Barinthus Biotherapeutics | 10-Q: FY2025 Q3 Revenue: USD 0

Revenue: As of FY2025 Q3, the actual value is USD 0.

EPS: As of FY2025 Q3, the actual value is USD -0.36, beating the estimate of USD -0.45.

EBIT: As of FY2025 Q3, the actual value is USD -15.53 M.

Segment Revenue

• License Revenue: Barinthus Biotherapeutics plc reported no license revenue for the three and nine months ended September 30, 2025, compared to $14.969 million for the same periods in 2024, due to AstraZeneca’s strategic decision to withdraw marketing authorization for Vaxzevria within Europe.

Operational Metrics

• Net Loss: The company reported a net loss of $14.571 million for the three months ended September 30, 2025, compared to a net loss of $8.129 million for the same period in 2024. For the nine months ended September 30, 2025, the net loss was $55.355 million, compared to $40.592 million in 2024.
• Research and Development Expenses: R&D expenses decreased to $5.390 million for the three months ended September 30, 2025, from $11.139 million in 2024. For the nine months ended September 30, 2025, R&D expenses were $21.633 million, down from $33.926 million in 2024.
• General and Administrative Expenses: These expenses were $5.165 million for the three months ended September 30, 2025, down from $13.420 million in 2024. For the nine months ended September 30, 2025, the expenses were $33.188 million, up from $26.615 million in 2024.

Cash Flow

• Net Cash Used in Operating Activities: For the nine months ended September 30, 2025, net cash used in operating activities was $43.737 million, compared to $42.026 million in 2024.
• Net Cash Provided by/(Used) in Investing Activities: The company reported net cash provided by investing activities of $0.414 million for the nine months ended September 30, 2025, compared to net cash used of $0.614 million in 2024.
• Net Cash Provided by Financing Activities: For the nine months ended September 30, 2025, net cash provided by financing activities was $2, compared to $1.326 million in 2024.

Future Outlook and Strategy

• Core Business Focus: Barinthus Biotherapeutics plc is prioritizing the development of a pipeline for autoimmune and inflammatory (I&I) indications enabled by its proprietary SNAP-TI platform. The lead candidate, VTP-1000, is in a Phase 1 clinical trial for celiac disease, with data expected by the end of 2025.
• Non-Core Business: The company announced a merger agreement with Clywedog Therapeutics, Inc., expected to close in the first half of 2026. This strategic combination aims to advance a portfolio of clinical-stage candidates targeting metabolic and autoimmune diseases.