Kinnevik AB (KINV_B) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day and thank you for standing by. Welcome to the Chenevic Q2 Report 2025 conference call and webcast. At this time, all participants will be on a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, please press star 1 and 1 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 1 and 1 again. Please note that today's conference is being recorded. I would now like to have the conference over to your speaker, Georgi Ganev, CEO. Please go ahead, sir. Thank you very much, and good morning, everyone, and welcome to the presentation of Kinevix results for the second quarter 2025. I'm Georgi Ganev, Kinevix CEO, and with me today is our CFO, Samuel Sjöström, and our Director of Corporate Communications, Torun Litsen. On today's call, we will begin by walking you through the key events during the quarter. Samuel will then cover our financial position, capital allocation, and net asset value. Finally, I will reiterate our priorities for 2025, and as usual, we will end with a Q&A. So, let's start on page four. Our net asset value was up 2% and amounted to 36.8 billion SEC or 133 SEC per share at the end of the second quarter of 2025. The fair value of our private portfolio was up 3% in SEC and 5% in constant currencies. We ended the quarter with a net cash position of 9.6 billion SEC after investing 0.9 billion with the addition of tandem health being the largest investment. Envera hit a significant milestone this quarter by successfully completing phase 1A clinical trials with its lead drug candidates. The drug targets eczema, a very common condition affecting around 200 million people worldwide. Despite that, c...