260820Mendus2026Q2ENG
MENDUS AB INTERIM REPORT APRIL– JUNE 2026
Building momentum across myeloid blood cancers
Clinical development gathered momentum during the second quarter of 2026, broadening the positioning of vididencel in acute myeloid leukemia (AML) and expanding into chronic myeloid leukemia (CML). For the remainder of the year, Mendus anticipates further clinical catalysts validating the clinical and commercial potential of vididencel across these myeloid blood cancers. The ongoing CADENCE trial in AML following intensive chemotherapy reached the first 20-patient enrollment milestone, while the combination with less-intensive first-line treatment will be studied in the DIVA trial. During the quarter, Mendus also completed preparations and received regulatory approvals for the VITAL-CML trial, addressing CML patients with a suboptimal response to standard of care treatment. The company has reported successful enrollment of the first safety and tolerability stage, supporting a first readout in the second half of 2026. Mendus entered a collaboration with the South Australian Health and Medical Research Institute (SAHMRI) to prepare for the VITAL-TFR2 trial in CML. The trial is anticipated to start in the second half of 2026 and will evaluate whether vididencel can improve treatment-free remission (TFR) success in patients with a previously failed TFR attempt. To support its growing clinical development activities, Mendus established a Clinical Advisory Board composed of internationally recognized clinical experts. The US investment bank Lucid Capital Markets initiated coverage of the Mendus share, increasing visibility towards US investors. The growing visibility of our programs among the international clinical community and institutional investors further supports awareness of the opportunities ahead.
Erik Manting, Ph.D.
Chief Executive Officer
Significant events of Q2 2026
- Net sales for the period amounted to KSEK – (-)
- Result for the period amounted to KSEK -21,377 (-22,686)
- Earnings and diluted earnings per share totaled to SEK -0.34 (-0.45)
- Mendus completed preparations and received regulatory approvals for the VITAL-CML trial, marking the start of the clinical development program for its lead product vididencel in chronic myeloid leukemia (CML). The VITAL-CML trial will evaluate the impact of vididencel in CML patients with sub-optimal responses to tyrosine kinase inhibitors (TKIs).
- At the Cancer Immunotherapy Conference (CIMT), Mendus presented preclinical data confirming the combination potential for vididencel with a broad range of TKIs, including next-generation allosteric ("STAMP") inhibitors used for the treatment of CML.
- At the American Society of Clinical Oncology conference (ASCO), Mendus reported additional positive results from the Phase 1b ALISON trial in high-grade serous ovarian cancer (HGSOC). The data show that vididencel induces broad anti-tumor immune responses associated with improved progression-free survival.
- Based on authorizations provided at the 2026 Annual General Meeting, Mendus issued and repurchased redeemable and convertible Class C shares, facilitating the remuneration of board members and the payment of employee bonuses in shares.
Significant events after the end of the reporting period
- Mendus announced the successful enrollment of the first stage of the VITAL-CML trial, supporting an initial readout based on safety, tolerability and early molecular responses in the second half of 2026.
- Mendus announced a collaboration with the South Australian Health and Medical Research Institute (SAHMRI) in preparation for the VITAL-TFR2 trial in CML. The goal of the VITAL-TFR2 trial is to assess whether vididencel can increase the likelihood of successful TFR in patients with a previously failed TFR attempt.
- Mendus established a Clinical Advisory Board (CAB) composed of international clinical experts to support the company's clinical development programs in myeloid malignancies.
Financial summary
| Amounts in KSEK | Apr-Jun 2026 | Apr-Jun 2025 | Jan-Jun 2026 | Jan-Jun 2025 | Jan-Dec 2025 |
| Revenue | – | – | – | – | – |
| Operating profit/loss | -20,499 | -24,129 | -40,594 | -54,351 | -113,491 |
| Net profit/loss | -21,377 | -22,686 | -42,399 | -53,169 | -113,258 |
| Earnings/loss per share, before and after dilution (SEK) | -0.34 | -0.45 | -0.68 | -1.05 | -2.17 |
| Cash | 59,884 | 58,908 | 59,884 | 58,908 | 64,656 |
| Shareholders' equity | 545,293 | 597,282 | 545,293 | 597,282 | 585,065 |
| Number of employees | 19 | 30 | 19 | 29 | 19 |
The full report is attached as PDF and is also available on the company’s website: https://mendus.com/investors/financial-reports/
Webcast investor call, August 20 at 14:00 CEST
The company will host a live presentation and business update today at 14:00 CEST. The presentation will be held in English and includes a Q&A session.
If you wish to participate via webcast please register using the link below. Via the webcast you will be able to ask written questions.
https://portals.qbrick.com/520c8ac4
If you wish to participate via teleconference please register using the link below. After registration you will be provided phone numbers and a conference ID to access the conference. You can ask questions verbally via the teleconference.
https://event-registration.qbrick.com/AccDlMhN1SbO0mSeNwyp64iGw/019ff551-6595-7984-861c-72e68843e0a9/qbrick-meet-e6b334ca-c4ba-4f2b-bf86-7e8b69bd623b