Third Quarter and First Nine Months 2025 Financial Results and Business Update
Expanding the Boundaries of Radiopharmaceuticals
November 12, 2025
Expanding the Boundaries of Radiopharmaceuticals
Advanced clinical-stage Biotech
Headquartered in Berlin, Germany
More than 20 dedicated employees
Pioneering Programs in Cardiologyand Oncology
Business Model: R&D Model:Expertise and resources
Novel radiopharmaceuticals
Strong clinical development expertise
Solid global regulatory strategy
High-quality CMC
Since 2024 - PTP Frankfurt Prime Standard
Focused clinical development through major value inflection points up to Phase 3 and commercialization
November 2025
Pentixapharm・Third Quarter and First Nine Months 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
November 2025
Pentixapharm・Third Quarter and First Nine Months 2025 4
Positioned to Unlock New Opportunities
in Rapidly Growing Global Radiopharmaceutical Market
Global Radiopharmaceutical Market Size1) Radiopharmaceutical Market By Region
~7-10% CAGR
Latin America Middle East and Africa
$6.7-7.5 bn
2024-2025
Exp. $14-16 bn
1,92%
0,99%
Asia Pacific
25.4%
North America
44.0%
2024
Expected to grow
to ~$3.4 bn in 2028
Europe
2033-2034
Adoption driven by need: Increasing cancer
prevalence, limited options in late-stage disease, ability to pair high-resolution imaging with precision therapy
Addressing major diagnostic and therapeutic gaps, targeting high-need, low-competition indications not yet served by radiopharmaceuticals
27.8%
1) https://www.precedenceresearch.com/radiopharmaceuticals-market as of November 7, 2025
November 2025 Pentixapharm・Third Quarter and First Nine Months 2025 5
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
September 2025: PENTILULA Study Progress
CXCR4-targeting therapeutic lead candidate [177Lu]Lu-PentixaTher has advanced to the fourth dose level in the investigator-initiated Phase 1/2 study in acute myeloid
leukemia
October 2025:
Data at EANM Conference
Presentation of extensive clinical data from independent investigator-initiated studies assessing CXCR4-targeting diagnostic lead candidate, [68Ga]Ga-PentixaFor
November 2025
Pentixapharm・Third Quarter and First Nine Months 2025 6
Transforming Personalized Medicine: Investment Highlights
Driving Value as
Advanced Clinical-Stage Company
Broadening impact of radiopharmaceuticals with advanced pipeline addressing high value biology targets in oncology and beyond
Pioneering New
High-Value Indications
Combining new indications and new targets: generating solutions for high unmet need in cardiology and oncology
Seizing High-Growth Market Opportunities
Radiopharmaceutical market valued at 6.7-7.5 bn in 2024-2025 projected to be $14-16bn by 2033
Flagship Pipeline
Drives Near- and Long-Term Impact
PentixaFor/Ther: Phase 3-ready diagnostic in hypertension with and precise imaging agent in blood cancers, alongside first-in-class CD24 antibody platform
Leveraging
Strategic Supply Advantage
Secured isotope access through Eckert&Ziegler ensuring reliable scaling of diagnostic and therapeutic programs
November 2025
Pentixapharm・Third Quarter and First Nine Months 2025 7
Focused Competencies at the Core of the Development Value chain
Pentixapharm
Core Expertise and Value Drivers
Value Inflection
Discovery
Pre-clinical
IND/
CTIS
Clinical
Phase 1
Clinical
Phase 2
Diagnostic
Clinical Phase 3
In-license
Manufacturing
Radionuclide Supply
Including
Regulatory strategy
CMC radiopharmaceuticals
Theranostic Clinical Phase 3
Approval
Commercialization
Inlicence & Outsource
Development of proprietary assets Strategic Partnerships and Co-Development
Outlicense
November 2025 Pentixapharm・Third Quarter and First Nine Months 2025 8
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
November 2025 Pentixapharm・Third Quarter and First Nine Months 2025 9
Targeting CD24: Highly Specific Cancer TherapyFrom 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
Therapeutic Role in Oncology:
Highly glycosylated cell surface protein and immune checkpoint, contributing to cancer progression
Correlates with aggressiveness, metastasis and poor prognosis
Expressed on many solid tumors, but also, on healthy tissues
Targeting CD24 for payload delivery:
Pentixapharm Solution:
GT-008 monoclonal antibody targets a tumor-associated glycoform of CD24
Combines CD24 targeting with recognition of tumor-specific carbohydrate patterns, achieving superior tumor selectivity and enabling highly precise payload delivery
Promising preclinical radioconjugate efficacy data for aggressive female cancers
November 2025 Pentixapharm・Third Quarter and First Nine Months 2025 10
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
PTF302
CXCR4
Cardiovascular
Endocrine & Oncology
Hypertension - Primary Aldosteronism
Ph3 ready
IITs Hypertension -Primary Aldorsteronism IIT Morbus Cushing
PT-003
¹⁸F
CXCR4
(2nd-Gen)
PT003
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
PTT101
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
November 2025 Pentixapharm・Third Quarter and First Nine Months 2025 11
Upcoming Clinical Milestones Poised to Drive Significant Value
2025
2026
2027
2028
PTF302
FDA Scientific Advice Meeting expt. Q4 2025
PTF302
Open IND
expt. H1 2026
PTF302
First 50 patients dosed
in U.S./EU expt. H1 2027
PTF302
Topline data
expt. H2 2028
PT003:
Results Ph0 expt. H2 2028
Start PhI/II expt. H2 2028
PTT Hem-Onc: Open IND expt. H1 2026
IIT AML Therapy: Topline results expt. H1 2027
IIT MM Theranostic:
Results expt. H2 2028
IIT MM Diagnostic: Topline results expt. H2 2027
IIT AMLTheranostic:
Results expt. H2 2028
Oncology PTT101 and Investigator Initiated Studies (IIT)
Cardiology PTF302
Primary Aldosteronism
Programs in italics contingent on future funding
PTF = PentixaFor (radiodiagnostic) PTT = PentixaTher (radiotherapeutic)
AML = Acute Myeloid Leukemia MM = Multiple Myeloma
IND = Investigational New Drug
November 2025
Pentixapharm・Third Quarter and First Nine Months 2025
12
Pentixapharm Radiodiagnostics
Cardiology - Hypertension - Primary Aldosteronism
November 2025
Pentixapharm・Investor Presentation
13
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)
Patient with
hypertension
Our approach
[⁶⁸Ga]GaPentixaFor PET/CT
Lateralizing PA (mostly unilateral) 35% of the cases
Unilateral Adrenalectomy
(Surgery)
November 2025
Pentixapharm・Third Quarter and First Nine Months 2025 14
Advancing Toward Phase III: Redefining Diagnosis in Primary Aldosteronism with PentixaFor
Blinded independent central review
Adrenal Venous Sampling (AVS)
Local subtyping for unilateral disease
Confirmed Primary Aldosteronism
68[Ga]Ga-PentixaFor
PET/CT
Local subtyping for
unilateral disease
Screening
Blinded Diagnostics
Treatment
Adrenal Venous Sampling (AVS)
Biochemical Outcomes
Primary Endpoint
Unilateral adrenalectomy
Patient follow-up
+
vs.
Follow-up
November 2025 Pentixapharm・Third Quarter and First Nine Months 2025 15
PTF302: Pioneering CXCR4 in Primary Aldosteronism
Registrational
Phase 3 ready
2026
2027
2028
2029
Type C FDA Advice
EMA Prime Designation
⁶⁸Ga-PentixaFor
Phase 1/2 IIT Program completed
Registrational
Phase 3 ready
NDA / Market
Authorization
¹⁸F-2ndGen
Phase 0 and IIT Phase 1/2
Go / no-go criteria
Biodistribution
Efficacy PoC comparison
Phase 3 readiness
CXCR4 Radio-diagnostic in Cardiovascular Endocrinology
⁶⁸Ga-PentixaFor
Frontline therapy-enabling diagnostic for CXCR4 PA imaging
Favorable entry point based on generator availability, robust labeling, and strong clinical validation
¹⁸F-CXCR4
Accelerated ¹⁸F clinical development in case of strong ⁶⁸Ga diagnostic performance
Bridging studies to leverage ¹⁸F centralized production and complete geographic IP
November 2025
Pentixapharm・Third Quarter and First Nine Months 2025 16
Pentixapharm Radiotheranostics
Blood Cancers
November 2025
Pentixapharm・EIB Presentation
17
PentixaFor / PentixaTher CXCR4-directed Radiotheranostics Transforming Bone Marrow Conditioning in Blood Cancers
State-of-the-art bone marrow conditioning
Before stem cell transplantation (SCT)
Precision CXCR4-directed radiotheranostics
Transform bone marrow conditioning
PentixaFor radiodiagnostic:
Map CXCR4 tumor cells expression
High-dose
chemotherapy
and / or full-body
irradiation
Stem cell
transplantation
CXCR4 as potent predictive marker for efficacy of subsequent radiotherapy
PentixaTher radiotherapeutic: Destroy CXCR4-expressing tumor cells
Reducing tumor burden and freeing the bone marrow niche
Highly aggressive, strong system toxicity
Eradicate cancer cells and suppress patient's immune system
Targeting reduced conditioning toxicity
Radiotheranostics could precede or reduce aggressive chemo/radiation conditioning
while providing highly targeted efficacy
November 2025 Pentixapharm・Third Quarter and First Nine Months 2025 18
Where the Need Is Greatest: Global Incidence of Blood Cancers Requiring Bone Marrow Conditioning
Bone Marrow Conditioning & Treatment
Global Incidence cases per year
November 2025
Central Nervous System Lymphoma
~10,000-12,000
Acute Myeloid Leukemia
~145,000
Multiple Myeloma
~185,000
Pentixapharm・Third Quarter and First Nine Months 2025 19
Pentilula IIT Phase 1/2 Study of PentixaTher in Relapsed/Refractory Acute Myeloid Leukemia
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 = 6-21
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
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
Escalation phase n ≈ 6-21 Expansion phase
Cohort 4
10 GBq
n = 3-6 / 2.5 mCi x 4
Cohort 5
12.5 GBq
n = 3-6 / 2.5 mCi x 4
Cohort 2
5 GBq
n = 3-6 / 2.5 mCi x 4
Cohort 1
2.5 GBq
n = 3-6 / 2.5 mCi x 4
Completed
Cohort 3
7.5 GBq
n = 3-6 / 2.5 mCi x 4
Completed
In Progress
Completed
IIT: Investigator initiated study; ALL: Acute Lymphocytic Leukemia; AML: Acute Myeloid Leukemia; DLT: dose limiting toxicities
November 2025
Pentixapharm・Third Quarter and First Nine Months 2025 20
Pentixapharm Radiotheranostics
Antibody Platform
November 2025
Pentixapharm・EIB Presentation
21
Monoclonal Antibodies Drive Innovation in Radiopharma Pipelines at Every Stage of Development
Peptide / Ligand | Antibody | Small Molecule | Mini Proteins | UDC | |||||||||||||||||||||
¹⁷⁷Lu | |||||||||||||||||||||||||
²²⁷Ac | |||||||||||||||||||||||||
²¹²Pb | |||||||||||||||||||||||||
¹³¹ ¹²³ I | |||||||||||||||||||||||||
⁶⁷Cu | |||||||||||||||||||||||||
⁹⁰Y | |||||||||||||||||||||||||
²¹¹At | |||||||||||||||||||||||||
¹⁶¹Tb | |||||||||||||||||||||||||
¹⁸⁵ ¹⁸⁶ Re | |||||||||||||||||||||||||
¹⁵³Sm | |||||||||||||||||||||||||
UDC | |||||||||||||||||||||||||
Preclinical /Discover Phase 1
Phase 2
Phase 3 Commercialization
GT-008
https://www.linkedin.com/posts/nucleus-radiopharma_nucleus-radiopharma-radiopharmaceutical-pipeline-activity-7323404446149808129-4AEv
November 2025 Pentixapharm・Third Quarter and First Nine Months 2025
22
Preclinical Proof-of-Concept Study Demonstrating CD24-Targeting GT-008 Tumor Selectivity and Anti-Tumor Activity
GT-008
antibody
+
Radioisotope
177Lu or 225Ac
GT-008
radioisotope
Vehicle
225Ac-GT-008 10 kBq
225Ac-GT-008 3 kBq
Injection
1500
Tumor volume [mm3]
1000
500
225Ac-labeled GT-008
Tumor
cell death 5
or
4
single strand break double strand
DNA
Breast cancer
mouse model
DNA
break
1 1
2 2
3 3
Tumor cell
Binding to cancer cell
Internalization
Radioactive decay
0
Tumor volume [mm3]
1500
1000
500
0
7/8 CR
Treatment
Unlabelled GT-008
225Ac-GT-008 10 kBq
225Ac-GT-008 3 kBq
Complete response
7 out of 8 animals
0 10 20 30 40 50 60 70 80
Days after randomization
Vehicle
177Lu-GT-008 10 MBq
177Lu-GT-008 3 MBq
Treatment
Unlabelled GT-008
177Lu-GT-008 10 MBq
177Lu-GT-008 3 MBq
Complete response
2 out of 8 animals
177Lu-labeled GT-008
2/8 CR
0 10 20 30 40 50 60 70 80
Days after randomization
November 2025
Pentixapharm・Third Quarter and First Nine Months 2025 23
Targeting CD24: Closing the Gap for Female Cancers
Asset for strategic partnering
for
co-development or out-licensing
Breast Cancer: $38.0 billion (9%)
Endometrial Cancer: $27.1 billion (6%)
Ovarian Cancer: $2.5 billion (2-14%)
Still high unmet medical need:Limited treatment options: Despite advances with PARP inhibitors, immunotherapies and antibody-drug conjugates, still many patients with recurrences and resistance
Early diagnosis remains a challenge: Many gynecological tumors, especially ovarian cancer, are often only discovered at a late stage.
Heterogeneity of tumors: Gynecological tumors have a high degree of molecular variability, which leads to different response rates to existing therapies.
November 2025
Pentixapharm・Third Quarter and First Nine Months 2025 24
Pentixapharm Financials
Current Financial Position
25
Balance Sheet Third Quarter 2025
30.09.2025
30.09.2025
in € thousands 31.12.2024 in € thousands 31.12.2024
Assets Liabilities and Equity
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 |
Non-current assets Equity
November 2025
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 |
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 |
Pentixapharm・Third Quarter and First Nine Months 2025 26
Profit & Loss Third Quarter 2025
in € thousands | 01-09/2024 | 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 | -171 | -2.22 8 |
Earnings before interest, taxes, depreciation, and amortization (EBITDA) | -171 | -10.424 |
Depreciation and amortization of non-current assets Earnings before interest and taxes (EBIT) | 0 -171 | -2.803 -13.227 |
Financial result | 0 | 246 |
Earnings before taxes (EBT) | -171 | -12.981 |
Income tax expense | 0 | 287 |
Profit or loss/ Consolidated comprehensive income attributable to the shareholders of the parent company Earnings per share | -171 | -12.694 |
Diluted/ Basic (€ per share) | -3,42 | -0,51 |
Weighted average number of shares outstanding (diluted/ basic) - in thousands. | 50 | 24.783 |
November 2025
Pentixapharm・Third Quarter and First Nine Months 2025 27
Cash Flow Statement Third Quarter 2025
01-09/2025
in € thousands 01-09/2024
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 f inancing 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 |
November 2025
Pentixapharm・Third Quarter and First Nine Months 2025 28
Financial Guidance Full-Year 2025
FY 2025 | Total Loss: €18 million | |||
R&D Expenses: €7 million | Personnel & Other OPEX: €8 million | Depreciation: €3.7 million | Grants: €0.6 million | |
November 2025
Pentixapharm・Third Quarter and First Nine Months 2025 29
Events After the Reporting Date
After the reporting date of September 30, 2025, the Management Board of Pentixapharm Holding AG resolved in October 2025 to implement measures aimed at optimizing the organizational and cost structure.
These measures are intended to further increase operational efficiency and are expected to extend the company's financial runway into the first quarter of 2027.
Implementation will proceed in stages and will take effect starting in the fourth quarter of 2025.
November 2025
Pentixapharm・Third Quarter and First Nine Months 2025 30
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