CytoMed Therapeutics Limited (GDTC) Earnings Call Transcript & Summary

Good morning and good evening, everyone. Can you hear me?

Yes.

Sorry, we have some technical issue just now. So I would like to thank you for your time to join our earnings call today. Yes, this is Yvonne, the CFO of CytoMed Therapeutics, and I have my team with me. So I would like to proceed with our presentation. Before I kick off of my presentation, please note that we will be making forward-looking statements today, which may differ materially from actual results. Please review our legal disclaimer included in all our presentations carefully. I will now give you a broad overview of the 6 months ended 30th June 2025 financial performance. Our revenue increased by 100% to SGD 156,000 for the 6 months ended 30th June 2025. Other operating income decreased by 8.5% year-on-year. We reported a net loss of $2.05 million in 2025. Our net loss will be reduced to $1.44 million if the share-based payment, net currency exchange losses, the fair value losses on warrant liability and the costs associated with being a public listed company are excluded. Loss per share was $0.19 for 6 months ended 30th June 2025. As at 30th June 2025, we have cash and bank balances of $2.86 million. Our NTA stood at $7.15 million. We move on to the next slide. The table shows the financial performance for the 6 months ended 30th June 2024 and 2025. In first half of 2025, we started generating revenue of $156,000 from private bank -- private banking services after acquiring the license and certain assets under iPSC depository. This is one of our subsidiary in Malaysia. Other operating income decreased by 8.5% from $422,000 in first half 2024 to $386,000 in first half 2025. This decrease was mainly driven by a reduction of $105,000 in interest income from the placement of IPO proceeds in fixed deposits and partially offset by an increase of $71,000 in research income. Other gain or losses net, the group reported other gains of $361,000 in first half 2024 compared to other losses of $273,000 in first half 2025. The decrease was mainly due to the net loss in currency exchange of $402,000 and a net loss of $227,000 in fair value changes on warrant liability. Research expenses increased by 19.3% from $974,000 in first half 2024 to $1.16 million in first half 2025. The increase was mainly due to the increase in employee benefit higher preclinical expenses, increase in clinical trial expenses and also in the facility-related expenses. This is partially offset by a reduction in depreciation expenses. Employee benefit expenses increased by $86,000 from $299,000 in first half 2024 to $386,000 in first half 2025. The increase was mainly due to the recognition of share-based compensation amounting to $87,000. Other expenses were $558,000 and $832,000 in first half 2024 first half 2025 respectively. The increase of $274,000 was mainly due to share-based payment of $361,000 higher investor relations expenses of $24,000 and partially offset by a reduction of $94,000 in company insurance expenses. We reported a net loss of $1.09 million in first half 2024 compared to net loss of $2.25 million in first half 2025. Net loss will be reduced to $1.44 million the share-based payment, net currency exchange losses, the fair value losses on warrant liability and the costs associated with being a public listed company are excluded. The table shows our balance sheet for 31st December 2024 and 30th June 2025. As at 31st December 2024 we had cash and bank balance of $4.97 million compared to $2.86 million as of 30th June 2025. Overall liability was $12,000 and $88,000 as of 31st December 2024 and 30th June 2025 respectively. There are 72 $371,000 warrant outstanding as of 30th June 2025. Fair value changes of the warrant liabilities of 76,000 were recorded in the statement of profit and loss account in first half of 2025. Share-based payment reserves were $448,000 effect 30th June 2025, arising from [indiscernible] ordinary shares to employee and service providers. Our NPS stood at $8.95 million as at 31st December 2024 compared to $7.15 million as at 30th June 2025. I will now proceed to update on our highlight progress. So far our first project, CTM-N2D, this is [indiscernible]. Currently, we have a clinical trial with [indiscernible] Singapore. We have completed the dose level 1 in June 2025 and now proceeding with the dose level 2. And we target to complete the Phase I trial in 2026. For our project #2, iPSC-gdNKT, is still under preclinical study. Project #3, CTM-GDT, this is the unmodified gamma-delta T-cell. The IND application is ongoing. For project #4, CTM-MSC for cartilage injury. We are collaborating with the Singapore hospital to do a preclinical study and trying to apply for the clinical trial in Singapore. For our 2025 and beyond our outlook, we have published in our peer review journal in September 2025 for the collaboration with MD Anderson Cancer Center on preclinical studies evaluating our second project, CTM-GDT for lymphoma. We have also announced this press release today just on the 7 am. We are also trying to apply the GDT trial in Malaysia and also elsewhere. Collaboration with international parties with income potential. Also in August, we have signed the ATM agreement with Lafferty to raise up to USD 4.3 million. We're also rebranding our cord blood banking business as LongevityBank. This is our PGMP manufacturing facility. It has been audited by the MOH of Malaysia. So this is our LongevityBank facility, which we acquired last year. So I'll play the video to show you the facility. We are now open for the Q&A session. Do you have any questions. If we do not have received any questions -- yes. Yes can I end this meeting if we do not receive any questions. Thank you so much for your attendings and we will end our earnings call for today. Thank you so much.