Alzinova publishes interim report for the period January - June 2026

Three months, April–June 2026

• Loss after financial items amounted to SEK -5,449 thousand (-7,684).
• Cash flow for the period amounted to SEK 1,927 thousand (7,918).
• Cash and cash equivalents at the end of the period amounted to SEK 13,309 thousand (11,510).
  

Six months, January– June 2026

• Loss after financial items amounted to SEK -11,473 thousand (-13,415).
• Cash flow for the period amounted to SEK 12,989 thousand (-3,986).
• Cash and cash equivalents at the end of the period amounted to SEK 13,309 thousand (11,510).

Amounts in brackets: Corresponding period in previous year.

Significant events during the second quarter 2026

• Alzinova announced that the company has initiated a research collaboration with Amsterdam University Medical Center (UMC). The collaboration aims to further develop a blood-based test that measures naturally occurring antibodies against toxic amyloid-β oligomers in healthy individuals, based on Alzinova’s proprietary Aβ42CC oligomer technology (the ALZ-101 antigen). The objective is to establish a robust assay format with clinically relevant sensitivity and specificity. A successful outcome would lay the foundation for a commercially attractive diagnostic test with a significantly shorter time to market compared with traditional drug development.

• Alzinova shared an interview in which Dr. Sabbagh discusses his views on the development of treatments for Alzheimer’s disease and the potential of ALZ-101.

• Alzinova announced that the Company’s scientific article presenting the clinical results from the ALZ-101 Phase Ib study has been published online in the peer-reviewed journal Alzheimer’s Research & Therapy.

• Alzinova secured subscription commitments and guarantee undertakings covering a total of 40,510,240 TO4 warrants, corresponding to 80 per cent of the gross proceeds the Company could receive through the exercise of the warrants.

• Alzinova announced that approximately 94.2 per cent of the TO4 warrants, whose exercise period ran from 25 May to 8 June, were exercised. In total, 47,679,168 warrants were exercised at a subscription price of SEK 0.32 per share, providing the Company with approximately SEK 15.3 million before issue-related costs.

• Alzinova announced that the Company has entered into a Letter of Intent (LoI) with Fujirebio, a global provider of in vitro diagnostic solutions, regarding the potential development and commercialization of a blood-based diagnostic test for Alzheimer’s disease based on Alzinova’s proprietary Aβ42CC oligomer technology. The parties intend to evaluate a broader collaboration following the outcome of the ongoing validation work being conducted together with Amsterdam UMC, with the first results expected during the third quarter of 2026.

A word from CEO Tord Labuda

Dear shareholders,

The second quarter of 2026 brought further important progress for Alzinova. Together, these advances strengthen our position ahead of the next phase of the Company’s development. In parallel with continued preparations for ALZ-101, our focus is on realizing the significant potential and opportunities within diagnostics, an area that has attracted considerable global interest. Our objective is to capitalize on this in the near term.

Diagnostics takes the next commercial step
Developments within diagnostics have represented one of the most important advances during the quarter. After initiating our collaboration with Amsterdam UMC in April, we took the next step in June by entering into a Letter of Intent with Fujirebio regarding the potential development and global commercialization of our blood-based test for Alzheimer’s disease. To me, this is a clear indication that our technology not only has strong scientific relevance, but also tangible commercial value for leading players within diagnostics.

The Letter of Intent with Fujirebio now provides us with a clear framework for continued discussions, based on the ongoing validation work. The work is progressing according to the previously communicated timeline, with initial results expected during the third quarter of 2026. If the validation results confirm the potential we see today, we believe this could pave the way for a more definitive collaboration and licensing agreement, further strengthening diagnostics as a commercial pillar for Alzinova.

The diagnostics track is particularly interesting as it offers a significantly shorter path to market than traditional drug development. At the same time, the work is being conducted independently of the clinical development of ALZ-101, although we see clear long-term synergies between therapy and diagnostics within the same disease-modifying platform.

ALZ-101 – continued work ahead of the next clinical phase
Following the positive results from the Phase 1b study, we have continued our work to prepare ALZ-101 for the next phase of clinical development. Work on CMC and scale-up is progressing according to plan and represents a major and important part of the preparations for Phase II.

During the quarter, the clinical results for ALZ-101 were also published in the peer-reviewed journal Alzheimer’s Research & Therapy. The publication makes the results available to the international research community and represents important external scientific validation of our clinical development program. Together with FDA Fast Track status and our collaboration with Dr. Marwan Sabbagh as Global Principal Investigator, this provides us with a stronger foundation for the continued development of ALZ-101 and our discussions with potential partners.

The process with the potential partner in Saudi Arabia has taken longer than we previously anticipated, partly due to an internal reorganization at our counterpart and continued regional disruptions in the area, which is important for us to be transparent about. The dialogue is continuing while we also hold discussions with other potential partners regarding ALZ-101.

With positive clinical data, FDA Fast Track designation, external scientific validation and a clearly differentiated, oligomer-specific mechanism of action, we believe that ALZ 101 is strongly positioned in the development of the next generation of disease-modifying treatments for Alzheimer’s disease.

Financial flexibility for the next steps
The quarter has also strengthened our financial position. The outcome of the TO4 warrant program was strong, with an exercise rate of more than 94 percent, providing Alzinova with approximately SEK 15.3 million before issue costs. This gives us additional flexibility as we seek to continue advancing ALZ-101 towards Phase II, progress our partner discussions and, at the same time, capitalize on the opportunities now emerging within diagnostics.

Focus on the next steps
The quarter has also strengthened our financial position. The outcome of the TO4 warrant program was strong, with an exercise rate of more than 94 percent, providing Alzinova with approximately SEK 15.3 million before issue costs. This gives us additional flexibility as we seek to continue advancing ALZ-101 towards Phase II, progress our partner discussions and, at the same time, capitalize on the opportunities now emerging within diagnostics.

Thank you for your continued support.

Gothenburg, August 2026

Tord Labuda, CEO of Alzinova AB

For further information, please contact:
Tord Labuda, CEO
E-mail: info@alzinova.com

About Alzinova AB
Alzinova AB is a Swedish biopharmaceutical company in clinical development specializing in the treatment of Alzheimer's disease, where the starting point is to attack toxic amyloid-beta oligomers. The lead candidate ALZ-101 is a therapeutic vaccine against Alzheimer's disease. Alzinova's patented AβCC peptide technology makes it possible to develop disease-modifying treatments that target the toxic amyloid-beta oligomers that are central to the onset and development of the disease with great accuracy. From a global perspective, Alzheimer's disease is one of the most common and devastating neurological diseases, with around 40 million affected today. Based on the same technology, the company is also developing the antibody ALZ-201, which is currently in preclinical development, and the goal is to further expand the pipeline. The company's Certified Adviser on Nasdaq First North Growth Market is Mangold Fondkommission AB. For more information about Alzinova, please visit: www.alzinova.com