• In July the Company announced the outcome of the Company’s rights issue of up to 14,039,590 shares (the “Rights Issue”), for which the subscription period ended on 26 June 2025. In the Rights Issue, 6,133,159 shares, corresponding to around 43.7 percent of the Rights Issue were subscribed through subscription rights. Additionally, 277,458 shares, corresponding to around 2.0 percent of the Rights Issue were subscribed without subscription rights. 5,670,164 shares, corresponding to around 40.4 percent of the Rights Issue were subscribed through guarantee undertakings. The Rights Issue will provide the Company with proceeds of approximately SEK 48.3 million before deduction of costs related to the Rights Issue.
• In September the Company announced the submission of a clinical trial application (CTA) to the UK’s Medicines and Healthcare products Regulatory Agency (MHRA), and local ethics committee in the UK for the approval to conduct a Phase IIa clinical proof-of-concept study in women suffering from vulvodynia, a severe chronic pain condition affecting approximately 10 percent of women worldwide. The study will be conducted together with MAC Clinical Research in the UK.

Business highlights after this reporting period

• In November the Company announced that its Clinical Trial Application (CTA) for the planned Phase IIa clinical proof-of-concept study in women with vulvodynia has been approved by the UK Medicines and Healthcare products Regulatory Agency (MHRA) and a local ethics committee. First patients are expected to be enrolled in Q4 2025.

Financial Highlights

Solidity: equity divided by assets.

The Board of Directors have decided that interim reports will be published in English only.

Link to the full report
https://www.initiatorpharma.com/en/investors/reports-and-presentations/