AH: Heidelberg Pharma AG Announces Updated Guidance

Ladenburg, Germany, 1 October 2024 – Heidelberg Pharma AG (FSE: HPHA), a clinical stage biotech company developing innovative Antibody Drug Conjugates (ADCs), today announces that it has adjusted its guidance for the current fiscal year published on 18 June 2024 downwards on the cost side.

The Heidelberg Pharma Group expects for the financial year 2024 sales and other income between EUR 10.0 million and EUR 12.0 million (previously: EUR 9.0 million to EUR 12.0 million). Operating expenses are expected to be in a corridor between EUR 30.0 million and EUR 33.0 million (previously: EUR 36.0 million to EUR 40.0 million). In the 2024 financial year, fewer costs have been incurred for the Phase I/IIa trial than originally planned. The expenses forecast for this will be incurred in the further course of the study in the next financial year.

Based on these adjustments, an operating result (EBIT) between EUR -19.0 million and EUR -22.0 million is expected (previously: EUR -25.5 million to EUR -29.5 million).

For 2024, Heidelberg Pharma anticipates cash requirements of EUR 13.0 million to EUR 16.5 million (previously: EUR 18.0 million to EUR 22.0 million). Monthly cash consumption is expected to range between EUR 1.1 million and EUR 1.4 million per month (previously: EUR 1.5 million and EUR 1.8 million). Based on the existing planning and available funds, the company's financing is still secured until mid-2025.

Taking into account a further expected payment of USD 75.0 million from HealthCare Royalty, the company assumes that financing will be available until the end of 2026.

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