Annual report
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20 25Annual report
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Table of contents About Prostatype Genomics 3 C omments by Prostatype Genomics’ CEO Fredrik Rickman 4 About the C ompany and the Prostatype® genetic test 6 S trong scientific support for Prostatype® 7 P rogress in 2025 8 P rogress so far in 2026 9 Expect ed milestones in 2026 – 2027 9 Int erview with Håkan Englund, investor and board member at Prostatype Genomics 10 Key figures 12 Dir ectors’ report 13 P roposed appropriation of retained earnings 18 Inc ome statement 19 Balanc e sheet 2 0 Cash flow analysis 22 E quity 23 Disclosure notes 2 5 Management 37 The Boar d of Directors 38 Signatur es 3 9 Auditor’s report 40
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Prostatype® is a genetic test that is available to patients and treating urologists as a supplementary decision support tool to answer the question of radical treatment or no radical treatment of prostate cancer. The test was developed by a research group at Karolinska Institutet and is provided by Prostatype Genomics AB. About Prostatype Genomics Prostatype Genomics Annual Report 2025 / 3 / 3
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Comments by Prostatype Genomics’ CEO Fredrik Rickman In 2025, Prostatype Genomics has continued to develop its business in line with its long-term strategy – to establish Prostatype® as a clinically validated and commercially scalable decision support in prostate cancer, with a particular focus on the U.S. market. In an environment that has continued to be character - ized by changes in capital market conditions, our work has been consistently focused on strengthening the fundamental value drivers in the business. The scientific evidence forms the foundation of our activities. During the year, we have further strengthened this through new published studies, including data from the U.S., which further confirms the prognostic relevance of Prostatype®. A strong and growing evidence base is crucial, not only for clinical acceptance, but also for reimbursement decisions and long-term commercial scalability. In the U.S. market, we have taken a significant step forward in 2025 by completing the introduction phase and starting to invoice private insurance companies. This means that the use of Prostatype® is increasingly linked to established reimbursement flows, which is a central component in building a sustainable business model. The work related to the ongoing Medicare process continues and remains strategically crucial for the company’s development. An approval would significantly improve market access and create increased predicta- bility in the reimbursement structure. At the same time, regulatory processes of this nature are complex and difficult to assess in terms of time. In recent years, we have seen several structural transactions in the molecular diagnostics and precision medicine segment, where companies with clinically validated tests and an established presence in the U.S. have been acquired by major industrial players. In these contexts, assessments are typically based on factors such as the quality of the evidence, reimbursement opportunities, the scalability of the technology platform and the company’s position in the decision-making flows of the healthcare systems. Considering this background, the company has gradually strengthened its position in several of these areas in recent years through a strengthened evidence base, establishment in the U.S. market, and the initiation of reimbursement-based clinical use. This underlines the importance of developing the business from a long-term industrial perspective, where value creation is driven by the quality of the underlying structures rather than individual milestones. At the same time, the valuation of listed growth companies is affected by broader capital market conditions, such as access to capital, risk appetite and liquidity, factors that can vary over time and do not always reflect the long-term industrial perspective. Prostatype Genomics Annual Report 2025 / 4
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An important part of our continued development is the work to broaden the area of use for Prostatype®, and we have therefore taken steps towards evaluating the relevance of the test also for patients who have undergone radical treatment, with initial results that we consider to be very promising. Over time, this development can help strengthen both the clinical and commercial potential of the product. Financially, the company has implemented measures during the year that strengthen the financial freedom of action and enable continued focus on commercialization and further development of our technology platform. At the same time, the need for additional capital remains to fully realize the company’s growth ambitions, as commercial leverage requires both time and investments. Looking ahead, our priority is clear: to continue to strengthen the evidence base, drive reimbursement processes forward and gradually increase the clinical use of Prostatype®. With the progress made during the year, and a strengthened position within our key value drivers, we are well positioned for the next phase of the company’s development and to realize the long-term potential in our technology. Finally, I would like to extend a big thank you to our employees, clinical partners and shareholders for your continued commitment and trust. Together, we have laid a solid foundation for the company’s continued development, and I look forward to the coming year with confidence. Stockholm in May 2026 Fredrik Rickman CEO Prostatype Genomics Prostatype Genomics Annual Report 2025 / 5 / 5
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About the Company and the Prostatype® genetic test Prostatype Genomics offers the gene test Prostatype® for prognostication of diagnosed prostate cancer, one of the most common cancer types affecting around one in eight men. Prostatype® is based on a patented technology to measure the expression of embryonic cancer stem cells and makes it possible to reduce the proportion of radical treatment by approx. 30-40%. By introducing Prostatype® into the healthcare chain as a supplementary decision-making basis when choosing treatment, it will be possible to significantly improve the quality of life for millions of men and at the same time reduce healthcare queues and achieve very large cost savings on both the healthcare and the society level. There is extensive scientific support for Prostatype®, and the Company’s testing service has already been launched in selected markets in Europe. However, the major sales revenue is expected to come from the United States where Prostatype® became commercially available in 2024. The Company is in the final phase of receiving approval for reimbursement from the large public healthcare insurance program Medicare of up to 3,700 USD per test. U.S. market currently valued at 4 billion SEK – with more than twice as large market potential Based on, among other things, sales data for 2024 from an American peer company 1, the Company estimates the current U.S. market for Prostatype® to at least 4 billion SEK (375 million USD) per year, and the U.S. market potential is estimated to at least 10 billion SEK (970 million USD). The Company aims to achieve a significant market share in the United States, with a maintained gross profit margin and an attractive industry-relevant operating margin. The Company continuously evaluates possible collabora- tions or a sale of the entire Company, taking the interests of the shareholders and the patient group into account. Prostatype® Test System The Prostatype® system identifies the genetic fingerprint for prostate cancer by measuring information from the genes of the cancer stem cells in the tissue sample (biopsy) already obtained in connection with the patient being diagnosed. In other words, Prostatype Genomics uses the patient’s original biopsy, which means that the patient in question does not need to undergo additional tests to be able to diagnose the prostate cancer while increasing the precision of the treatment decision. Prostatype® is intended to be used as a complement to the current clinical diagnostic and prognostic methods routinely used by healthcare systems. Prostatype® is the only prostate cancer gene test that measures gene expression in embryonic cancer stem cells in prostate cancer in a format that allows independent laboratories to perform tests. Prostatype® Genomics Test System is a package consisting of Prostatype® RTqPCR kit, patient database and algorithms, PWS (Prostatype Web System) and associated P-score. The company's picture showing the packaging of Prostatype®. Illustration showing where in the flow Prostatype® becomes relevant in the diagnosis and possible treatment of prostate cancer. PSA STHLM3 Gleason score Tissue sample Suspicion Diagnosis Prognosis Treatment Prostatype Genomics Annual Report 2025 Illustration showing where in the process Prostatype® becomes relevant during diagnosis and potential treatment of prostate cancer. Image showing the Prostatype® packaging. 1) https:/ /investor.veracyte.com/news-releases/news-release-details/veracyte-announces-fourth-quarter-and-full-year-2024-financial / 6
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Strong scientific support for Prostatype® There is extensive scientific support for Prostatype® from completed studies in Sweden, Spain, Taiwan and the U.S. with their respective results published in peer-reviewed scientific journals. Together, these publications cover relevant patient groups with broad ethnicity in Europa, the U.S. and Asia. Furthermore, a unique long-term follow-up study is being conducted at Uppsala University with a follow-up period of up to 30 years. Validation study at Skåne University Hospital A validation study at Skåne University Hospital, with docent Göran Ahlgren as the principal investigator, showed that 36.7 percent of the patients whose prostate cancer was categorized as intermediate risk type can be recategorized to low-risk type. Around 42 percent of the patients whose prostate cancer was categorized as high-risk using the existing methods could be recategorized into low- (10.5 percent) and intermediate-risk type (31.5 percent). None of the patients whose cancer was graded with a P-score in the low or intermediate category died as a result of prostate cancer, which further strengthens the prognostic value and reliability of the P-score. These results were published in the internationally recognized peer-reviewed journal the Prostate in 2023. Multicentre study in Spain In a multicentre study with 93 included prostate cancer patients at 7 hospitals, coordinated by the Spanish National Association of Urology, Prostatype® showed significantly stronger prognostic performance than the comparison metrics NCCN,® D’Amico and EAU for both the risk of prostate cancer-specific mortality within 10 years and the risk of developing metastases. In the study, Prostatype® had a C-index of 0.90 compared to 0.73 for NCCN®. The test’s practical utility was clearly shown as the treatment plan could have been modified for 39% of the patients if it had been used as a basis for choosing treatment plan at the time of diagnosis. The study also showed that: - Prostatype® can predict progression, i.e. predict which patients need curative treatment immediately upon diagnosis and thus not suitable for active monitoring. - Prostatype® confirms the cases in which it may be appropriate to postpone curative treatment for some men with low-risk prostate cancer. Validation study in Taiwan In a validation study in Taiwan, Prostatype® showed significant superiority in predicting prostate cancer-specific mortality compared to the guidelines of the National Comprehensive Cancer Network (NCCN®), as well as against PSA and magnetic resonance imaging (MRI). Prostatype® showed significantly stronger precision compared to NCCN® with a so-called C-index of 0.90 for Prostatype® compared to 0.73 for NCCN®. The study included 148 Taiwanese men, of which 56 had metastases at diagnosis, and the results were published in the journal BJUI Compass in mid-2025. Long-term follow-up study at Uppsala University Hospital A long-term follow-up study is being conducted in collab- oration with Uppsala University Hospital with a follow-up period of up to 30 years, compared to up to around ten years in earlier studies. The study enables the Company to predict the risk of dying due to prostate cancer with even greater certainty in the future, and to extend the time to 15-20 years. Interim results from the study have shown a very good accuracy for Prostatype® even after a full 20 years of follow-up time after diagnosis. None of the patients analysed who were classified as low risk by Prostatype® died of their prostate cancer during up to 20 years of follow-up time. Results from the study are expected to be published in a medical journal in the second half of 2026. This study is based on a previously completed clinical study in 2021-2022, which was completed with positive results. Validation study in the U.S. In a U.S. validation study with 160 included patients led by Professor Stephen Freedland of the Department of Urology at Cedars-Sinai, and in collaboration with the Durham Veterans Affairs Healthcare System, Prostatype® demonstrated impressive performance in line with what the product has shown in European and Asian studies. The study results were published in the scientific journal Prostate Cancer and Prostatic Diseases in early 2026. Veterans Affairs is one of the world’s largest integrated health care systems, covering about six percent of insured residents with health insurance in the U.S. Cedars-Sinai ranks among the top ten most influential hospitals in the U.S. Additionally, the study results show that there is no statistical difference in the performance of Prostatype® between African-Americans and Caucasians, which is of great importance not least for the American market. Additional regional studies More regional studies with Prostatype® have been conducted with consistently positive results, including a pilot study in China with 100 patients. Prostatype Genomics Annual Report 2025 / 7
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Selected progress in 2025 Market approval and commercial progress in the U.S. • D uring the year, the company continued to work on the ongoing Medicare application for Prostatype® cost reimbursement in the U.S. All supplementary questions received have been answered. Obtaining Medicare approval is fundamental for the company’s continued commercial activities in the U.S., as Medicare treats approximately 60 percent of the country’s prostate cancer patients. • D uring the spring, it was announced that clinical use of Prostatype® had started at several of the 10 high- est-ranked U.S. hospitals/urology clinics within prostate cancer. The company thus achieved its goal regarding clinical and scientific weight among the reputable urologists who use Prostatype® in the initial launch phase. • In June , the company engaged Healthcare Capital Mergers, LLC, Chicago as transaction advisor to identify one or more strategic investors and/or commercial partners, primarily in the United States. The collabora- tion is in line with the previously communicated business plan to initially launch Prostatype® in the U.S. under the company’s own management, followed by scaling up with one or more major partners. • In A ugust, an important commercial milestone was reached when the company began invoicing several insurance companies in the U.S. for the use of Prostatype®. This progress meant that the company started generating sales revenue in the U.S., albeit initially on a small scale, in the second half of 2025. • In November, it was announced that the company’s ongoing research and development work has made it possible to identify several new applications and products based on the technology already developed by the company. The first new product, for prognostic decision support after radical treatment of prostate cancer, has already been clinically validated in collab- oration with Uppsala University Hospital, with expected scientific publication in the first half of 2026. Commercial progress in Europe • D uring the first half of the year, deliveries were initiated within the framework of the order worth approximately 1.8 MSEK to the University Hospital Policlinico Tor Vergata in Rome, Italy, which was presented at the end of 2024. This also meant that clinical use in Italy was initiated. Strengthened scientific support for the Prostatype® genetic test • In February, it was announced that the results of a health economic study with Prostatype® had been published in the scientific journal PharmacoEconomics. The results show that Prostatype® can contribute with just over 800 MSEK in annual health economic benefit in Sweden alone compared to the methodology for risk classifica- tion of diagnosed prostate cancer that is used in the Swedish healthcare system today. • In March, positive preliminary results from the U.S. study led by Professor Stephen Freedland of the Department of Urology at Cedars-Sinai, and in collaboration with the Durham Veterans Affairs Healthcare System. The preliminary results, which were confirmed in the beginning of 2026, show that Prostatype® has a strong prognostic potential in identifying patients at high risk of disease progression, and that it is equally effective in predicting mortality from prostate cancer. • In June, strong results from a study in Taiwan with Prostatype® were published in a scientific journal. Prostatype® showed superiority in predicting prostate cancer-specific mortality compared to the guidelines of the National Comprehensive Cancer Network (NCCN®), as well as compared to PSA and magnetic resonance imaging (MRI). • In July, positive results from a Spanish multicentre study with Prostatype® were published in a scientific journal. The study included 93 patients with prostate cancer at seven hospitals, and Prostatype® delivered significantly better prognostic performance than the NCCN®, D’Amico and EAU benchmarks for both the risk of prostate cancer-specific mortality within 10 years and the risk of metastasis. Prostatype Genomics Annual Report 2025 / 8
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Progress so far in 2026 Publication of results from U.S. validation study • In January, the clinical evidence was further strengthened with the publication of the company’s U.S. validation study for Prostatype® in the medical journal Prostate Cancer and Prostatic Diseases. The study, conducted in collaboration with Veteran Affairs and Cedars-Sinai Health System, included a diverse patient population and showed once again that the test demonstrates strong and significant prognostic ability to support clinical decisions in prostate cancer diagnostics. This publication further strengthens the evidence base in the U.S. and contributes to increased clinical credibility in the most important international market. Objectives in 2026-2027 2026 • R esults from a long-term study with Prostatype® in collaboration with Uppsala University Hospital • Medic are approval for reimbursement in the U.S. (current reimbursement approx. 3,700 USD per test) • Focus ed sales activities towards selected states and urology groups (LUGPA groups) • Incr easing reimbursement based sales revenue in the U.S. • Mor e commercial agreements in selected EMEA markets (Europe and Asia) 2027 • Up-s caling of U.S. sales with significant recurring revenue • Ris ing revenues from selected EMEA markets (Europe and Asia) Prostatype Genomics Annual Report 2025 / 9 / 9
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Interview with Håkan Englund, investor and board member at Prostatype Genomics Håkan Englund, life science investor and board member at Prostatype Genomics, brings a lot of knowledge and experience to the Company, both as a long-term investor as well as having spent his professional career in the life science industry. In this interview Håkan shares his view on Prostatype Genomics and why investing in the Company is an exciting opportunity. Håkan – can you introduce yourself and your background both professionally as well as an investor in various life science companies? I am currently acting as CEO and owner of JDS Invest focusing on investing in interesting companies within the life science industry, where Prostatype Genomics is one of several portfolio companies. I have worked more than 30 years in the life science industry, based both in Sweden as well as in North America where I held several leading management positions at both Pharmacia Biotech and Phadia. As I have a background from, and a broad network within, the life science community, I try to bring my experiences into the companies I invest in, both as a long-term investor as well as from a professional point of view. With this experience, why have you chosen to invest and take an active role in Prostatype Genomics as board member? I started to invest in Prostatype Genomics already back in 2014, so I have been involved in the company quite a while now, seeing it grow and mature over the years. I understood early that genetic testing and precision medicine brings a fantastic opportunity to the health care systems, payers but especially to the patients. Cancer has a genetic origin, so to bring the important gene parameter into the mix to be able to more accurately prognose the progression for individual patients is important. This is especially true taking the specific challenges in prostate cancer into consideration. It is a well known challenge that it is difficult to classify a diagnosed prostate cancer patient into the correct risk group which unfortunately leads to a situation where many patients get overtreated. The consequences are that overtreatment brings unnecessary costs to the health care system, but also lifelong side effects for the patients like impotence and incontinence, negatively influencing the patients’ quality of life. Precision medicine is all about being able to provide the right treatment to the right patient at the right time – that is exactly the kind of information Prostatype® brings. The fact that Prostatype Genomics is focusing on prostate cancer, the most common form of cancer among men in North America and Europe, makes the company even more interesting also from a commercial and financial point of view. To be able to support patients as well as the health care systems to take more individualized and precise decisions patient by patient is important. Looking at Prostatype Genomics and achieved milestones the past couple of years, what is your take on that? Prostatype Genomics is a very interesting company, present in a large and growing market. Looking at the development over the past couple of years, we have chosen to focus our efforts and resources towards the US market. We also have a footprint in Europe and making progress also on this side of the Atlantic, but the market infrastructure in USA is completely different compared to Europe. In USA prognostic biomarkers like Prostatype® is already reimbursed at an attractive level as well as being included in clinical guidelines. In Europe none of these fundamental parts of the infrastructure are in place, making it quite challenging for a small company like Prostatype Genomics to commercially break through without heavy investments. We understood this challenge early in the launch process which made it quite an easy decision to focus our resources on where we will get the best return on our investments, which is USA. As Prostatype Genomics already have invested in and built up the American infrastructure, what would you say are the most important targets for the Company at this moment? We are in the final phase with Medicare regarding reim- bursement for Prostatype® in USA – that is and has been our main priority for some time now. We had hopes that the approval would come quicker than it has, as the so-called LCD-code already was existing when we submitted our original submission as well as the established reimburse- ment level. We have a strong team both in Sweden as well Prostatype Genomics Annual Report 2025 / 10
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as in USA that are working together with Medicare in this process and we are making constant progress. For many of us it is easy to feel frustration from time to time as the Company has been in this process quite a while now, but regulatory processes are always very difficult to put a time limit on. I have experienced similar situations in other companies and in other countries over the years as well. There are so many parameters playing a part in the process, and the majority of those are not controlled by the company. What the company needs to do, and does, is to constantly provide Medicare with clear and relevant answers to the requested information from time to time. We are step by step getting closer to the approval we all want to see. Another exciting opportunity for the future is that Prostatype Genomics has worked on expanding the intended use for Prostatype®. The product as we know it today helps the patient and physicians to take a more accurate decision to answer the question if surgery (radical treatment) really is needed or not. Prognostic biomarkers like Prostatype® are actually also used after a patient has undergone surgery, in order to answer the question if additional treatment, for example radiation or hormone treatment, is needed or not. This part of the total market represents approximately 30% of the total market, so it is natural that we want to expand the usage of Prostatype® also into this market segment. We have already completed the first study which will be published later this year, and the preliminary results looks very positive. The addition of the expanded intended use opens up quite a few interesting commercial opportunities including future potential collaborations with larger phar - maceutical companies, mainly those that are present in the hormone treatment segment. It is interesting to reflect on the investments Prostatype Genomics has done over the past couple of years, both in Europe as well as in USA. As our main focus is USA, we decided early in the process to build the needed infra- structure as quickly as possible, to be fully prepared to launch Prostatype® more broadly as soon as we receive reimbursement from Medicare. We have already invested in all the permits and regulatory licenses that are needed for commercialization in the USA. We also have a very good laboratory partner in place, ResearchDX in California. The fact that Prostatype® already is in clinical use in USA is also an important step that will shorten the time it will take for us to grow sales once we receive the Medicare reimbursement approval. Once Prostatype Genomcis receives the reimbursement approval, what will be the focus points then? When it comes to Prostatype®, our main point is to show commercial scalability as quickly and efficiently as possible. In other words that we see a rapid and stable increase in sales volumes. We have chosen to launch Prostatype® on our own and not engage with a commercial partner initially. We have been through a number of scenarios before reaching this decision, but we are also aware that we sooner or later will engage in a partnership with an American company, in order of fully unlock the commercial potential of Prostatype®. The profile of a future partner does however need to fit the specific sales and marketing needs unique to prognostic biomarkers. In our case this means that we most probably will not enter into a partnership with a laboratory chain, but rather with an organization that has existing relationships with urologists as the clinicians are the real customers for products like Prostatype®. Having been deeply involved in product launches in USA in the past, I can also add that any success will come from close monitoring of KPI:s (Key Performance Indicators) in order to understand how the market reacts and what potential adjustments that are needed in order to optimize the commercial activities. Where do you see the company in 2-3 years from now? Having worked with numerous mergers and acquisitions throughout my career, I have learned that companies that successfully combine strong clinical evidence, clear commercial relevance and an established presence in the U.S. market often develop strongly as they reach key milestones. At the same time, the field of molecular oncology diagnostics continues to be characterized by industry consolidation, particularly in the U.S., where many of the sector’s leading players are based and where a significant share of industry transactions have taken place in recent years. Looking ahead two to three years, I envision Prostatype Genomics having further strengthened its position in the U.S. market, expanded the use of its technology and taken important steps towards realizing the Company’s long-term potential. Thank you, Håkan – it has been interesting to talk to you. Finally, as one of the larger shareholders of Prostatype Genomics, how do you view the Company as an investment opportunity? As I mentioned earlier, I have been investing in Prostatype Genomics for more than 10 years now. We have made all the costly investments from a product development point of view where Prostatype® already is commercially and regulatory approved and launched both in Europe as well as in USA. Saying this, we are planning to expand our product portfolio to other areas linked to prostate cancer, where the level of investments will be significantly lower as we are able to extract significant synergies based on the investments already done with Prostatype®. This is true from a commercial, regulatory as well as from an R&D point of view. A Medicare approval would represent a very important step in the company’s commercial plan and, combined with the strengthened evidence base and the company’s strategic positioning, I believe that Prostatype Genomics has good prospects for continued development in the coming years. Prostatype Genomics Annual Report 2025 / 11
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Key figures Group TSEK 2025 2024 2023 2022 2021 Net sales 594 199 1,356 683 10 EBITDA -36,751 -38,874 -37,372 -26,785 -15,460 Total Assets 50,862 41,970 49,222 30,950 40,203 Total Equity 26,529 33,469 24,674 26,151 35,906 Net cash flow -330 6,686 -8,793 -8,840 4,467 Equity/Assets-ratio 52% 80% 50% 84% 89% Average number of employees 7 6 7 6 5 Equity per share, SEK * 0.45 4.99 206.54 1,143.99 2,379.64 Earnings per share, SEK * ** - Before and after dilution -1.32 -14.93 -512.68 -1,597.90 -1,120.57 Number of shares at the end of the period 59,189,321 6,704,770 119,460,007 22,859,497 15,088,761 Number of shares at the end of the period after full dilution 59,189,321 6,704,770 119,460,007 30,775,263 19,133,952 Weighted average number of shares for the period 33,783,778 1,410,722,766 80,819,803 18,202,992 13,947,626 * Values for historic earnings and equity per share have been recalculated to reflect the reversed share split 1000:1 decided upon at the extraordinary general meeting on 22 October 2024. ** The definition of earnings per share has been updated to be calculated on the average number of shares for the period instead of on the number of shares at the end of the period. All comparative figures have therefore been adjusted. Definitions of key ratios Profit margin Year’s profit/loss / net sales Equity ratio Adjusted equity / total assets Earnings per share Net profit/loss for the year / average number of shares for the period Diluted earnings per share Net profit/loss for the year / average number of shares + warrants for the period / 12 Prostatype Genomics Annual Report 2025
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Directors’ report The Board of Directors and the CEO of Prostatype Genomics AB, 556726-0285, with its registered office in Stockholm, hereby submit the annual report for the financial year 2025-01-01 – 2025-12-31. General information about the business Prostatype Genomics’ business concept is to develop and commercialize prognostic methods against cancer. The first project concerns Prostatype®, a product for the classifica- tion of prostate cancer, which is the most common cancer among men in many countries, in particular in Western Europe and North America. About 10,000 men in Sweden and 500,000 in Europe are diagnosed with prostate cancer annually. In the US 300,000 per year. Most people, about 65 percent, have a slowly growing cancer and the risk is small that the disease will become really serious in ten to fifteen years’ time. Methods used today for diagnosis and prognosis are serum PSA, assessment of tissue samples from the prostate according to the Gleason Score and other clinical assessments. These methods are not sufficient to be able to assess the future development of the tumour in the early stages of the disease in the individual patient. Since the prognosis methods used today are uncertain, men with slowly growing cancer risk being unnecessarily treated with radical methods such as prostatectomy and/or radiotherapy, which often leads to side effects such as urine leakage, impotence and gastrointestinal problems, which in turn leads to reduced quality of life for the individual patient. A method that can determine a tumor’s development in direct relation to treatment choices provides the opportunities to individualize treatment according to the patient’s needs. A classification of patients’ prognosis also lowers healthcare costs by limiting resource-intensive treatments to patients whose tumour disease has a more negative prognosis. The company has granted patents for Prostatype® in Europe, Japan, Hong Kong, Canada, China and in the U.S. Group relationship The group consists of the parent company Prostatype Genomics AB (reg. no. 556726-0285) and the wholly owned subsidiary Prostatype Genomics Inc., (reg. no. 6005878), Delaware, USA. Significant events during the financial year Commercial progress in the U.S. Ongoing Medicare reimbursement application for Prostatype® in the U.S. In the beginning of 2025, Prostatype Genomics announced that supplementary questions had been received from Medicare following the review of the application, and the company submitted answers in early February. Thereafter, the dialogue with Medicare continued during the year within the framework of the processing of the company’s application (within the framework of the MolDX program). Obtaining Medicare approval is a key prerequisite for the company’s continued commercial efforts in the U.S., as Medicare treats around 60 percent of all patients with prostate cancer, and the agency is also influential for other insurers and paying parties in the country. Leading American urologists have started using Prostatype® clinically On May 15, 2025, it was announced that the number of selected American urologists at well-respected urology clinics/hospitals who use Prostatype® clinically is gradually increasing and now exceeds 10 in total. The company has thus achieved its goal in terms of clinical and scientific weight among the reputable urologists who use Prostatype® in the initial launch phase. A major focus is now on ensuring an efficient and scalable integration of the test into the work routines of all of these clinics/hospitals. In a newsletter published in June 2025, it was clarified that Prostatype® has now begun to be used clinically at several of the U.S.’s 10 highest-ranked hospital/urology clinics in prostate cancer according to publicly available ranking lists. American billing partner engaged to handle reimbursement On May 15, 2025, it was also announced that a billing partner with many years of experience has been engaged to handle cost reimbursement from both Medicare and other federal and private health insurers in the United States. The company is thus actively working to start receiving reimbursement also outside of Medicare. Initiated invoicing for Prostatype® to insurance companies in the U.S. On August 26, 2025, it was announced that Prostatype Genomics had reached an important commercial milestone in the U.S. by starting to invoice several insurance companies for Prostatype®. As the U.S. patient insurance market consists of hundreds of insurers of various sizes, Prostatype Genomics’ revenues in the U.S. will not come from just one individual insurer. This progress meant that the company started generating sales revenue in the U.S., albeit initially on a small scale, in the second half of 2025. Preparations ahead of strategic partnerships/ investments in the U.S. The company’s share available for trading in the U.S. via OTCQB Venture Markets On March 13, it was announced that the company’s share has been made available for trading in the United States via the OTCQB Venture Market in parallel with the current listing on Nasdaq First North in Stockholm. The stock is thus available to U.S. brokers and investors during U.S. trading hours, with the U.S. ticker OTCQB: PGABF and pricing in in USD. For avoidance of doubt, the share is not listed in the U.S., it can be traded in the U.S through the QTCQB service. / 13 Prostatype Genomics Annual Report 2025
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Healthcare Capital Mergers engaged as U.S. transaction advisor On June 2, the company announced that Healthcare Capital Mergers, LLC, Chicago has been engaged as transaction advisor to identify one or more strategic investors and/ or commercial partners, primarily in the United States. The collaboration is in line with the previously communicated business plan to initially launch Prostatype® in the U.S. under the company’s own management, followed by scaling up with one or more major partners. Completed R&D investments enable the development of new products in addition to Prostatype® On November 11, it was announced that the company’s ongoing research and development work has made it possible to identify several new applications and products based on the technology already developed by the company. The first new product has already been clinically validated in collaboration with Uppsala University Hospital, with expected scientific publication in the first half of 2026. The company’s current product Prostatype® is used as a prognostic tool for risk assessment of patients’ prostate cancer before decisions are made on radical treatment (surgery, radiation or hormone therapy). The new product also offers prognostic risk assessment after completion of radical treatment. Commercial progress in Europe Initiated delivery and clinical use of Prostatype® in Italy During the first half of the year, deliveries were initiated within the framework of the order worth approximately 1.8 MSEK to the University Hospital Policlinico Tor Vergata in Rome, Italy, which was presented at the end of 2024. This also meant that clinical use in Italy was initiated. Prostatype Genomics is also working to sign agreements with additional similar clinics in other parts of Italy. Strengthened scientific support for the Prostatype® genomic test Prostatype® can contribute with 800 MSEK per year in health economic benefit in Sweden On February 10, it was announced that the results of a health economic study with Prostatype® had been published in the recognized scientific journal PharmacoEconomics. The study and a complementary analysis, both conducted by the Institute for Health Care Economics (IHE), show that Prostatype® can contribute with just over 800 MSEK in annual health economic benefit in Sweden alone compared to the methodology for risk classification of diagnosed prostate cancer that is used in the Swedish healthcare system today. Positive preliminary results from the U.S. study with Prostatype® On March 31, positive preliminary results from the U.S. study led by Professor Stephen Freedland of the Department of Urology at Cedars-Sinai, and in collaboration with the Durham Veterans Affairs Healthcare System. The preliminary results indicate that Prostatype® has a strong prognostic potential in identifying patients at high risk of disease progression, and that it is equally effective in predicting mortality from prostate cancer. Notably, no significant difference was observed in the performance of the test between African-American and Caucasian patients. Strong results for Prostatype® in published Taiwan study On June 3, the company announced that strong results from a study in Taiwan with Prostatype® had been published in the scientific journal BJUI Compass. In the study, Prostatype® showed superiority in predicting prostate cancer-spe- cific mortality compared to the guidelines of the National Comprehensive Cancer Network (NCCN®), as well as compared to PSA and magnetic resonance imaging (MRI). Clinical validation of Prostatype® is ongoing at a leading hospital in Taiwan, and this publication also opens up for expansion to other major Asian markets with suitable partners. Positive results for Prostatype® in published Spanish multicentre study On July 22, it was announced that previously communicated positive results from a Spanish multicentre study with Prostatype® had been published in a peer-reviewed scientific article. The study included 93 patients with prostate cancer at seven hospitals, and Prostatype® delivered significantly better prognostic performance than the NCCN®, D’Amico and EAU benchmarks for both the risk of prostate cancer-spe- cific mortality within 10 years and the risk of metastasis. The practical benefit of the test was clearly demonstrated as the treatment plan could have been modified for as many as 39% of the patients in the study if Prostatype® had been used as a decision basis at the time of confirmed diagnosis. The multicentre study was coordinated by the Spanish National Urology Association, and the results were presented at their annual meeting in April 2024. Financing of the company’s operations Fully subscribed rights issue of approximately 27 .3 MSEK On June 5, it was announced that the rights issue of units carried out during May-June had been fully subscribed, which meant that the company received approximately 27 .3 MSEK before transaction-related costs and repayment of bridge loans. On June 18, it was announced that a directed share issue had been carried out to the guarantors in the rights issue, as all requested compensation in units instead of cash. Following the registration of the rights issue and the directed issue to the guarantors, the total number of shares in the company amounts to 37 ,000,265 and the share capital to 3,700,026.50 SEK. In connection with this, 22,623,789 warrants of series TO 5 were issued. The company receives 11.5 MSEK from redemption of TO5 warrants On September 18, it was announced that the company’s warrants of series TO5 were exercised, including activated top-down guarantee commitments, to approx. 98.1 percent. This meant that the company received approx. 11.5 MSEK before deduction of transaction-related costs. / 14 Prostatype Genomics Annual Report 2025
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Multi-year overview Group Parent company TSEK 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31 Net sales 594 199 1,356 683 10 Earnings before depreciation (EBITDA) -36,751 -38,874 -37,372 -26,785 -15,460 Balance Sheet 50,862 41,970 49,222 30,950 40,203 Equity 26,529 33,469 24,674 26,151 35,906 Cash flow -330 6,686 -8,793 -8,840 4,467 Solidity 52% 80% 50% 84% 89% Earnings per share* -1.32 -14.93 -512.68 -1,597.90 -1,120.57 Earnings and financial position Turnover and results Net sales amounted to 594 TSEK (199), of which 112 TSEK (0) is related to the United States. The company is still in the initial phase of commercialization, and thus the net sales is in line with expectations. Operation profit/loss for the company (EBIT) and operating profit before depreciation and amortization (EBITDA) amounted to -38,938 TSEK (-40,853) and -36,751 TSEK (-38,874), respectively. The company’s costs mainly consist of research, testing, personnel and commercialization. Earnings per share for the period amounted to -1.32 SEK (-14.93), where recalculation was made to reflect the 1000:1 reverse share split that was carried out during the second half of 2024. Investments Investments relate primarily to product development in and towards the United States and a total amount of 13,359 TSEK (8,356) has been balanced. The group’s intangible assets represent values for expenses, development work and patents regarding the company’s product. Development expenses and patents are written of on a straight-line basis over 10 years. Cash flow and cash and cash equivalents Net cash flow during the period amounted to -330 TSEK (-6,686). The Group’s cash and cash equivalents at the end of the period amounted to 9 ,068 TSEK (9 ,420). During the year, the company has received capital via a rights issue and warrants of series TO5 totalling 41.7 MSEK before issue costs. Personnel At the end of 2025, the group had 7 (7) employees, of which 2 (2) were women. The parent company The parent company’s income and operating result for the period amounted to 482 TSEK (199) and -25,319 TSEK (-30,293), respectively. The company invested 13,182 TSEK (3,816) in product development and financed subsidiaries with 9 ,507 TSEK (11,455). Net cash flow amounted to -835 TSEK (7 ,233) and cash and cash equivalents at the end of the period amounted to 8,467 TSEK (9 ,302). Significant events after the end of the financial year Publication of U.S. validation study The clinical evidence was further strengthened with the publication of the company’s U.S. validation study for Prostatype® in the medical journal Prostate Cancer and Prostatic Diseases. The study, conducted in collaboration with Veteran Affairs and Cedars-Sinai Health System, included a diverse patient population and demonstrated once again that the test demonstrates strong and significant prognostic ability to support clinical decisions in prostate cancer diagnostics. This publication further strengthens the evidence base in the United States and contributes to increased clinical credibility in the most important international market. Loan financing In December 2025 and January 2026, the company was provided with additional financial flexibility through the signing of short-term loans totalling 10 MSEK, including loans from both major shareholders and external lenders. The financing aims to secure short-term working capital without an immediate dilution effect for the shareholders. Proposal for resolution on rights issue On May 19 , 2026, the company announced the board’s intention to resolve on a rights issue of units (shares and two series of warrants) of approximately SEK 47 .4 million before issue costs. The rights issue is secured to approximately 70 percent through subscription commitments and guarantee commitments and is intended to finance the continued * Values for historic earnings and equity per share have been recalculated to reflect the reversed share split 1000:1 decided upon at the extraordinary general meeting on 22 October 2024. / 15 Prostatype Genomics Annual Report 2025
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Medicare process and commercialization activities in the US and Europe. Warrants of series TO6 and TO7 , if fully exercised, may provide the company with additional capital of a total of approximately SEK 60 million before issue costs. Liquidity, financing, capital requirements The board of directors makes the assessment that the group is dependent on additional capital injections until a positive operating cash flow is reached. Based on ongoing financing activities, it is the board’s assessment that the group will secure the liquidity required for the needs of the business. The board of directors works proactively to secure growth capital through a combination of debt financing, new issues and strategic collaborations to accelerate commercialization. It is the Board’s overall conclusion that these measures will ensure continued operations, which is why the report is prepared with the going concern assumption. However, the board of directors would like to draw attention to the fact that if the necessary additional financing is not realised, this will constitute a material uncertainty factor for the group’s ability to continue operations over the next 12 months. The share The company’s share is listed on the NASDAQ First North Growth Market under the symbol PROGEN, and it is traded with ISIN code SE0023261532. On 31 December 2025, the share capital amounted to 5,918,932 SEK (670,477) distributed over 59 ,189 ,321 shares (6,704,770). The increase in due to the rights issue of units that included warrants of series TO5, which were issued and subscribed for in 2025. All shares are issued and fully paid. Since March 13, 2025, the company’s share is also available for trading on the OTCQB Venture Market in the U.S., which means that the share there can be traded in parallel with its listing on Nasdaq First North in Stockholm, during U.S. trading hours, with a U.S. ticker (OTCQB: PGABF) and pricing in USD. pricing in USD. For avoidance of doubt, the share is not listed in the U.S., it can be traded in the U.S through the QTCQB service. Largest shareholders The largest individual shareholders in Prostatype Genomics AB at the end of the financial year are Hans Öhman (17 ,7%), Filip Norlin (10,7%), Gerald Andriole (6,2%) and Håkan Englund (4,1%). A list of the largest shareholders can be found on the company’s website (www.prostatypegenomics.com). Transactions with related parties Shareholder loans In December 2025 and January 2026, the company signed short-term loan agreements with board members and major shareholders, of which 2.0 MSEK with board members, Håkan Englund with 1.5 MSEK, Anders Lundberg with 0.2 MSEK, Michael Häggman with 0.2 MSEK and Jörgen Dahlström with 0.1 MSEK. The loans have a fixed period interest rate of 15% and run until June 30, 2026. The loans were signed privately or through controlled companies and the loan terms are deemed to be at market terms. Consultancy fees Board member Mattias Prage is employed at Advokatbyrån Lindahl KB, which the company engages for advice on legal issues and company administration. During the year, Lindahl invoiced the company 645 TSEK (1 036). Board member Jörgen Dahlström is CEO of Mercodia AB, which has purchased consulting services from the company for 145 TSEK (0). Johan Waldhe, who was a board member up until the 2025 annual general meeting, is CEO of the commu- nications and consulting company Honeybadger AB. Services for 616 TSEK (711) were procured during the time of the board assignment. Financial and operational risks Through its operations, the group is exposed to both financial and operational risks. The financial risks mainly consist of liquidity and financing risks, while the operational risks include, among other things, market-related, regulatory and commercial risks linked to the company’s development and commercialization. Financial risks Financing and continued operation The Company is in an establishment phase where expected cash flows from the Company’s operating activities do not cover planned costs and investments in the form of launching in new markets. The company’s assessment is that current financing is not sufficient to continue operations to the extent planned for the next twelve months and there is a risk that the company will not be able to raise additional capital or that such financing cannot be obtained on, for existing shareholders, favorable terms. There is also a risk that such financing will not be obtained to a sufficient extent or that it will be delayed, which may lead to the commercialisation of Prostatype® being slowed down or not being achieved at all. In such a scenario, the Company may be forced to conduct operations at a slower pace than planned, which could lead to delayed or lost revenues and negatively affect the Company’s establishment in the United States, which could have a negative impact on the Company’s operations, financial position and earnings. Prostatype Genomics assesses the probability of risk occurring as medium. The Company further assesses that the risk, if realized, would have a high effect on the Company, its financial position and continued operations. Valuation of assets The company’s product, Prostatype®, is in a commercial- ization phase. In addition to the short-term financial risk / 16 Prostatype Genomics Annual Report 2025
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mentioned above, there is, as for all businesses, a long-term risk that objectives will not be achieved within the time frame on which the group’s forecasts are based. The Group’s balance sheet contains significant intangible assets, mainly attributable to capitalized development costs. The value of these assets is dependent on the company’s ability to successfully commercialize its products and generate future cash flows. If the sales do not reach set goals or if the assumed cash flows are not realized at the rate assumed by the board and company management or are alternatively postponed in time, this may affect the valuation of the Group’s assets. Changes in the assumptions on which the impairment test was based may result in the assets needing to be written down at a faster pace than planned, which may affect earnings and the financial position. Prostatype Genomics assesses the probability of the risk occurring as low. The Company further assesses that the risk, if realized, would have a high effect on the Company. Operational risks Market acceptance The company’s product, Prostatype®, is in a commercialization phase. At the date of this report, Prostatype® has been made available to sell in Sweden, Spain, the UK, Norway, Italy and the U.S. However, there is a risk that the sale does not fully meet the Company’s objectives and that the product will not be commercially successful. The level of market acceptance and sales of Prostatype® depends largely on whether the product succeeds in gaining recognition among urologists, but also on a number of other factors, such as product characteris- tics, clinical documentation and results, competing products, distribution channels, availability, price, compensation, sales and marketing efforts and that the product is mentioned and noticed in various trade journals. If the Company and its product do not receive sufficient visibility in the relevant channels, it may cause delays in the market acceptance or a total or partial failure of such market acceptance to occur. Since Prostatype® has not yet generated any significant revenue, it is difficult to evaluate the sales potential of the product. The product is a support in healthcare choices for the treatment of prostate cancer and aims to avoid unnecessary operations. The company intends to initially conduct sales to private healthcare (private hospitals, insurance companies and out-of-pocket patients). To achieve the market penetration required to achieve the Company’s financial targets, a small number of urologists in the target group need to be convinced. The company considers this as realistic, but there is a risk that the introduction will take longer than expected. In public healthcare, it takes longer to reach acceptance, and the Company will be dependent on the national reimbursement systems. The risk is therefore considered to be low in relation to private healthcare and medium in public healthcare. A certain conflict of interest can be considered to exist between private healthcare providers’ willingness to perform surgeries and the Company’s ambition to avoid unnecessary ones, which risks affecting market acceptance. Medical technology is generally a market area characterized by global competition, rapid technological development, regulatory requirements, and extensive investment requirements. Prostatype Genomics estimates that there is currently no product on the European market that fully corresponds to Prostatype®, but that there are companies in medical technology that may become potential competitors to Prostatype Genomics, e.g., by these companies developing an equivalent product. Should competitors develop products that prove to be better than the Company’s, it could have a material adverse effect on the Company’s business, sales, market acceptance, financial position and results of operations as other Companies may take market shares. The competitive situation in the US market is different as there are a few US companies that manufacture products comparable to Prostatype®. In the US market, the Company may thus be exposed to competition from existing competitors who want to prevent or complicate the marketing of Prostatype® in various ways, e.g., by challenging the Company’s patents. Overall, Prostatype Genomics estimates that the probability of the risk occurring is medium. Dependence on key personnel Prostatype Genomics is a small organization with limited resources. The Company’s success is largely dependent on a qualified workforce and on the extensive expertise and long experience in the Company’s area of operation that the employees possess. In light of the organization’s size and competence profile, each employee is considered an important resource for the business. One of the Company’s main strengths is the internal knowledge of advanced laboratory technology, AI technology and data analysis, which is partly linked to the Company’s personnel. If several key employees were to leave within a short period of time, it would have a significant negative effect on the Company’s ability to conduct the business and achieve the results the Company seeks. It could also delay the Company’s operations and negatively affect its ability to achieve commercial goals. Prostatype Genomics assesses the probability of occurrence of the risk as low. The Company further assesses that the risk, if realized, would have a high effect on the Company. Regulatory risks associated with studies and permits Before medical devices, such as Prostatype, can be launched on the market, their performance and safety must be ensured, which Prostatype® Genomics has done through clinical studies as well as validation studies in several countries. Prostatype Genomics’ strategy is to conduct validation studies in each country where sales are intended to be conducted, which does not follow from regulatory requirements but rather from practice. In order to be able to market and sell medical devices, in some cases a permit must also be obtained, and registration must take place with the relevant authority. Prostatype® is CE-marked and approved according to IVDR and the Company has at the date of the publication of this annual report permission to sell the product in Europe. The company has conducted a / 17 Prostatype Genomics Annual Report 2025
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validation study in China and has an ongoing validation study in Taiwan and the U.S. In the U.S., the Company has no ambition to secure FDA approval, and has instead launched Prostatype® as an LTD approved product and so-called CLIA accreditation, which shortens the time to market launch and reduces financial risk. Competing products in the U.S. are also offered as LDT products. There is a risk that ongoing and planned validation studies will be delayed or not yield expected results, which may affect the Company’s ability to commercialize its products in new markets and thereby affect revenue development. The studies conducted by Prostatype Genomics are associated with uncertainty and risk regarding delays and results. There is a risk that results in the Company’s ongoing and future studies will not be satisfactory and there is a risk that the Company’s future products for safety and/or efficiency reasons will not be demonstrated to be as good as previously estimated. Furthermore, there is a risk that the rules and interpretations that currently apply regarding registration and permits for the Company’s product may change in the future, which in that case could affect the Company’s ability to meet the requirements of various authorities. Thus, changes in rules and interpretations as well as revoked permits and registrations may also cause delays in market launches in certain markets and risk reducing the Company’s growth rate and expected profitability. All in all, it could have a negative impact on the Company’s business, financial position and results. Prostatype Genomics assesses the probability of occurrence of the risk as low. The Company further assesses that the risk, if realized, would have a medium effect on the Company. Intellectual property rights and patent protection Prostatype Genomics depend on the ability to obtain and defend patents, other intellectual property rights and reprocessed know-how. Patent protection for medical device companies can be uncertain and cover complex legal and technical issues. Prostatype Genomics has applied for and been granted patents until 2032 in the US, Canada, China, Hong Kong, Japan and Europe (EPO). In the event that future patent applications are not granted, it could adversely affect Prostatype Genomics’ operations and financial position. Furthermore, patents usually have to be applied for and maintained in several different jurisdictions and generally have a limited lifespan. There is a risk that the existing and/ or future patent portfolio and other intellectual property rights held by the Company will not constitute adequate commercial protection, or that the Company will or is alleged to infringe the intellectual property rights of third parties. If Prostatype Genomics is forced to defend its patent rights against a competitor, this may entail significant costs, which may adversely affect Prostatype Genomics’ business, results and financial position. Furthermore, there is always a risk in the type of business that Prostatype Genomics conducts that the Company may make or is alleged to infringe patents held by third parties. To date, the Company has not been involved in any dispute regarding patents. The uncertainty associated with patent protection means that the outcome of such disputes is difficult to predict, but it could lead to costly litigation and negative publicity. The effect could be delays or obstacles to continued commercialization of the product and thus also difficulties for the Company to generate revenue. Prostatype Genomics is also to some extent dependent on know-how and trade secrets, which are not protected by law in the same way as intellectual property rights. The company uses confidentiality agreements and thereby strives for far-reaching protection of sensitive information. However, it is not possible to fully protect yourself against unauthorized dissemination of information, which entails a risk that competitors will get access to and benefit from the know-how developed by Prostatype Genomics, which could be detrimental to the Company. Overall, Prostatype Genomics assesses the probability of the risk occurring as low. The Company further assesses that the risk, if realized, would have a high effect on the Company. Forward-looking statements Certain statements in this report are forward-looking and actual results may difer materially. In addition to the factors discussed, other factors may have an impact on actual outcomes. Such factors include developments for customers, competitors, efects of economic and market conditions, national and international laws and regulations, tax regulations, fuctuations in exchange rates and interest rates and political risks. Proposed appropriation of retained earnings Retained earnings (SEK) in the parent company at the disposal of the annual general meeting: Share premium reserve 211,816,929 Retained earnings -154,346,577 Profit/loss for the year -34,646,520 22,823,832 The board of directors proposes that the retained earnings are to be appropriated as follows: Carried forward 22,823,832 The group’s and parent company’s profit/loss as well as the company’s financial position in general are disclosed in the following income statements, balance sheets, cash flow statements and additional information. The income statement and balance sheet will be adopted at the AGM on June 10, 2026. / 18 Prostatype Genomics Annual Report 2025
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Group Parent company TSEK Note 2025 2024 2025 2024 Net sales 3 594 199 482 199 Own work capitalized 7 - 1,719 - - Other operating income 3 65 3 65 Total income 597 1,983 485 264 Operating expenses Research and development cost -1,464 -2,211 -1,464 -2,211 Other external costs 5 -20,798 -22,355 -14,323 -17,099 Staff cost 5 -15,225 -15,709 -8,068 -8,675 Depreciation, amortization and impairment 7,8,9,10,11 -2,187 -1,979 -2,089 -1,899 Other operating expenses 139 -583 139 -410 Operating profit/loss -39,535 -42,836 -25,804 -30,293 Operating profit/loss -38,938 -40,853 -25,319 -30,029 Interest income and similar items 90 43 2,454 1,507 Interest expense and similar items 18 -1,615 -1,677 -1,615 -1,677 Other financial items - - -6,126 -12,285 Currency effects 18 -4,041 1,436 -4,041 1,434 Profit/loss after financial items -44,503 -41,051 -34,647 -41,051 Taxes 6 - - - - Net profit/loss for the period -44,503 -41,051 -34,647 -41,051 Income statement / 19 Prostatype Genomics Annual Report 2025
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Group Parent company TSEK Note 2025-12-31 2024-12-31 2025-12-31 2024-12-31 ASSETS Capitalized development expenditure 7 37,159 26,591 33,288 21,963 Patents 8 0 0 0 0 Licenses 9 2,125 2,677 446 560 Total non-current intangible assets 39,285 29,267 33,734 22,522 Technical equipment 10 247 247 247 247 Equipment and tools 11 205 65 205 65 Total non-current tangible assets 452 312 452 312 Investments in subsidiaries 12 - - 0 0 Loans to subsidiaries 13 - - 8,963 9,623 Other financial assets 485 566 485 566 Total non-current financial assets 485 566 9,448 10,189 Total non-current assets 40,221 30,145 43,633 33,024 Finished products 78 95 78 95 Inventory 78 95 78 95 Accounts receivable 117 43 117 43 Other receivables 510 1,068 2,448 3,437 Subscribed But Not Paid-Up Rights Issue - 525 - 525 Prepaid expenses and accrued income 868 674 4,680 2,701 Current receivables 1,495 2,310 7,244 6,706 Cash and bank 9,068 9,420 8,467 9,302 Total current assets 10,641 11,825 15,789 16,102 TOTAL ASSETS 50,862 41,970 59,423 49,126 Balance sheet / 20 Prostatype Genomics Annual Report 2025
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Balance sheet, cont. Group Parent company TSEK Note 2025-12-31 2024-12-31 2025-12-31 2024-12-31 EQUITY AND LIABILITIES Share capital 14 5,919 670 5,919 670 Other restricted capital - - - 13 Development fund - - 11,140 12,996 Total restrictred equity - - 17,059 13,680 Other capital/premium reserves 211,817 183,687 211,817 183,674 Other equity including net profit/loss for the year -191,206 -150,888 - - Profit/loss brought forward - - -154,347 -115,153 Net profit/loss for the period - - -34,647 -41,051 Total non-restricted equity - - 22,824 27,470 Total equity 26,529 33,469 39,883 41,150 Borrowings 15 - - - - Total long-term liabilities - - - - Borrowings, short-term 15 5,300 67 5,300 67 Accounts payable 2,735 2,523 1,151 2,070 Tax liabilities 13 52 13 52 Other current liabilities 16 11,462 2,646 10,890 2,646 Accrued expenses and deferred income 17 4,823 3,213 2,186 3,141 Total current liabilities 24,333 8,501 19,540 7,975 Total liabilities 24,333 8,501 19,540 7,975 TOTAL EQUITY AND LIABILITES 50,862 41,970 59,423 49,126 Pledged securities 19 - 3,614 - 3,614 Contingent liabilities - - - - / 21 Prostatype Genomics Annual Report 2025
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Cash flow analysis Group Parent company TSEK Note 2025 2024 2025 2024 Profit/loss after financial items -44,503 -41,051 -34,647 -41,051 Adjustments for items not included in cash flow 18 7,719 916 10,979 11,817 Cash flow from operationg activities before changes in working capital -36,785 -40,135 -23,668 -29,234 Change in inventory 16 109 16 109 Change in operating receivables 264 -244 809 -2,613 Change in operating liabilities 12,703 -4,439 8,042 -4,732 Cash flow from changes in working capital 12,983 -4,574 8,867 -7,236 Cash flow from current operations -23,801 -44,709 -14,801 -36,470 Acquisition of intangibles -13,182 -7,578 -13,182 -3,816 Acquisition of tangibles -258 -285 -258 -285 Financing of subsidiaries 13 - - -9,507 -11,455 Change in financial assets 81 -493 81 -493 Cash flow from investment activities -13,359 -8,356 -22,866 -16,048 Share issue proceeds 31,597 66,151 31,597 66,151 Loans raised 10,550 8,825 10,550 8,825 Loans amortized -5,317 -15,225 -5,317 -15,225 Cash flow from financing activities 36,831 59,751 36,831 59,751 Changes in cash and cash equivalents -330 6,686 -835 7,233 Cash and cash equivalents at the beginning of the period 9,420 2,682 9,302 2,069 Translation differences cash and cash equivalents -23 52 - - Cash and cash equivalents at the end of the period 9,068 9,420 8,467 9,302 / 22 Prostatype Genomics Annual Report 2025
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Equity The group’s change in equity in summary TSEK Note # Share capital Other capital/ premium reserves Other equity including net profit/loss for the year Total Equity Opening balance 2024-01-01 7,168 177,153 -159,647 24,674 Reduction of share capital -56,942 5,973 50,969 - New share issues 50,445 11,033 - 61,478 Net share issues, subscribed not paid-up - 13 - 13 Issue expenses - -10,486 - -10,486 Currency translation differences - - -1,158 -1,158 Profit/loss for the period - - -41,051 -41,051 Closing balance 2024-12-31 670 183,687 -150,888 33,469 Opening balance 2025-01-01 670 183,687 -150,888 33,469 New share issues 5,248 36,455 - 41,703 Issue expenses - -8,325 - -8,325 Currency translation differences - - 4,185 4,185 Profit/loss for the period - - -44,503 -44,503 Closing balance 2025-12-31 5,919 211,817 -191,206 26,529 / 23 Prostatype Genomics Annual Report 2025
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Equity, cont. Parent company condensed financial statements Restricted equity Non-restricted equity TSEK Share capital Other restricted eqity Development fund Premium fund Profit/loss brought forward Total Equity Opening balance 2024-01-01 7,168 275 14,853 176,878 -167,978 31,196 Reduction of share capital -56,942 5,973 - - 50,969 - New share issues 50,445 -6,248 - 17,281 - 61,478 Net share issues, subscribed not paid-up - 13 - - - 13 Issue expenses - - - -10,486 - -10,486 Development fund - - -1,857 - 1,857 - Profit/loss for the period - - - - -41,051 -41,051 Closing balance 2024-12-31 670 13 12,996 183,674 -156,203 41,150 Opening balance 2025-01-01 670 13 12,996 183,674 -156,203 41,150 New share issues 5,248 -13 - 36,468 - 41,703 Issue expenses - - - -8,325 - -8,325 Development fund - - -1,857 - 1,857 - Profit/loss for the period - - - - -34,647 -34,647 Closing balance 2025-12-31 5,919 - 11,140 211,817 -188,993 39,883 / 24 Prostatype Genomics Annual Report 2025
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Disclosure notes Note 1 Accounting principles The group’s accounting and valuation principles The annual report and consolidated financial statements have been prepared in accordance with the Annual Accounts Act and the Accounting Standards Board’s general guidelines BFNAR 2012:1 Annual report and consolidated statements (K3). The principles are unchanged compared to the previous year. Consolidated financial statements In the consolidated financial statements, the parent company and the subsidiaries’ operations are consolidated. Subsidiaries are all companies in which the Group has the right to formulate the company’s financial and operational strategies in order to obtain financial benefits. The Group obtains and exercises control by holding more than half of the votes. The consolidated financial statements are presented in the currency SEK, which is also the parent company’s accounting currency. Subsidiaries in other countries prepare annual accounts in their respective functional currencies. During the consoli- dation, the items in these companies’ balance sheets and income statements are recalculated to the closing rate and the spot exchange rate for the day the business event in question took place. The exchange rate differences that arise are reported in accumulated exchange rate differences in the group’s equity. Intra-group transactions and balance sheet items are eliminated in their entirety by consolidation, including unrealized gains and losses on transactions between Group companies. In cases where unrealised losses on intra-group assets are reversed through consolidation, the underlying asset’s impairment needs are also assessed from a Group perspective. All amounts in this report have been rounded to the nearest thousand kronor (TSEK) unless otherwise stated. Rounding differences may therefore occur. Income statement Net sales include sales of goods and services in the Group’s ordinary operations less discounts, value added tax and other taxes directly linked to sales. Revenues are recognized when it is likely that the financial benefits will accrue to the Group and the revenue can be reliably calculated. Proceeds from the sale of goods are recognised when the material risks and benefits associated with ownership have been transferred to the buyer. Revenue from services is recognized in the period in which the service is performed. Sales of the company’s product are classified as sales of goods and are reported when significant risks and benefits are transferred from the seller to the buyer in accordance with given terms of sale. Sales are reported after deduction of VAT and discounts. Foreign currencies Monetary asset and liability items in foreign currency are valued at the closing rate at the balance sheet date. Transactions in foreign currency are converted according to the spot exchange rate on the day of the transaction. Employee compensation Compensation to employees refers to all forms of compensation that the company provides to the employees and in the group and consists of salary, social security contributions, holiday pay, paid sick leave, medical care and bonus and compensation after termination of employment (pension). Short-term compensation is reported as an expense and a liability when there is a legal or informal obligation to pay compensation. The group provides compensation after termination of employment in the form of pensions through defined contribution plans. The group then pays fixed fees to other legal entities that have the commitment towards the employees. The Group has no legal or informal obligations to pay additional fees beyond payments of the established fee that is recognized as an expense in the period in which the relevant service is performed. Severance pay is paid when the company decides to terminate an employment before the normal time for termination of employment or when an employee accepts an offer of voluntary resignation in exchange for such compensation. If the compensation does not give the company any future financial benefit, a liability and an expense are recognized when the company has a legal or informal obligation to provide such compensation. The compensation is valued at the best estimate of the compensation that would be required to settle the obligation on the balance sheet date. During the financial year, the company has had no share-based payments. Lease Lease agreements are classified at the conclusion of the lease agreement as either financial or operational lease. In the group, there are only operational lease agreements. These are expensed linearly over the lease period. / 25 Prostatype Genomics Annual Report 2025
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Loan costs The loan costs that arise when the Company borrows capital are expensed in the income statement in the period in which they arise. Income taxes Total tax consists of current tax and deferred tax. Current tax is income tax for the current financial year which refers to the year’s taxable profit and the part of the previous financial year’s income tax that has not yet been reported. Deferred tax is income tax for taxable income for future financial years as a result of previous transactions or events. Current tax, as well as changes in deferred tax, are reported in the income statement unless the tax is attributable to an event or transaction that is reported directly in equity. Tax effects of items that are reported directly against equity are reported against equity. Current tax is calculated based on the tax rate that applies as of the balance sheet date. Receivables and liabilities are reported net only when there is a legal right to offset. Deferred tax assets regarding loss carry-forwards or other future tax deductions are reported to the extent that it is deemed likely that the deduction can be deducted against a surplus in future taxation. See note 2. Intangible assets Intangible fixed assets are recognized at acquisition value after deductions for accumulated depreciation and impairment. In the consolidated statements, the activation model is applied for internally generated intangible assets. Depreciation is made on a straight-line basis over the estimated useful life, which for internally generated intangible fixed assets is estimated to be 10 years. Depreciation begins when the asset is ready for use. External costs for patent applications in new markets are capitalized if the company is deemed to have a financial benefit from the patent in the relevant market. Amortization of capitalized patent costs will take place during the useful life from the time this starts. Tangible fixed assets Intangible fixed assets are recognized at acquisition value after deductions for accumulated depreciation. The acquisition value includes expenses that are directly related to the acquisition. When a component of a fixed asset is replaced, any remaining part of the old component is retired and the cost of the new component is capitalized. Expenditures for ongoing repair and maintenance are recognized as costs. Tangible fixed assets are depreciated on a straight-line basis over the asset’s estimated useful life. When the depreciable amount of the assets is determined, the asset’s residual value is taken into account, if applicable. The company has adopted 5 years as the useful life for all tangible fixed assets. Impairment testing of intangible and tangible fixed assets At each balance sheet date, an assessment is made as to whether there is any indication that an asset’s value is lower than its reported value. If there is such an indication, the asset’s recovery value is calculated. If the recovery value is less than the reported value, an impairment is made and expensed. An internally developed intangible fixed asset that is not yet ready to be used or sold as of the balance sheet date is always tested for impairment. The recoverable amount of an asset or a cash-generating unit is the higher of fair value less costs to sell and value in use. The net sales value consists of the estimated sales price after deduction of sales costs. The value in use consists of future cash flows. When assessing the need for impairment, the assets are grouped at the lowest levels where there are separate identifiable future cash flows (cash-generating units). Write-downs are made if and when the recoverable value is below the carrying amount. Financial instruments Financial instruments are valued based on the acquisition value. The instrument is reported in the balance sheet when the company becomes a party to the instrument’s contractual terms and includes securities, accounts receivable and other receivables, short-term investments, accounts payable and loan liabilities and any derivative instruments. Financial assets are removed from the balance sheet when the right to receive cash flows from the instrument has expired or been transferred and the Group has transferred substantially all the risks and rewards associated with ownership. Financial liabilities are removed from the balance sheet when the obligations have been settled or otherwise terminated. Accounts receivable and other current receivables Accounts receivable and current receivables are recognized as current assets at the amount that is expected to be paid after deduction for individually assessed doubtful debts. / 26 Prostatype Genomics Annual Report 2025
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Loan liabilities and accounts payable Loan liabilities and accounts payable are initially reported at acquisition value after deducting transaction costs. If the reported amount differs from the amount to be repaid at maturity, the difference is accrued as interest expense over the term of the loan using the instrument’s effective interest rate. Hereby, at the due date, the recognized amount and the amount to be repaid correspond. Loan liabilities and accounts payable are initially reported at acquisition value after deducting transaction costs. If the reported amount differs from the amount to be repaid at maturity, the difference is accrued as interest expense over the term of the loan using the instrument’s effective interest rate. Hereby, at the due date, the recognized amount and the amount to be repaid correspond. Set-off of financial receivable and financial debt A financial asset and a financial liability are set off and recognized at a net amount in the balance sheet only when a legal right to offset exists and when a settlement with a net amount is intended to take place or when a simultaneous disposal of the asset and settlement of the liability is intended to take place. Impairment testing of financial fixed assets At each balance sheet date, an assessment is made as to whether there is any indication of impairment in any of the financial fixed assets. Impairment occurs if the decrease in value is deemed to be permanent. The need for impairment is tested individually for shares and other individual financial fixed assets that are significant. Inventory Inventory is valued at the lower of acquisition value and net realizable value. The acquisition value is determined using the first-in, first-out principle (FIFU). For raw materials, all expenses that are directly attributable to the acquisition of the goods are included in the acquisition value. For goods in process and finished goods, the acquisition value includes raw materials, direct wages, other direct costs and attributable indirect manufacturing costs. Cash flow analysis The cash flow analysis is prepared using the indirect method. The recognized cash flow includes only transactions that entailed receipts or payments. As liquid funds, the company classifies, in addition to cash, as well as short-term liquid investments that are listed on a market place and have a shorter maturity than three months from the time of acquisition. Restricted funds are not classified as liquid funds. Changes in blocked funds are reported in investment activities. The parent company’s accounting and valuation principles In the parent company, the same accounting and valuation principles are applied as in the group, except in the cases stated below. The principles are unchanged compared to the previous year. Shares in subsidiaries Shares in subsidiaries are reported at acquisition value after deduction for any impairment. The acquisition value includes the purchase price paid for the shares as well as acquisition costs. Any capital contributions are added to the acquisition value when they arise. Dividends from subsidiaries are reported as income. Equity Equity is divided into restricted and non-restricted equity, in accordance with the division of the Annual Accounts Act. Note 2 Estimations and assessments Prostatype Genomics AB makes estimates and assessments about the future. The estimates for accounting purposes that result from these will, by definition, rarely correspond to the actual result. The estimates and assumptions that involve a significant risk of significant adjustments in the reported values of assets and liabilities in the coming years are dealt with in outline below. Loss carryforward Prostatype Genomics AB’s loss carryforward has not been valued and is not reported as a deferred tax asset. These loss carryforwards are valued only when the company has established a profit level which the company management with certainty considers will lead to tax surpluses. / 27 Prostatype Genomics Annual Report 2025
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Intangible assets The Group’s intangible assets consist predominantly of capitalised development costs and, to a lesser extent, licences and other rights. The accounting of capitalized development costs includes material assessments, primarily regarding when expenses for development projects meet the criteria for capitalization, such as technical and commercial feasibility and the likelihood of future economic benefits. The management continuously assesses the value of the Group’s intangible assets, based on assumptions about future sales growth, operating margins and cash flows. Changes in these assumptions may entail that the reported values need to be reassessed. In the parent company, additional financing of the subsidiary was expensed on an ongoing basis through write-downs of receivables. Capital requirements and going concern The board of directors makes the assessment that the group is dependent on additional capital injections until a positive operating cash flow is reached. Based on ongoing financing activities, it is the board’s assessment that the group will secure the liquidity required for the needs of the business. The board of directors works proactively to secure growth capital through a combination of debt financing, new issues and strategic collaborations to accelerate commercialization. It is the Board’s overall conclusion that these measures will ensure continued operations, which is why the report is prepared with the going concern assumption. However, the board of directors would like to draw attention to the fact that if the necessary additional financing is not realised, this will constitute a material uncertainty factor for the group’s ability to continue operations over the next 12 months. Note 4 Remuneration to auditors Group Parent Company TSEK 2025 2024 2025 2024 Grant Thornton Sweden AB Audit assignment 549 406 549 406 Auditing activities other than auditing assignment 106 218 106 218 Tax consulting 6 - 6 - 661 623 661 623 Note 3 Breakdown of sales Group Parent Company TSEK 2025 2024 2025 2024 Sweden 285 187 285 187 Europe 197 12 197 12 USA 112 - - - Other - - - - 594 199 482 199 There has been no intra-group sales or purchases between the Parent Company and the subsidiary. / 28 Prostatype Genomics Annual Report 2025
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Note 5 Average number of employees, salaries and other remuneration Average number of employees by country Group Parent Company 2025 2024 2025 2024 Sweden 5 4 5 4 USA 2 2 - - 7 6 5 4 Remunerations Group Parent Company TSEK 2025 2024 2025 2024 Board and CEO Salaries and remuneration 2,527 2,570 2,527 2,570 Statutory Social Security costs 930 929 930 929 Pensions 458 395 458 395 3,915 3,894 3,915 3,894 Other employees Salaries and remuneration 9,771 10,420 3,215 3,807 Statutory Social Security costs 1,108 1,136 1,108 1,136 Pensions 975 568 484 292 11,855 12,125 4,807 5,235 The CEO is eligible to an annual bonus up to two months’s salary worth to the discretion of the Board. If notice is given by the CEO, the period of notice is six months and if notice is given by the company the period of notice is nine months. Remuneration for the Board has been expensed for the period between the annual general meeting and the end of the period. Gender distribution in the Board of directors and Executive management Group Parent Company Women Men Women Men Parent Company Board members and CEO 0% 100% 0% 100% Senior Management 0% 100% 50% 50% Subsidiaries Board members and CEO 0% 100% 0% 100% Information on gender does not reflect the gender identity of individual employees, but rather the last number in their personal id-number in accordance with gender binary legislation regarding statistics in annual reports. / 29 Prostatype Genomics Annual Report 2025
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Note 6 Taxes Group Parent Company TSEK 2025 2024 2025 2024 Current tax expense - - - - Deferred tax income (+)/expense (–) - - - - Current tax - - - - Net result before taxes -44,503 -41,051 -34,647 -41,051 Tax calculated according to the Swedish tax rate, 20.6% (20.6%) 9,168 8,457 7,137 8,456 Effect of foreign tax rates 64 49 - - Tax effect of non-deductible expenses -1,310 -2,566 -1,310 -2,566 Tax effect of non-taxable income 71 45 71 45 Tax effect of items presented in equity 1,715 2,160 1,715 2,160 Tax effect of group eliminations 1,262 2,531 - - Tax effect of non-capitalized loss carry-forwards -10,970 -10,675 -7,613 -8,095 Reconciled tax - - - - Unused and not accounted tax loss carry forwards The Group’s total accumulated tax loss carry forwards on December 31, 2025 amounted to SEK 279 million. The Parent Company’s accumulated tax losses on December 31, 2025 amounted to SEK 244 million. These tax loss carry forwards does not have any book value since the Group has historically not shown taxable profits. Note 7 Capitalised dev elopment e xpenditures Group Parent Company TSEK 2025 2024 2025 2024 Accumulated acquisition value Opening balance 32,160 26,893 27,533 24,286 Investments 13,182 4,939 13,182 3,246 Exchange rate differences -756 328 - - Closing balance 44,586 32,160 40,714 27,533 Accumulated amortization Opening balance -5,570 -3,713 -5,570 -3,713 Amortization -1,857 -1,857 -1,857 -1,857 Exchange rate differences - - - - Closing balance -7,427 -5,570 -7,427 -5,570 Net carrying amount 37,159 26,591 33,288 21,963 / 30 Prostatype Genomics Annual Report 2025
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Note 8 Patents Group Parent Company TSEK 2025 2024 2025 2024 Accumulated acquisition value Opening balance 372 372 372 372 Investments - - - - Closing balance 372 372 372 372 Accumulated amortization Opening balance -372 -372 -372 -372 Amortization - - - - Closing balance -372 -372 -372 -372 Net carrying amount 0 0 0 0 Note 9 Licenses Group Parent Company TSEK 2025 2024 2025 2024 Accumulated acquisition value Opening balance 2,769 - 569 - Investments - 2,639 - 569 Exchange rate differences -359 130 - - Closing balance 2,410 2,769 569 569 Accumulated depreciation Opening balance -92 - -9 - Depreciation -212 -89 -114 -9 Exchange rate differences 20 -3 - - Closing balance -284 -92 -123 -9 Net carrying amount 2,125 2,677 446 560 / 31 Prostatype Genomics Annual Report 2025
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Note 11 Equipment and tools Group Parent Company TSEK 2025 2024 2025 2024 Accumulated acquisition costs Opening balance 68 245 68 245 Investments 192 68 192 68 Divestments - -245 - -245 Closing balance 260 68 260 68 Accumulated depreciation Opening balance -3 -245 -3 -245 Depreciation -52 -3 -52 -3 Divestments - 245 - 245 Closing balance -55 -3 -55 -3 Net carrying amount 205 65 205 65 Note 10 Technical equipment Group Parent Company TSEK 2025 2024 2025 2024 Accumulated acquisition costs Opening balance 710 563 710 563 Investments 67 217 67 217 Divestments - -70 - -70 Closing balance 776 710 776 710 Accumulated depreciation Opening balance -462 -503 -462 -503 Depreciation -67 -29 -67 -29 Divestments - 70 - 70 Closing balance -529 -462 -529 -462 Net carrying amount 247 247 247 247 / 32 Prostatype Genomics Annual Report 2025
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Note 13 Loans to subsidiaries Parent Company TSEK 2025 2024 Loans extended 9,507 11,455 Loans repaid - - Currency translation difference -4,041 1,336 Impairment of loans -6,126 -12,285 8,963 9,623 The internal loan runs with 10% simple interest. Note 14 Share capital Number of shares Share Capital, TSEK Parent company 2025 2024 2025 2024 Number/value at the beginning of the year 6,704,770 119,460,007 670 7,168 New share issues 27,989,347 4,197,126,290 2,799 41,971 Set-off issues 2,306,148 629,240,383 231 6,292 Share issues from warrants excercised 22,189,056 202,524,736 2,219 2025 Reductions of share capital - - - -56,942 Effect from consolidation of shares 1000:1 - -5,143,203,065 - - Share issues from warrants exercised post-consolidation - 1,556,419 - 156 Number/value at the end of the year 59,189,321 6,704,770 5,919 670 There is only one series of shares. All shares are issued and fully paid in and the terms and conditions of Prostatype Genomics AB’s share class are in accordance with Swedish law. As per 31 December 2025, the shares have a quote value of SEK 0.10. Note 12 Participation in group companies Parent Company TSEK Number of shares Share of capital 2025-12-31 2024-12-31 Prostatype Genomics Inc., 6005878, USA 1,000 100% 0 0 0 0 During the year, there have been no changes in the parent company’s investments in subsidiaries. / 33 Prostatype Genomics Annual Report 2025
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Note 15 Borrowings Group Parent Company TSEK 2025-12-31 2024-12-31 2025-12-31 2024-12-31 Repayment within 1 year 5,300 67 5,300 67 Repayment in 2–5 years - - - - Repayment in more than 5 years - - - - 5,300 67 5,300 67 Non-current Growth loan, Almi - - - - - - - - Current Growth loan, Almi - 67 - 67 Bridge loans - - - - Shareholder loans 5,300 - 5,300 - 5,300 67 5,300 67 Note 17 Accrued expenses and deferred income Group Parent Company TSEK 2025-12-31 2024-12-31 2025-12-31 2024-12-31 Employee-related costs 2,905 864 516 864 Accrued interest expenses 795 - 795 - Other accrued expenses 1,123 2,349 874 2,277 4,823 3,213 2,186 3,141 Note 16 Other current liabilities Group Parent Company TSEK 2025-12-31 2024-12-31 2025-12-31 2024-12-31 Employee-related liabilities 898 2,646 326 2,646 Accounts payables on payment plan 10,564 - 10,564 - 11,462 2,646 10,890 2,646 / 34 Prostatype Genomics Annual Report 2025
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Note 19 Pledged assets and contingent liabilities Group Parent Company TSEK 2025-12-31 2024-12-31 2025-12-31 2024-12-31 Chattel mortgages - 3,500 - 3,500 Assets with ownership reservation - 114 - 114 - 3,614 - 3,614 According to the board’s assessment, the company has no contingent liabilities. Note 20 Transactions with related parties All transactions with related parties have, in the opinion of the Board of Directors, been conducted on market terms. Other than the transactions described below, no other material transactions with related parties occurred during the financial year. Shareholder loans In December 2025 and January 2026, the company signed short-term loan agreements with the board members and major shareholders, among others, of 6.5 MSEK, of which 2.0 MSEK with board members; Håkan Englund with 1.5 MSEK, Anders Lundberg with 0.2 MSEK, Michael Häggman with 0.2 MSEK and Jörgen Dahlström with 0.1 MSEK. The remaining parts were borrowed by shareholders Tobias Wåhlin (2.0 MSEK), Hans Öhman (1.0 MSEK), Lasse Svensson (0.5 MSEK), Anders Liljeblad (0.5 MSEK), Filip Norlin (0.3 MSEK) and Staffan Ek (0.2 MSEK). The loans have a fixed period interest rate of 15% and run until June 30, 2026. The loans were signed privately or through controlled companies. Consultancy fees Board member Mattias Prage is employed at Advokatbyrån Lindahl KB, which the company engages for advice on legal issues and company administration. During the year, Lindahl invoiced the company 645 TSEK (1 036). Board member Jörgen Dahlström is CEO of Mercodia AB, which has purchased consulting services from the company for 145 TSEK (0). Johan Waldhe, who was a board member up until the 2025 annual general meeting, is CEO of the commu- nications and consulting company Honeybadger AB. Services for 616 TSEK (711) were procured during the time of the board assignment. Other information All transactions with related parties have, in the opinion of the Board of Directors, been conducted on market terms. Other than what is stated above, no other material transactions with related parties occured during the financial year. Note 18 Adjustments for non-cash items Group Parent Company TSEK 2025 2024 2025 2024 Depreciations and amortizations 2,187 1,979 2,089 1,899 Adjustment for interest payments 795 -336 -1,101 -1,898 Set-off issues, accounts payable - 622 - 622 Write-down of loans to subsidiaries - - 6,126 12,285 Currency translation effects 4,736 -1,349 3,865 -1,091 7,719 916 10,979 11,817 / 35 Prostatype Genomics Annual Report 2025
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Note 22 Significant events after the end of the financial year Publication of U.S. validation study The clinical evidence was further strengthened with the publication of the company’s U.S. validation study for Prostatype® in the medical journal Prostate Cancer and Prostatic Diseases. The study, conducted in collaboration with Veteran Affairs and Cedars-Sinai Health System, included a diverse patient population and demonstrated once again that the test demonstrates strong and significant prognostic ability to support clinical decisions in prostate cancer diagnostics. This publication further strengthens the evidence base in the United States and contributes to increased clinical credibility in the most important international market. Loan financing In December 2025 and January 2026, the company was provided with additional financial flexibility through the signing of short-term loans totalling 10 MSEK, including loans from both major shareholders and external lenders. The financing aims to secure short-term working capital without an immediate dilution effect for the shareholders. Proposal for resolution on rights issue On May 19 , 2026, the company announced the board’s intention to resolve on a rights issue of units (shares and two series of warrants) of approximately SEK 47 .4 million before issue costs. The rights issue is secured to approximately 70 percent through subscription commitments and guarantee commitments and is intended to finance the continued Medicare process and commercialization activities in the US and Europe. Warrants of series TO6 and TO7 , if fully exercised, may provide the company with additional capital of a total of approximately SEK 60 million before issue costs. Note 21 Appropriation of earnings Retained earnings (SEK) in the parent company at the disposal of the annual general meeting Share premium 211,816,929 Retained earnings -154,346,577 Profit/loss for the year -34,646,520 22,823,832 The Board of Directors proposes that the profit/loss be distributed so that they are transferred to the following accounting period. 22,823,832 / 36 Prostatype Genomics Annual Report 2025
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Management Fredrik Rickman Chief Executive Officer since 2017 About: B.Sc in Business Administra- tion and Economics, University of Lund. 30+ years of international life science industry experience in leading positions with focus on operational and organizational growth. Other assignments: - Holdings in the Company: 75,035 shares Anders Koch Chief Financial Officer since December 2023 About: M.Sc. in Economics and Business, Stockholm University. Deep experience in financial reporting and managerial finance cemented from 13 years as authorized public accountant with PwC followed by 13+ years as CFO, Financial Controller and member of the Executive Management teams in the Telecom and Digital Media Production industries. The position is part-time. Other assignments: Carisus Holding AB, CEO and owner Holdings in the Company: - Steven Gaal President US operations since 2023 About: BA in Business Administration, East Stroudsburg University. Steven brings over 19 years of successful commercial experience in molecular diagnostics and oncology. Previously, he served as Commercial Director-US of Skyline Diagnostics, a Dutch- owned San Diego based-CAP/CLIA genomics laboratory providing LDT assays for melanoma and multiple myeloma prognosis. At MDxHealth he was instrumental in the launch and clinical adoption of the company’s tissue and urine-based LDT tests in urology and oncology. He has also held leadership roles at P4 Diagnos- tics, was National Director of Sales/ Hospital Pathology at LabCorp/US LABS (acquired by LabCorp). Other assignments: - Holdings in the Company: - / 37 Prostatype Genomics Annual Report 2025
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Mattias Prage Board member since 2022 About: Lawyer and partner at Advokatfirman Lindahl, special- ized in corporate law, financing and commercial contracts. Independent in relation to Prostatype Genomics, its senior management and major shareholders. Holdings in the Company: - Jörgen Dahlström Board member since 2013 About: Holds a Ph.D. in Immunology and a M.Sc. in Biochemistry from Uppsala University and an Executive MBA. Jörgen is the CEO of Mercodia, a Swedish based Life Science company and has more than 25 years’ experience from the interna- tional Life Science industry. The main focus has been on developing and executing company strategies for commercialization and business growth. He has held se veral senior leadership positions including CEO of Svar Life Science. Jörgen has an extensive strategic and commercial experience and a wide international network. Independent in relation to Prostatype Genomics, its senior management and major shareholders. Holdings in the Company: 334,000 shares Anders Lundberg Chairman of the Board (member of the board since 2017) About: M.Sc. Mechanical Engineering, KTH, Stockholm, Sweden. Founder and CEO of a telecom equipment supplier recognized by the market and later brought to a successful IPO in 2011 on the MID-CAP list OMX-Nasdaq [TRMO:Transmode] Other assignments: AJ Lundberg Kapitalför- valtning AB; Board member, Sollentuna- fastigheter 2 AB; Deputy board member, Sollentunahem AB; Deputy board member Independent in relation to Prostatype Genomics, its senior management and major shareholders. Holdings in the Company: 606,840 shares Dr. Michael Häggman Board member since 2018 About: M.D, Ph.D. associate professor, department of Urology, Akademiska University Hospital, Uppsala, Sweden. More than 30 years of experience practicing as urologist with an extensive national and international network among urologists. Other assignments: Skrotum Komman- ditbolag; General partner, Kardinaltalet AB; Deputy board member Independent in relation to Prostatype Genomics, its senior management and major shareholders. Holdings in the Company: 456,720 shares Håkan Englund Board member since 2019 About: Various courses in economics and chemistr y from Uppsala University, Sweden. Courses in polymer technology at Royal Institute of Technology in Stockholm, Sweden. More than 30 years of operational and investment experience from life science and health care industry with focus on commercialization and business devel- opment. Håkan has held several leading management positions at Pharmacia Biotech and Phadia and has during his career developed extensive national and international relevant networks. Other assignments: Antrad Medical AB; Board member, JDS Invest AB; CEO and owner Independent in relation to Prostatype Genomics, its senior management and major shareholders. Holdings in the Company: 1,876,985 shares / 38 The Board of Directors Prostatype Genomics Annual Report 2025
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Anders Lundberg Chairman of the Board Håkan Englund Board member Dr. Michael Häggman Board member Jörgen Dahlström Board member Mattias Prage Board member Fredrik Rickman Chief Executive Officer Our audit report has been submitted on June 1, 2026 Grant Thornton Sweden AB Joakim Söderin Authorised Public Accountant Signatures The Board of Directors and the Chief Executive Officer certify that the annual report and consolidated financial statements for the period 1 January 2025 to 31 December 2025 give a true and fair view of the development of the Group’s and the Parent Company’s operations, financial position and results of operations, and describe the material risks and uncertainties the Group and the Parent Company are facing. The annual report and consolidated financial statements were approved for publication by the Board of Directors and the Chief Executive Officer on 1 June 2026. The annual report and consolidated financial statements were signed by all Board members and the Chief Executive Officer on 1 June 2026. / 39 Prostatype Genomics Annual Report 2025
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Auditor’s report uncertainty about the company’s ability to con-tinue as a going concern. We would also draw attention to the text in the Valuation of Assets section which states that there is a risk that if the company’s objectives are not achieved within the planned timeframe, it may result in the intangible assets being amortised at an accelerated rate, or completely. Other Information than the annual accounts and c onsolidated accounts This document als o contains other information than the an-nual accounts and consolidated accounts and is found on pages 1 - 12. The Board of Directors and the Managing Direc- tor are responsible for this other information. Our opinion on the annual accounts and consolidated ac-counts does not cover this other information and we do not express any form of assurance conclusion regarding this other information. In connection with our audit of the annual accounts and consolidated accounts, our responsibility is to read the in-formation identified above and consider whether the infor-mation is materially inconsistent with the annual accounts and consolidated accounts. In this procedure we also take into account our knowledge otherwise obtained in the audit and assess whether the information otherwise appears to be materially misstated. If we, based on the work performed concerning this infor- mation, conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Responsibilities of the Board of Directors and the Managing Dir ector The Board o f Directors and the Managing Director are re-sponsible for the preparation of the annual accounts and consolidated accounts and that they give a fair presentation in accordance with the Annual Accounts Act. The Board of Directors and the Managing Director are also responsible for such internal control as they determine is necessary to enable the preparation of annual accounts and consolidated accounts that are free from material misstatement, whether due to fraud or error. In preparing the annual accounts and consolidated accounts, The Board of Directors and the Managing Director are responsible for the assessment of the company’s and the group’s ability to continue as a going concern. They disclose as applicable, matters related to going concern and using N.B. The English text is a translation of the official version in Swedish. In the event of any conflict between the Swedish and English version, the Swedish shall prevail. / 40 To the general meeting of the shareholders of Pr ostatype Genomics AB Corporate identity number 556726 – 0285 Report o n the annual acc ounts an d consolidated ac counts Opinions We have audited the annual accounts and consolidated accounts of Prostatype Genomics AB for the year 2025. The annual accounts and consolidated accounts of the com- pany are included on pages 13 - 39 in this document. In our opinion, the annual accounts and consolidated ac-counts have been prepared in accordance with the Annual Accounts Act and present fairly, in all material respects, the financial position of parent company and the group as of 31 December 2025 and their financial performance and cash flow for the year then ended in accordance with the Annual Accounts Act. The statutory administration report is consistent with the other parts of the annual accounts and consolidated accounts. We therefore recommend that the general meeting of share- holders adopts the income statement and balance sheet for the parent company and the group. Basis for Opinions We conducted our audit in accordance with International Standards on Auditing (ISA and generally accepted auditing standards in Sweden. Our responsibilities under those standards are further described in the Auditor’s Responsibili- ties section. We are independent of the parent company and the group in accordance with professional ethics for accountants in Sweden and have otherwise fulfilled our ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinions. Material Uncertainty Related to Going Concern We dr aw attention to the text in the Directors’ Report under the section Liquidity, financning, capital needs as well as note 2 under the section Capital requirements and going concern which states that the company does not have suffi-cient working capital to finance its operations in 2025, and that the Boar d is actively working to resolve the capital re-quirement. If the outcome of this is not as expected, there is significant Prostatype Genomics Annual Report 2025
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the going concern basis of accounting. The going concern basis of accounting is however not applied if the Board of Directors and the Managing Director intend to liquidate the company, to cease operations, or has no realistic alternative but to do so. Auditor’s responsibility Our objectives are to obtain reasonable assurance about whether the annual accounts and consolidated accounts as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinions. Reasonable assurance is a high level of assur-ance, but is not a guarantee that an audit conducted in accordance with ISAs and generally accepted auditing standards in Sweden will always detect a material mis-state- ment when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these annual accounts and consolidated accounts. As part of an audit in accordance with ISAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also: • Identify and ass ess the risks of material misstatement of the annual accounts and consolidated accounts, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinions. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. • Obtain an under standing of the company’s internal con-trol relevant to our audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company’s internal control. • Evaluate the appr opriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors and the Managing Director. • Conclude on the appropriat eness of the Board of Directors’ and the Managing Director’s use of the going concern basis of accounting in preparing the annual accounts and consolidated accounts. We also draw a conclusion, based on the audit evidence obtained, as to whether any material uncertainty exists related to events or conditions that may cast significant doubt on the company’s and the group’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the annual accounts and consolidated accounts or, if such disclosures are inadequate, to modify our opinion about the annual accounts and consolidated accounts. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause a company and a group to cease to continue as a going concern. • Evaluate the o verall presentation, structure and content of the annual accounts and consolidated accounts, including the disclosures, and whether the annual accounts and consolidated accounts represent the underlying transactions and events in a manner that achieves fair presentation. • Plan and perform the group audit t o obtain sufficient and appropriate audit evidence regarding the financial information of the entities or business units within the group as a basis for forming an opinion on the consolidated accounts. We are responsible for the direction, supervision and review of the audit work performed for purposes of the group audit. We remain solely responsible for our opinions. We must inform the Board of Directors of, among other matters, the planned scope and timing of the audit. We must also inform of significant audit findings during our audit, including any significant deficiencies in internal control that we identified. Report on other legal and regulatory requirements Opinions In addition to our audit of the annual accounts and consolidated accounts, we have also audited the administra- tion of the Board of Directors and the Managing Director of Prostatype Genomics AB for the year 2025 and the proposed appropriations of the company’s profit or loss. We recommend to the general meeting of shareholders that the profit be appropriated in accordance with the proposal in the statutory administration report and that the members of the Board of Directors and the Managing Director be discharged from liability for the financial year. Basis for Opinions We conducted the audit in accordance with generally accepted auditing standards in Sweden. Our responsi- bilities under those standards are further described in the Auditor’s Responsibilities section. We are independent of the parent company and the group in accordance with professional ethics for accountants in Sweden and have otherwise fulfilled our ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinions. / 41 Prostatype Genomics Annual Report 2025
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Responsibilities of the Board of Directors and the Managing Director The Board of Directors is responsible for the proposal for appropriations of the company’s profit or loss. At the proposal of a dividend, this includes an assessment of whether the dividend is justifiable considering the requirements which the company’s and the group’s type of operations, size and risks place on the size of the parent company’s and the group’s equity, consolidation requirements, liquidity and position in general. The Board of Directors is responsible for the company’s organization and the administration of the company’s affairs. This includes among other things continuous assessment of the company’s and the group’s financial situation and ensur-ing that the company’s organization is designed so that the accounting, management of assets and the company’s financial affairs otherwise are controlled in a reassuring manner. The Managing Director shall manage the ongoing administration according to the Board of Directors’ guidelines and instructions and among other matters take measures that are necessary to fulfill the company’s accounting in accordance with law and handle the management of assets in a reassuring manner. Auditor’s responsibility Our objective concerning the audit of the administration, and thereby our opinion about discharge from liability, is to ob-tain audit evidence to assess with a reasonable degree of assurance whether any member of the Board of Directors or the Managing Director in any material respect: • has undert aken any action or been guilty of any omission which can give rise to liability to the company, or • in any o ther way has acted in contravention of the Companies Act, the Annual Accounts Act or the Articles of Association. Our objective concerning the audit of the proposed appro-priations of the company’s profit or loss, and thereby our opinion about this, is to assess with reasonable degree of assurance whether the proposal is in accordance with the Companies Act. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with generally accepted auditing standards in Sweden will always detect actions or omissions that can give rise to liability to the company, or that the proposed appropria- tions of the company’s profit or loss are not in accordance with the Companies Act. As part of an audit in accordance with generally accepted auditing standards in Sweden, we exercise professional judgment and maintain professional skepticism throughout the audit. The examination of the administration and the proposed appropriations of the company’s profit or loss is based primarily on the audit of the accounts. Additional audit procedures performed are based on our professional judgment with starting point in risk and materiality. This means that we focus the examination on such actions, areas and relationships that are material for the operations and where deviations and violations would have particular importance for the company’s situation. We examine and test decisions undertaken, support for decisions, actions taken and other circumstances that are relevant to our opinion concerning discharge from liability. As a basis for our opinion on the Board of Directors’ proposed appropriations of the company’s profit or loss we examined whether the proposal is in accordance with the Companies Act. Remark On several occasions during the fiscal year, withheld tax, social security contributions, and value-added tax have not been paid on time. The board has therefore not fulfilled its obligations under the Companies Act, but the omissions have not caused any harm to the company, apart from late payment interest. Stockholm, according to the date as shown by electronic signature. Grant Thornton Sweden AB Joakim Söderin Authorised Public Accountant / 42 Prostatype Genomics Annual Report 2025
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