Interim report
Page 1
Interim Report Q2 NextCell Pharma AB (publ) | 556965-8361 www.nextcellpharma.com APRIL – JUNE 2026 NextCell Pharma AB (publ)
Page 2
NextCell Pharma AB (publ) | Interim report Q2 2026 2 Interim Report CEO comment About NextCell Financial reports Information ● I N t ERI m R EP o R t Quarter 2 “NextCell” or the “Company” refers to NextCell Pharma AB, corporate registration number 556965-8361. Amounts are stated in SEK unless otherwise indicated, and figures in brackets refer to the corresponding period in the previous year. Please note that, as of 2025, the Company’s financial year corresponds to the calendar year. *Earnings per share: Net result for the period divided by the average number of shares. The average number of shares for the second quarter of 2026: 126,392,959 (83,007,258) shares. **Equity ratio: Shareholders’ equity as a percentage of total assets. oPERAtING INComE, mSEK 3.0 (1.5) EARNINGS PER SHARE*, SEK -0.09 (-0.13) NEt INComE, mSEK 3.0 (1.5) totAL CASHFLoW, mSEK -11.2 (24.8) CASH AND CASH EQUIVALENtS, mSEK 21.1 (46.9) PRoFIt AFtER FINANCIAL ItEmS, mSEK -11.7 (-11.2) EQUItY RAtIo** 74% (85 %) Second quarter in brief
Page 3
NextCell Pharma AB (publ) | Interim report Q2 2026 3 Interim Report CEO comment About NextCell Financial reports Information ● I N t ERI m R EP o R t Quarter 2 Significant events and news during the second quarter ● NextCell announced that in collaboration with FUJIFILM Biosciences, NextCell-Cord RUO cells have been commer- cially launched. NextCell-Cord RUO is available across all major global markets through FUJIFILM Biosciences or direct from NextCell. ● On 27 May 2026, the company held its Annual General Meeting. The resolutions adopted at the AGM are available in full on the company’s website. At the Annual General Meeting, CEO Mathias Svahn presented NextCell’s strategic direction and updated branding. The Company has now transitioned from the former ProTrans name to NXTCL as the common naming structure for its drug candidates, more clearly reflecting the platform-based technology and enabling a more cohesive product family across multiple indications. Significant events after the reporting period ● NextCell has been selected as the only Swedish company to participate in the EU-Japan Biotech Business Mission 2026. At the same time, the Company is strengthening its local presence in Hong Kong by establishing an office and becoming a member of the Hong Kong-Shenzhen Innovation and Technology Park (HSITP). NextCell will also participate as a Founding Partner in the Nordic Future Health Pavilion at BIOHK 2026.
Page 4
NextCell Pharma AB (publ) | Interim report Q2 2026 4 Interim Report CEO comment About NextCell Financial reports Information ● CEo CommENt Commercial progress – key clinical milestones approaching During the second quarter, we launched our first commercial product together with FUJIFILM Biosciences, while continuing the development of the NXTCL-platform. We have also strengthened our presence in Asia through activities in Japan and Hong Kong. In parallel, we are approaching the data readout from ProTrans-Young. We took an important commercial step with the launch of NextCell-Cord RUO together with FUJIFILM Biosciences. It is NextCell’s first commercial product and a clear example of how the technology and manufacturing expertise developed through our clinical programmes can create value beyond our own drug development pipeline. The launch aligns well with our clearly defined platform strategy. During the year, we have brought our drug candidates together under NXTCL as a common naming structure. The platform is based on the selection and expansion of mesen- chymal stromal cells, with a focus on functional consistency, scalable manufacturing and reproducible immunomodulation. It has already been clinically validated in type 1 diabetes and creates opportunities for further development across a broad- er range of immune-mediated diseases. Over the past year, we have gradually implemented the activities set out in our Asia strategy. In Hong Kong, we have established NextCell Hong Kong Limited, and from 1 September, we will further strengthen our local presence through an office and membership in the Hong Kong-Shenzhen Innovation and Technology Park (HSITP). This will provide us with access to additional networks and support within the life sciences ecosystems of Hong Kong and the Greater Bay Area. In September, we will also participate as a Founding Partner in the Nordic Future Health Pavilion at BIOHK. In Japan, our work through the Japan Entry Acceleration Program (JEAP), together with dialogues with the PMDA, regulatory advisors and industry stakeholders, has provided us with valuable regulatory and industry contacts and clarified potential pathways for the continued development of NXTCL- T1D. One important insight is that manufacturing does not need to be located in Japan, providing greater flexibility in structuring a future partnership. “We took an important commercial step with the launch of NextCell- Cord RUO together with FUJIFILM Biosciences.” CoNtINUED oN NEXt PAGE >
Page 5
NextCell Pharma AB (publ) | Interim report Q2 2026 5 Interim Report CEO comment About NextCell Financial reports Information Following JEAP, we were encouraged by the Japan External Trade Organization (JETRO) to apply for the EU-Japan Biotech Business Mission. NextCell has now been selected as the only Swedish company to participate. The programme begins in September with digital activities and partnering, followed by its main activities in Japan in October, including meetings with potential partners in Osaka and participation in BioJapan in Yokohama. Our activities in Hong Kong and Japan form part of the same Asia strategy. Through these initiatives, we are establishing regulatory and industry contacts, strengthening our network and building a stronger foundation for market-specific, region- al or global partnerships for NXTCL. ProTrans-Young is our largest clinical study to date and includes a total of 60 children and young adults aged 7–21 years with newly diagnosed type 1 diabetes. In 2025, we presented preliminary one- year results from patients aged 12–21 years. We are now awaiting the next, significantly more comprehensive data readout. Uppsala Clinical Research Center (UCR) is responsible for handling the study data and is currently conducting the final monitoring and quality assurance activities before the data- base can be locked. Following the database lock, NextCell will gain access to the unblinded data. We then intend to present the topline results without delay, including one-year data for patients aged 7–11 years, one-year data for all 60 patients, and two-year data for the 12–21-year-old cohort. We look forward to the upcoming data readout. NXTCL-T1D has already demonstrated clear and sustained effects in adult patients, with preserved endogenous insulin production over several years of follow-up, and ProTrans-Young now provides an opportunity to broaden the clinical evidence to include children and young adults. At the same time, type 1 diabetes has a heterogeneous disease course following diagnosis, and our previous studies have shown that the difference between treated patients and the control group becomes more pronounced over time. The administrative one-year analysis of the 12–21-year-old group showed a smaller difference than we had expected, while insulin production was relatively well preserved in the study population. This makes the two-year data from the same patients particularly interesting, while we will now also receive one-year data for the entire study population. Our expectation is that the more comprehensive data readout will provide further support for the treatment effect already observed in adults. At the same time, as in our previous studies, we will assess the results based on the overall clinical evidence and how the outcomes develop over time. For the largest pharmaceutical markets, particularly the US and Europe, the next stage of development will require significant resources. Our strategy is therefore to create the strongest possible foundation for continued development in partnership with others. Additional clinical evidence could strengthen the position of NXTCL-T1D and our basis for future discussions with larger pharmaceutical companies and other potential partners. We therefore see value in allowing the pro- gramme to further increase its clinical maturity before making major development commitments. Our subsidiaries are also continuing to develop. Cellaviva has launched a new website and expanded its offering to include stem cell banking from umbilical cord blood, umbilical cord tissue and placental tissue. The company has also entered into agreements with several hospitals for the supply of an ophthalmic product derived from amniotic membrane, with Cellaviva acting as importer and distributor. The first products have recently been delivered to Uppsala University Hospital and Sahlgrenska University Hospital. For QVance, the establishment of the new laboratory and analytical operations is approaching its final phase. The company is already working to onboard customers and is preparing validation activities using customer products, which can be carried out in parallel with the regulatory approval process. The application for a GMP licence will be submitted to the Swedish Medical Products Agency shortly. As we enter autumn, we are approaching several important milestones. The launch together with FUJIFILM Biosciences marks our first commercial step, while development of the NXTCL-platform progresses and our efforts to establish inter- national partnerships continue. In addition, ProTrans-Young will provide further clinical data in a programme that already has long-term follow-up and strong evidence in adult patients. Our focus is on progressively strengthening the clinical and commercial foundation for the next phase of development. Thank you for your continued support, Mathias Svahn, Ph.D. CEO NextCell Pharma AB ● CEo CommENt "Our expectation is that the more comprehensive data readout will provide further support for the treatment effect already observed in adults."
Page 6
NextCell Pharma AB (publ) | Interim report Q2 2026 6 Interim Report CEO comment About NextCell Financial reports Information ● Abo U t N EX tC ELL Vision, mission, strategy NextCell Pharma is a clinical-stage cell therapy company developing and commercialize the proprietary NXTCL™-platform for the treatment of immune-mediated diseases, with a primary candidate in type 1 diabetes. The company was founded in 2014, and is headquartered in Huddinge next to the Karolinska University Hospital. StRAtEGY Provide scalable off-the-shelf cell therapy solutions increasing patient accessibility in the interventive treatments of immune-mediated disease VISIoN Standardising cell therapy for the treatment of inflammatory diseases mISSIoN Advancing the NXTCL stromal cell therapy platform, targeting inflammatory diseases with efficacious immunomodulation LoNG tERm ● Expansion of clinical pipeline ● Generate positive operating cash flow SHoRt tERm ● Commercial execution of the TD1-program ● Cross jurisdictional scale-out of manufacturing capabilities ● Continuous process- and product development of the NXTCL-platform
Page 7
NextCell Pharma AB (publ) | Interim report Q2 2026 7 Interim Report CEO comment About NextCell Financial reports Information ● AboUt NEXtCELL NXTCL™-platform Next-generation MSC therapy designed for consistent potency and robust clinical effects. NXTCL-T1D LEAD INDICAtIoN: tYPE 1 DIAbEtES (PHASE II) NXTCL™ NXTCL-nRD NEoNAtAL RESPIRAtoRY DISoRDER (PRECLINICAL) NXTCL-VRD VIRAL RESPIRAtoRY DISEASES (PHASE I & II*) NXTCL-CNS tHERAPEUtIC AREA (R&D): CENtRAL NERVoUS SYStEm Platform ● Proprietary donor selection enabling consistent potency ● Cryopreserved, ready-to-use therapy ● Scalable manufacturing with low variability Clinical validation ● Demonstrated in randomized trial (Phase II) ● 100+ patients treated across 5 clinical trials ● Durable disease-modifying effect Lead indication - Type 1 Diabetes ● Proof-of-concept in randomized trials ● Sustained preservation of endogenous insulin secretion
Page 8
NextCell Pharma AB (publ) | Interim report Q2 2026 8 Interim Report CEO comment About NextCell Financial reports Information ● AboUt NEXtCELL Investments and strategic collaborations NextCell has initiated and developed several companies based on capabilities and technologies originating from its cell therapy activities. These companies operate independently from NextCell’s therapeutic development programs but remain strategically connected to the broader ecosystem around advanced cell therapies. FUJIFILM Biosciences Inc NextCell and FUJIFILM Biosciences Inc has entered into a strategic collaboration to bring together their core compe- tences in mesenchymal stromal cells (MSCs) and raw materials for the life science sector. The aim of the collaboration is to provide researchers and developers in the cell therapy field with an integrated offering – standardized MSC products, optimized culture media, and cryopreservation solutions. Cellaviva is Scandinavia’s largest private stem cell bank and offers services in stem cell preserva- tion and advanced genetic testing. The company operates quality-assured laboratory processes for private individuals, companies, and partners requir- ing biological sample handling, storage, logistics, and genetic analysis services. NextCell owns 100% of the shares in Cellaviva AB. QVance™ is a specialised provider of quality con- trol services for cell and gene therapies as well as biological medicinal products. Whether you are an academic looking to transfer your ideas into GMP, or a company already in early or late-stage commer- cial development of a medicinal product, QVance provides consulting, quality program development, and services for quality control and batch release. NextCell owns 100% of the shares in QVance AB. FamiCordTx is a biotechnology company focused on developing cell and gene therapies for patients worldwide. One of its projects aims to create the world’s first CAR-T cancer therapy ready for im- mediate administration, based on an allogeneic population bank. NextCell owns 8.5% of the shares in FamiCordTx.
Page 9
NextCell Pharma AB (publ) | Interim report Q2 2026 9 Interim Report CEO comment About NextCell Financial reports Information ● AboUt NEXtCELL Hans-Peter Ekre Chairman of the board Mathias Svahn CEO Angela Vollstedt Per-Ola Carlsson Eric Strati Board of directors Management Advisory board Edvard Smith Board member Lindsay Davies CSO/CEO QVance Camilla Myhre Sandberg Board member Eric Gustafsson CFO Eva Sjökvist Saers Board member Edvard Smith CMO Sofie Falk Jansson CEO Cellaviva
Page 10
NextCell Pharma AB (publ) | Interim report Q2 2026 10 Interim Report CEO comment About NextCell Financial reports Information ● FINANCIAL REP o R tS Financial summary Numbers in brackets in the report refer to the corresponding period in the previous year. Please note that, as of 2025, the Company’s financial year corresponds to the calendar year. Operating Income Net sales for the second quarter amounted to SEK 3.0 (1.5) million, of which Cellaviva accounted for SEK 3.0 (1.5) million. The change was primarily attributable to timing effects related to when customers enter into agreements and when invoicing for stem cell banking can take place. In addition, an expanded permit has been obtained from the Swedish Health and Social Care Inspectorate (“IVO”), broadening Cellaviva’s service offer- ing. Furthermore, the collaboration with NuVision® regarding logistics and storage services contributed positively to the development. Other income for the second quarter amounted to SEK 0.0 (0.0) million. Net sales for the first six months amounted to SEK 5.7 (4.8) million, of which Cellaviva accounted for SEK 5.6 (4.1) million. Other income amounted to SEK 0.1 (0.1) million. Result for the period Profit after financial items for the second quarter amounted to SEK -11.7 (-11.2) million, while total operating expenses amounted to SEK -14.8 (-12.8) million, representing an increase of SEK 2.0 million. The increase was primarily attributable to the establishment of Qvance’s laboratory and analytical oper- ations which are expected to commence during the second half of 2026. Earnings per share for the second quarter amounted to SEK -0.09 (-0.13). Profit after financial items for the first six months amounted to SEK -22.1 (-18.7) million, while total operating expenses amounted to SEK -28.0 (-24.0) million, representing an increase of SEK 4.1 million. Earnings per share for the first six months amounted to SEK -0.18 (-0.24). Cash Position NextCell’s cash and cash equivalents as of June 30, 2026, amounted to SEK 21.1 (46.9) million. Total cash flow for the second quarter amounted to SEK -11.2 (24.8) million, while cash flow from operating activities amounted to SEK -11.4 (-7.5) million. Total cash flow for the first six months of 2026 amounted to SEK -4.9 (14.2) million, while cash flow from operating activi- ties amounted to SEK -19.4 (-16.5) million. During the first quarter, a directed share issue was carried out to selected new specialist investors and existing sharehold- ers to secure the Company’s financing to achieve upcoming value-driving milestones, as well as strategically broaden the shareholder base for the future. The Company raised SEK 15 million, and advisory costs had a marginal impact on the outcome. Equity ration The Company’s equity ratio as of June 30, 2026, was 74 (85) percent. Contingent Liabilities NextCell is engaged in an ongoing dispute with the supplier of the new production facility. While the outcome may lead to a limited financial obligation, it is expected to have a marginal impact overall. Parent Company* Operating income for the second quarter amounted to SEK 0.1 (0.0) million. Profit after financial items amounted to SEK -7.5 (-8.0) million. Cash and cash equivalents as of June 30, 2026, amounted to SEK 20.2 (42.8) million. Operating income for the first six months amounted to SEK 0.3 (0.4) million, while profit after financial items amounted to SEK -13.8 (-14.9) million. * Cellaviva’s Danish operations, conducted through a branch office and previously included in the parent company’s income statement and balance sheet in the year-end report and annual report, are now reported under Cellaviva following adjustments to the legal structure during the first quarter.
Page 11
NextCell Pharma AB (publ) | Interim report Q2 2026 11 Interim Report CEO comment About NextCell Financial reports Information ● FINANCIAL REPoRtS Shares and Major Shareholders The company’s share is listed on First North Growth Market and is traded under the ticker “NXTCL”. As of June 30, 2026, the number of shares amounted to 126,392,959 (111,392,959) and the share capital was 25,910,557 (22,835,557). The average number of shares during the second quarter amounted to 126,392,959 (83,007,258) and during the first six months 119,597,379 (79,228,053). All shares are of the same class and denominated in Swedish kronor (SEK). As of June 30, 2026, the number of shareholders amounted to approximately 4,800. The ten largest owners held shares corresponding to 40.8 percent of the total. Below is the ten largest shareholders in NextCell as of 30 June, 2026 Name No. of shares Votes and capital (%) Försäkringsaktiebolaget Avanza Pension 14,789,232 11.7 % Bronsstädet AB 7,500,000 5.9 % Nordnet Pensionsförsäkring AB 7,430,154 5.9 % Diamyd Medical Aktiebolag 5,300,176 4.2 % Ålandsbanken Abp (Finland), svensk filial 4,339,176 3.4 % Hugo Stenbecks Stiftelse 3,000,000 2.4 % Pabros AB 2,711,846 2.1 % Aktiebolaget Palatset 2,250,000 1.8 % 1921 | EuVECA GmbH & Co 2,200,000 1.7 % Christer Jansson 2,077,220 1.6 % Total 10 largest 51,597,804 40.8 % Others 74,795,155 59.2 % Total 126,392,959 100.0 %
Page 12
NextCell Pharma AB (publ) | Interim report Q2 2026 12 Interim Report CEO comment About NextCell Financial reports Information ● FINANCIAL REPoRtS Income statement group SEK Q1-Q4 2025 Q2 2025 Q2 2026 Change % Q1-Q2 2025 Q1-Q2 2026 Change % Net income 9,957,654 1,498,879 3,032,465 102 % 4,803,884 5,722,701 19 % Other operating income 223,799 856 2,500 192 % 68,731 94,785 38 % Total operating income 10,181,453 1,499,735 3,034,965 102 % 4,872,615 5,817,486 19 % Raw materials -8,326,749 -2,299,665 -1,902,538 -17 % -4,622,853 -3,722,554 -19 % Other external costs -21,020,926 -5,024,054 -6,516,105 30 % -9,029,188 -12,085,104 34 % Personnel costs -18,388,199 -4,795,211 -5,690,319 19 % -9,122,386 -11,003,943 21 % Depreciation and amortisation -2,494,322 -615,412 -616,936 0 % -1,240,526 -1,242,179 0 % Other operating expenses 89,014 -82,279 -37,357 -55 % 65,839 43,976 -33 % Total operating expenses -50,141,182 -12,816,621 -14,763,255 15 % -23,949,114 -28,009,804 17 % Operating profit/loss -39,959,729 -11,316,886 -11,728,290 4 % -19,076,499 -22,192,318 16 % Interest income and similar income 611,052 166,813 50,964 -69 % 331,773 130,437 -61 % Interest expenses and similar costs -2,599 -46 -188 – -46 -1,381 – Total financial items 608,453 166,767 50,776 -70 % 331,727 129,056 -61 % Profit after financial items -39,351,276 -11,150,119 -11,677,514 5 % -18,744,772 -22,063,262 18 % Tax expense for the period – – – – – – – Total result for the period -39,351,276 -11,150,119 -11,677,514 5 % -18,744,772 -22,063,262 18 %
Page 13
NextCell Pharma AB (publ) | Interim report Q2 2026 13 Interim Report CEO comment About NextCell Financial reports Information ● FINANCIAL REPoRtS Balance sheet group SEK 31 Dec 2025 30 Jun 2025 30 Jun 2026 ASSETS Property, plant and equipment 14,267,511 14,345,695 13,515,442 Financial assets 8,253,476 8,008,454 8,271,888 Inventories 327,585 545,237 327,585 Trade receivables 3,061,688 1,957,856 4,670,522 Other short-term receivables 11,972,961 12,696,480 16,026,640 Cash and cash equivalents 26,033,645 46,915,639 21,088,500 Total assets 63,916,867 84,469,361 63,900,577 EQUITY AND LIABILITIES Share capital 22,835,557 22,835,557 25,910,557 Other contributed capital 248,406,613 248,690,489 263,868,088 Retained earnings, including net income for the year -220,643,666 -200,037,162 -242,706,928 Total equity 50,598,504 71,488,884 47,071,717 Non-current non-interest-bearing liabilities 5,290,894 4,620,908 5,486,118 Trade payables 3,343,621 4,851,441 5,430,439 Other current liabilities 4,683,848 3,508,128 5,912,302 Total equity and liabilities 63,916,867 84,469,361 63,900,577
Page 14
NextCell Pharma AB (publ) | Interim report Q2 2026 14 Interim Report CEO comment About NextCell Financial reports Information ● FINANCIAL REP o R t S Changes in equity group 12 months Share capital Other contributed capital Other equity inc. result for the period Total equity Opening balance 1 january 2025 14,983,772 222,325,213 -181,292,390 56,016,595 Changes in equity 0 0 New share issue 7,851,785 28,707,697 36,559,482 Share issue costs -2,626,297 -2,626,297 Result for the period -39,351,276 -39,351,276 Closing balance 31 december 2025 22,835,557 248,406,613 -220,643,666 50,598,504 6 months Opening balance 1 january 2025 14,983,772 222,325,213 -181,292,390 56,016,595 Issuance of warrants 0 0 New share issue 7,851,785 28,707,697 36,559,482 Share issue costs -2,342,421 -2,342,421 Issuance of warrants – Result for the period -18,744,772 -18,744,772 Closing balance 30 june 2025 22,835,557 248,690,489 -200,037,162 71,488,884 6 months Opening balance 1 january 2026 22,835,557 248,406,613 -220,643,666 50,598,504 Issuance of warrants 0 0 New share issue 3,075,000 11,925,000 15,000,000 Share issue costs -238,525 -238,525 Issuance of warrants 3,775,000 3,775,000 Result for the period -22,063,262 -22,063,262 Closing balance 30 june 2026 25,910,557 263,868,088 -242,706,928 47,071,717
Page 15
NextCell Pharma AB (publ) | Interim report Q2 2026 15 Interim Report CEO comment About NextCell Financial reports Information ● FINANCIAL REP o R t S Cash flow statement group SEK Q1-Q4 2025 Q2 2025 Q2 2026 Q1-Q2 2025 Q1-Q2 2026 Operating Activities Profit/loss before financial items -39,959,729 -11,316,886 -11,728,290 -19,076,499 -22,192,318 Adjustments for non-cash items 3,102,775 782,179 667,712 1,572,253 1,371,235 Cash Flow from operating activities before changes in working capital -36,856,954 -10,534,707 -11,060,578 -17,504,246 -20,821,083 Changes in working capital Increase/Decrease in operating receivables -2,132,319 -918,574 -1,973,413 -1,752,003 -1,887,510 Increase/Decrease in operating liabilities 1,326,806 580,442 1,199,493 151,083 1,228,453 Increase/Decrease in Inventories 217,652 – - - - Increase/Decrease in trade payables 1,123,610 3,420,677 424,369 2,631,431 2,086,818 Total changes in working capital 535,750 3,082,545 -349,551 1,030,511 1,427,761 Cash Flow from operating activities -36,321,204 -7,452,162 -11,410,129 -16,473,735 -19,393,322 Investing activities Investments in property, plant, and equipment -4,848,699 -2,132,546 -175,096 -3,673,086 -490,110 Investments in financial assets -295,023 - -18,412 -50,000 -18,412 Cash Flow from investing activities -5,143,722 -2,132,546 -193,508 -3,723,086 -508,522 Financing activities Changes in long-term liabilities 869,019 163,327 374,639 199,033 195,224 New Share Issue 33,933,185 34,217,061 -12,163 34,217,061 14,761,474 Cash Flow from financing activities 34,802,204 34,380,388 362,476 34,416,094 14,956,698 Cash Flow for the period Cash and cash equivalents at the beginning of the period 32,696,366 22,119,958 32,329,661 32,696,366 26,033,645 Changes in cash and cash equivalents -6,662,722 24,795,680 -11,241,161 14,219,273 -4,945,146 Cash and cash equivalents at the end of the period 26,033,645 46,915,639 21,088,500 46,915,639 21,088,500
Page 16
NextCell Pharma AB (publ) | Interim report Q2 2026 16 Interim Report CEO comment About NextCell Financial reports Information ● FINANCIAL REPoRtS Income statement parent company SEK Q1-Q4 2025 Q2 2025 Q2 2026 Change % Q1-Q2 2025 Q1-Q2 2026 Change % Net income 7,513,351 - 60,445 - 231,114 183,930 -20 % Other operating income 216,749 - - - 122,798 83,634 -32 % Total operating income 7,730,100 - 60,445 - 353,912 267,564 -24 % Raw materials -6,388,453 -897,569 -391,262 -56 % -2,212,599 -550,259 -75 % Other external costs -15,325,191 -4,096,323 -3,459,389 -16 % -7,091,452 -6,516,454 -8 % Personnel costs -10,710,085 -2,570,775 -3,203,572 25 % -5,092,985 -5,939,103 17 % Depreciation and amortisation -2,458,028 -612,481 -589,510 -4 % -1,234,664 -1,187,326 -4 % Other operating expenses -33,039 -4,832 -7,782 61 % -14,193 -13,908 -2 % Total operating expenses -34,914,798 -8,181,980 -7,651,516 -6 % -15,645,893 -14,207,050 -9 % Operating profit/loss -27,184,698 -8,181,980 -7,591,071 -7 % -15,291,981 -13,939,486 -9 % Interest income and similar income 663,876 179,661 50,727 -72 % 357,326 129,626 -64 % Interest expenses and similar costs -236 -46 -78 - -46 -1,199 - Total financial items 663,640 179,615 50,649 -72 % 357,280 128,427 -64 % Profit after financial items -26,521,058 -8,002,365 -7,540,422 -6 % -14,934,701 -13,811,059 -8 % Tax expense for the period - - - - - - - Total result for the period -26,521,058 -8,002,365 -7,540,422 -6 % -14,934,701 -13,811,059 -8 %
Page 17
NextCell Pharma AB (publ) | Interim report Q2 2026 17 Interim Report CEO comment About NextCell Financial reports Information ● FINANCIAL REPoRtS Balance sheet parent company SEK 31 Dec 2025 31 Mar 2025 31 Mar 2026 ASSETS Property, plant and equipment 10,209,022 11,439,782 9,021,696 Financial assets 22,123,476 9,228,454 30,050,536 Inventories 327,585 545,237 327,585 Trade receivables 1,569,314 - 405,605 Intercompany receivables 16,558,086 17,654,004 33,639,028 Other short-term receivables 13,061,648 3,985,244 7,494,596 Cash and cash equivalents 25,489,570 42,818,440 20,186,214 Total assets 89,338,701 85,671,161 101,125,260 EQUITY AND LIABILITIES Share capital 22,835,557 22,835,557 25,910,557 Other contributed capital 248,406,613 248,690,488 263,868,088 Retained Earnings, Including Net Income for the Year -207,149,668 -192,703,010 -217,220,147 Total equity 64,092,502 78,823,035 72,558,498 Non-current non-interest-bearing liabilities 1,592,782 - - Trade payables 2,647,155 3,902,959 4,075,894 Intercompany liabilities 18,020,333 1,150,000 21,725,000 Other current liabilities 2,985,929 1,795,167 2,765,868 Total equity and liabilities 89,338,701 85,671,161 101,125,260
Page 18
NextCell Pharma AB (publ) | Interim report Q2 2026 18 Interim Report CEO comment About NextCell Financial reports Information ● FINANCIAL REPoRtS Supplementary disclosures General information and accounting principles The interim report has been prepared in accordance with the Swedish Annual Accounts Act and BFNAR 2012:1 Annual Accounts and Consolidated Accounts (“K3”), as well as BFNAR 2007:1 (“Voluntary Interim Reporting”). For further information regarding accounting principles, please refer to NextCell’s Annual Report for 2024/2025. Risks NextCells operations are associated with risks related to inter alia drug development, commercialization, financing, intellectual property, collaborations with partners, authority decisions, agreements and key personnel. For a description of the Company’s risks, please see the Annual Report for the fiscal year 2024/2025. No significant changes in the Company’s risk assessment have occurred since the Annual Report was issued. Net sales by business segment Group Parent company (SEK) Q1-Q2 2026 Q1-Q2 2025 Q1-Q2 2026 Q1-Q2 2025 Stem Cell banking 5,502,499 4,688,013 0 0 Other 220,202 115,871 183,930 231,114 Total 5,722,701 4,803,884 183,930 231,114 Net sales by geographic market Group Parent company (SEK) Q1-Q2 2026 Q1-Q2 2025 Q1-Q2 2026 Q1-Q2 2025 Sweden 3,130,531 1,475,052 17,877 51,114 Denmark 2,371,967 3,212,961 0 30,000 Other 220,202 115,871 166,053 150,000 Total 5,722,701 4,803,884 183,930 231,114
Page 19
NextCell Pharma AB (publ) | Interim report Q2 2026 19 Interim Report CEO comment About NextCell Financial reports Information ● INFoRmAtIoN Statement The Board of Directors and the CEO certify that the interim report gives a fair overview of the business, position and profit or loss of the Company and describes the principal risks and uncertainties that face the Company. Edvard Smith Board member Camilla Myhre Sandberg Board member Huddinge, August 27, 2026 NextCell Pharma AB (publ) Hans-Peter Ekre Chairman of the board Eva Sjökvist Saers Board member Mathias Svahn CEO The Company’s auditor have not reviewed the report for the second quarter of 2026. Certified advisor For companies listed on Nasdaq Firth North Growth Market, a Certified Adviser is required. NextCell has appointed Redeye Nordic Growth AB as Certified Adviser. Calendar Interim Report Q2 2026 .................................. 2026-08-27 Interim R eport Q3 2026 .................................. 2026-11-26 Int erim Report Q4 2026 .................................. 2027-02-24 Interim Report Q1 2027 .................................. 2027-05-27 Interim Report Q2 2027 .................................. 2027-08-26 Int erim Report Q3 2027 .................................. 2027-11-25 Contacts Financial reports are available on the Companys’s website: www.nextcellpharma.com For further information, please contact Mathias Svahn or Eric Gustafsson: info@nextcellpharma.com
Page 20
WWW.NEXtCELLPHARmA.Com HÄLSoVÄGEN 7, 141 57 HUDDINGE, SWEDEN