KBC Securities - MAAT PHARMA SA (MAAT) MaaT Pharma 1Q25 reiterates pipeline timelines, cash runway into October 2025

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KBC Securities

Jacob Mekhael

MaaT Pharma 1Q25 reiterates pipeline timelines, cash runway into October 2025

MaaT reported 1Q25 results with revenues of € 1.1m (1Q24 € 0.8m), and a cash position of € 24.4m (YE24: € 20.2m), which provides a cash runway into October 2025. Pipeline timelines were reiterated and we look forward to phase 2 data for MaaT013 in combination with immune checkpoint inhibitors in metastatic melanoma in 2H25, and hope to learn more about the company's progress with respect to partnering discussions for MaaT013 in aGvHD in Europe as we approach MAA submission in June 2025. We reiterate our € 17 TP and Buy rating.

14/05/2025 1 EN

Underlying

MAAT PHARMA SA

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FR0012634822 Euronext Paris France

Provider

KBC Securities

We are a financial services provider for several types of professional clients, each with distinct needs.

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Analysts

Jacob Mekhael

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MaaT Pharma 1Q25 reiterates pipeline timelines, cash runway into October 2025

We are a financial services provider for several types of professional clients, each with distinct needs.

Morning Notes : ABN NA, AGFB BB, BEKB BB, COFB BB, DIE BB, SHUR BB, MAAT FP, DEME BB, PHVS US

Morning Notes : MAAT FP

Morning Notes : ABN NA, AGFB BB, BEKB BB, COFB BB, DIE BB, SHUR BB, MAAT FP, DEME BB, PHVS US

Agfa FIRST LOOK: Weak Radiology Solutions and strong HealthCare IT in 1Q

D'Ieteren New 2024-2028 targets in line with expectations, but will this be enough?

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