CytoMed Therapeutics - Earnings Call - H1 2025

Transcript

Yvonne Goh (CFO)

Hi, good morning and good evening, everyone. Can you hear me?

Operator (participant)

Yes, yes, Yvonne, we can.

Yvonne Goh (CFO)

Yeah, sorry, we have some technical issues just now. So I would like to thank you for your time to join our earnings call today. This is Yvonne, the CFO of CytoMed Therapeutics, and I have my team with me. So I would like to proceed with our presentation. Before kick-off of my presentation, please note that we will be making forward-looking statements today, which may differ materially from actual results. Please review our legal disclaimer included in all our presentations carefully. I will now give you a broad overview of the six months ended 30 June 2025 financial performance. Our revenue increased by 100% to SGD 156,000 for the six months ended 30 June 2025. Other operating income decreased by 8.5% year-on-year. We reported a net loss of SGD 2.25 million in 2025.

Our net loss will be reduced to SGD 1.44 million if the share-based payment, net currency exchange losses, the fair value losses on warrant liability, and the costs associated with being a public-listed company are excluded. Loss per share was SGD 0.19 for six months ended 30 June 2025. as of 30 June 2025, we have cash and bank balances of SGD 2.86 million. Our NTA stood at SGD 7.15 million. We move on to the next slide. The table shows the financial performance for the six months ended 30 June 2024 and 2025. In the first half of 2025, we started generating revenue of SGD 156,000 from private blood banking services after acquiring the license and certain assets under iPSC Depository. This is one of our subsidiaries in Malaysia. Other operating income decreased by 8.5% from SGD 422,000 in the first half of 2024 to SGD 386,000 in the first half of 2025.

This decrease was mainly driven by a reduction of SGD 105,000 in interest income from the placement of IPO proceeds in fixed deposit and partially offset by an increase of SGD 71,000 in research income. Other gains or losses, net. The group reported other gains of SGD 361,000 in the first half of 2024 compared to other losses of SGD 273 in the first half of 2025. The decrease was mainly due to the net loss in currency exchange of SGD 402,000 and a net loss of SGD 227,000 in fair value changes on warrant liability. Research expenses increased by 19.3% from SGD 974,000 in the first half of 2024 to SGD 1.16 million in the first half of 2025. The increase was mainly due to the increase in employee benefit, higher preclinical expenses, increase in clinical trial expenses, and also in the facility-related expenses. This is partially offset by a reduction in depreciation expenses.

Employee benefit expenses increased by SGD 86,000 from SGD 299,000 in the first half of 2024 to SGD 386,000 in the first half of 2025. The increase was mainly due to the recognition of share-based compensation amounting to SGD 87,000. Other expenses were SGD 558,000 and SGD 832,000 in the first half of 2024 and first half of 2025, respectively. The increase of SGD 274,000 was mainly due to share-based payment of SGD 361,000, higher investor relations expenses of SGD 24,000, and partially offset by a reduction of SGD 94,000 in company insurance expenses. We reported a net loss of SGD 1.09 million in the first half of 2024 compared to net loss of SGD 2.25 million in the first half of 2025. Net loss will be reduced to SGD 1.44 million if the share-based payment, net currency exchange losses, the fair value losses on warrant liability, and the costs associated with being a public-listed company are excluded.

Yeah, this table shows our balance sheet for 31 December 2024 and 30 June 2025. as of 31 December 2024, we had cash and bank balances of SGD 4.97 million compared to SGD 2.86 million as of 30 June 2025. Warrant liability were SGD 12,000 and SGD 88,000 as of 31 December 2024 and 30 June 2025, respectively. There are 72,371,000 warrants outstanding as of 30 June 2025. Fair value changes on warrant liability of SGD 76,000 were recorded in the statement of profit and loss account in the first half of 2025. Share-based payment reserves were SGD 448,000 as of 30 June 2025, arising from granting of ordinary shares to employee and service provider. Our NTA stood at SGD 8.95 million as of 31 December 2024 compared to SGD 7.15 million as of 30 June 2025. I will now proceed to update on our pipeline programs.

So for our first project, CTM-N2D, this is the CAR Gamma Delta T. Currently, we have a clinical trial with NUH Singapore. We have completed the dose level one in June 2025 and now proceeding with the dose level two. And we target to complete the phase one trial in 2026. For our project number two, iPSC-gdNKT, it's still under preclinical study. Project number three, CTM-GDT, this is the modified Gamma Delta T cell. The IND application is ongoing. For project number four, CTM-MSC for cartilage injury, we are collaborating with the Singapore hospital to do a preclinical study and trying to apply for the clinical trial in Singapore.

For our 2025 and beyond outlook, we have published in a peer-reviewed journal in September 2025 for the collaboration with MD Anderson Cancer Center on preclinical studies evaluating our second project, CTM-GDT for Lymphoma. We have also announced this press release today, just only at 7:00 A.M. We are also trying to apply the GDT trial in Malaysia and also elsewhere. Collaboration with international parties with income potential. Also, in August, we have signed the ATM agreement with Levity to raise up to $4.3 million. We are also rebranding our cord blood banking business as LongevityBank. This is our cGMP manufacturing facility. It has been audited by the MOH of Malaysia. This is our LongevityBank facility, which we acquired last year. I'll play the video to show you the facility. We are now open for the Q&A session. Hi, do you have any questions?

Yeah, can I end this meeting if we do not have received any questions? Yeah, thank you so much for your attending. We will end our earnings call for today. Thank you so.