ExpreS2ion Announces Financial Results for the Second Quarter and First Half of 2026

CEO Bent Frandsen comments:
“The second quarter delivered on two fronts. We completed our financing for the current programme, and our clinical data continued to mature. Following the third DSMB review in August, 12 of 13 evaluable patients in the ES2B-C001 Phase I trial have shown an anti-HER2 antibody response, with no dose-limiting toxicities across all three dose cohorts. The DSMB recommended expanding the 450 µg cohort, which will strengthen the dataset we take into partnering discussions. Our priorities for the remainder of 2026 are the Phase I primary readout targeted for end-2026 and the translational data package that sits alongside it. Together these form the basis for partnering ES2B-C001 and taking it into Phase II.”

Summary of 2026 second quarter results, April – June 2026
Key income statement figures, SEK '000s

• Operating income: 11,547 (3,419)
• Profit/loss after financial items: -11,746 (-11,448)
• Profit/loss for the period: -9,701 (-10,025)

Key balance sheet figures, SEK '000s

• End of period cash balance: 34,378 (48,771)
• End of period total assets: 57,793 (73,478)
• End of period equity / asset ratio*: 72% (58%)

Number of shares

• Number of shares at end of the period: 23,748,983 (2,658,346)
• Average number of shares: 12,861,964 (2,658,346)
• Average number of shares (after dilution)**: 12,861,964 (2,658,346)

Earnings per share (EPS), SEK***

• Earnings per share for the period based on average number of shares: -0.75 (-3.77)
• Diluted earnings per share for the period: -0.75 (-3.77)

Summary of 2026 first half-year results, January – June 2026
Key income statement figures, SEK '000s

• Operating income: 18,415 (6,376)
• Profit/loss after financial items: -23,802 (-24,416)
• Profit/loss for the period: -19,291 (-21,465)

Key balance sheet figures, SEK '000s

• End of period cash balance: 34,378 (48,771)
• End of period total assets: 57,793 (73,478)
• End of period equity / asset ratio*: 72% (58%)

Number of shares

• Number of shares at end of the period: 23,748,983 (2,658,346)
• Average number of shares: 8,221,877 (2,658,346)
• Average number of shares (after dilution)**: 8,221,877 (2,658,346)

Earnings per share (EPS), SEK***

• Earnings per share for the period based on average number of shares: -2.35 (-8.07)
• Diluted earnings per share for the period: -2.35 (-8.07)

Figures in parentheses are from the same period in 2025.
*Equity ratio: Shareholder’s equity divided by total capital.
**Potential dilutive instruments excluded from diluted EPS (anti-dilutive in a loss period): TO13 and TO13 guarantor commission warrants (20,218,750), and share-based compensation programmes: TO9, TO12 and TO14 (1,287,449). Prior year: warrants (805,542) and share-based compensation programmes (100,000). Comparatives have been restated on the same basis.
***Earnings per share defined as profit/loss for the period divided with the average number of shares for the period.

Webcast presentation of second quarter and first half 2026 results
On 20 August 2026 at 10:00 CEST, ExpreS2ion CEO Bent Frandsen and CFO Keith Alexander will present a company update and the second quarter and first half 2026 results and answer investors’ questions. More information and registration can be found via this link: https://www.inderes.dk/en/videos/expres2ion-biotech-presentation-of-h1-2026-interim-report

Key developments during the quarter included:

• On 1 April, ExpreS2ion Biotech Holding AB announced that the Extraordinary General Meeting resolved to appoint Michel J. Baijot as a new member of the Board of Directors.

• On 10 April, the Company announced the publication of its patent application titled “Recombinant Production of Protein Having Xylosylated N-Glycans” by the Hong Kong Intellectual Property Department (HKIPD).

• On 22 April, ExpreS2ion highlighted new Phase Ia clinical data from the University of Oxford’s BIO-002 study, providing further independent validation of the Company’s ExpreS2 platform in human clinical use.

• On 4 May, ExpreS2ion announced the final outcome of the rights issue of units. The Rights Issue was subscribed to approximately 59.9 percent, of which approximately 43.0 percent with and without unit rights and approximately 16.9 percent by guarantors, corresponding to 19,868,750 units at a subscription price of SEK 1.60 per unit and initial proceeds of approximately SEK 31.8 million before transaction costs. A further 350,000 units were issued to guarantors in set-off of guarantee commission, bringing total proceeds to approximately SEK 32.4 million before transaction costs and the number of shares outstanding to 23,748,983. If all 20,218,750 warrants of series TO 13 issued in connection with the Rights Issue are exercised at SEK 1.60 per share, the Company will receive additional proceeds of approximately SEK 32.4 million before transaction costs.

• On 19 May, ExpreS2ion announced an update to the Phase I programme for ES2B-C001. The updated design is intended to deliver a more informative translational data package, adds a maintenance treatment component, and is supported by a revised Phase II plan. ExpreS2ion also reported additional preliminary Phase I observations, including anti-HER2 antibody responses in 9 of 9 evaluable patients and no safety signals of concern identified to date, including in the first patient dosed in the 450 µg cohort. The Phase I primary readout target of end-2026 and Phase II initiation target of mid-2027, subject to partnering or additional financing, remained unchanged.

• On 4 June, ExpreS2ion published its Annual Report for 2025.

• On 25 June, ExpreS2ion announced the resolutions of the Annual General Meeting, including adoption of the income statement and the balance sheet as presented in the 2025 Annual Report, allocation of profit, discharge from liability, election of the Board of Directors, auditor and renumeration, implementation of incentive program 2026/2032, and authorisation for the Board of Directors to issue shares, convertible and/or warrants.

After the reporting period, subsequent events of note were:

• On 6 July, ExpreS2ion announced the publication by the USPTO of a patent application covering recombinant production methods for proteins with xylosylated N-glycans. The publication extends the geographic reach of the Company’s glyco-engineering IP position to the United States and includes preclinical data demonstrating increased antibody responses from xylosylated antigens, supporting the potential of the ExpreS2 platform across oncology and infectious disease applications.

• On 14 August, ExpreS2ion reported a positive outcome from the third scheduled DSMB review of the ES2B-C001 Phase I trial, with no dose-limiting toxicities observed across all three dose cohorts. Preliminary data showed anti-HER2 antibody responses across 12 of 13 evaluable patients, and the DSMB recommended expanding the highest 450 µg dose cohort by three additional patients to strengthen the safety and immunogenicity dataset. The Phase I primary readout remained targeted for end-2026 and the Phase II initiation target was updated to the second half of 2027.

Certified Adviser
Redeye Nordic Growth AB

For further information about ExpreS2ion, please contact:
Bent U. Frandsen, CEO
Keith Alexander, CFO
E-mail: investor@expres2ionbio.com

This press release constitutes inside information that ExpreS2ion Biotech Holding AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation 596/2014. The information was sent for publication, through the agency of the contact persons set out above, at the time stated by the Company’s news distributor, MFN, at the publication of this press release.

About ExpreS2ion
ExpreS2ion is a biotechnology company focused on the development of innovative active immunotherapies and vaccines for cancer and infectious diseases. The company has developed the ExpreS2™ platform, a proprietary protein expression technology used across more than 500 recombinant protein and virus-like particle (VLP) projects spanning research, diagnostics, and therapeutic development. Proteins produced using the ExpreS2 platform are being evaluated in multiple clinical programmes worldwide. The platform has also been applied in partnered development programmes that have progressed into late-stage clinical evaluation, including Phase III studies that have met their primary endpoints. The platform, marketed as GlycoX-S2™, includes functionally modified glycosylation variants designed to enhance immunogenicity and pharmacokinetics. ExpreS2ion develops novel VLP-based vaccines in association with AdaptVac ApS, of which ExpreS2ion owns 34%. ExpreS2ion Biotech Holding AB is listed on Nasdaq First North Growth Market. For additional information, please visit www.expres2ionbio.com.