Oslo, Norway, 20 August 2025 - Zelluna (OSE: ZLNA), a company pioneering
allogeneic "off-the-shelf" T-cell receptor-based natural killer (TCR-NK)
therapies for the treatment of cancer, announces its second quarter 2025 results
today.
Webcast scheduled for 20 August 2025, at 09:00 (CET). Link to webcast here
(https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20250820_18).
Second Quarter 2025 Business Update
Highlights
* On track toward IND/CTA submission in 2H 2025 and first-in-human trial
initiation in 1H 2026.
* Broadened regulatory engagement: following positive FDA pre-IND feedback (Q2
2024), submitted a scientific advice briefing package to the UK MHRA in July
2025 for ZI-MA4-1.
* Initiated GMP manufacturing of clinical material in July 2025, a major step
in clinical readiness; scalable platform developed with Catalent can deliver
hundreds of doses from a single batch.
* Strong support from leading clinical experts and sites; refined trial design
and moving to operational readiness ahead of IND/CTA submission
Financial highlights
* Total operating expenses amounted to MNOK 38.4 in Q2 2025, and MNOK 67.8
YTD. Total loss was MNOK 37.5 for the period and MNOK 66.0 YTD.
* Net negative cash flow from operations was MNOK 59.4 in Q2 2025, and net
decrease in cash and cash equivalents, excluding currency effects, was MNOK
59.0 during Q2 2025. Cash and cash equivalents amounted to MNOK 76.0 as per
30 June 2025.
* The current cash is expected to give a financial runway into Q2 2026,
slightly shortened from the previously guided 'through Q2 2026' due to some
one-off cost elements mainly related to investment in the successful
development of the TCR-NK manufacturing process. The expected financial
runway reflects that the cash burn rate is forecasted to come down
significantly from the Q2 2025 level.
* On 27 May 2025, Zelluna ASA issued 227,096 new shares, each with a
subscription price of NOK 26, to settle an amount of EUR 500,000 of an
already triggered option exercise fee towards Inven2.
The quarterly report and presentation will be published at 07:00 CET on 20
August 2025, and will be publicly available on the Zelluna website. The Company
will conduct a webcast at 09:00 CET the same day, and questions can be submitted
throughout the event. The webcast will be archived for replay following the
conference call. Link to webcast here
(https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20250820_18).
For further information, please see www.zelluna.com or contact:
Namir Hassan, CEO, Zelluna ASA
Email: namir.hassan@zelluna.com
(https://www.globenewswire.com/Tracker?data=Z8lLmV-
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Phone: +44 7720 687608
Hans Vassgård Eid, CFO, Zelluna ASA
Email: hans.eid@zelluna.com
(https://www.globenewswire.com/Tracker?data=xw_BegYpiBk6hexlBFgOsk7tj2DC2GZ9wD-
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Phone: +47 482 48632
About Zelluna ASA
Zelluna's mission is to deliver transformative treatments with the capacity to
cure advanced solid cancers, in a safe and cost-efficient manner, to patients on
a global scale. The Company aims to do this by combining the most powerful
elements of the immune system through pioneering the development of "off-the-
shelf" T-cell receptor (TCR) guided natural killer (NK) cell therapies (TCR-NK).
The TCR-NK platform offers a unique mechanism of action with broad cancer
detection capability to overcome the diversity of tumours and will be used "off-
the-shelf" to overcome scaling limitations of current cell therapies. The lead
program is a world's first MAGE-A4 targeting "off-the-shelf" TCR-NK for the
treatment of various solid cancers; a pipeline of earlier products follows. The
Company is led by a management team of biotech entrepreneurs with deep
experience in discovery through clinical development of TCR and cell-based
therapies including marketed products.
For more information, please visit www.zelluna.com
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This stock exchange announcement was published by Joachim Midttun, Financial
Manager at Zelluna ASA, on 20 August 2025 at 07:00 CET.