Expres2ion Biotech Holding Ab · OMXSTO:EXPRS2
Expres2ion Biotech Holding Ab — Q3 2025 Earnings Presentation
31 slides from Expres2ion Biotech Holding Ab's earnings presentation, Nov 13, 2025
Slide 1: 2025 Interim Report Q3
2025 Interim Report Q3 Innovative vaccines for a healthier world STO: EXPRS2 ExpreS2ion Biotech Holding AB Org. Nr. 559033 - 3729
Slide 2: Forward-looking statements and disclaimer
Forward - looking statements and disclaimer This report contains forward - looking statements. The words “believe”, “expect”, “anticipate”, “intend” and “plan” and similar ex pressions identify forward - looking statements. All statements other than statements of historical facts included in this re
Slide 3: Third quarter 2025 highlights
Third quarter 2025 highlights Breast Cancer VICI - Disease CRO Proprietary ES2B - C001 In collaboration with the VICI - ExpreS2 TM- driven development In the third quarter of 2025, ExpreS2ion’s Phase I trial of ExpreS2ion continues to strengthen commercial engagement HER2 breast cancer vaccine ES2B
Slide 4: A word from our CEO
A word from our CEO “We continue to advance toward our mission of transforming healthcare through innovative vaccines —guided by science, collaboration, and disciplined execution.” To our shareholders, patient safety, while maintaining transparency warrant program, 100% including guarantors, Sincere
Slide 5: Company structure
Company structure ExpreS2ion Biotech Holding AB ExpreS2ion Biotech Holding AB • Listed on the Nasdaq First North Growth Market since 2016 • Holding company for ExpreS2ion Biotechnologies ApS, which it owns 100% ExpreS2ion Biotechnologies ApS • Established in 2010 • Protein expression platform (Expre
Slide 6: Our business
Our business |6
Slide 7: Vaccine pipeline
Vaccine pipeline We develop therapeutic vaccines (immunotherapy) against cancer as well as prophylactic vaccines against major infectious diseases Target Pre - clinical DISEASE Project/Target ID Identification Pharmacology cGMP / Tox Phase I Phase II Phase III Collaboration Partner Platform 1 100% B
Slide 8: Breast Cancer: High Burden & Significant Unmet Needs
Breast Cancer: High Burden & Significant Unmet Needs ES2B - C001 harnesses a polyclonal immune response to overcome HER2 resistance Breast cancer: Disease background ExpreS2ion’s vaccine target aims to generate a broader immune • 2.3 million women diagnosed each year – the most response by targeting
Slide 9: ES2B-C001: Addressing the limitations of current HER2-targeted therapies
ES2B - C001 Addressing the limitations of current HER2 - targeted therapies Limitations of Current HER2 - Targeted 3. Toxicity and Tolerability Issues 2. Polyclonal Immune Response Therapies ADCs and other targeted therapies can Unlike single - target therapies, ES2B - C001 HER2 protein In the treat
Slide 10: ES2B-C001: From platform validation to first-in-human
ES2B - C001 From platform validation to first - in- human: A milestone - driven journey Proof - of- concept Preclinical Platform validation Manufacturing Clinical Building awareness studies pharmacology Validated ExpreS2 Conducted by the GLP - compliant Stability studies Trial initiated in Q1 Precli
Slide 11: Collaboration project updates
Collaboration project updates MucoVax mucosal influenza vaccine transmission - blocking and blood - stage The malaria vaccine portfolio demonstrates safety and immunogenicity of both Launched in 2023, MucoVax is a 5 - year antigens expressed in Drosophila S2 cells. As broad progress across clinical
Slide 12: Collaboration project updates
Collaboration project updates During the third quarter of 2025, the parallel, ExpreS2ion’s ExpreS2 platform is consortium selected the lead Nipah vaccine being used for antigen production in candidate, marking a major step toward preclinical research on next - generation preclinical and manufacturin
Slide 13: ExpreS2 platform
ExpreS2 platform A powerful system for high - yield protein production and vaccine development Overview Best - in- Class Antigen Display for VLPs Strategic Fit ExpreS2ion Biotechnologies has developed In combination with AdaptVac’s virus - like ExpreS2 is central to ExpreS2ion’s strategy of ExpreS2
Slide 14: ExpreS2 platform: modular expression system
ExpreS2 platform A modular expression system for safe, scalable, and immunogenic vaccine antigens ExpreS2 - produced antigens combine the VLP safety of subunit vaccines with enhanced Live immunogenicity when delivered as VLPs attenuated virus Optional VLP coupling boosts • ExpreS2 - produced antigen
Slide 15: ExpreS2 platform collaborations
ExpreS2 platform collaborations + numerous additional pharmaceutical and biotech protein production projects Target Identification Pre - clinical cGMP / Tox Phase I Phase II Phase III - Validated ES2B - C001 initiated Phase I in Q1 2025 Influenza Influenza HER2+ breast cancer 3 x Malaria COVID - 19
Slide 16: Significant events
Significant events Third quarter of 2025 enrolled in the trial, indicate that the vaccine is 11. In total, 28,522,440 warrants of series TO 11 On November 10 th , ExpreS2ion announced On July 7 th , ExpreS2ion announced that it had triggering a significant immune response. were exercised, correspond
Slide 17: Financial statements
Financial statements |17
Slide 18: Summary of 2025 year-to-date results
Summary of 2025 year - to - date results Q3 2025 Q3 2024 % Change YTD 2025 YTD 2024 % Change Key income statement figures, SEK ‘000s Operating income 2,298 1,689 36% 8,674 5,647 54% Profit/loss after financial items -9,765 -13,010 -25% -34,181 -25,210 36% Profit/loss -8,445 -10,460 -19% -29,910 -20,
Slide 19: Financial overview
Financial overview Q3 2025 Highlights 1 • Raw materials and consumables decreased Cash and cash equivalents Year - to - Date (Nine - Months 2025) by 30% to KSEK - 837, a result of project Cash and cash equivalents as of 30 September prioritisation. 2025 totalled KSEK 36,881, compared to KSEK Highlig
Slide 20: Income statement - group
Income statement - group KSEK Q3 2025 Q3 2024 % change YTD 2025 YTD 2024 % change FY 2024 Operating income Net sales 353 459 -23% 3,222 2,414 33% 3,013 Other operating income 1,945 1,230 58% 5,452 3,233 69% 4,812 Total operating income 2,298 1,689 36% 8,674 5,647 54% 7,825 Operating costs Raw materi
Slide 21: Balance sheet - group
Balance sheet - group KSEK Q3 2025 YE 2024 % change Q3 2024 KSEK Q3 2025 YE 2024 % change Q3 2024 Assets Equity and liabilities Concessions, patents, licenses, trademarkets and Share capital 11,815 11,815 0% 9,292 similar intellectual rights 1,653 2,077 -20% 2,163 Other capital contributions 192,685
Slide 22: Changes in equity - group
Changes in equity - group FY 2024 Other equity Other capital including net profit KSEK Share capital contributions for the period Total equity Opening balance as of January 1st, 2024 5,712 389,746 -330,094 65,364 Issuance of new shares 6,103 36,237 42,340 Issuing expenses -7,351 -7,351 Vesting of sh
Slide 23: Cash flow statement - group
Cash flow statement - group KSEK Q3 2025 Q3 2024 % change YTD 2025 YTD 2024 % change FY 2024 Operating profit/loss -9,746 -13,125 -26% -34,090 -47,995 -29% -67,695 Adjustments for items not included in the cash flow 445 -125 -456% 1,455 -678 -315% -207 Received interest 16 561 -97% 310 1,354 -77% 1,
Slide 24: Income statement - parent
Income statement - parent KSEK Q3 2025 Q3 2024 % change YTD 2025 YTD 2024 % change FY 2024 Operating income Net sales 0 0 n/a 279 279 0% 558 Total operating income 0 0 n/a 279 279 0% 558 Operating costs Other external costs -370 -694 -47% -3,221 -3,409 -6% -5,621 Personnel costs -186 -110 69% -563 -
Slide 25: Balance sheet - parent
Balance sheet - parent KSEK Q3 2025 YE 2024 % change Q3 2024 KSEK Q3 2025 YE 2024 % change Q3 2024 Assets Equity and liabilities Shares in group companies 51,743 64,855 -20% 82,799 Share capital 11,815 11,815 0% 9,292 Total financial non-current assets 51,743 64,855 -20% 82,799 Restricted equity 11,
Slide 26: Changes in equity - parent
Changes in equity - parent FY 2024 Other equity Other capital including net profit KSEK Share capital contributions for the period Total equity Opening balance as of January 1st, 2024 5,712 383,205 -279,572 109,345 Issuance of new shares 6,103 36,237 42,340 Issuing expenses -7,351 -7,351 Vesting of
Slide 27: Shareholder information
Shareholder information ExpreS2ion Biotech Holding AB’s share was List of largest shareholders listed at Nasdaq First North Growth Market on July 29, 2016. The trading name of the share is Name Number of shares held Share of votes and capital EXPRS2 and the ISIN - code is SE0023261292. For Saxo Bank
Slide 28: Warrants
Warrants As of 30 September 2025, the Company had three active series of warrants issued, two of which are part of incentive programs Warrant program TO9 TO11 TO12 Shareholder meeting / 9 November 2023 5 June 2024 5 June 2024 Resolution date Type Incentive program New share issue and warrants Incent
Slide 29: Other matters
Other matters Employees Financial calendar As of 30 September 2025, there were a total of 20 employees. During the first three quarters of 2025 Q4 Full - Year 19 February 2026 2025, there was an average of 18 full - time Report equivalents (FTEs). 5 May 2026 2025 Annual Report Operational risks and
Slide 30: Declaration of The Board of Directors & CEO
Declaration of The Board of Directors & CEO The Board of Directors and CEO assure that the report presents a true and fair view of ExpreS2ion Biotech Holding AB’s business, operations, position and results. Hørsholm, Denmark 13 November 2025 ExpreS2ion Biotech Holding AB c/o Mindpark Rönnowsgatan 8c
Slide 31: ExpreS2ion Biotech Holding AB contact details
ExpreS2ion Biotech Holding AB c/o Mindpark Rönnowsgatan 8c S - 252 25 Helsingborg www.expres2ionbio.com www.expres2ionbio.com
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