Interim report
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Second Quarter Report Q2-2026 1 April – 30 June Cessatech A/S - CVR no. 41293055 Strandvejen60, 2900 Hellerup, Denmark
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Copenhagen, Denmark – 28 August 2026 - Cessatech A/S (“Cessatech” or the “Company”), a late -stage paediatric specialty company developing and commercializing hospital medicines for children, today announced the interim report for the second quarter of 2026, together with an update on key developments after the reporting period. The report is available on Cessatech’s website. Second quarter financial results 2026 (1 April – 30 June) • Net revenue was KDKK 0 • Operating result was KDKK -3.469 • Net result was KDKK -2.773 • Cash at bank end of the period was KDKK 2.348 • Earnings per share* was DKK -0,15 • Solidity** was 77% Operational highlights • Entered collaboration with Rigshospitalet to advance CT004 in paediatric patients Events after the reporting period • CHMP opinion received for KemSu/CT001; re-examination process initiated with EMA • CT001 ready for shipment to initial U.S. hospitals as launch activities commence *Earnings per share (DKK per share ): Operating result divided by the average number of shares during the period. The total number of shares as of 30 June 2026 amounted to 18.576.437 shares, the average number of shares during the second quarter was 18.576.437 **Solidity: Total equity divided by total capital and liability The Interim Report has not been reviewed by the Company’s auditor. CT001 enters US commercial phase and Cessatech expands its paediatric pipeline Jes Trygved, CEO at Cessatech said: “During the second quarter, we continued to advance Cessatech’s strategy while expanding our paediatric portfolio with CT004, a new programme developed in collaboration with Rigshospitalet. Following the quarter, we reached an important commercial milestone with the release of the first commercial batch of CT001 in the U.S., enabling launch activities with selected hospitals to begin. In Europe, while we were disappointed by the CHMP opinion on KemSu/CT001, we remain confident in the overall benefit -risk profile and, together with Proveca, are pursuing the established re - examination process. With CT001 now entering its commercial phase in the U.S. and CT004 broadening our pipeline, we believe Cessatech is well positioned for the next stage of its development.” Cessatech A/S Announces Financial Results for the Second Quarter of 2026 The Company Cessatech A/S Strandvejen 60 DK-2900 Hellerup CVR no.: 41293055 Spotlight Cessatech is listed on Spotlight Denmark (CESSA) Board of Directors Martin Olin (Chairman) Rachel Curtis Gravesen Flemming Steen Jensen Charlotte Videbæk Executive Management Jes Trygved (CEO) Martin Juhl (CSO)
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Operational highlights for Q2 and events after the reporting period • Entered collaboration with Rigshospitalet to advance CT004 in paediatric patients • CHMP opinion received for KemSu/CT001; re-examination process initiated with EMA • CT001 ready for shipment to initial U.S. hospitals as launch activities commence *Earnings per share (DKK per share): Operating result divided by the average number of shares during the period. The total nu mber of shares as of 30 June 2026 amounted to 18.576.437 shares, the average number of shares during the second quarter was 18.576.437 **Solidity: Total equity divided by total capital and liability Key figures Table of contents Key figures A word from our CEO Quarterly highlights and key figures Cessatech in brief Pipeline Financial development Miscellaneous Income statement Balance sheet Statement of changes in equity Cash flow statement Q2 2026 Q2 2025 1H 2026 2025 01/Apr/26 01/Apr/25 01/Jan/26 01/Jan/25 Amounts in DKK ´000´ 30/Jun/26 30/Jun/25 30/Jun/26 31/Dec/25 Income statement Operating Loss -3,469 -3,554 -7,231 -14,967 Net financial items 8 -9 -12 -2 Loss for the period -2,773 -2,785 -6,001 -10,904 Balance sheet Cash at Bank 2,348 15,051 2,348 8,591 Ratios Solvency ratio 77% 75% 77% 91% Earnings per share (DKK) -0.15 -0.16 -0.32 -0.60 For definitions of ratios, see under accounting policies
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During the second quarter of 2026, Cessatech continued to advance its strategy of developing and commercialising specialty hospital medicines for children, while also expanding the pipeline with a new programme addressing a significant unmet medical need. Expanding the pipeline with CT004 In June, we entered into a collaboration with the University Hospital of Copenhagen, Rigshospitalet, to advance CT004, an intravenous formulation of melatonin for the prevention and management of post-anaesthetic agitation and emergence delirium in children. A Phase II study has been initiated and Cessatech retains worldwide commercial rights to the programme. The collaboration is well aligned with our partnership -driven model and provides an opportunity to expand our portfolio while maintaining a focused and capital-efficient organisation. Important developments after the quarter Important developments have also taken place after the end of the quarter. In Europe, the CHMP adopted a negative opinion on the Paediatric Use Marketing Authorisation application for KemSu/CT001. While we were naturally disappointed by the opinion, we remain confident in the overall benefit -risk profile and the comprehensive data supporting the application. Together with our partner Proveca, we are pursuing the established re -examination process and will continue the constructive dialogue with the EMA. We believe the clinical programme provides a strong basis for this continued assessment. 4 A Word from our CEO Entering the commercial phase and expanding our paediatric portfolio At the same time, we reached an important milestone in the United States. Following the completion of manufacturing and quality activities, STAQ Pharma successfully released the first commercial batch of CT001 at the end of August. CT001 is now available for shipment to initial U.S. hospitals, enabling launch activities to begin together with our partners. This represents a significant step for Cessatech as CT001 moves from development into commercialisation . We recognise that establishing the product in the market will take time, but having commercial product available provides an important foundation for the work ahead. Well positioned for the next stage With CT001 entering its commercial phase in the U.S., the European regulatory process continuing, and CT004 adding another promising programme to our pipeline, we believe Cessatech is well positioned for the next stage of its development. We remain focused on execution and on our ambition to bring better, age -appropriate treatment options to children in hospital settings. Thank you for your continued support. Jes Trygved Chief Executive Officer
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Cessatech in brief Developing and commercialising non -invasive hospital therapies for paediatric pain and sedation Cessatech is a pivotal -stage paediatric biotechnology company focused on addressing high - impact unmet needs in acute and emergency care. The company targets a structurally underserved paediatric hospital market, characterised by widespread off -label use and limited availability of approved, age -appropriate therapies. Cessatech develops specialty hospital medicines designed to improve treatment experience for children while supporting efficient adoption and durable commercial relevance in hospital practice. Pipeline targeting high-impact unmet needs in paediatric pain and sedation, with a focus on scalable, evidence -based solutions The company’s lead program, CT001, is an analgesic nasal spray for the treatment of acute and planned painful procedures in children and is advancing toward near -term commercialisation. CT001 is designed as a ready -to-use, needle-free, fast-acting treatment intended to improve care delivery in hospital settings. Additional pipeline programs are being advanced using the same focused development approach through development, approval, and launch. An efficient, partner -driven business model The company runs a lean organisation and engages best -in-class partners for regulatory, manufacturing, and commercial execution. Commercialisation is pursued through a partner - led model, including partnerships with Proveca in Europe and STAQ Pharma and Ventis Pharma in the United States. This approach limits fixed costs and enables staged capital deployment toward de -risking and monetisation, while preserving strategic control and long - term economics through revenue sharing, milestones, and royalties. Cessatech is led by an experienced leadership team with a strong track record in drug development and product launches across Europe, the United States, and Asia. 5 Pivotal-stage biotech company addressing significant unmet paediatric needs
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Cessatech is advancing a pipeline comprising three assets, all addressing an unmet medical need in the treatment of children.The lead candidate, CT001, a fixed-dose nasal spray for treating acute pain in children, is in the pre-launch phase in the US and the EU. CT002, a non-invasive intranasal sedation for children undergoing medical procedures (e.g., MRI scans), has an approved PIP in the EU. CT003, a topical anaesthetic, is currently in pre-clinical development.CT004, an intravenous treatment for pediatric emergence delirium is currently in Phase II clinical development. 6 Pipeline Paediatric pipeline addressing unmet medical needs Use Indication Pre-clinical Phase I Phase II Phase III Commercial CT001 Combination therapy Nasal spray Acute pain CT002 Sedative-analgesic Nasal spray Sedation CT003 Local analgesia Local gel Topical anesthesia CT004 Melatonin receptor agonist IV Emergence delirium CT001 CT002 CT003 CT001 - Nasal treatment specifically developed for paediatric acute pain CT001 is Cessatech’s lead asset, a fixed-dose nasal spray for the management of moderate to severe acute pain in children aged 1–17 years, including pain related to medical procedures. The product is designed to offer rapid onset, ease of use and acceptable tolerability, with a safety profile consistent with the known properties of its components and no new safety concerns identified. CT002 - non-invasive nasal spray for conscious sedation of children CT002 is a nasal spray intended for procedural sedation in children who need to remain calm and still during diagnostic or therapeutic procedures. CT002 aims to offer predictable onset, is easy to administer and has a favourable sedative profile suitable for paediatric use. As a needle-free option, it reduces the discomfort and anxiety associated with intravenous (IV) sedation, which is the standard practice today. CT004 - Intravenous treatment for paediatric emergence delirium CT004 is an intravenous melatonin-based formulation for the prevention and management of emergence delirium in children following general anesthesia. The condition affects a significant proportion of pediatric patients, particularly preschool-aged children, and there are currently no approved treatments or standard of care. CT003 - Ready-to-use local anaesthetic gel An early-stage development concept. Cessatech intends to develop a ready to use local anaesthetic gel, that does not sting when administered for laceration repair in the emergency department, e.g. before suturing. Cessatech has not yet communicated on its timelines for initiating the development of CT003. CT004
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Table of contents Operating income and operating results The operating income and result for Q2 2026 were as expected Net revenue amounted to DKK 0 Operating result was KDKK -3.469 The operating result was as expected as the company is currently conducting development activities. Main cost driver for Q2 2026 was: • US launch of CT001 • EMA inspection of CT001 Balance sheet and solidity The total equity at 30 June 2026 was KDKK 6.393 The solidity as per 30 June 2026 was 77% Cash flow and investments There have been no significant investments during the period, only activities focused on developmentand launch preparations. Cash at the end of June 2026 was KDKK 2.348 The majority of the flow during Q2 2026 is related to manufacturing and regulatory activities which will not continue for rest of 2026. Comments We believe the Company has a fairly good position for the coming periods, supported by the extension of the KDKK 10.000 loan facility agreement until 2027, supporting our US launch and organisation, which gives the Company more flexibility for the coming months. In addition, the development program for CT001 is coming to an end, and therefore the clinical and CMC costs will be minimal for the remaining part of the year for CT001. The position does not include the loan facility of KDDK 10.000 or the tax return due in Q4 2026. Key figures A word from our CEO Quarterly highlights and key figures Cessatech in brief Pipeline Financial development Miscellaneous Income statement Balance sheet Statement of changes in equity flow statement Financial development 7
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The share The shares in Cessatech were listed at Spotlight Stock Market on 16. December 2020. The ticker is CESSA and the ISIN code is DK0061411964. The total number of shares as of 30 June 2026 amounted to 18.576.437. There are no outstanding warrants or commitments related to the share, other than the Incentive Warrant Scheme (see next page). Miscellan- eous The Shareholder and Financial calendar Financial calendar Q1 Report: 28 May 2026 Q2 Report: 28 August 2026 Q3 Report: 26 November 202 6 Q4 and Annual Report: 26 February 202 7 Annual General Meeting The Annual General Meeting 2025 was held on Monday 30 March 2026 at 9.00 AM. The Annual Report and the minutes from the Annual General Meeting are available on Cessatech’s website. The Annual General Meeting for 2026 will take place on 30 March 2027. Shareholders Number of shares Shares % Shareholders >5% Jes Trygved (CEO) 926.899 5,0% All other shareholders 17.649.538 95,0% SUM 18.576.437 Board of Directors Martin Olin (Chairman) 356.686 1,9% Rachel Curtis Gravesen 204.417 1,1% Charlotte Videbæk (C-ApS) 174.663 0,9% Flemming Jensen 0 0,0% 8
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Incentive warrant scheme The Board of Directors is authorised during the period until 1 January 2027 on one or more occasions to issue warrants up to ten (10) percent of the Company’s share capital from time to time, each conferring the right to subscribe one share of nominal DKK 0.20 against contribution and to effect the corresponding increase(s) of the share capital. The background for the implementation of the warrant program is to create possibilities for Cessatech to retain and incentivise the Board of Directors, CEO and key employees by offering a long-term ownership engagement, which will contribute to an alignment of interests between the warrant holders and the shareholders and promote long-term commitment to the Company’s development. In December 2020, the Board of Directors and the CEO received warrants as part of Cessatech’s Incentive Warrant Scheme. Subsequently to 31 December 2022 a new Incentive Warrant Scheme (II) was established in January 2023 also including key employees. In July 2024, a third Scheme (III) was issued with the same objective. See the press release of 24 July 2024 for more details on the latest Incentive Warrant Scheme (III). Accounting policy This unaudited results announcement for Q2 2026 contains condensed financial information for the three months ended 30 June 2026 and should be read in conjunction with the Annual Report 2025, which was prepared in accordance with International Financial Reporting Standards as adopted by the European Union and further requirements in the Danish Financial Statements Act. For further information on accounting policies, please see the Annual Report 2025. This first quarter report has been prepared using unchanged accounting policies for recognition and measurement. Operational risks and uncertainties The risks and uncertainties that Cessatech’s operations are exposed to relate to factors such as development, competition, permissions, capital requirements, customers, suppliers/ manufacturers, currencies and interest rates. During the current period, no significant changes in risk factors or uncertainties have occurred. For a more detailed description of risks and uncertainties, refer to the prospectus published in December 2020 or the Memorandum in October 2022 at www.cessatech.com Auditors review This report has not been reviewed or audited by Cessatech’s auditor PricewaterhouseCoopers. Miscellan- eous Submission of the Q2 report The Board of Directors hereby certifies that this Q2 2026 report provides a true and fair view of the Company’s business. Copenhagen 28 August 2026 The Board of Directors 9
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Income statementTable of contents Comments to the income statement • The operating costs are nearly the same compared to the same quarter for the previous year, which reflects a minor change in development costs related to ongoing activities. • The income contribution from the previous quarter, last year, was derived from the milestone payments from the agreement with Proveca. Key figures A word from our CEO Quarterly highlights and key figures Cessatech in brief Pipeline Financial development Miscellaneous Income statement Balance sheet Statement of changes in equity flow statement 10 Q2 2026 Q2 2025 1H 2026 2025 01/Apr/26 01/Apr/25 01/Jan/26 01/Jan/25 Amounts in DKK ´000´ 30/Jun/26 30/Jun/25 30/Jun/26 31/Dec/25 Revenue 0 1,243 0 5,718 Other external expenses -1,930 -3,396 -4,383 -15,801 Staff expenses -1,539 -1,400 -2,848 -4,884 Operating loss before net financials -3,469 -3,554 -7,231 -14,967 Financial expenses, net 8 -9 -12 -2 Loss before tax -3,461 -3,563 -7,243 -14,969 Tax on loss for the period 688 778 1,243 4,065 Net loss for the period -2,773 -2,785 -6,001 -10,904 Other comprehensive income for the period 0 0 0 0 Total comprehensive income -2,773 -2,785 -6,001 -10,904 Basis and diluted earnings per share -0.15 -0.16 -0.30 -0.60
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Balance sheet Balance sheet 11 Q2 2026 Q2 2025 2025 01/Apr/26 01/Apr/25 01/Jan/25 Amounts in DKK ´000´ 30/Jun/26 30/Jun/25 31/Dec/25 Assets Fixed Assets - Patents 203 203 203 Intangible Assets 203 203 203 Total non-current assets 203 203 203 Current assets - Receivables corporate tax 5,315 5,147 4,072 - Other receivables 362 928 350 - Prepayments 100 0 173 - at bank 2,348 15,051 8,591 Total current assets 8,126 21,126 13,186 Total assets 8,328 21,328 13,389 Q2 2026 Q2 2025 2025 01/Apr/26 01/Apr/25 01/Jan/25 30/Jun/26 30/Jun/25 31/Dec/25 Equity and liabilities Equity Share capital 3,715 3,715 3,715 Retained earnings 2,678 12,230 8,441 Total equity 6,393 15,945 12,156 Liabilities - Trade payables 1,555 2,500 854 - Deferred revenue 0 2,486 0 - Other payables 380 398 379 Current liabilities 1,935 5,384 1,233 Total liabilities 1,935 5,384 1,233 Total equity and liabilities 8,328 21,328 13,389
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2025 Share- Share Retained Shareholders Amounts in DKK ´000´ Capital Premium earnings equity At 1 January 2025 3,485 0 4,789 8,274 Share capital increase DI 230 14,415 14,645 Transfer -14,415 14,415 0 Incentive Warrant Scheme 0 0 987 987 Expenses in connection with capital increase -846 -846 Total comprehensive income for the period 0 0 -10,904 -10,904 At 31 December 2025 3,715 0 8,441 12,156 Statement of changes in equity Statement of changes in equity 12 CHANGE IN EQUITY Q2, 2025 Share- Share RetainedShareholders Amounts in DKK ´000´ Capital Premium earnings equity At 1 April 2025 3,485 0 918 4,402 Share capital increase DI 230 14,415 14,645 Transfer -14,415 14,415 0 Incentive Warrant Scheme 0 0 330 330 Expenses in connection with capital increase -648 -648 Total comprehensive income for the period 0 0 -2,785 -2,785 At 30 June 2025 3,715 0 12,230 15,945 CHANGE IN EQUITY Q2, 2026 Share- Share RetainedShareholders Amounts in DKK ´000´ Capital Premium earnings equity At 1 April 2026 3.715 0 5.347 9.062 Share capital increase DI 0 0 0 0 Transfer 0 0 0 Incentive Warrant Scheme 0 0 104 104 Expenses in connection with capital increase 0 Total comprehensive income for the period 0 0 -2.773 -2.773 At 30 June 2026 3.715 0 2.678 6.393
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Comments to the flow statement • The position does not include the loan facility of KDDK 10.000 or the tax return due in Q4 2026. The Company has not utilized the loan facility. Table of contents Key figures A word from our CEO Quarterly highlights and key figures Cessatech in brief Pipeline Financial development Miscellaneous Income statement Balance sheet Statement of changes in equity flow statement flow statement 13 Q2 2026 Q2 2025 2025 01/Apr/26 01/Apr/25 01/Jan/25 Amounts in DKK ´000´ 30/Jun/26 30/Jun/25 31/Dec/25 Loss before tax -3,461 -3,563 -14,969 Financial expenses, reversed net -8 9 2 Other non- items 104 330 987 Tax credit paid out 0 0 3,041 Change in working capital 389 -2,311 -6,641 flow from operating activities before net financials -2,976 -5,535 -17,579 Financial expenses paid/received 8 -9 -2 flow from operating activities -2,967 -5,545 -17,581 Purchase of intangible assets 0 0 0 flow from investing activities 0 0 0 capital increase, TO1/2 + Rights Issue 0 14,645 14,645 Transaction cost, capital increase 0 -648 -846 flow from financing activities 0 13,998 13,799 Total flow for the period -2,967 8,453 -3,782 , beginning of the period 5,316 6,598 12,373 , end of the period 2,348 15,051 8,591
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