Slide 1: Report on the second quarter 2025
Changing the course of cancer treatment Report on the second quarter 2025
Slide 2: Significant events of Q2 2025
Significant events of Q2 2025 » Net sales for the period amounted to KSEK - (-) ment of remuneration to board members and bonuses to employees in shares. » Result for the period amounted to KSEK -22,686 (-38,240) » Mendus presented data at the 61st Annual American » Earnings and diluted earnings per
Slide 3: CEO Comment: Expanding the vididencel opportunity
CEO Comment Expanding the vididencel opportunity VD har ordet In the second quarter of 2025, Mendus reported data from the pivotal Phase 2a ADVANCE II trial at different keynote conferences, confirming that its lead product vididencel acts an active immunotherapy across different subtypes of high-ri
Slide 4: CEO Comment (continued)
the American Society for Clinical Oncology (ASCO) in June. Based on the proof-of-concept data in AML, combined The data presented demonstrate the successful induction with a validated and focused strategy, Mendus is in a strong of tumor-directed immune responses following vididencel position to capt
Slide 5: Mendus in short – Q2 2025
Mendus in short – Q2 2025 Mendus is developing novel cancer therapies based on harnessing the power of the immune system to control residual disease and prolong survival of cancer patients without harming health or quality of life. “Preserving health and quality of life” Changing the course of cance
Slide 6: Vididencel ADVANCE II clinical data
who were diagnosed with measurable residual disease (MRD). The presence of MRD puts patients at a high risk of relapse and reduced overall survival. At the last reported median follow-up of 41.8 months, the majority (13/20) of patients participating in the ADVANCE II trial were reported to be alive
Slide 7: Pipeline overview
Preclinical pipeline DCOne platform to expand memory NK cells, an important subset of NK cells because of their longevity, resistance to immune suppression and correlation with improved clinical In addition to supporting the clinical development and outcomes in blood-borne tumors in particular. E
Slide 8: Uncovering the future of immuno-oncology in blood cancers
Interview Uncovering the future of immuno-oncology in blood cancers Dr Tariq Mughal joined Mendus as Chief Medical Officer last May. He brings a combination of academic and industry experience in hematology, oncology and pharmaceutical R&D to support the company’s late-stage clinical development st
Slide 9: Interview
Interview patients can stop therapy with tyrosine kinase inhibitors at longer. This could reduce both the physical burden of 10 years without relapse—a concept known as treat- chronic drug use and the economic cost. We and many ment-free remission (TFR). The majority of patients either global CML le
Slide 10: Financial information
Financial information The Group Revenue amounted to KSEK -22,686 (-38,240) and for the first half of the year to KSEK -53,169 (-73,854). The change in earnings No turnover was reported for the second quarter - (-) or is mainly due to the fact that the Group has decreased for the first half of the ye
Slide 11: Financial information – Parent Company
Financial information Parent Company Mendus AB Revenue half-year. Profit/loss amounted to KSEK -6,319 (-9,270) for the second quarter and to KSEK -15,632 (-18,337) for the No sales were reported for the second quarter – (-) or half-year. for the half-year. Other operating income in the quarter amoun
Slide 12: Other information
Other information Incentive rdinary shares of which 329,969 shares have been used o for share-based bonus payments. All shares have equal The purpose of share-based incentive programs is to voting rights and a share of Mendus' assets and profits. promote the company's long-term interests by motiva
Slide 13: The Group – Financial reports
FINANCIAL REPORTS THE GROUP
Slide 14: Consolidated income statement
Consolidated income statement 2025 2024 2025 2024 2024 Amounts in KSEK apr-jun apr-jun jan-jun jan-jun jan-dec Revenue – – – – – Total revenue and other operating income – – – – – OPERATING EXPENSES Administration expenses -9,645 -9,406 -18,820 -18,391 -34,070 Research and development expenses -15,5
Slide 15: Consolidated balance sheet statement
Consolidated balance sheet statement Amounts in KSEK 30/06/2025 30/06/2024 31/12/2024 ASSETS NON-CURRENT ASSETS Goodwill 108,350 108,350 108,350 Technology 424,091 424,091 424,091 Right-of-use assets 18,993 22,318 21,070 Equipment 6,608 9,729 8,497 Other long term receivables 815 630 373 Total Non-c
Slide 16: Consolidated statement of changes in equity
Consolidated statement of changes in equity Attributable to owners of Mendus AB (publ) Retained Additional Shares earnings inc. Share paid in in own profit/loss for Amounts in KSEK capital capital custody Reserves the period Total Opening shareholders’ equity 01/01/2025 50,360 1,454,241 – -3,448 -85
Slide 17: Consolidated statement of cash flows
Consolidated statement of cash flows 2025 2024 2025 2024 2024 Amounts in KSEK Note apr-jun apr-jun jan-jun jan-jun jan-dec Operating activities Operating profit/loss before taxes -22,686 -37,942 -53,169 -73,259 -128,399 Adjustment for items not included in cash flow 9 3,070 1,701 5,864 6,235 8,497 I
Slide 18: Parent Company – Financial reports
FINANCIAL REPORTS PARENT COMPANY
Slide 19: Parent Company income statement
Parent Company income statement 2025 2024 2025 2024 2024 Amounts in KSEK apr-jun apr-jun jan-jun jan-jun jan-dec Revenue – – – – – Total revenue – – – – – OPERATING EXPENSES Administration expenses -6,073 -6,938 -12,614 -13,658 -24,288 Research and development expenses -3,639 -3,557 -7,136 -7,405 -1
Slide 20: Parent Company balance sheet
Parent Company balance sheet Amounts in KSEK 30/06/2025 30/06/2024 31/12/2024 ASSETS Financial assets Participants in Group companies 956,718 910,485 930,704 Other long term securities 1 1 1 Other long term receivables 591 401 2,829 Total financial assets 957,310 910,887 933,534 Total fixed assets 9
Slide 21: Parent Company statement of changes in equity
Parent Company statement of changes in equity Retained Share Shares earnings inc. Share premium in own profit/loss for Amounts in KSEK capital reserve custody the period Totalt Opening shareholders’ equity 01/01/2025 50,359 1,739,428 – -768,582 1,021,205 Profit/loss for the period – – – -15,632 -15,
Slide 22: Parent Company cash flow statement
Parent Company cash flow statement 2025 2024 2025 2024 2024 Amounts in KSEK Note apr-jun apr-jun jan-jun jan-jun jan-dec Operating activities Operating profit/loss before taxes -6,319 -9,247 -15,632 -18,314 -30,816 Adjustment for items not included in cash flow 2,337 588 2,924 1,175 2,194 Interest i
Slide 23: Notes
Notes Note 1 – General information istorically and is not expected to do so in the near term. The h Company's product candidates are dependent on research Mendus AB (publ) (hereinafter "Mendus"), 556629-1786 is and development and may be delayed and/or incur higher a Swedish public limited company
Slide 24: Note 7 - Significant events after end of period
Note 7 - Significant events after end of period 2025 – 30 April 2026 at a price per share within the registered price interval at any given time. » Mendus announcedthat the United States Patent and Trademark Office (USPTO) hasgranted a patent in the US Note 8 – Participations in Group companies cove
Slide 25: Key performance measurements
Key performance measurements The company presents in this report certain key performance measures, including two measures that is not defined under IFRS, namely expenses relating to research and development/operating expenses and equity ratio. These financial performance measures should not be viewe
Slide 26: Definitions and reconciliation of alternative performance measurements
Definitions and reconciliation of alternative performance measurements Alternative performance measurementsments Definition Justification Equity ratio Total shareholders’ equity divided by The key ratio provides useful information of the company’s total assets capital structure. Research & developme
Slide 27: Financial Calendar
Financial Calendar » Publication of Q3 interim report 13 november, 2025 For further information, please contact: Erik Manting, CEO, Mendus Phone: +46 (0)8 732 8400 E-mail: ir@mendus.com Lotta Ferm, CFO, Mendus Telephone: +46 (0)8 732 8400 E-mail: ir@mendus.com Postal address: Västra Trädgårdsgatan 1
Slide 28: www.mendus.com
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