Pentixapharm : Financial document (Pentixapharm Q3 2025 e)

About this update from Pentixapharm Holding Ag

QUARTERLY REPORT 3 2025 PENTIXAPHARM ‌PENTIXAPHARM QUARTERLY REPORT 3 2025 CONTENT 05 A. INTERIM GROUP MANAGEMENT REPORT 05 A.1 EARNINGS PERFORMANCE 05 A.2 NET ASSETS AND FINANCIAL POSITION 06 A.3 OUTLOOK 06 A.4 RISKS AND OPPORTUNITIES 06 A.5 ADDITIONAL DISCLOSURES 06 A.6 EVENTS AFTER THE REPORTING PERIOD 07 B. INTERIM CONSOLIDATED FINANCIAL STATEMENTS 07 B.1 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME 09 B.2 CONSOLIDATED BALANCE SHEET 10 B.3 CONSOLIDATED STATEMENT OF CASH FLOWS 11 B.4 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY 12 B.5 NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS 14 C. ADDITIONAL INFORMATION 14 C.1 STATEMENT BY LEGAL REPRESENTATIVES (DECLARATION OF ACCURACY) A B C 14 IMPRINT 2 PENTIXAPHARM QUARTERLY REPORT 3 2025 KEY EVENTS IN THE THIRD QUARTER 2025 Presentation of extensive clinical data at the annual congress of the European association of Nuclear Medicine (eanm). → → → [⁶⁸Ga]Ga-PentixaFor showed convincing potential in the diagnosis of primary hyperaldosteronism. In the Phase 1 part of the ongoing Phase 1/2 pentilula study with [177Lu]Lu-PentixaTher in acute myeloid leukemia (aml), the fourth of five dose steps has been reached. The transition to this dose step was approved by the independent Data Safety Review Board following a review of the existing safety data. The primary hyperaldosteronism market is gaining momentum due to advancments in the development of new treatment options. PentixaFor is positioning itself within this market as a therapy-guiding diagnostic in this high-growth indication. Preparations for the planned Phase 3 trial and the associated regulatory submissions are proceeding according to schedule. 3 COMMENTARY BY THE EXECUTIVE BOARD OF PENTIXAPHARM HOLDING AG Dirk Pleimes, md (ceo/cmo) of Pentixapharm Holding and Pentixapharm ag, explained: "The analysis and preparation of measures to further optimize the organizational and cost structure continued during the reporting period. These initiatives serve to improve operational efficiency and are intended to sustainably strengthen the company's financial stability and cash reach in the long term. At the same time, we achieved significant clinical progress in 2025. In cardiology, the data presented at the annual congress of the European Association of Nuclear Medi- cine (eanm) demonstrate the potential of [68Ga]Ga-PentixaFor to significantly improve the diagnosis of primary aldo-steronism and thereby enable precise patient selection for new therapeutic options. In oncology, reaching the fourth dose step in the pentilula trial with [177Lu]Lu-PentixaTher marks an important milestone for our therapeutic cxcr4 program in an indication with high medical need and short survival times. Furthermore, preclinical studies with our cd24-based radioconjugate antibody in solid tumor models show promising results regarding target binding and antitumor efficacy. These findings confirm the potential of our antibody pipeline for future development programs. With a robust balance sheet, a high equity ratio, and cash reserves secured until the end of March 2027, we have the necessary financial strength to continue our clinical programs as planned. At the same time, we are laying the foundation for expanding strategic partnerships in a targeted manner and implementing our long-term development strategy." PEPNETNITXIAXPAHPAHRAMRMQUZAWRISTCERHLEYNRBEEPROICRHTT3Q21025025 ‌PENTIXAPHARM QUARTERLY REPORT 3 2025 INTERIM GROUP MANAGEMENT REPORT EARNINGS PERFORMANCE In the first nine months of 2025, the Pentixapharm Group�s loss amounted to €12.7 million (€-0.51 per share), whereas in the first nine months of 2024, a result of €-171k was achieved. The prior-year comparative figure relates only to Pentixapharm Holding ag, as the Group was not legally established until October 2, 2025 (see also explanations in the 2024 Annual Report). The opening balance sheet of Pentixapharm Holding ag was prepared as of March 18, 2024; the statement of comprehensive income for the period from March 18 to September 30, 2024, exclusively shows other operating expenses of €171k, which resulted in a corresponding loss of the same amount. In the first nine months of 2025, revenues of €117k were realized. Other operating income of €482k primarily includes project grants. The cost of materials and external services for research and development amounted to €4,723k in the first nine months of 2025, while personnel expenses amounted to €4,072k. Other operating expenses totaling €2,228k mainly comprise costs for legal and consulting, rent and leasing expenses, as well as costs related to business development, external personnel and investor relations. Of the depreciation and amortization of non-current assets amounting to €2,803k, €2,735k relate to scheduled amortization of intangible assets. The financial result includes interest income of €202k as well as gains from the valuation of a derivative financial instrument amounting to €44k. Income taxes of €287k relate exclusively to deferred taxes arising in connection with the amortization of intangible assets. NET ASSETS AND FINANCIAL POSITION BALANCE SHEET The balance sheet total as of September 30, 2025, decreased by €24 million compared to the 2024 annual financial statements and now amounts to €43 million (prev. year: €67 million). On the asset side, non-current assets decreased by €2.2 million. This resulted from new investments in intangible assets and property, plant and equipment of €0.6 million, as well as scheduled depreciation and amortization of €2.8 million. Trade receivables decreased by €6.8 million, while other current assets increased from €1.1 million to €1.9 million. The changes on the liability side primarily relate to trade payables, which were reduced from €8.9 million to €1.5 million and to other current liabilities, which were reduced from €5.1 million by €4.0 million to €1.1 million. Equity decreased by €12.7 million to €36.7 million as of September 30, 2025. The decrease resulted exclusively from the net loss for the period of €-12.7 million. The equity ratio is 85% (prev. year: 73%). LIQUIDITY Operating cash flow in the first nine months of 2025 amounted to €-15.6 million. In addition to the loss for the period of €12.7 million, the decrease in trade payables and other liabilities of €11.4 million had a negative impact on operating cash flow. This was counteracted by non-cash depreciation and amortization of €2.8 million, as well as the decrease in trade receivables and other assets of €6.1 million. €0.6 million was used for investments in intangible assets and property, plant and equipment. In the first nine months of the previous year, a cash flow from financing activities of €50k was generated through the formation of Pentixapharm Holding ag; in the first nine months of 2025, there were no transactions affecting cash flow from financing activities. The exchange rate-related changes in cash and cash equivalents amounted to €-6k as of September 30, 2025. In total, cash and cash equivalents as of September 30, 2025, decreased by €16.3 million compared to year-end 2024, to a current level of €7.0 million. With the current cash reserves and the existing financing commitment from the convertible bond, financing coverage is secured until the end of March 2027 based on the revised budget. ‌OUTLOOK The guidance for the 2025 fiscal year, published on April 14, 2025, has improved by approximately €5.5 million as a result of project focus measures that have already been implemented and others that are planned. The Executive Board now anticipates a loss of approximately €18 million for the 2025 financial year (previously €23.5 million). RISKS AND OPPORTUNITIES The 2024 Annual Report outlined the risks that could have a material adverse effect on the Group's business asset, financial and earnings position, as well as its reputation. Likewise, the most significant opportunities and the design of the risk management system were presented. Additional risks and opportunities that are currently unknown, or deemed immaterial, could also adversely affect the Group's business operations. Currently, no risks have been identified that, individually or in combination with other risks, could endanger the existence as a going concern. ADDITIONAL DISCLOSURES EMPLOYEES As of September 30, 2025, the Pentixapharm Group employed 64 people. Compared to the average of the fourth quarter of 2024 (71 employees), the number of employees has thus decreased. EVENTS AFTER THE REPORTING PERIOD After the cut-off date of September 30, 2025, the Management Board of Pentixapharm Holding ag decided in October 2025 to implement measures to optimize the organizational and cost structure. These measures are intended to contribute to a further increase in operational efficiency and are expected to extend the financial coverage until the end of the first quarter of 2027. The measures will be implemented gradually and will take effect from the fourth quarter of 2025. PEPNETNITXIAXPAHPAHRAMRMQUZAWRISTCERHLEYNRBEEPROICRHTT3Q21025025 ‌PENTIXAPHARM QUARTERLY REPORT 3 2025 INTERIM CONSOLIDATED FINANCIAL STATEMENTS B.1 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME in € thousands 9-months- period 01-09/2024 9-months- period 01-09/2025 Revenue 0 117 Income from the sale of rights/patents 0 0 Other operating income 0 482 Cost of materials and external services for research and development 0 -4,723 Personnel expenses 0 -4,072 Other operating expenses -71 -2,228 Earnings before interest, taxes, depreciation, and amortization (ebitda) -171 -10,424 Depreciation and amortization of non-current assets 0 -2,803 Earnings before interest and taxes (ebit) -171 -13,227 Financial result 0 246 Earnings before taxes (ebt) -171 -12,981 Income tax expense 0 287 Profit or loss attributable to the shareholders of the parent company Consolidated net income -171 -12,694 Other comprehensive income 0 0 Total comprehensive income attributable to the shareholders of the parent company -171 -12,694 Earnings per share Diluted/Basic (€ per share) -3.42 -0.51 Weighted average number of shares outstanding (diluted/ basic) - in thousands. 50 24,783 Q3 report Q3 report in € thousands 07-09/2024 07-09/2025 Revenue 0 79 Income from the sale of rights/patents 0 0 Other operating income 0 162 Cost of materials and external services for research and development 0 -1,937 Personnel expenses 0 -1,464 Other operating expenses -147 -462 Earnings before interest, taxes, depreciation, and amortization (ebitda) -147 -3,622 Depreciation and amortization of non-current assets 0 -932 Earnings before interest and taxes (ebit) -147 -4,554 Financial result 0 171 Earnings before taxes (ebt) -147 -4,383 Income tax expense 0 91 Profit or loss attributable to the shareholders of the parent company/Consolidated net income -147 -4,292 Other comprehensive income 0 1 Total comprehensive income attributable to the shareholders of the parent company -147 -4,291 Earnings per share Diluted/Basic (€ per share) -2.94 -0.17 Weighted average number of shares outstanding (diluted/ basic) - in thousands 50 24,783 B.2 CONSOLIDATED BALANCE SHEET Assets in € thousands 31.12.2024 30.09.2025 Non-current assets Other intangible assets 35,354 33,194 Property, plant and equipment 269 240 Financial assets 484 484 Total non-current assets 36,107 33,918 Current assets Cash and cash equivalents 23,232 6,974 Trade receivables 6,805 15 Income tax receivables 134 187 Other current assets 1,110 1,866 Total current assets 31,281 9,042 Total assets 67,388 42,960 Liabilities and Equity in € thousands Equity Subscribed capital 24,795 24,795 Capital reserves 37,475 37,475 Retained earnings/Accumulated deficit 0 -12,843 Income/ Loss of the period -12,843 -12,694 Other reserves 0 0 Treasury shares -12 -12 Equity attributable to shareholders of the parent company 49,415 36,721 Total equity 49,415 36,721 Non-current liabilities Deferred tax liabilities 3,930 3,635 Non-current provisions 2 2 Total non-current liabilities 3,932 3,637 Current liabilities Trade payables 8,943 1,520 Other current liabilities 5,098 1,082 Total current liabilities 14,041 2,602 Total liabilities and equity 67,388 42,960 B.3 CONSOLIDATED STATEMENT OF CASH FLOWS 18.03.- 01.01.- in € thousands 30.09.2024 30.09.2025 Cash flow from operating activities Profit/loss -171 -12,694 Adjustments for: Depreciation, amortization and impairment losses 0 2,803 Change in deferred taxes 0 -295 Income taxes paid 0 -53 Other non-cash expenses/income 0 -45 Change in trade receivables and other assets not attributable to investing or financing activities 0 6,084 Change in trade payables and other liabilities not attributable to investing or financing activities 125 -11,439 Net cash used in operating activities -46 -15,639 Cash flow from investing activities: Payments for investments in intangible assets and property, plant and equipment 0 -613 Net cash used in investing activities 0 -613 Cash flow from financing activities: Proceeds from capital contributions 50 0 Net cash from financing activities 50 0 Effect of exchange rate changes on cash and cash equivalents 0 -6 Net increase/decrease in cash and cash equivalents 4 -16,258 Cash and cash equivalents at the beginning of the period 0 23,232 Cash and cash equivalents at the end of the period 4 6,974 ‌B. 4 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY Equity attributable Retained to share- earnings/ holders Amounts in € thousands, Number of Subscribed Capital Accumulated Treasury of the parent except for number of shares shares capital reserves deficit shares company Balance as of March 18, 2024 50,000 50 0 0 0 50 Total comprehensive income 0 0 0 -171 0 -171 Balance as of September 30, 2024 50,000 50 0 -171 0 -171 Retained Equity attributable to Amounts in € thousands, Number of Subscribed Capital earnings/ Accumula- Currency translation Treasury shareholders of the parent except for number of shares shares capital reserves ted deficit differences shares company Balance as of December 31, 2024 24,795,477 24,795 37,475 -12,843 0 -12 49,415 Total income and expenses recognized directly in equity 0 0 0 0 0 0 0 Consolidated net income 0 0 0 -12,694 0 0 -12,694 Balance as of September 30, 2025 24,795,477 24,795 37,475 -25,537 0 -12 36,721 ‌B.5 NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS GENERAL INFORMATION These interim consolidated financial statements as of September 30, 2025, comprise the financial statements of Pentixapharm Holding ag and its subsidiaries. DISCLOSURES ON ACCOUNTING AND VALUATION POLICIES The condensed interim consolidated financial statements of Pentixapharm Holding ag (ptx) as of September 30, 2025, have been prepared in accordance with the International Financial Reporting Standards (ifrs) applicable to interim financial reporting. All standards of the International Accounting Standards Board (iasb), London, applicable in the eu as of the reporting date, as well as the valid interpretations of the International Financial Interpretations Committee (ifric) and the Standing Interpretations Committee (sic), have been taken into account. The interim financial statements do not include all the notes and disclosures typically contained in a full-year financial statement and are therefore condensed. Accordingly, these interim financial statements should be read in conjunction with the consolidated financial statements of Pentixapharm Holding ag as of December 31, 2024. The accounting and valuation policies explained in the notes to the 2024 consolidated financial statements have been applied consistently, except for the initial application of amended standards, which, however, had no effect. The preparation of the consolidated financial statements in accordance with ifrs requires that judgments and estimates be made that affect the amount and recognition of reported assets and liabilities, income, and expenses. Material judgments and estimates are made for the useful lives, the recoverable amounts of non-current assets, and the accounting for and valuation of provisions. Due to rounding, it is possible that individual figures may not add up precisely to the stated total. This interim report contains all necessary information and adjustments required for a true and fair view of the financial position, assets, and results of operations of ptx as of the interim reporting date. The interim results of the current fiscal year are not necessarily indicative of the development of future results. SCOPE OF CONSOLIDATION The consolidated financial statements of Pentixapharm Holding ag include all companies over which Pentixapharm Holding ag has the direct or indirect ability to govern financial and operating policies (control concept). CHANGES IN THE SCOPE OF CONSOLIDATION As of September 30, 2024, the financial statements include only Pentixapharm Holding ag. The spin-off of Pentixapharm ag from Eckert & Ziegler se to Pentixapharm Holding ag only became legally effective with its entry in the commercial register on October 2, 2024. From this date, Pentixapharm ag and Myelo Therapeutics GmbH were included in the consolidated financial statements of Pentixapharm Holding ag. As of May 2025, Pentixapharm Inc., as a wholly-owned subsidiary of Pentixapharm ag, is included in the consolidated financial statements of Pentixapharm Holding ag. COMPANY ACQUISITIONS AND DISPOSALS Effective May 28, 2025, Pentixapharm ag acquired 100% of the shares in Pentixapharm Inc., Delaware, usa, for $100. HOLDINGS OF TREASURY SHARES As of September 30, 2025, the Pentixapharm Group held 12,429 treasury shares. This corresponded to a calculated share of 0.05% of the company's share capital. MATERIAL TRANSACTIONS WITH RELATED PARTIES In accordance with ias 24, transactions with persons or entities that control or are controlled by Pentixapharm Holding ag must be disclosed. Details of transactions between the company and other related parties and entities are provided below. Transactions between Pentixapharm Holding ag and related parties and entities are conducted at arm's length terms. In addition to the Executive Board and the members of the Supervisory Board, the following are considered to be other key related parties and entities for the current fiscal year: Eckert & Ziegler se and all of its direct and indirect subsidiaries. Eckert Wagniskapital und Frühphasenfinanzierung GmbH, which holds 31.2% of the shares in Eckert & Ziegler se and 35.4% of the shares in Pentixapharm Holding ag, and whose main shareholder, Dr. Andreas Eckert, is Chairman of the Supervisory Board of Eckert & Ziegler se and of Pentixapharm Holding ag. ptx considers Dr. Eckert to be a related party and the "ultimate controlling party," as he has in the past indirectly held a majority presence at the Annual General Meetings of Eckert & Ziegler se and Pentixapharm Holding ag. elsa 2 Beteiligungen, which is a wholly-owned subsidiary of Eckert Wagniskapital und Frühphasenfinanzierung GmbH. Glycotope GmbH, in which Dr. Andreas Eckert indirectly holds an 8.76% stake via elsa 1 Beteiligungen GmbH and in which Henner Kollenberg (Executive Board member of Pentixapharm Holding ag and Pentixapharm ag) serves as a Managing Director. In the first nine months of 2025, the following transactions were conducted with related parties and entities: Eckert & Ziegler Radiopharma GmbH provided various services within the scope of Pentixapharm ag's development projects. The expenses incurred by Pentixapharm ag for these services amounted to €236k in the first nine months of 2025. Eckert & Ziegler Radiopharma Inc. provided Pentixapharm ag with office space, personnel, and accounting services. These services incurred expenses of €149k. Pentixapharm ag provided services for Eckert & Ziegler Eurotope GmbH as part of a research project and generated revenues of €17k for these services in the first nine months of 2025. During the same period, Pentixapharm ag purchased goods and services worth €37k from Eckert & Ziegler Eurotope GmbH. In February 2025, Pentixapharm ag paid €6,091k to Glycotope GmbH in settlement of an existing earn-out liability. Under a business management agreement with Glycotope GmbH, Pentixapharm generated revenues of €16k in the first nine months of 2025. Services worth €4k were procured from Glycotope GmbH. Pentixapharm Holding ag, as issuer, and Eckert & Ziegler se, as subscriber, concluded the subscription agreement for a convertible bond on August 30, 2024. The (37) bonds will only be delivered to Eckert & Ziegler se once Pentixapharm Holding ag has called for the payment amounts from Eckert & Ziegler se and payment has been made. As of September 30, 2025, no bonds had been called for by Pentixapharm Holding ag. This is a pending transaction; accordingly, the bond itself is not recognized. However, rights and obligations of the parties already arise from the subscription agreement, which are expressed in accounting terms as a derivative. This resulted in an asset of €379k as of September 30 (December 31, 2024: €335k). For the terms and conditions of the convertible bond, we refer to the explanations under note 23 of our 2024 Annual Report. The balances of ptx with related parties and entities with respect to receivables and payables as of September 30, 2025, and December 31, 2024, are as follows: in € thousands 31.12.2024 30.09.2025 Receivables from related parties and entities 18 4 Payables to related parties and entities 6,136 9 DISCLOSURES CONCERNING FINANCIAL INSTRUMENTS Financial assets measured at fair value as of September 30, 2025, comprise the existing exercise rights in connection with the above-mentioned convertible bond. The fair value of this derivative financial instrument was €379k as of September 30, 2025 (December 31, 2024: €335k). Financial liabilities measured at fair value did not exist as of September 30, 2025, nor as of December 31, 2024. The fair value of cash and cash equivalents, trade receivables and payables, and other current liabilities and other receivables approximates their carrying amount. The reason for this is primarily the short-term nature of such instruments. EVENTS AFTER THE REPORTING PERIOD With regard to "Events after the reporting period," we refer to the explanation under point A.6 of the interim group management report. PENTIIXAPHARM ZQWUIASRCTHEERNLBYERREIPCOHRTTQ31 22002255 ‌PENTIXAPHARM QUARTERLY REPORT 3 2025 ADDITIONAL INFORMATION RESPONSIBILITY STATEMENT To the best of our knowledge, and in accordance with the applicable accounting principles for interim reporting, the Interim Consolidated Financial Statements give a true and fair view of the financial position, assets, and results of operations of the Group. Furthermore, the Interim Group Management Report presents the course of business, including the business results and the position of the Group, in a manner that provides a true and fair view, and describes the principal opportunities and risks related to the expected development of the Group in the remainder of the fiscal year. Berlin, November 12, 2025 Dr. Dirk Pleimes, md (ceo/cmo) Henner Kollenberg (cbo) Chairman of the Member of the Executive Board Executive Board IMPRINT Pentixapharm Holding ag Robert-Rössle-Straße 10 13125 Berlin, Germany Contact +49 30 94 89 26 00 [email protected] https://www.pentixapharm.com IR-Contact Investor Relations +49 30 94 89 26 00 [email protected] Design & Layout 2dKontor, Aabenraa, Denmark

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