Fourth Quarter and FY 2025 Financial Results and Business Update
Expanding the Boundaries of Radiopharmaceuticals
March 26, 2026
Expanding the Boundaries of Radiopharmaceuticals
Advanced clinical-stage Biotech
Headquartered in Berlin, Germany
More than 30 dedicated employees
Pioneering Programs in Cardiovascular
and Oncology
Business Model
R&D Model
Expertise and resources
Novel radiopharmaceuticals
Strong clinical development expertise
Solid global regulatory strategy
High-quality CMC
Strategic Backing
Eckert & Ziegler backed platform with secured GMP supply infrastructure
Focused clinical development through major value inflection points
March 26, 2026
Pentixapharm・Fourth Quarter and FY 2025 3
Radiodiagnostics: High-resolution PET-CT imaging
Imaging
Stratify patients for tailored treatment
Map disease distribution at baseline
Track tumor burden with precision
Radiotheranostics
Seamlessly combining imaging and therapy to improve patient outcomes
Radiotherapeutics: precision therapy
Therapy
Deliver targeted radioactive payload to tumor cells
Destroys cancer cells through targeted radiation delivery
Optimize tumor penetration / accessibility / lethality through choice of isotope
Radiotheranostics: A New Paradigm in Precision Medicine
March 26, 2026
Pentixapharm・Fourth Quarter and FY 2025
4
Focused Competencies at the Core of the Development Value chain
Pentixapharm
Core Expertise and Value Drivers
Value Inflection
In-license
Discovery Pre-clinical
IND/ CTIS
Clinical Phase 1
Clinical Phase 2
Diagnostic Clinical Phase 3
Manufacturing
Radionuclide Supply
Research & Development combined with
Regulatory strategy
Outlicense
CMC & radiopharmaceutical expertise
Theranostic Clinical Phase 3
Approval &
Commercialization
March 26, 2026
Pentixapharm・Fourth Quarter and FY 2025
Inlicence & Outsource
Development of proprietary assets Strategic Partnerships and Co-Development
5
Building Pipeline Momentum Across Oncology and Cardiology
Lead | Pre- | IND/ | |||||||
Candidate | Target | Indication | Optimization | clinical | CTIS | Phase I | Phase II | Phase III | Sponsor |
Radiodiagnostics
PentixaFor
PT-001
⁶⁸Ga
PANDA
CXCR4
Cardiovascular
Endocrine & Oncology
Hypertension - Primary Aldosteronism
Ph3 ready
IITs Hypertension -Primary Aldorsteronism IIT Morbus Cushing
PT-003
¹⁸F
CXCR4
(2nd-Gen)
Radiotheranostics
CNS Lymphoma
Ph1/2
IITs MM, NHL
Myeloma
IITs ALL/AML
Solid Tumors (female cancers)
CD24
GT-008
(IgG1 mAb Radioligand)
TechnicalUniversity of Munich
Centre Hospitalier Universitaire de Nantes
emia and Multiple
Leuk
Hematologic cancers
CXCR4
PentixaTher PT-002
90Y, 177Lu
Multi Modal
Antibody Pipeline | CD44 | Solid Tumors |
AML = Acute Myeloid Leukemia ALL = Acute Lymphoid Leukemia
CNSL = Central Nervous System Lymphoma
MM = Multiple Myeloma
NHL = Non-Hodgkin Lymphoma
RAC = Radioimmunoconjugates/Radiopharmaceutical Antibody Conjugates
PT = Peptide based portfolio
GT = Glyco-Antibody based portfolio
March 26, 2026
Pentixapharm・Fourth Quarter and FY 2025 6
A Sharper, More Focused Pentixapharm Following Completed Streamlining
Q1 Q2 Q3 Q4
Myelo001
Program discontinued following portfolio prioritization
CXCR4 and CD24
Strategic re-orientation of non-clinical and clinical development
Focus on clinical development in high-value Indications:
Cardiovascular PANDA & Hem-Onc PENTHERA
September 2025 PENTILULA Study Progress: PentixaTher AML Phase 1/2 study advanced to higher dose cohort
October 2025 Data at EANM Conference: Extensive clinical data for PentixaFor presented
December 2025 FDA Type B pre-IND: Feedback supports Phase 3 PANDA program
March 26, 2026
Pentixapharm・Fourth Quarter and FY 2025 7
Pentixapharm FY 2025 Financials & Financial Guidance
March 26, 2026
Pentixapharm・Fourth Quarter and FY 2025
8
Balance Sheet FY 2025
31.12.2025
31.12.2025
in € thousands 31.12.2024 in € thousands 31.12.2024
Assets Liabilities and Equity
Subscribed capital | 24.795 | 24.795 |
Capital reserves | 37.475 | 38.727 |
Retained earnings/Accumulated deficit | -11.927 | -28.438 |
Treasury shares | -12 | -12 |
Equity attributable to shareholders of the parent company | 50.331 | 35.072 |
Total equity | 50.331 | 35.072 |
Non-current liabilities | ||
Deferred tax liabilities | 3.930 | 3.328 |
Non-current provisions 2 | 0 | |
Total non-current liabilities | 3.932 | 3.328 |
Current liabilities | ||
Trade payables | 8.943 | 2.435 |
Other current liabilities | 5.098 | 1.024 |
Total current liabilities | 14.041 | 3.459 |
Total liabilities and equity | 68.304 | 41.859 |
Non-current assets Equity
Other intangible assets | 35.354 | 32.282 |
Property, plant and equipment | 269 | 36 |
Deferred tax assets* | 916 | 3.328 |
Financial assets | 484 | 227 |
Total non-current assets | 37.023 | 35.873 |
Current assets | ||
Cash and cash equivalents | 23.232 | 4.624 |
Trade receivables | 6.805 | 31 |
Income tax receivables | 134 | 189 |
Other current assets | 1.110 | 1.142 |
Total current assets | 31.281 | 5.986 |
Total assets | 68.304 | 41.859 |
*prior-year figure for deferred tax assets has been restated
9
Profit & Loss FY 2025
in € thousands | 01-012/2024 | 01-12/2025 |
Revenue | 118 | 93 |
Income from the sale of rights/patents | 6.700 | 0 |
Other operating income | 8.480 | 543 |
Cost of materials and external services for research and development | -3.718 | -6.796 |
Personnel expenses | -1.431 | -6.516 |
Other operating expenses | -8.077 | -3.454 |
Earnings before interest, taxes, depreciation, and amortization (EBITDA) | 2.072 | -16.130 |
Depreciation and amortization of non-current assets Earnings before interest and taxes (EBIT) | -19.044 -16.972 | -3.730 -19.860 |
Financial result | 422 | 347 |
Earnings before taxes (EBT) | -16.550 | -19.513 |
Tax result* | 4.623 | 3.002 |
Profit or loss/ Consolidated comprehensive income attributable to the shareholders of the parent company Earnings per share | -11.927 | -16.511 |
Diluted/ Basic (€ per share) 0 | -1 | |
Weighted average number of shares outstanding (diluted/ basic) - in thousands. | 24.783 | 24.783 |
*prior-year figure for deferred tax assets has been restated
10
Cash Flow Statement FY 2025
in € thousands | 01-12/2024 | 01-12/2025 |
Profit/loss | -11.927 | -16.511 |
Depreciation, amortization and impairment losses | 19.044 | 3.730 |
Loss on disposal of fixed assets 0 | 200 | |
Change in deferred taxes* | -4.631 | -3.015 |
Income taxes paid | -36 | -55 |
Other non-cash expenses/income | -59 | 1.212 |
Change in trade receivables and other assets not attributable to investing or financing activities | -7.583 | 7.053 |
Change in trade payables and other liabilities not attributable to investing or financing activities | 864 | -10.587 |
Cash flow from operating activities | -4.328 | -17.973 |
Payments for investments in intangible assets and property, plant and equipment | -1 | -625 |
Cash inflow from the contribution of Pentixapharm AG | 8.707 | 0 |
Payments for acquisition of subsidiaries | -470 | 0 |
Cash flow from investing activities: | 8.236 | -625 |
Proceeds from capital contributions | 19.274 | 0 |
Cash flow from financing activities: | 19.274 | 0 |
Effect of exchange rate changes on cash and cash equivalents 0 | -10 | |
Net increase/decrease in cash and cash equivalents | 23.182 | -18.608 |
Cash and cash equivalents at the beginning of the period | 50 | 23.232 |
Cash and cash equivalents at the end of the period | 23.232 | 4.624 |
*prior-year figure for deferred tax assets has been restated
11
FY 2026 Financial Guidance
The Company guidance for the full year 2026 is as follows:
FY 2026 | Total Loss: €21,6 million | |||
R&D Expenses: €9,7 million | Personnel & Other OPEX: €7,4 million | Depreciation & Other non-cash expenses: €4,1 million | ||
Interest expenses:
€0,4 million
12
Diagnostic and Therapeutic Program Overview
March 26, 2026
Pentixapharm・Fourth Quarter and FY 2025
13
Targeting CXCR4: A Biologically Validated Target
From Oncology to Cardiology - CXCR4 Anchors Next-Generation Radiopharmaceuticals
CXCR4: One of the most thoroughly researched biological targets of the last decade with a central role in the bone marrow
CXCR4 Theranostic in Oncology:
Key role in tumor growth and metastasis
Highly present in multiple aggressive blood cancers
Clinically validated in ~100 patients selected with ⁶⁸Ga-PentixaFor and treated with ⁹⁰Y- and 177Lu-PentixaTher
CXCR4 Diagnostics in Hypertension:
Increased presence in adrenal tumors overproducing aldosterone
Diagnostic marker to determine lateralization
of aldosterone overproduction
Emerging clinical evidence in ~1,600 patients
diagnosed with
⁶⁸Ga-PentixaFor
March 26, 2026
Pentixapharm・Fourth Quarter and FY 2025 14
Cardiovascular Program
March 26, 2026
Pentixapharm・Fourth Quarter and FY 2025
15
The Problem: A Massively Underdiagnosed Disease
1.3B
People with hypertension globally
5-10%
Of hypertensives have
Primary Aldosteronism
~2%
Screening rate in resistant hypertension
The Diagnostic Bottleneck
More than > ~20% prevalence of Primary Aldosteronism in treatment-resistant HTN, yet only ~2% screened
AVS (gold standard) is invasive, technically difficult, 30-96% success rates
Result: Millions with potentially curable disease never reach surgery
March 26, 2026
Pentixapharm・Fourth Quarter and FY 2025
AVS
Bottleneck
Patients with PA
16
Transforming the Diagnostic Pathway in Primary Aldosteronism
Subtyping
Subtyping Results
Therapy
Adrenal CT/ Adrenal Venous Sampling (AVS)
Standard of Care
Nonlateralizing PA
(mostly BAH)
65% of the cases
Mineralpocorticoid receptor antagonist (Lifelong medication)
New Class of Aldosterone Synthase Inhibitors
launch expected in H2 2026
Lateralizing PA
(mostly unilateral)
35% of the cases Unilateral Adrenalectomy
(Surgery)
Patient with
hypertension
March 26, 2026
Pentixapharm・Fourth Quarter and FY 2025 17
Transforming the Diagnostic Pathway in Primary Aldosteronism
Subtyping
Subtyping Results
Therapy
[⁶⁸Ga]GaPentixaFor PET/CT
Nonlateralizing PA
(mostly BAH)
65% of the cases
Mineralpocorticoid receptor antagonist (Lifelong medication)
New Class of Aldosterone Synthase Inhibitors
launch expected in H2 2026
Patient with
hypertension
Adrenal CT/ Adrenal Venous Sampling (AVS)
Lateralizing PA
(mostly unilateral)
35% of the cases Unilateral Adrenalectomy
(Surgery)
March 26, 2026
Pentixapharm・Fourth Quarter and FY 2025 18
P3
The New Hypertension Drug Class Aldosterone Synthase Inhibitor Wave: Billions Flowing Into Aldosterone-Driven HTN and Primary Aldosteronism
The Market Opportunity
▼ Every ASI Rx triggers PA subtyping need
ASI Peak Sales: $5B+ (baxdrostat alone) AstraZeneca paid $1.3B to acquire; projects major growth driver. Lorundrostat adds further expansion.
Treatment-Resistant HTN: ~$10 to 15B by 2032
Fastest-growing segment (17% CAGR)
Anti-HTN Drug Market: ~$27B (2025)
1.3 billion patients globally
Cardiovascular & Endocrine | Nea prec | r-empty: non-o linical through | ncology Phase 2 | [68Ga]PentixaFor | |
Neuro & CNS | Primary aldosteron IND H1 2026 | FPI H2 | ism 2026 Amyloid PET Tau PET | |||
Oncology |
Pluvicto Lutathera Xofigo PSMA PET Pylarifz /Illuccix | ||||
Preclinical | Phase 1 | Phase 2 | Phase 3 | Approved |
Clincal stage
Therapeutic (oncology) Therapeutic (non-oncology) Diagnostic (oncology) Diagnostic (non-oncology)
PentixaFor
Source: Frontiers in Medicine, Clinical Trials.gov, Citline Trialtrove, company disclosures. Bubble positions illustrative
March 26, 2026
Pentixapharm・Fourth Quarter and FY 2025
19
Oncology Program
March 26, 2026
Pentixapharm・Fourth Quarter and FY 2025
20
Where the Need Is Greatest: Global Incidence of Blood Cancers Requiring Bone Marrow Conditioning
Global Incidence cases per year
Central Nervous System Lymphoma
~10,000-12,000
Bone Marrow Conditioning & Treatment
Acute Myeloid Leukemia
~145,000
Multiple Myeloma
~185,000
March 26, 2026
Pentixapharm・Fourth Quarter and FY 2025
21
Pentilula IIT Phase 1/2 Study of PentixaTher in
Relapsed/Refractory Acute Myeloid Leukemia reached highest dose group !
Phase I/II study assessing radioligand therapy with [177Lu]Lu-PentixaTher (PT-002) for relapsed/refractory CXCR4+ acute leukemia
Primary Objective: To determine the MTD/DLT of Lu177-PentixaTher (PT-002)
Population: n = 15 to 21
Relapsed or refractory CXCR4+ acute leukemia
Methodology: 3+3 Design
Imaging: 68Ga-PentixaFor (PT-001)
Therapy: Stand-alone [177Lu]Lu-PentixaTher
Sites: Clinic in France
Timeline: Enrollment: 24m, Follow-up: 12m FPFV: Q424
LPLV: Q426
Data readout: Q427
CT Number: NCT06356922
Completed
IIT: Investigator initiated study; ALL: Acute Lymphocytic Leukemia; AML: Acute Myeloid Leukemia; DLT: dose limiting toxicities
March 26, 2026
Pentixapharm・Fourth Quarter and FY 2025
Cohort 1
2.5 GBq
n = 3 / 2.5 mCi x 4
Secondary endpoints:
Overall Rate of Response
Complete Response Rate
Overall Survival
Leukemia-Free survival
Primary endpoint:
Number of participants with treatment-related adverse events
Recommended Phase 2 Dose
In Progress
Cohort 4
10 GBq
n = 3 / 2.5 mCi x 4
Cohort 5
12.5 GBq
n = 3-6 / 2.5 mCi x 4
Escalation phase n ≈ 6-21 Expansion phase
Cohort 2
5 GBq
n = 3 / 2.5 mCi x 4
Completed
Cohort 3
7.5 GBq
n = 3 / 2.5 mCi x 4
Completed
Completed
22
Targeting CD24: Highly Specific Cancer Therapy
From Checkpoint Modulation to Targeted Radiotherapy -CD24 Antibody-Based Radioconjugates
CD24: A growing body of translational and early clinical work positions CD24 as a new
therapeutic gateway in oncology and immunology
Targeting CD24 for payload delivery:
Pentixapharm Solution:
GT-008 monoclonal antibody targets a tumor-associated glycoform of CD24
TumTuomr voorluvmoleu[mmem3]
Combines CD24 targeting with recognition of tumor-specific carbohydrate patterns, achieving superior tumor selectivity and enabling highly precise payload delivery
Promising preclinical radioconjugate and antibody drug conjugate efficacy data for aggressive female cancers
+
225Ac-labeled GT-008
1500 Treatment
1000
500
Vehicle
225Ac-GT-008 10 kBq
225Ac-GT-008 3 kBq
0 7/8 CR
0 10 20 30 40 50 60 70 80
Days after randomization
Complete response
7 out of 8 animals
March 26, 2026
Pentixapharm・Fourth Quarter and FY 2025 23
2026 Outlook: Milestones
March 26, 2026
Pentixapharm・Fourth Quarter and FY 2025
24
Upcoming Clinical Milestones Poised to Drive Significant Value
Oncology Theranostic PTT101 &
Investigator Initiated Studies (IIT)
Oncology Diagnostic IIT
Cardiovascular Primary Aldosteronism Phase III PANDA PROGRAM
H1 2026
H2 2026
2027
2028
PANDA Phase 3 IND
IND
expt. H1 2026
Potential Fast-Track status
c:
PTT Hem-On
Open IND
H1 2026
PANDA Phase 3 Study
FPFV
expt. H2 2026
PANDA Phase 3 Study
First 50 patients dosed
in U.S./EU expt. H1 2027
IIT MM Diagnostic: Topline results expt. H2 2027
IIT AML Therapy: Topline results expt. H1 2027
PANDA Phase 3 Study
Topline data
expt. H2 2028
18F-CXCR4 P0/1 Study
Results Ph0 expt. H2 2028
Start PhI/II expt. H2 2028
IIT MM Theranostic:
Results expt. H2 2028
IIT AMLTheranostic:
Results expt. H2 2028
Programs in italics contingent on future funding
Cash Reach expected until March 2027
PTF = PentixaFor (radiodiagnostic) PTT = PentixaTher (radiotherapeutic)
March 26, 2026
AML = Acute Myeloid Leukemia MM = Multiple Myeloma
IND = Investigational New Drug
Pentixapharm・Fourth Quarter and FY 2025 25
Transforming Personalized Medicine: Investment Highlights
lue as
Clinical-Stage Company Flagship Pipeline
mpact of radiopharmaceuticals with Drives Near- and Long-Ter
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cology and beyond hypertension with and precise ima
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antibody platform
g New
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olutions for high unmet need in nd oncology
Leveraging
Strategic Supply Advantag
gh-Growth Secured isotope access through Ec
pportunities ensuring reliable scaling of diagnos
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Driving Va
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kert&Ziegler tic and
March 26, 2026
Pentixapharm・Fourth Quarter and FY 2025 26
Thank you
https://www.pentixapharm.com
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