ZLNA ZELLUNA ASA

Zelluna ASA Reports First Quarter 2025 Financial Results and Provides General Business Update

Zelluna ASA Reports First Quarter 2025 Financial Results and Provides General Business Update

Oslo, Norway, 8 May 2025 – Zelluna (OSE: ZLNA), a company pioneering allogeneic ‘off the shelf’ T Cell Receptor based Natural Killer (TCR-NK) cells for the treatment of cancer, announces its first quarter 2025 results today.

Conference call and webcast scheduled for 8 May, 2025, at 09:00 (CET). Link to webcast .



First Quarter 2025 Business Update

Highlights

  • On 3 March 2025, Zelluna ASA announced the successful completion of a business combination between Ultimovacs ASA and Zelluna Immunotherapy AS, as well as a private placement resulting in gross proceeds of MNOK 51.7 at a subscription price of NOK 2.60 per Offer Share. These contemplated transactions were initially announced on 17 December 2024. All conditions for completion of the business combination were met, including confirmation by Euronext Oslo Børs that the requirements for the continued listing were met, as well as approval of the Prospectus and regulatory clearances. The name change from Ultimovacs ASA to Zelluna ASA was registered with the Norwegian Register of Business Enterprises, and the ticker code of the Company was changed from "ULTI" to "ZLNA".
  • On 22 April 2025, Zelluna reported that it has successfully developed, scaled and automated its proprietary manufacturing process for its TCR-NK cell therapies. This milestone represents a major advancement in the Company’s preparation for clinical entry to provide life-changing, innovative treatments for patients battling cancer. The proprietary manufacturing process is applicable to any product emerging from the Company’s pipeline which means any TCR-NK product can be plugged into the established manufacturing process strengthening Zelluna’s dominance of the TCR-NK therapeutic field. Based on the established manufacturing process, hundreds of doses could be produced from a single manufacturing batch highlighting scalability and low cost of goods potential.

Financial update

  • Total operating expenses amounted to MNOK 22.2 in Q1 2025.
  • Net negative cash flow from operations was MNOK 36.0 in Q1 2025. Proceeds from issuance of equity was MNOK 51.7, and net cash acquired in the business combination was MNOK 92.3, resulting in a net increase in cash and cash equivalents, not including currency effects, of MNOK 108.0 during Q1 2025. Cash and cash equivalents amounted to MNOK 135.3 as per March 31, 2025.
  • A reverse share split was executed on 31 March 2025 and registered in the Norwegian Register of Business Enterprises. In the reverse split, 10 shares became 1 share, thus the new number of outstanding shares in the Company is 20,227,066, each with a par value of NOK 1. In relation to the reverse share split, a share issue of 7 shares was necessary for the total number of shares to be divided by 10.



The quarterly report and presentation will be published at 07:00 CET on 8 May, 2025, and will be publicly available on the Zelluna website. The Company will conduct a conference call and webcast at 09:00 CET the same day. Questions can be submitted throughout the event. The webcast will be archived for replay following the conference call. Link to webcast .

For further information, please contact:

Namir Hassan, CEO, Zelluna ASA

Email: 

Phone:

Hans Vassgård Eid, CFO, Zelluna ASA

Email: 

Phone:

About Zelluna ASA

Zelluna’s mission is to deliver transformative treatments with the capacity to cure advanced solid cancers, in a safe and cost-efficient manner, to patients on a global scale. The Company aims to do this by combining the most powerful elements of the immune system through pioneering the development of “off the shelf” T cell receptor (TCR) guided natural killer (NK) cell therapies (TCR-NK). The TCR-NK platform offers a unique mechanism of action with broad cancer detection capability to overcome the diversity of tumours and will be used “off the shelf” to overcome scaling limitations of current cell therapies. The lead program is a world’s first MAGE-A4 targeting “off the shelf” TCR-NK for the treatment of various solid cancers; a pipeline of earlier products follows. The Company is led by a management team of biotech entrepreneurs with deep experience in discovery through clinical development of TCR and cell-based therapies including marketed products.

For more information, please visit 

This stock exchange announcement was published by Joachim Midttun, Financial Manager at Zelluna ASA, on 8 May, 2025 at 07:00 CET.

Attachments



EN
08/05/2025

Underlying

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on ZELLUNA ASA

 PRESS RELEASE

Disclosure of Shareholding – Gjelsten Holding AS

Disclosure of Shareholding – Gjelsten Holding AS Issuer: Zelluna ASAISIN: NO0013524942Date of event triggering the notification: 27 May 2025Threshold crossed: 5% In accordance with the Norwegian Securities Trading Act Section 4-3, Gjelsten Holding AS ("Gjelsten") hereby notifies that its ownership interest in Zelluna ASA ("Zelluna") has fallen below the 5% threshold. Following a share capital increase in Zelluna through a private placement registered in VPS on 27 May 2025, Gjelsten’s ownership has changed as follows: Previous shareholding: 5.02% of the share capitalNew shareholding: 4.96%...

 PRESS RELEASE

ZLNA – New registered share capital

ZLNA – New registered share capital Oslo, 27 May 2025: Zelluna ASA (the "Company") refers to the announcement on 24 May 2025 regarding a resolution by the Company's Board of Directors to issue 227,096 new shares in the Company against set-off of an option exercise fee. The share capital increase related to the issuance of the new shares has now been registered with the Norwegian Register of Business Enterprises, and the Company's new registered share capital is NOK 20,454,162, divided into 20,454,162 shares, each with a par value of NOK 1. For further information, please contact: Hans V...

 PRESS RELEASE

ZLNA – Issuance of shares through set-off of option exercise fee

ZLNA – Issuance of shares through set-off of option exercise fee Oslo, 24 May 2025: Zelluna ASA (the "Company") refers to the resolution by the Company's Annual General Meeting held on 29 April 2025 to grant the Company's Board of Directors an authorisation to issue new shares, each with a subscription price of NOK 26, to settle an amount of EUR 500,000 of an already triggered option exercise fee towards Inven2. The Company's Board of Directors has today resolved to issue 227,096 new shares in the Company to Inven2 against set-off of such amount of EUR 500,000. After the share capital incr...

 PRESS RELEASE

Zelluna ASA Reports First Quarter 2025 Financial Results and Provides ...

Zelluna ASA Reports First Quarter 2025 Financial Results and Provides General Business Update Oslo, Norway, 8 May 2025 – Zelluna (OSE: ZLNA), a company pioneering allogeneic ‘off the shelf’ T Cell Receptor based Natural Killer (TCR-NK) cells for the treatment of cancer, announces its first quarter 2025 results today. Conference call and webcast scheduled for 8 May, 2025, at 09:00 (CET). Link to webcast . First Quarter 2025 Business Update Highlights On 3 March 2025, Zelluna ASA announced the successful completion of a business combination between Ultimovacs ASA and Zelluna Immuno...

 PRESS RELEASE

Zelluna ASA: Invitation to First Quarter 2025 results webcast presenta...

Zelluna ASA: Invitation to First Quarter 2025 results webcast presentation Oslo, Norway, 30 April 2025 – Zelluna (OSE: ZLNA), a company pioneering allogeneic ‘off the shelf’ T Cell Receptor based Natural Killer (TCR-NK) cells for the treatment of cancer, invites to a webcast presentation of its first quarter 2025 results, on Thursday, May 8, 2025. The presentation can be followed as a live webcast accessed through a link on at 09:00 CET on Thursday, May 8, 2025. The webcast presentation will be available on the Zelluna website, and it will be possible to post questions during the presenta...

ResearchPool Subscriptions

Get the most out of your insights

Get in touch