000 1,000 - 23% YoY 353 0 0 0 1Q24 3Q24 1Q25 3Q25 1Q24 3Q24 1Q25 3Q25 1Q24 3
Slide 14: Expense Discipline: External R&D spend lower, cost base streamlined
Expense Discipline: External R&D spend lower, cost base streamlined SEK ‘000s Operating expense R&D costs (external) 0 0 -3,000 - 2,398 - 42% YoY -5,000 -6,000 -9,000 -10,000 Volatile & dependent upon pipeline activities -12,000 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 - 12,044 Personnel costs -15,000 0 -
Slide 15: Net Result For The Period
Net Result For The Period SEK ‘000s 3Q profit / loss YTD profit / loss 0 0 -3,000 -10,000 -6,000 -20,000 - 20,776 +44% -9,000 - 8,445 -30,000 - 29,910 - 19% - 10,460 -12,000 -40,000 2024 2025 2024 2025 Q2 2024 benefited from one - time AdaptVac dividend of mSEK 22.5 15
Slide 16: Cash Development In 2025
Cash Development In 2025 SEK millions 90 81.5 80 70 58.0 Q3 2025 60 - 20.3 - 3.2 48.8 50 1.7 - 10.8 - 0.2 40 36.9 - 10.5 - 0.1 - 1.3 30 20 10 0 December Operations FX March Operations Financing FX June Operations Financing FX September 2024 2025 2025 2025 16
Slide 17: Cash Balance & Key Drivers (1Q24 – 3Q25)
Cash Balance & Key Drivers (1Q24 – 3Q25) SEK millions 100 TO 10 Warrants • Q3 2025 cash (mSEK): 36.9 Rights AdaptVac Issue 82 • Oct 2025 TO 11 gross proceeds 80 Dividend 76 Grant (mSEK): 11.8 Prepayment 69 TO 11 60 Warrants • Current runway: Q2 2026 60 58 49 • Target milestones: Phase Ia (Q2’26) & P
Slide 18: New Shareholder Services
New Shareholder Services Review of investor - relations and capital - market service providers results in consolidation Sponsored Research Investor Events Certified Advisor • Effective 1 December 2025 • Effective 1 December 2025 • Effective 1 February 2026 • Continued: H.C. Andersen Capital • Contin
Slide 19: Meet Us – Upcoming Investor Events
Meet Us – Upcoming Investor Events A chance to ask questions about our strategy and the ES2B - C001 Phase I trial Date Event Location Speaker 13 November BioStock Life Science Summit Lund CEO Bent Frandsen ExpreS2ion Investor Seminar, hosted CEO Bent Frandsen & 21 November Copenhagen by H.C. Anderse
Slide 20: Q&A
Q&A Innovative vaccines for a healthier world investor@ expres2ionbio.com https://investor. expres2ionbio.com
Slide 21: Disclaimer
Disclaimer This presentation does not constitute or form part of any offer or invitation to purchase or subscribe for, or any offer to u nde rwrite or otherwise acquire, any shares or any other securities in ExpreS2ion Biotech Holding AB (the “Company”). Neither shall the presentation or any part of
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