Molecular Partners AG

Molecular Partners AG (MOLN), a clinical-stage biotech focused on DARPin therapeutics for oncology, reported FY 2025 results with no revenues, down from $5.0M in 2024 and $7.0M in 2023, all from Novartis radioligand collaboration which ended in Q3 2024. Total operating expenses decreased 12% YoY to $58.1M, driven by lower R&D spend of $40.2M (vs $48.6M prior year) amid program prioritization, including MP0533 and MP0317. SG&A expenses fell 13% to $15.2M. Restructuring costs of $2.7M reflected headcount reduction of 34 positions. Operating loss narrowed to $58.1M from $61.2M. Net finance result swung to -$3.5M loss from $7.2M gain, due to FX losses. Net loss was $61.7M or CHF -2.00/share, vs $54.0M loss prior year. Cash burn from operations was $51.3M, with $72.5M investing inflow from time deposits. Cash and equivalents ended at $82.7M plus $10.4M deposits, supporting runway into 2028. Balance sheet shows $102.1M assets, $80.3M equity. FY25 highlights include MP0712 Phase 1/2a start and Orano Med expansion to 10 RDT programs.

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