OSLO, NORWAY (29 October 2026) – The shares in TGS ASA will be traded ex dividend of NOK 1.45 (USD 0.155) as from today, 29 October 2026.
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- Dosing ongoing in fully recruited dose level 2 of MP0712 Phase 1/2a study; initial safety data to be presented at North America Conference on Lung Cancer in December 2026, efficacy data expected in 2027
- Emerging clinical data from lead Radio-DARPin candidate MP0712 enables strategic focus on radiopharmaceuticals
- Streamlining of organization, in line with corporate focus, to advance Radio-DARPin programs
- Cash position of CHF 57.5 million (USD ~69 million) as of September 30, 2026, expected to fund operations into late 2027
ZURICH-SCHLIEREN, Switzerland and CONCORD, Mass., Oct. 29, 2026 (GLOBE NEWSWIRE) — Ad hoc announcement pursuant to Art. 53 LR Molecular Partners AG (SIX, NASDAQ: MOLN), a clinical-stage biotech company developing a novel class of medicines known as DARPin therapeutics, (“Molecular Partners” or the “Company”), today announced corporate highlights and unaudited financial results for the third quarter of 2026, as well as a deepened focus on radiopharmaceuticals and streamlining of its resources.
“This third quarter marked a decisive step in Molecular Partners’ transformation into a dedicated radiopharmaceuticals company. Encouraged by the emerging Phase 1/2a data from MP0712, our DLL3 Radio-DARPin for SCLC, we believe now is the time to focus on targeted radiotherapy. With efficacy data expected in 2027, we will continue to execute our lead asset MP0712 and advance our clinical Radio-DARPin programs to deliver value to shareholders and meaningful benefit to cancer patients,” said Patrick Amstutz, Ph.D., CEO of Molecular Partners.
Focused Strategy & Shaping of Organization to Advance Radiotherapeutics:
Based on the emerging clinical profile of MP0712, Molecular Partners is deepening its strategic focus on radiotherapeutic medicines, with priority on executing on the Phase 1/2a study of its lead clinical candidate MP0712, and on advancing its growing pipeline of Radio-DARPin therapeutics, with the ambition to build a leading radiopharmaceuticals company.
Reflective of its corporate focus, the Company will streamline its capabilities and resources to support the successful development of its Radio-DARPin programs in the clinic. The Company has informed the Amt für Wirtschaft of Kanton Zürich (Office for Economic Affairs) of its intention to reduce its current workforce by no more than 55 positions, representing a potential of up to ~44% of positions. In accordance with Swiss employment law, a consultation process with employees has been initiated. Upon completion of the consultation process, the Company will offer affected employees support. Molecular Partners foresees the full implementation of these changes enacted by Q2 2027 and the reduction of costs to become fully effective early in H2 2027.
Molecular Partners maintains its previously announced timelines on its clinical assets.
Research & Development Highlights
MP0712 (DLL3-targeting Radio-DARPin Therapy, RDT)
MP0712, the Company’s lead Radio-DARPin candidate targeting the tumor-associated antigen delta-like ligand 3 (DLL3) and carrying the therapeutic alpha-emitting payload 212Pb, is being co-developed with strategic partner Orano Med, a pioneer in the development of 212Pb-based targeted alpha therapies, for the treatment of small cell lung cancer (SCLC) and other neuroendocrine cancers.
The U.S. multicenter Phase 1/2a study of MP0712 (NCT07278479) is well underway with dosing ongoing in the fully recruited dose level 2 (105 MBq per dose) and 8 sites open. All 9 planned sites are expected to open in 2026. All patients in dose level 1 (75 MBq per dose) passed the safety observation period, with no dose-limiting events observed. All adverse events reported to date were mild to moderate (grade 1–2) and transient, resolving in time for the next regular dosing cycle. Initial safety data will be presented at the IASLC / ASCO North America Conference on Lung Cancer (NACLC) in December 2026. Efficacy data are expected in 2027.
Next RDT Programs
Molecular Partners pursues an isotope-agnostic strategy for its pipeline of targeted alpha therapeutics. The versatility of DARPins allows interchangeability of alpha isotopes, including 212Pb and 225Ac and corresponding chelators, enabling candidates to be tailored to a specific target and disease biology.
The Nuclear Medicine Research Infrastructure (NuMeRI) has initiated an early-access clinical program, under the legal framework for compassionate care in South Africa, to image and treat patients with MP0714, a DLL3-targeting Radio-DARPin labeled with 177Lu and 225Ac, respectively.
The Company’s MSLN-targeting RDT program MP0726 is advancing to first-in-human imaging in H2 2026. In addition, Molecular Partners has nominated MP0730, targeting the tumor-associated antigen CD70, as the third asset for its growing RDT pipeline. At the Discovery on Target – Radioligand Therapies conference in October 2026, the Company presented first data outlining an attractive biodistribution profile of MP0730 in tumor-bearing mice, with strong and sustained tumor uptake relative to healthy tissues, including kidney, liver and blood. First-in-human program is anticipated to start mid 2027.
Molecular Partners is also developing next-generation multispecific Radio-DARPins designed to engage multiple tumor targets simultaneously, with the aim of improving precision and therapeutic efficacy for highly heterogenous cancers, as showcased at the Gordon Research Conference Radionuclide Theranostics for the Management of Cancer in July 2026.
Immune Cell Engagers
As part of its strategic focus on radiopharmaceuticals, Molecular Partners will continue to explore the broad therapeutic potential of its DARPin platforms, including Switch-DARPins inside and outside of oncology, through strategic partnerships and platform-derived spin-out opportunities, representing potential upside beyond its focus on radiotherapeutics. Recent activities from these programs include:
- A trial-in-progress poster on MP0317, a FAP-localized CD40 agonist, presented by the Phase 2 investigators at the European Society for Medical Oncology (ESMO) Congress 2026.
- Presentation of new pre-clinical data on MP0632, a logic-gated T cell engager, at the Annual Meeting of the Society for Immunotherapy of Cancer (SITC) in November 2026.
- Presentation of results from the completed Phase 1/2a dose escalation of MP0533, a novel tetra-specific T cell engager designed for selective mutation-agnostic killing of AML cells, at the American Society of Hematology (ASH) Annual Meeting in December 2026.
Financial and Business Outlook
For the full year 2026, at constant exchange rates, the Company updates its forecast with total operating expenses of CHF 50-55 million expected, including approximately CHF 5 million of non-cash effective costs for share-based payments, IFRS pension accounting and depreciation.
The Company’s cash and cash equivalents are CHF 57.5 million (USD ~69 million) as of September 30, 2026 and based on current operating assumptions, is expected to be sufficient to fund its operating expenses and capital expenditure requirements into late 2027.
The financial impact from the restructuring is not estimable at this time, as Molecular Partners is still assessing the specifics of affected employees. The Company expects to be able to provide an estimate of the expected restructuring charge, including employee termination costs, as part of the full year 2026 results in early 2027.
Financial Calendar
| March 5, 2027 | Full Year 2026 results |
| April 14, 2027 | Annual General Meeting |
The latest timing of the above events can be viewed on the investor section of the website.
About Molecular Partners AG
Molecular Partners AG (SIX, NASDAQ: MOLN) is a clinical-stage biotech company pioneering a novel class of medicines known as DARPin therapeutics for cancer patients underserved by existing treatment modalities. Molecular Partners focuses on the development of targeted radiotherapeutics, leveraging the unique properties of DARPin miniproteins as isotope-agnostic vector. The Company’s lead medicine MP0712, targeting DLL3 and armed with 212Pb, advances in a US multicenter Phase 1/2a study for patients with small cell lung cancer and other neuroendocrine cancers. Molecular Partners has established partnerships with industry leaders and academic centers covering the full value chain of radiotherapeutics. Molecular Partners, founded in 2004, has offices in both Zurich, Switzerland and Concord, MA, USA. For more information, visit www.molecularpartners.com and find us on LinkedIn.
For further details, please contact:
Seth Lewis, EVP Corporate Finance
Concord, Massachusetts, U.S.
seth.lewis@molecularpartners.com
Tel: +1 781 420 2361
Laura Jeanbart, PhD, Head of Portfolio Management & Corporate Communications
Zurich-Schlieren, Switzerland
laura.jeanbart@molecularpartners.com
Tel: +41 44 575 19 35
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements. Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995, as amended, including without limitation: implied and express statements regarding the clinical development of Molecular Partners’ current or future product candidates; expectations regarding timing for reporting data from ongoing clinical trials or the initiation of future clinical trials; the potential therapeutic and clinical benefits of Molecular Partners’ product candidates and its RDT and Switch-DARPin platforms; the selection and development of future programs; Molecular Partners’ collaboration with Orano Med including the benefits and results that may be achieved through the collaboration; Molecular Partners’ plans to streamline its organization and related workforce reductions, and its anticipated scope, cost, timing and benefits; and Molecular Partners’ expected business and financial outlook, including anticipated expenses and cash utilization for 2026 and its expectation of its current cash runway. These statements may be identified by words such as “aim”, “anticipate”, “expect”, “guidance”, “intend”, “outlook”, “plan”, “potential”, “will” and similar expressions, and are based on Molecular Partners’ current beliefs and expectations. These statements involve risks and uncertainties that could cause actual results to differ materially from those reflected in such statements. Some of the key factors that could cause actual results to differ from Molecular Partners’ expectations include, but are not limited to, those set forth under the heading “Risk Factors” in Molecular Partners’ Annual Report on Form 20-F for the year ended December 31, 2025 and other filings Molecular Partners makes with the SEC from time to time. These documents are available on the Investors page of Molecular Partners’ website at www.molecularpartners.com. In addition, this press release contains information relating to interim data as of the relevant data cutoff date, results of which may differ from topline results that may be obtained in the future.
Any forward-looking statements speak only as of the date of this press release and are based on information available to Molecular Partners as of the date of this release, and Molecular Partners assumes no obligation to, and does not intend to, update any forward-looking statements, whether as a result of new information, future events or otherwise.
- Dosing ongoing in fully recruited dose level 2 of MP0712 Phase 1/2a study; initial safety data to be presented at North America Conference on Lung Cancer in December 2026, efficacy data expected in 2027
- Emerging clinical data from lead Radio-DARPin candidate MP0712 enables strategic focus on radiopharmaceuticals
- Streamlining of organization, in line with corporate focus, to advance Radio-DARPin programs
- Cash position of CHF 57.5 million (USD ~69 million) as of September 30, 2026, expected to fund operations into late 2027
ZURICH-SCHLIEREN, Switzerland and CONCORD, Mass., Oct. 29, 2026 (GLOBE NEWSWIRE) — Ad hoc announcement pursuant to Art. 53 LR Molecular Partners AG (SIX, NASDAQ: MOLN), a clinical-stage biotech company developing a novel class of medicines known as DARPin therapeutics, (“Molecular Partners” or the “Company”), today announced corporate highlights and unaudited financial results for the third quarter of 2026, as well as a deepened focus on radiopharmaceuticals and streamlining of its resources.
“This third quarter marked a decisive step in Molecular Partners’ transformation into a dedicated radiopharmaceuticals company. Encouraged by the emerging Phase 1/2a data from MP0712, our DLL3 Radio-DARPin for SCLC, we believe now is the time to focus on targeted radiotherapy. With efficacy data expected in 2027, we will continue to execute our lead asset MP0712 and advance our clinical Radio-DARPin programs to deliver value to shareholders and meaningful benefit to cancer patients,” said Patrick Amstutz, Ph.D., CEO of Molecular Partners.
Focused Strategy & Shaping of Organization to Advance Radiotherapeutics:
Based on the emerging clinical profile of MP0712, Molecular Partners is deepening its strategic focus on radiotherapeutic medicines, with priority on executing on the Phase 1/2a study of its lead clinical candidate MP0712, and on advancing its growing pipeline of Radio-DARPin therapeutics, with the ambition to build a leading radiopharmaceuticals company.
Reflective of its corporate focus, the Company will streamline its capabilities and resources to support the successful development of its Radio-DARPin programs in the clinic. The Company has informed the Amt für Wirtschaft of Kanton Zürich (Office for Economic Affairs) of its intention to reduce its current workforce by no more than 55 positions, representing a potential of up to ~44% of positions. In accordance with Swiss employment law, a consultation process with employees has been initiated. Upon completion of the consultation process, the Company will offer affected employees support. Molecular Partners foresees the full implementation of these changes enacted by Q2 2027 and the reduction of costs to become fully effective early in H2 2027.
Molecular Partners maintains its previously announced timelines on its clinical assets.
Research & Development Highlights
MP0712 (DLL3-targeting Radio-DARPin Therapy, RDT)
MP0712, the Company’s lead Radio-DARPin candidate targeting the tumor-associated antigen delta-like ligand 3 (DLL3) and carrying the therapeutic alpha-emitting payload 212Pb, is being co-developed with strategic partner Orano Med, a pioneer in the development of 212Pb-based targeted alpha therapies, for the treatment of small cell lung cancer (SCLC) and other neuroendocrine cancers.
The U.S. multicenter Phase 1/2a study of MP0712 (NCT07278479) is well underway with dosing ongoing in the fully recruited dose level 2 (105 MBq per dose) and 8 sites open. All 9 planned sites are expected to open in 2026. All patients in dose level 1 (75 MBq per dose) passed the safety observation period, with no dose-limiting events observed. All adverse events reported to date were mild to moderate (grade 1–2) and transient, resolving in time for the next regular dosing cycle. Initial safety data will be presented at the IASLC / ASCO North America Conference on Lung Cancer (NACLC) in December 2026. Efficacy data are expected in 2027.
Next RDT Programs
Molecular Partners pursues an isotope-agnostic strategy for its pipeline of targeted alpha therapeutics. The versatility of DARPins allows interchangeability of alpha isotopes, including 212Pb and 225Ac and corresponding chelators, enabling candidates to be tailored to a specific target and disease biology.
The Nuclear Medicine Research Infrastructure (NuMeRI) has initiated an early-access clinical program, under the legal framework for compassionate care in South Africa, to image and treat patients with MP0714, a DLL3-targeting Radio-DARPin labeled with 177Lu and 225Ac, respectively.
The Company’s MSLN-targeting RDT program MP0726 is advancing to first-in-human imaging in H2 2026. In addition, Molecular Partners has nominated MP0730, targeting the tumor-associated antigen CD70, as the third asset for its growing RDT pipeline. At the Discovery on Target – Radioligand Therapies conference in October 2026, the Company presented first data outlining an attractive biodistribution profile of MP0730 in tumor-bearing mice, with strong and sustained tumor uptake relative to healthy tissues, including kidney, liver and blood. First-in-human program is anticipated to start mid 2027.
Molecular Partners is also developing next-generation multispecific Radio-DARPins designed to engage multiple tumor targets simultaneously, with the aim of improving precision and therapeutic efficacy for highly heterogenous cancers, as showcased at the Gordon Research Conference Radionuclide Theranostics for the Management of Cancer in July 2026.
Immune Cell Engagers
As part of its strategic focus on radiopharmaceuticals, Molecular Partners will continue to explore the broad therapeutic potential of its DARPin platforms, including Switch-DARPins inside and outside of oncology, through strategic partnerships and platform-derived spin-out opportunities, representing potential upside beyond its focus on radiotherapeutics. Recent activities from these programs include:
- A trial-in-progress poster on MP0317, a FAP-localized CD40 agonist, presented by the Phase 2 investigators at the European Society for Medical Oncology (ESMO) Congress 2026.
- Presentation of new pre-clinical data on MP0632, a logic-gated T cell engager, at the Annual Meeting of the Society for Immunotherapy of Cancer (SITC) in November 2026.
- Presentation of results from the completed Phase 1/2a dose escalation of MP0533, a novel tetra-specific T cell engager designed for selective mutation-agnostic killing of AML cells, at the American Society of Hematology (ASH) Annual Meeting in December 2026.
Financial and Business Outlook
For the full year 2026, at constant exchange rates, the Company updates its forecast with total operating expenses of CHF 50-55 million expected, including approximately CHF 5 million of non-cash effective costs for share-based payments, IFRS pension accounting and depreciation.
The Company’s cash and cash equivalents are CHF 57.5 million (USD ~69 million) as of September 30, 2026 and based on current operating assumptions, is expected to be sufficient to fund its operating expenses and capital expenditure requirements into late 2027.
The financial impact from the restructuring is not estimable at this time, as Molecular Partners is still assessing the specifics of affected employees. The Company expects to be able to provide an estimate of the expected restructuring charge, including employee termination costs, as part of the full year 2026 results in early 2027.
Financial Calendar
| March 5, 2027 | Full Year 2026 results |
| April 14, 2027 | Annual General Meeting |
The latest timing of the above events can be viewed on the investor section of the website.
About Molecular Partners AG
Molecular Partners AG (SIX, NASDAQ: MOLN) is a clinical-stage biotech company pioneering a novel class of medicines known as DARPin therapeutics for cancer patients underserved by existing treatment modalities. Molecular Partners focuses on the development of targeted radiotherapeutics, leveraging the unique properties of DARPin miniproteins as isotope-agnostic vector. The Company’s lead medicine MP0712, targeting DLL3 and armed with 212Pb, advances in a US multicenter Phase 1/2a study for patients with small cell lung cancer and other neuroendocrine cancers. Molecular Partners has established partnerships with industry leaders and academic centers covering the full value chain of radiotherapeutics. Molecular Partners, founded in 2004, has offices in both Zurich, Switzerland and Concord, MA, USA. For more information, visit www.molecularpartners.com and find us on LinkedIn.
For further details, please contact:
Seth Lewis, EVP Corporate Finance
Concord, Massachusetts, U.S.
seth.lewis@molecularpartners.com
Tel: +1 781 420 2361
Laura Jeanbart, PhD, Head of Portfolio Management & Corporate Communications
Zurich-Schlieren, Switzerland
laura.jeanbart@molecularpartners.com
Tel: +41 44 575 19 35
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements. Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995, as amended, including without limitation: implied and express statements regarding the clinical development of Molecular Partners’ current or future product candidates; expectations regarding timing for reporting data from ongoing clinical trials or the initiation of future clinical trials; the potential therapeutic and clinical benefits of Molecular Partners’ product candidates and its RDT and Switch-DARPin platforms; the selection and development of future programs; Molecular Partners’ collaboration with Orano Med including the benefits and results that may be achieved through the collaboration; Molecular Partners’ plans to streamline its organization and related workforce reductions, and its anticipated scope, cost, timing and benefits; and Molecular Partners’ expected business and financial outlook, including anticipated expenses and cash utilization for 2026 and its expectation of its current cash runway. These statements may be identified by words such as “aim”, “anticipate”, “expect”, “guidance”, “intend”, “outlook”, “plan”, “potential”, “will” and similar expressions, and are based on Molecular Partners’ current beliefs and expectations. These statements involve risks and uncertainties that could cause actual results to differ materially from those reflected in such statements. Some of the key factors that could cause actual results to differ from Molecular Partners’ expectations include, but are not limited to, those set forth under the heading “Risk Factors” in Molecular Partners’ Annual Report on Form 20-F for the year ended December 31, 2025 and other filings Molecular Partners makes with the SEC from time to time. These documents are available on the Investors page of Molecular Partners’ website at www.molecularpartners.com. In addition, this press release contains information relating to interim data as of the relevant data cutoff date, results of which may differ from topline results that may be obtained in the future.
Any forward-looking statements speak only as of the date of this press release and are based on information available to Molecular Partners as of the date of this release, and Molecular Partners assumes no obligation to, and does not intend to, update any forward-looking statements, whether as a result of new information, future events or otherwise.
Fund manager’s commentary
In Q3 2026, EfTEN Real Estate Fund AS focused on integrating the Magistral shopping centre, acquired in June, completing the reconstruction of Nõmme Südamekodu and maintaining the occupancy of its existing real estate portfolio. In August, the Fund carried out a directed share issue in which 197,463 new shares were issued at €19.26 per share, i.e. at the 60-day average closing price of the share preceding the decision to increase the share capital. The issue raised €3.8 million, which the Fund used to repay the €4 million fund-level loan taken out to acquire Magistral Kaubanduskeskuse OÜ.
The Fund’s consolidated EBITDA for 9 months was €21.4 million, 7.5% higher than a year earlier. More than half of the increase, i.e. €786 thousand, came from the Magistral shopping centre. Like-for-like EBITDA increased by €788 thousand, or 4.2%.
In Q3, the Lidl lease at the Piepilsetas logistics centre was terminated early and several leases at the Betooni 6 logistics centre also expired, as a result of which portfolio vacancy temporarily increased to 3.0% in August. Following new lease agreements, vacancy fell to 2.2% by the end of September, its lowest level in the last three years. In the care home segment, rental income from Nõmme and Tartu Südamekodu increased as a result of investments made in Q3.
Due to the increase in EURIBOR, the weighted average interest rate of the Group’s borrowings increased to 4.36% by the end of September (31.12.2025: 3.99%). Interest expense for Q3 was 14% higher than a year earlier, mainly due to the addition of the Magistral centre and Nõmme Südamekodu loan agreements, but also as a result of loan refinancing. For the 9-month period, however, interest expense remained 2.1% below the previous year’s level, and the interest coverage ratio (ICR) was 4.3 (9 months of 2025: 3.9). The Fund’s two interest rate swaps, which fix 1-month EURIBOR at 1.995% and 2.2%, had a positive fair value totalling €484 thousand at the end of September.
The Fund’s adjusted cash flow for 9 months was €11.0 million, 15.6% higher than in the same period of the previous year, and the Fund has generated a potential gross dividend of 75.20 cents per share for investors (9 months of 2025: 66.66 cents).
The Fund’s net asset value (NAV) per share was €20.41 and EPRA NRV €21.29 as at 30.09.2026.
Overview of financial results
The consolidated sales income of EfTEN Real Estate Fund AS for Q3 2026 was €9.117 million (Q3 2025: €8.359 million) and consolidated sales income for 9 months was €26.083 million (9 months of 2025: €24.427 million). Sales income for Q3 increased by 9.1% and sales income for 9 months by 6.8% compared with the same period of the previous year. The increase in sales income was supported by new investments in the logistics, retail and care home sectors.
The Fund’s consolidated net operating income (NOI) for 9 months of 2026 totalled €24.278 million (2025: €22.678 million), an increase of 7.1% compared with the same period of the previous year. The 9-month NOI margin was 96% in 2026 (2025: 96%), meaning that costs directly related to property management (incl. land tax, insurance, maintenance and improvement works) and marketing costs accounted for 4% (2025: 4%) of the Fund’s consolidated rental income.
In 9 months of 2026, the Fund earned a consolidated net profit of €15.018 million, 11.7% more than in the same period of the previous year. In 9 months of 2026, the Group generated adjusted cash flow (EBITDA less interest expense, loan principal repayments and income tax expense) totalling approximately €11.0 million, an increase of 15.6% compared with the same period of the previous year due to the higher level of EBITDA and lower interest expense. The Group’s total assets amounted to €424.544 million as at 30.09.2026 (31.12.2025: €405.851 million), of which the fair value of investment property accounted for 94% (31.12.2025: 94%).
Real estate portfolio
As at 30.09.2026, the Group held 36 (31.12.2025: 37) commercial investment properties with a fair value of €400.351 million at the reporting date (31.12.2025: €381.032 million) and an acquisition cost of €399.844 million (31.12.2025: €381.235 million). In addition to the above investment properties, the Group’s 50% joint venture EfTEN SPV11 OÜ owns Hotel Palace in Tallinn, the fair value of which was €8.565 million as at 30.09.2026 (31.12.2025: €8.680 million).
In 9 months of 2026, investment property in the logistics segment decreased by €9.000 million due to the sale of the DSV logistics centre in Riga, and investment property in the office segment decreased by €8.100 million due to the sale of the Menulio 11 building in Vilnius. Investment property in the retail segment increased by €31.690 million due to the acquisition of the Magistral shopping centre in Tallinn.
Investments in 9 months of 2026
In June 2026, the Group acquired a 100% interest in Magistral Kaubanduskeskuse OÜ for €12.9 million. The company owns the Magistral shopping centre at Sõpruse pst 201/203, Tallinn, the fair value of which was €31.7 million on acquisition.
In 9 months of 2026, the Group invested a total of €4.781 million in its existing real estate portfolio, including the completion of the reconstruction of the Nõmme care home, in which €2.4 million was invested in 9 months.
Sales in 9 months of 2026
In March 2026, the Group sold its 100% interest in the subsidiary EfTEN Krustpils SIA, which owned the DSV logistics centre in Riga. The Group acquired the DSV logistics centre in June 2016 and the Fund earned an internal rate of return (IRR) of approximately 10% on the project. In April 2026, the Fund’s subsidiary EfTEN Menulio UAB sold the office building it owned at Menulio 11, Vilnius. The sale price of the investment property was €571 thousand higher than its carrying amount. After repayment of the borrowings taken out to acquire Menulio 11 and settlement of other liabilities, the Fund received €5.3 million.
In April 2026, the Fund’s subsidiary EfTEN SPV7 OÜ sold the property located at A.H. Tammsaare tee 116a, Tallinn, to Ignitis Eesti OÜ. EfTEN SPV7 OÜ earned a profit of €225 thousand on the transaction.
Rental income
In 9 months of 2026, the Group earned a total of €25.175 million in rental income, 6% more than in the same period of 2025.
The vacancy rate of the Group’s investment property portfolio was 2.2% as at 30.09.2026 (31.12.2025: 3.2%). Vacancy in the office segment decreased over 9 months – from 14.4% at the end of 2025 to 7.5% at the end of September 2026. The sale of the Menulio 11 office building, where vacant premises accounted for 46%, contributed significantly to the decrease in office segment vacancy.
Financing
In 9 months of 2026, eight subsidiaries of EfTEN Real Estate Fund AS extended their bank loan agreements in a total amount of €31.6 million. The loan agreements of twelve of the Group’s subsidiaries, with a total outstanding balance of €61.236 million as at 30.09.2026, will mature within the next 12 months. The LTV (loan-to-value) of the maturing loan agreements is 28%–59% and the investment properties generate stable rental cash flow; therefore, management believes there will be no obstacles to extending the loan agreements.
Owing to their improved financial capacity, the subsidiaries of EfTEN Real Estate Fund AS increased their bank loans by a total of €3.7 million in April 2026. In addition, construction works at the Nõmme care home were financed with bank loans totalling €2.9 million in 9 months of 2026.
In June 2026, EfTEN Real Estate Fund AS entered into a loan agreement of €4 million maturing on 01.06.2027 to finance the acquisition of Magistral Kaubanduskeskuse OÜ. The loan was repaid to the bank ahead of schedule on 25.09.2026 from the proceeds of the directed share issue carried out in August.
The weighted average interest rate of the Group’s loan agreements (taking into account the interest rate swaps) was 4.36% as at 30.09.2026 (31.12.2025: 3.99%) and the LTV (loan-to-value) was 41% (31.12.2025: 41%). All of the Fund’s loan agreements carry floating interest rates. To hedge interest rate risk, two of the Group’s subsidiaries have entered into interest rate swaps with a total notional amount of €22.6 million, fixing the floating interest rate (1-month EURIBOR) at 1.995% and 2.2%.
The interest coverage ratio (ICR) of the Fund’s loans was 4.3 as at 30.09.2026 (9 months of 2025: 3.9).
Share information
The registered share capital of EfTEN Real Estate Fund AS as at 30.09.2026 was €117,223 thousand (31.12.2025: €115,248 thousand). The share capital consisted of 11,722,309 shares (31.12.2025: 11,524,846 shares) with a nominal value of €10 (31.12.2025: the same).
In August 2026, the Fund carried out a directed share issue in which 197,463 new shares were issued at €19.26 per share, comprising a nominal value of €10 and a share premium of €9.26. The issue raised a total of €3,803 thousand, increasing the Fund’s share capital by €1,975 thousand and share premium by €1,828 thousand.
After the reporting date, in October 2026, the Fund carried out a new share issue in which 26,797 new shares with a nominal value of €10 were issued. Following the registration of the share capital increase in the Commercial Register, the Fund’s share capital will be €117,491 thousand and the number of shares 11,749,106.
The net asset value (NAV) per share of EfTEN Real Estate Fund AS was €20.41 as at 30.09.2026 (31.12.2025: €20.32). The NAV per share of EfTEN Real Estate Fund AS increased by 0.4% in 9 months of 2026. In April 2026, the Fund paid net dividends of €1.20 per share, totalling €13.8 million. Without the dividend distribution, the Fund’s NAV would have increased by 6.3%.
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
| Q3 | 9 months | |||
| 2026 | 2025 | 2026 | 2025 | |
| € thousand | ||||
| Sales income | 9,117 | 8,359 | 26,083 | 24,427 |
| Cost of services sold | -383 | -383 | -1,135 | -1,278 |
| Gross profit | 8,734 | 7,976 | 24,948 | 23,149 |
| Marketing costs | -223 | -143 | -670 | -471 |
| Administrative expenses | -1,008 | -897 | -2,980 | -2,844 |
| Profit / loss from change in fair value of investment property | 0 | 0 | -52 | 546 |
| Other operating income and expenses | 52 | 41 | 130 | 19 |
| Operating profit | 7,555 | 6,977 | 21,376 | 20,399 |
| Profit from joint venture | 160 | 138 | 112 | 167 |
| Loss on sale of subsidiary | 0 | 0 | -286 | 0 |
| Interest income | 58 | 22 | 173 | 140 |
| Other finance income and costs | -1,376 | -1,630 | -4,520 | -5,172 |
| Profit before income tax | 6,397 | 5,507 | 16,855 | 15,534 |
| Income tax expense | -290 | -256 | -1,837 | -2,091 |
| Net profit for the reporting period | 6,107 | 5,251 | 15,018 | 13,443 |
| Total comprehensive income for the reporting period | 6,107 | 5,251 | 15,018 | 13,443 |
| Earnings per share (in euros) | ||||
| – basic | 0.53 | 0.46 | 1.30 | 1.18 |
| – diluted | 0.53 | 0.46 | 1.30 | 1.18 |
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
| 30.09.2026 | 31.12.2025 | |
| € thousand | ||
| ASSETS | ||
| Cash and cash equivalents | 19,360 | 19,957 |
| Short-term deposits | 0 | 320 |
| Derivative financial instruments | 484 | 13 |
| Receivables and accrued income | 1,560 | 1,697 |
| Prepaid expenses | 238 | 293 |
| Inventories | 6 | 0 |
| Total current assets | 21,648 | 22,280 |
| Long-term receivables | 99 | 164 |
| Investments in joint ventures | 2,294 | 2,182 |
| Investment property | 400,351 | 381,032 |
| Property, plant and equipment | 152 | 193 |
| Total non-current assets | 402,896 | 383,571 |
| TOTAL ASSETS | 424,544 | 405,851 |
| LIABILITIES AND EQUITY | ||
| Borrowings | 65,690 | 42,261 |
| Derivative financial instruments | 0 | 6 |
| Payables and prepayments | 7,619 | 2,913 |
| Total current liabilities | 73,309 | 45,180 |
| Borrowings | 97,736 | 111,727 |
| Other long-term payables | 2,136 | 1,992 |
| Deferred income tax liability | 12,168 | 12,748 |
| Total non-current liabilities | 112,040 | 126,467 |
| TOTAL LIABILITIES | 185,349 | 171,647 |
| Share capital | 117,223 | 115,248 |
| Share premium | 92,904 | 91,076 |
| Statutory reserve capital | 5,380 | 4,156 |
| Retained earnings | 23,688 | 23,724 |
| TOTAL EQUITY | 239,195 | 234,204 |
| TOTAL LIABILITIES AND EQUITY | 424,544 | 405,851 |
Marilin Hein
CFO
Phone +372 6559 515
E-mail: marilin.hein@eften.ee
Attachment
Fund manager’s commentary
In Q3 2026, EfTEN Real Estate Fund AS focused on integrating the Magistral shopping centre, acquired in June, completing the reconstruction of Nõmme Südamekodu and maintaining the occupancy of its existing real estate portfolio. In August, the Fund carried out a directed share issue in which 197,463 new shares were issued at €19.26 per share, i.e. at the 60-day average closing price of the share preceding the decision to increase the share capital. The issue raised €3.8 million, which the Fund used to repay the €4 million fund-level loan taken out to acquire Magistral Kaubanduskeskuse OÜ.
The Fund’s consolidated EBITDA for 9 months was €21.4 million, 7.5% higher than a year earlier. More than half of the increase, i.e. €786 thousand, came from the Magistral shopping centre. Like-for-like EBITDA increased by €788 thousand, or 4.2%.
In Q3, the Lidl lease at the Piepilsetas logistics centre was terminated early and several leases at the Betooni 6 logistics centre also expired, as a result of which portfolio vacancy temporarily increased to 3.0% in August. Following new lease agreements, vacancy fell to 2.2% by the end of September, its lowest level in the last three years. In the care home segment, rental income from Nõmme and Tartu Südamekodu increased as a result of investments made in Q3.
Due to the increase in EURIBOR, the weighted average interest rate of the Group’s borrowings increased to 4.36% by the end of September (31.12.2025: 3.99%). Interest expense for Q3 was 14% higher than a year earlier, mainly due to the addition of the Magistral centre and Nõmme Südamekodu loan agreements, but also as a result of loan refinancing. For the 9-month period, however, interest expense remained 2.1% below the previous year’s level, and the interest coverage ratio (ICR) was 4.3 (9 months of 2025: 3.9). The Fund’s two interest rate swaps, which fix 1-month EURIBOR at 1.995% and 2.2%, had a positive fair value totalling €484 thousand at the end of September.
The Fund’s adjusted cash flow for 9 months was €11.0 million, 15.6% higher than in the same period of the previous year, and the Fund has generated a potential gross dividend of 75.20 cents per share for investors (9 months of 2025: 66.66 cents).
The Fund’s net asset value (NAV) per share was €20.41 and EPRA NRV €21.29 as at 30.09.2026.
Overview of financial results
The consolidated sales income of EfTEN Real Estate Fund AS for Q3 2026 was €9.117 million (Q3 2025: €8.359 million) and consolidated sales income for 9 months was €26.083 million (9 months of 2025: €24.427 million). Sales income for Q3 increased by 9.1% and sales income for 9 months by 6.8% compared with the same period of the previous year. The increase in sales income was supported by new investments in the logistics, retail and care home sectors.
The Fund’s consolidated net operating income (NOI) for 9 months of 2026 totalled €24.278 million (2025: €22.678 million), an increase of 7.1% compared with the same period of the previous year. The 9-month NOI margin was 96% in 2026 (2025: 96%), meaning that costs directly related to property management (incl. land tax, insurance, maintenance and improvement works) and marketing costs accounted for 4% (2025: 4%) of the Fund’s consolidated rental income.
In 9 months of 2026, the Fund earned a consolidated net profit of €15.018 million, 11.7% more than in the same period of the previous year. In 9 months of 2026, the Group generated adjusted cash flow (EBITDA less interest expense, loan principal repayments and income tax expense) totalling approximately €11.0 million, an increase of 15.6% compared with the same period of the previous year due to the higher level of EBITDA and lower interest expense. The Group’s total assets amounted to €424.544 million as at 30.09.2026 (31.12.2025: €405.851 million), of which the fair value of investment property accounted for 94% (31.12.2025: 94%).
Real estate portfolio
As at 30.09.2026, the Group held 36 (31.12.2025: 37) commercial investment properties with a fair value of €400.351 million at the reporting date (31.12.2025: €381.032 million) and an acquisition cost of €399.844 million (31.12.2025: €381.235 million). In addition to the above investment properties, the Group’s 50% joint venture EfTEN SPV11 OÜ owns Hotel Palace in Tallinn, the fair value of which was €8.565 million as at 30.09.2026 (31.12.2025: €8.680 million).
In 9 months of 2026, investment property in the logistics segment decreased by €9.000 million due to the sale of the DSV logistics centre in Riga, and investment property in the office segment decreased by €8.100 million due to the sale of the Menulio 11 building in Vilnius. Investment property in the retail segment increased by €31.690 million due to the acquisition of the Magistral shopping centre in Tallinn.
Investments in 9 months of 2026
In June 2026, the Group acquired a 100% interest in Magistral Kaubanduskeskuse OÜ for €12.9 million. The company owns the Magistral shopping centre at Sõpruse pst 201/203, Tallinn, the fair value of which was €31.7 million on acquisition.
In 9 months of 2026, the Group invested a total of €4.781 million in its existing real estate portfolio, including the completion of the reconstruction of the Nõmme care home, in which €2.4 million was invested in 9 months.
Sales in 9 months of 2026
In March 2026, the Group sold its 100% interest in the subsidiary EfTEN Krustpils SIA, which owned the DSV logistics centre in Riga. The Group acquired the DSV logistics centre in June 2016 and the Fund earned an internal rate of return (IRR) of approximately 10% on the project. In April 2026, the Fund’s subsidiary EfTEN Menulio UAB sold the office building it owned at Menulio 11, Vilnius. The sale price of the investment property was €571 thousand higher than its carrying amount. After repayment of the borrowings taken out to acquire Menulio 11 and settlement of other liabilities, the Fund received €5.3 million.
In April 2026, the Fund’s subsidiary EfTEN SPV7 OÜ sold the property located at A.H. Tammsaare tee 116a, Tallinn, to Ignitis Eesti OÜ. EfTEN SPV7 OÜ earned a profit of €225 thousand on the transaction.
Rental income
In 9 months of 2026, the Group earned a total of €25.175 million in rental income, 6% more than in the same period of 2025.
The vacancy rate of the Group’s investment property portfolio was 2.2% as at 30.09.2026 (31.12.2025: 3.2%). Vacancy in the office segment decreased over 9 months – from 14.4% at the end of 2025 to 7.5% at the end of September 2026. The sale of the Menulio 11 office building, where vacant premises accounted for 46%, contributed significantly to the decrease in office segment vacancy.
Financing
In 9 months of 2026, eight subsidiaries of EfTEN Real Estate Fund AS extended their bank loan agreements in a total amount of €31.6 million. The loan agreements of twelve of the Group’s subsidiaries, with a total outstanding balance of €61.236 million as at 30.09.2026, will mature within the next 12 months. The LTV (loan-to-value) of the maturing loan agreements is 28%–59% and the investment properties generate stable rental cash flow; therefore, management believes there will be no obstacles to extending the loan agreements.
Owing to their improved financial capacity, the subsidiaries of EfTEN Real Estate Fund AS increased their bank loans by a total of €3.7 million in April 2026. In addition, construction works at the Nõmme care home were financed with bank loans totalling €2.9 million in 9 months of 2026.
In June 2026, EfTEN Real Estate Fund AS entered into a loan agreement of €4 million maturing on 01.06.2027 to finance the acquisition of Magistral Kaubanduskeskuse OÜ. The loan was repaid to the bank ahead of schedule on 25.09.2026 from the proceeds of the directed share issue carried out in August.
The weighted average interest rate of the Group’s loan agreements (taking into account the interest rate swaps) was 4.36% as at 30.09.2026 (31.12.2025: 3.99%) and the LTV (loan-to-value) was 41% (31.12.2025: 41%). All of the Fund’s loan agreements carry floating interest rates. To hedge interest rate risk, two of the Group’s subsidiaries have entered into interest rate swaps with a total notional amount of €22.6 million, fixing the floating interest rate (1-month EURIBOR) at 1.995% and 2.2%.
The interest coverage ratio (ICR) of the Fund’s loans was 4.3 as at 30.09.2026 (9 months of 2025: 3.9).
Share information
The registered share capital of EfTEN Real Estate Fund AS as at 30.09.2026 was €117,223 thousand (31.12.2025: €115,248 thousand). The share capital consisted of 11,722,309 shares (31.12.2025: 11,524,846 shares) with a nominal value of €10 (31.12.2025: the same).
In August 2026, the Fund carried out a directed share issue in which 197,463 new shares were issued at €19.26 per share, comprising a nominal value of €10 and a share premium of €9.26. The issue raised a total of €3,803 thousand, increasing the Fund’s share capital by €1,975 thousand and share premium by €1,828 thousand.
After the reporting date, in October 2026, the Fund carried out a new share issue in which 26,797 new shares with a nominal value of €10 were issued. Following the registration of the share capital increase in the Commercial Register, the Fund’s share capital will be €117,491 thousand and the number of shares 11,749,106.
The net asset value (NAV) per share of EfTEN Real Estate Fund AS was €20.41 as at 30.09.2026 (31.12.2025: €20.32). The NAV per share of EfTEN Real Estate Fund AS increased by 0.4% in 9 months of 2026. In April 2026, the Fund paid net dividends of €1.20 per share, totalling €13.8 million. Without the dividend distribution, the Fund’s NAV would have increased by 6.3%.
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
| Q3 | 9 months | |||
| 2026 | 2025 | 2026 | 2025 | |
| € thousand | ||||
| Sales income | 9,117 | 8,359 | 26,083 | 24,427 |
| Cost of services sold | -383 | -383 | -1,135 | -1,278 |
| Gross profit | 8,734 | 7,976 | 24,948 | 23,149 |
| Marketing costs | -223 | -143 | -670 | -471 |
| Administrative expenses | -1,008 | -897 | -2,980 | -2,844 |
| Profit / loss from change in fair value of investment property | 0 | 0 | -52 | 546 |
| Other operating income and expenses | 52 | 41 | 130 | 19 |
| Operating profit | 7,555 | 6,977 | 21,376 | 20,399 |
| Profit from joint venture | 160 | 138 | 112 | 167 |
| Loss on sale of subsidiary | 0 | 0 | -286 | 0 |
| Interest income | 58 | 22 | 173 | 140 |
| Other finance income and costs | -1,376 | -1,630 | -4,520 | -5,172 |
| Profit before income tax | 6,397 | 5,507 | 16,855 | 15,534 |
| Income tax expense | -290 | -256 | -1,837 | -2,091 |
| Net profit for the reporting period | 6,107 | 5,251 | 15,018 | 13,443 |
| Total comprehensive income for the reporting period | 6,107 | 5,251 | 15,018 | 13,443 |
| Earnings per share (in euros) | ||||
| – basic | 0.53 | 0.46 | 1.30 | 1.18 |
| – diluted | 0.53 | 0.46 | 1.30 | 1.18 |
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
| 30.09.2026 | 31.12.2025 | |
| € thousand | ||
| ASSETS | ||
| Cash and cash equivalents | 19,360 | 19,957 |
| Short-term deposits | 0 | 320 |
| Derivative financial instruments | 484 | 13 |
| Receivables and accrued income | 1,560 | 1,697 |
| Prepaid expenses | 238 | 293 |
| Inventories | 6 | 0 |
| Total current assets | 21,648 | 22,280 |
| Long-term receivables | 99 | 164 |
| Investments in joint ventures | 2,294 | 2,182 |
| Investment property | 400,351 | 381,032 |
| Property, plant and equipment | 152 | 193 |
| Total non-current assets | 402,896 | 383,571 |
| TOTAL ASSETS | 424,544 | 405,851 |
| LIABILITIES AND EQUITY | ||
| Borrowings | 65,690 | 42,261 |
| Derivative financial instruments | 0 | 6 |
| Payables and prepayments | 7,619 | 2,913 |
| Total current liabilities | 73,309 | 45,180 |
| Borrowings | 97,736 | 111,727 |
| Other long-term payables | 2,136 | 1,992 |
| Deferred income tax liability | 12,168 | 12,748 |
| Total non-current liabilities | 112,040 | 126,467 |
| TOTAL LIABILITIES | 185,349 | 171,647 |
| Share capital | 117,223 | 115,248 |
| Share premium | 92,904 | 91,076 |
| Statutory reserve capital | 5,380 | 4,156 |
| Retained earnings | 23,688 | 23,724 |
| TOTAL EQUITY | 239,195 | 234,204 |
| TOTAL LIABILITIES AND EQUITY | 424,544 | 405,851 |
Marilin Hein
CFO
Phone +372 6559 515
E-mail: marilin.hein@eften.ee
Attachment
(Oslo, Norway, 29 October 2026) – Statkraft delivered strong results in the third quarter of 2026 due to significantly higher power prices, while power generation was 7 per cent lower. Profit before tax increased to NOK 5.9 billion from NOK 0.9 billion. Statkraft further improved its financial position and continued to strengthen its core businesses.
Key figures third quarter 2026
- Power generation: 14.7 TWh (15.8 TWh) The 1.1 TWh reduction comprised a 1.4 TWh decrease in Norway, reflecting 13 per cent lower power generation, partly offset by a 0.3 TWh increase outside Norway.
- Underlying EBITDA: NOK 5.2 billion (NOK 3.1 billion), mainly driven by significantly higher Nordic power prices.
- Profit before tax: NOK 5.9 billion (NOK 0.9 billion), impacted by positive currency effects and reversal of impairments.
- Net profit: NOK 3.5 billion (NOK -0.7 billion).
“Statkraft delivered strong results in the third quarter, driven mainly by high Nordic power prices and strong contributions from International and Markets. Our flexible hydropower assets and market capabilities again demonstrated their value as key elements in our strategy to strengthen our core and competitiveness,” says Birgitte Ringstad Vartdal, President and CEO of Statkraft.
Progress on execution
Statkraft continued to develop its core businesses in the third quarter, directing capital towards the areas where the company has competitive advantages and the strongest opportunities for value creation.
By the end of the third quarter of 2026, Statkraft had made investment decisions amounting to 765 MW of new renewable capacity, including a solar project and a wind project in the UK, and a battery energy storage facility in Spain during the quarter.
The company submitted the consent application for the Høyanger hydropower plant in Norway and received the government’s permit for the Hästliden wind power project in Sweden.
“Norway needs to accelerate power and grid development. Since 2021, Norway has added just 1 GW of new generation capacity, compared with 10 GW in Sweden. The volume of new long-term power agreements signed with Norwegian industry this year demonstrates the continued demand for predictable and competitively priced power. The government’s ambition to simplify permitting is therefore a positive step. Faster and more predictable development of both power generation and grid infrastructure will be important to meet growing electricity demand and maintain Norway’s industrial competitiveness,” Vartdal says.
Segment performance in the quarter
Nordics continued to be the main contributor in the quarter, with improved results as power prices were significantly higher in most price areas, partly offset by lower hydropower generation in Norway due to the tight hydrological situation.
Europe’s results were positively impacted by higher power generation and higher net operating revenues as well as lower operating expenses, but this was more than offset by negative hedging effects and development costs for maturing the project pipeline.
International’s contribution increased, the strong results were impacted by a positive supplier dispute settlement.
Markets’ contribution increased driven by strong performance from both trading and origination activities.
Financial development
A net impairment reversal of NOK 0.9 billion was recognised in the period, mainly reflecting a reversal of NOK 1.2 billion for the Los Lagos hydropower project in Chile, partly offset by impairments of the Torsa wind project in Chile.
Profit before tax for the third quarter was NOK 5.9 billion (NOK 0.9 billion), driven by higher power prices and strong results in Nordics, reversal of impairments and positive currency effects.
For the quarter, the net profit was NOK 3.5 billion (loss of NOK 0.7 billion). The effective tax rate for the quarter was 40 percent.
Return on average capital employed (ROACE) was 15.5 per cent, up from 9.9 at the end of the third quarter 2025.
Statkraft ended the quarter with a net interest-bearing debt of NOK 37.0 billion, a decrease of NOK 2.2 billion from the end of the second quarter, and a decrease of NOK 3.3 billion compared to year-end 2025, despite significant tax and dividend payments. The reduction reflects strong cash generation and continued disciplined capital allocation.
Outlook
Supported by a stronger balance sheet and improved competitiveness, Statkraft is better positioned to navigate an increasingly complex market environment. Energy markets remain volatile, driven by geopolitical tensions, including disruptions in the Strait of Hormuz, and a tight hydrological balance in the Nordic region. At the same time, competition for the most attractive renewable development opportunities remains strong. Against this backdrop, Statkraft will continue to prioritise capital discipline and focus on projects with the greatest long-term value potential.
For further information, please contact:
Debt Capital Markets:
- Vice President Stephan Skaane, tel: +47 905 13 652, e-mail: stephan.skaane@statkraft.com
- Senior Financial Advisor Arild Ratikainen, tel: +47 971 74 132, e-mail: arild.ratikainen@statkraft.com
Media:
- Corporate Media Relations Lead Lars Magnus Günther, tel: +47 912 41 636, e-mail: lars.gunther@statkraft.com
- Vice President External Communications Torbjørn Steen, tel: +47 911 66 888, e-mail: torbjorn.steen@statkraft.com
or www.statkraft.com
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
About Statkraft
Statkraft is a leading company in hydropower internationally and Europe’s largest generator of renewable energy. The Group produces hydropower, wind power, solar power, and gas-fired power. Statkraft is a global company in energy market operations. Statkraft has around 6,000 employees in 20 countries.
Attachments
(Oslo, Norway, 29 October 2026) – Statkraft delivered strong results in the third quarter of 2026 due to significantly higher power prices, while power generation was 7 per cent lower. Profit before tax increased to NOK 5.9 billion from NOK 0.9 billion. Statkraft further improved its financial position and continued to strengthen its core businesses.
Key figures third quarter 2026
- Power generation: 14.7 TWh (15.8 TWh) The 1.1 TWh reduction comprised a 1.4 TWh decrease in Norway, reflecting 13 per cent lower power generation, partly offset by a 0.3 TWh increase outside Norway.
- Underlying EBITDA: NOK 5.2 billion (NOK 3.1 billion), mainly driven by significantly higher Nordic power prices.
- Profit before tax: NOK 5.9 billion (NOK 0.9 billion), impacted by positive currency effects and reversal of impairments.
- Net profit: NOK 3.5 billion (NOK -0.7 billion).
“Statkraft delivered strong results in the third quarter, driven mainly by high Nordic power prices and strong contributions from International and Markets. Our flexible hydropower assets and market capabilities again demonstrated their value as key elements in our strategy to strengthen our core and competitiveness,” says Birgitte Ringstad Vartdal, President and CEO of Statkraft.
Progress on execution
Statkraft continued to develop its core businesses in the third quarter, directing capital towards the areas where the company has competitive advantages and the strongest opportunities for value creation.
By the end of the third quarter of 2026, Statkraft had made investment decisions amounting to 765 MW of new renewable capacity, including a solar project and a wind project in the UK, and a battery energy storage facility in Spain during the quarter.
The company submitted the consent application for the Høyanger hydropower plant in Norway and received the government’s permit for the Hästliden wind power project in Sweden.
“Norway needs to accelerate power and grid development. Since 2021, Norway has added just 1 GW of new generation capacity, compared with 10 GW in Sweden. The volume of new long-term power agreements signed with Norwegian industry this year demonstrates the continued demand for predictable and competitively priced power. The government’s ambition to simplify permitting is therefore a positive step. Faster and more predictable development of both power generation and grid infrastructure will be important to meet growing electricity demand and maintain Norway’s industrial competitiveness,” Vartdal says.
Segment performance in the quarter
Nordics continued to be the main contributor in the quarter, with improved results as power prices were significantly higher in most price areas, partly offset by lower hydropower generation in Norway due to the tight hydrological situation.
Europe’s results were positively impacted by higher power generation and higher net operating revenues as well as lower operating expenses, but this was more than offset by negative hedging effects and development costs for maturing the project pipeline.
International’s contribution increased, the strong results were impacted by a positive supplier dispute settlement.
Markets’ contribution increased driven by strong performance from both trading and origination activities.
Financial development
A net impairment reversal of NOK 0.9 billion was recognised in the period, mainly reflecting a reversal of NOK 1.2 billion for the Los Lagos hydropower project in Chile, partly offset by impairments of the Torsa wind project in Chile.
Profit before tax for the third quarter was NOK 5.9 billion (NOK 0.9 billion), driven by higher power prices and strong results in Nordics, reversal of impairments and positive currency effects.
For the quarter, the net profit was NOK 3.5 billion (loss of NOK 0.7 billion). The effective tax rate for the quarter was 40 percent.
Return on average capital employed (ROACE) was 15.5 per cent, up from 9.9 at the end of the third quarter 2025.
Statkraft ended the quarter with a net interest-bearing debt of NOK 37.0 billion, a decrease of NOK 2.2 billion from the end of the second quarter, and a decrease of NOK 3.3 billion compared to year-end 2025, despite significant tax and dividend payments. The reduction reflects strong cash generation and continued disciplined capital allocation.
Outlook
Supported by a stronger balance sheet and improved competitiveness, Statkraft is better positioned to navigate an increasingly complex market environment. Energy markets remain volatile, driven by geopolitical tensions, including disruptions in the Strait of Hormuz, and a tight hydrological balance in the Nordic region. At the same time, competition for the most attractive renewable development opportunities remains strong. Against this backdrop, Statkraft will continue to prioritise capital discipline and focus on projects with the greatest long-term value potential.
For further information, please contact:
Debt Capital Markets:
- Vice President Stephan Skaane, tel: +47 905 13 652, e-mail: stephan.skaane@statkraft.com
- Senior Financial Advisor Arild Ratikainen, tel: +47 971 74 132, e-mail: arild.ratikainen@statkraft.com
Media:
- Corporate Media Relations Lead Lars Magnus Günther, tel: +47 912 41 636, e-mail: lars.gunther@statkraft.com
- Vice President External Communications Torbjørn Steen, tel: +47 911 66 888, e-mail: torbjorn.steen@statkraft.com
or www.statkraft.com
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
About Statkraft
Statkraft is a leading company in hydropower internationally and Europe’s largest generator of renewable energy. The Group produces hydropower, wind power, solar power, and gas-fired power. Statkraft is a global company in energy market operations. Statkraft has around 6,000 employees in 20 countries.
Attachments
Oslo, 29 October 2026 – DNO ASA, the Norwegian oil and gas operator, today announced that an appraisal well at the Afrodite gas-condensate discovery has more than doubled estimated recoverable resources to 77–180 million barrels of oil equivalent (MMboe). Also this week, DNO and its license partners approved the development of last year’s Kjøttkake discovery, with first oil scheduled in 2028.
Drilled in the Norwegian North Sea license PL293, the Afrodite well confirmed deeper hydrocarbon presence and improved the understanding of reservoir distribution across the structure. The license partnership, in which DNO holds 10 percent interest, will study development alternatives for the high-pressure, high-temperature discovery in tight reservoir rocks. The most likely development option includes extensive reservoir stimulation and a 30-kilometer tie-back to the Kvitebjørn hub, in which DNO holds 19 percent.
DNO acquired its stake in Afrodite as part of a multi-asset swap agreed with Equinor Energy AS in March this year that strengthened its position around Kvitebjørn, establishing it as a new core area for the Company. Importantly, the deal also secured DNO 19 percent in the nearby Atlantis discovery, a Kvitebjørn tie-back candidate approaching final investment decision.
“Kvitebjørn is shaping up to be a hotspot for tie-back developments offshore Norway and DNO moved quickly to position itself in the hub and surrounding discoveries,” said DNO Executive Chairman Bijan Mossavar-Rahmani. “We knew Afrodite would be a tough rock to crack, but these volumes make the rock worth fracking.”
Also in the Kvitebjørn area, DNO holds a 30 percent stake in the Carmen discovery, which was appraised in June this year. The appraisal well placed recoverable resources at Carmen at an estimated 21–107 MMboe in tight reservoirs that, like Afrodite, will likely benefit from hydraulic fracturing.
Meanwhile, in DNO’s adjacent Gjøa core area, the Kjøttkake discovery, in which the Company holds a 40 percent interest, will be fast-tracked as a three-well subsea completion tied back to the Gjøa platform. Kjøttkake, which holds an estimated 37 MMboe of recoverable resources, is expected to be brought on production by the first half of 2028, only three years after discovery. The development will be operated by Aker BP (45 percent) by arrangement, with operatorship to revert to DNO after first oil.
Kjøttkake will deliver gross production of some 20,000 barrels of oil equivalent per day at plateau. Together with four other tie-back projects in the Gjøa area, the field will add to DNO’s production at what has become the Company’s largest production hub offshore Norway.
–
For further information, please contact:
Media: media@dno.no
Investors: investor.relations@dno.no
–
DNO ASA is a Norwegian oil and gas operator active in the North Sea and the Middle East. Founded in 1971, DNO is Norway’s oldest oil company and the first to list on the Oslo Stock Exchange in 1981. The Company holds stakes in onshore and offshore licenses at various stages of exploration, development and production in Norway, the Kurdistan region of Iraq, the United Kingdom and Yemen. More information is available at www.dno.no.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Oslo, 29 October 2026 – DNO ASA, the Norwegian oil and gas operator, today announced that an appraisal well at the Afrodite gas-condensate discovery has more than doubled estimated recoverable resources to 77–180 million barrels of oil equivalent (MMboe). Also this week, DNO and its license partners approved the development of last year’s Kjøttkake discovery, with first oil scheduled in 2028.
Drilled in the Norwegian North Sea license PL293, the Afrodite well confirmed deeper hydrocarbon presence and improved the understanding of reservoir distribution across the structure. The license partnership, in which DNO holds 10 percent interest, will study development alternatives for the high-pressure, high-temperature discovery in tight reservoir rocks. The most likely development option includes extensive reservoir stimulation and a 30-kilometer tie-back to the Kvitebjørn hub, in which DNO holds 19 percent.
DNO acquired its stake in Afrodite as part of a multi-asset swap agreed with Equinor Energy AS in March this year that strengthened its position around Kvitebjørn, establishing it as a new core area for the Company. Importantly, the deal also secured DNO 19 percent in the nearby Atlantis discovery, a Kvitebjørn tie-back candidate approaching final investment decision.
“Kvitebjørn is shaping up to be a hotspot for tie-back developments offshore Norway and DNO moved quickly to position itself in the hub and surrounding discoveries,” said DNO Executive Chairman Bijan Mossavar-Rahmani. “We knew Afrodite would be a tough rock to crack, but these volumes make the rock worth fracking.”
Also in the Kvitebjørn area, DNO holds a 30 percent stake in the Carmen discovery, which was appraised in June this year. The appraisal well placed recoverable resources at Carmen at an estimated 21–107 MMboe in tight reservoirs that, like Afrodite, will likely benefit from hydraulic fracturing.
Meanwhile, in DNO’s adjacent Gjøa core area, the Kjøttkake discovery, in which the Company holds a 40 percent interest, will be fast-tracked as a three-well subsea completion tied back to the Gjøa platform. Kjøttkake, which holds an estimated 37 MMboe of recoverable resources, is expected to be brought on production by the first half of 2028, only three years after discovery. The development will be operated by Aker BP (45 percent) by arrangement, with operatorship to revert to DNO after first oil.
Kjøttkake will deliver gross production of some 20,000 barrels of oil equivalent per day at plateau. Together with four other tie-back projects in the Gjøa area, the field will add to DNO’s production at what has become the Company’s largest production hub offshore Norway.
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For further information, please contact:
Media: media@dno.no
Investors: investor.relations@dno.no
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DNO ASA is a Norwegian oil and gas operator active in the North Sea and the Middle East. Founded in 1971, DNO is Norway’s oldest oil company and the first to list on the Oslo Stock Exchange in 1981. The Company holds stakes in onshore and offshore licenses at various stages of exploration, development and production in Norway, the Kurdistan region of Iraq, the United Kingdom and Yemen. More information is available at www.dno.no.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Ad hoc announcement pursuant to Art. 53 LR
QUVIVIQ™ (daridorexant) sales reached CHF 142 million in the first nine months of 2026, with growth accelerating quarter-on-quarter. Idorsia reaffirms its full-year 2026 guidance and remains focused on further accelerating growth, maximizing the commercial opportunity of QUVIVIQ, and preparing the launch of TRYVIO/JERAYGO under the new leadership of CEO Roland Wandeler.
Allschwil, Switzerland – October 29, 2026
Idorsia Ltd (SIX: IDIA) is a commercial-stage biopharmaceutical company with two products, each with blockbuster potential, and a differentiated portfolio of first- or best-in-class therapies. The company today announced its financial results for the first nine months of 2026.
Roland Wandeler, CEO of Idorsia, commented:
“My first month at Idorsia has reinforced my belief that we have the assets, strategy and people to create substantial value. We have two products with blockbuster potential, a focused strategy, and a team fully committed to execution. Accelerating QUVIVIQ growth is our number one priority, and I see multiple opportunities to expand its reach and impact. Our recent pediatric insomnia findings, including the opportunity in children with autism spectrum disorder, reinforce my belief that we are only beginning to unlock the full potential of daridorexant. At the same time, we have identified a focused and capital-efficient pathway to realize the significant potential of TRYVIO/JERAYGO. With two products that each have blockbuster potential, we are entering a period where disciplined execution can translate innovation into substantial value for patients and shareholders.”
Maximize the current QUVIVIQ® opportunity in insomnia
QUVIVIQ continues to benefit from five reinforcing growth drivers: accelerating demand, expanding geographic reach, broader patient access, increasing penetration into primary care, and multiple lifecycle expansion opportunities. Together, these drivers contributed to net sales growth of 54% to CHF 142 million in the first nine months of 2026 (9M 2025: CHF 92 million) across North America and Europe.
Key developments during the third quarter included:
- The DEA proposed reclassifying the dual orexin receptor antagonist (DORA) class, including QUVIVIQ, from Schedule IV to the least restrictive Schedule V. Given the importance of access to this safe and effective class of products, Idorsia does not oppose the proposed rule and continues to urge the DEA to issue a Final Rule. Idorsia also continues to believe that DORAs no longer meet the criteria for scheduling under the Controlled Substances Act and should ultimately be removed from scheduling altogether.
- Dari-Dream (press release), a US label-enabling study designed to support the inclusion of daytime functioning in the US prescribing information, enrolled its first patient.
- Outstanding results from the first and only Phase 2 study of a dual orexin receptor antagonist in children and adolescents with insomnia disorder were presented at Sleep Europe 2026 (press release | presentation).
Together, these developments reinforce our conviction that we are only beginning to unlock the full commercial and clinical potential of daridorexant.
Unlock the value of TRYVIO™ / JERAYGO™ (aprocitentan)
TRYVIO/JERAYGO continues to demonstrate the characteristics of a significant commercial opportunity, supported by growing physician awareness of the unmet need in difficult-to-control and resistant hypertension, a differentiated efficacy and tolerability profile, and emerging real-world experience. During the quarter, new data presented at AHA Hypertension 2026 and ASN Kidney Week further reinforced the product’s potential across high-risk patient populations (press release). In parallel, Idorsia and SPV investors announced a proposed commercialization partnership to unlock the blockbuster potential of TRYVIO/JERAYGO through a focused specialist-led launch strategy. The proposed combination of dedicated launch capital and participation in future product revenues would create a focused and capital-efficient pathway to realize the product’s commercial potential. This approach also enables shareholders to participate more directly in the value created by the asset (press release).
Expand the long-term value of daridorexant
In a Phase 2 pediatric insomnia study, daridorexant not only improved sleep but also showed unexpected improvements in affect and behavior, cognition, and daily functioning in children with ASD or ASD-like characteristics. Supported by these findings, internal research, and external scientific evidence, Idorsia plans to initiate a dedicated development program in ASD, opening up a new scientific avenue for daridorexant (press release). Further details will be presented in H1 2027 following regulatory discussions.
Advance innovation and the pipeline
While commercial execution remains the company’s primary focus, Idorsia continued to advance a selective portfolio of future growth opportunities during the quarter. Highlights included the initiation of the pivotal Phase 3 FAB-KLEAR study of lucerastat in Fabry disease, as well as the signing of a co-development and commercialization agreement with Nxera Pharma covering Japan and selected Asia-Pacific markets (press release). The company also continued progress across first-in-class immunology and neuroscience programs while demonstrating disciplined capital allocation by discontinuing the CCR6 program after the results did not live up to expectations and reallocating resources toward higher-priority opportunities.
Arno Groenewoud, Chief Financial Officer of Idorsia, commented:
“Our financial performance in the first nine months of 2026 was in line with our expectations, reflecting continued growth of QUVIVIQ and disciplined management of our operating expenses. Based on our year-to-date performance and outlook for the remainder of the year, we confirm our full-year 2026 guidance with an improvement of the US GAAP operating loss. We remain in a strong liquidity position, with QUVIVIQ’s commercial business profitable, enabling us to invest today in the growth of tomorrow.”
Financial highlights for 9M 2026
- QUVIVIQ sales: CHF 142 million (excluding sales to partners)
- Non-GAAP contract revenues: CHF 12 million
- Non-GAAP operating expenses: CHF 251 million
- Non-GAAP operating loss: CHF 85 million (US GAAP: CHF 99 million)
- Strong liquidity profile: Access to liquidity of CHF 185 million, including the remaining CHF 100 million available under the secured term loan with Pharmakon
Financial Guidance
- Full-year 2026 guidance reaffirmed with an improvement of the US GAAP operating loss
- QUVIVIQ sales: CHF 200 million
- Non-GAAP operating expenses: ~CHF 330 million
- Non-GAAP operating loss: ~CHF 120 million
- US GAAP operating loss: ~CHF 140 million (reduced from ~CHF 160 million)
The financial guidance for 2026 reflects continued growth of QUVIVIQ, investment in the lucerastat registration program, and development of the company’s immunology portfolio. TRYVIO/JERAYGO revenues and investments are not included, as these will be considered in any potential partnership agreement. All amounts exclude unforeseen events and any potential upsides from new direct-to-patient distribution models currently being implemented in several geographies and revenue related to additional business development activities.
Financial results nine months 2026
| US GAAP results | Nine Months | Third Quarter | ||
| in CHF millions, except EPS (CHF) and number of shares (millions) | 2026 | 2025 | 2026 | 2025 |
| Net revenue | 172 | 173 | 62 | 41 |
| Operating expenses | (272) | (162) | (98) | (87) |
| Operating income (loss) | (99) | 23 | (36) | (41) |
| Net income (loss) | (206) | (34) | (53) | (86) |
| Basic and diluted EPS | (0.80) | (0.17) | (0.20) | (0.40) |
| Basic and diluted weighted average number of shares | 258.1 | 203.4 | 266.2 | 214.5 |
Net revenue of CHF 172 million in the first nine months of 2026 resulted from product sales (CHF 142 million), product sales to partners (CHF 12 million), and contract revenues (CHF 18 million). This compares to net revenue of CHF 173 million in the first nine months of 2025 as a result of QUVIVIQ product sales (CHF 92 million), product sales to partners (CHF 3 million), and contract revenue (CHF 78 million).
US GAAP operating expenses were CHF 272 million in the first nine months of 2026, with an increase of CHF 20 million compared to the first nine months of 2025 (excluding a one-off gain of CHF 90 million in the first nine months of 2025). Cost of sales of CHF 33 million increased by CHF 21 million due to higher product sales. R&D expenses of CHF 80 million and SG&A expenses of CHF 159 million together remain almost flat.
US GAAP net loss in the first nine months of 2026 of CHF 206 million compared to CHF 34 million in the first nine months of 2025. The increased net loss was primarily driven by the increase of financial expenses of CHF 54 million (mainly non-cash interests on the debt notes, non-cash accretion of the New Money Facility loan, and non-cash debt extinguishment loss), as well as the increase in operating expenses of CHF 110 million, of which CHF 21 million related to cost of sales driven by higher product sales and CHF 90 million relate to a non-recurring one-off gain in 2025.
The US GAAP net loss resulted in a net loss per share of CHF (0.80) (basic and diluted) in the first nine months of 2026, compared to a net loss per share of CHF (0.17) basic and diluted in the first nine months of 2025.
| Non-GAAP* measures | Nine Months | Third Quarter | ||
| in CHF millions, except EPS (CHF) and number of shares (millions) | 2026 | 2025 | 2026 | 2025 |
| Net revenue | 166 | 167 | 61 | 37 |
| Operating expenses | (251) | (232) | (91) | (80) |
| Operating income (loss) | (85) | (53) | (30) | (38) |
| Net income (loss) | (123) | (65) | (44) | (40) |
| Basic and diluted EPS | (0.48) | (0.32) | (0.17) | (0.19) |
| Basic and diluted weighted average number of shares | 258.1 | 203.4 | 266.2 | 214.5 |
* Idorsia measures, reports, and issues guidance on non-GAAP operating performance. Idorsia believes that these non-GAAP financial measurements more accurately reflect the underlying business performance and therefore provide useful supplementary information to investors. These non-GAAP measures are reported in addition to, not as a substitute for, US GAAP financial performance.
Non-GAAP net loss in the first nine months of 2026 amounted to CHF 123 million; the difference versus US GAAP net loss was mainly driven by depreciation and amortization (CHF 11 million), share-based compensation (CHF 9 million), accretion expenses (CHF 16 million), interest expense recognized under the R-Bridge royalty monetization agreement (CHF 6 million) and debt extinguishment loss (CHF 47 million) relating to the repayment of the New Money Facility loan, offset by non-cash revenue recognized under the R-Bridge royalty monetization agreement (CHF 7 million).
The non-GAAP net loss resulted in a net loss per share of CHF 0.48 (basic and diluted) in the first nine months of 2026, compared to a net loss per share of CHF 0.32 (basic and diluted) in the first nine months of 2025.
About the Pharmakon Secured Term Loan
In June 2026, Idorsia entered into a senior secured term loan agreement of up to CHF 250 million with investment funds managed by Pharmakon Advisors, LP, at a fixed 7% interest rate (“Secured Term Loan”). Idorsia received a first tranche of CHF 150 million and partially used it to fully repay the CHF 105 million drawn under the previously existing New Money Facility, plus OID and interests. The transaction removed near-term maturities and strengthened Idorsia’s liquidity profile. Additional tranches may be drawn – subject to customary conditions – providing further financial flexibility to support targeted initiatives to accelerate growth and long‑term value creation.
Liquidity and indebtedness
Liquidity on September 30, 2026, amounted to CHF 85 million. This amount does not include the remaining CHF 100 million available under the secured term loan.
| (in CHF millions*) | Sept 30, 2026 | June 30, 2026 | Dec 31, 2025 |
| Liquidity | |||
| Cash and cash equivalents | 85 | 89 | 89 |
| Total liquidity | 85 | 89 | 89 |
| Indebtedness | |||
| Convertible loan | 250 | 250 | 335 |
| Convertible bonds | 44 | 49 | 49 |
| Debt notes in the SPV** | 783 | 766 | 753 |
| Term loan | 146 | 146 | 18 |
| Other financial debt | 188 | 186 | 187 |
| Total indebtedness | 1,410 | 1,397 | 1,342 |
| Total indebtedness excl. debt notes in the SPV | 627 | 631 | 589 |
* rounding differences may occur
** The debt notes issued by Idorsia Investments SARL (“SPV”) in exchange for convertible bonds are senior secured with the shares in Idorsia Investments SARL. The A Notes only benefit from a limited and subordinated Swiss-law governed guarantee by Idorsia Ltd.
Results Day Center
Investor community: To make your job easier, we provide all relevant documentation, including the financial report, via the Results Day Center on our corporate website: www.idorsia.com/results-day-center.
Events
- Octavian QuickBite Lunch in Zurich on Nov 3, 2026.
- Guggenheim Healthcare Innovation Conference in Boston on Nov 9, 2026.
- Stifel Healthcare Conference in New York on Nov 11, 2026.
- UBS Global Biopharma Conference in London on Nov 16, 2026.
- Jefferies Global Healthcare Conference in London on Nov 17, 2026.
- Evercore Healthcare Conference in Miami on Nov 30, 2026.
- Citi Global Healthcare Conference in Miami on Dec 2, 2026.
- Deutsche Bank C-Suite call series on Dec 10, 2026.
- J.P. Morgan 2027 Healthcare Conference in San Francisco, Jan 11-14, 2027.
- Octavian Seminar in Davos on Jan 15, 2027.
- Full-year 2026 Financial Results reporting on February 25, 2027.
- First quarter 2027 Financial Results reporting on April 29, 2027.
- Annual General Meeting of Shareholders 2027 on May 13, 2027.
Notes to the editor
About Idorsia
The purpose of Idorsia is to discover, develop and commercialize innovative medicines to help more patients. To achieve this, we will develop Idorsia into a leading biopharmaceutical company, with a strong scientific core.
Headquartered near Basel, Switzerland – a European biotech hub – Idorsia has a highly experienced team of dedicated professionals, covering all disciplines from bench to bedside; QUVIVIQ™ (daridorexant), a different kind of insomnia treatment with the potential to revolutionize this mounting public health concern; strong partners to maximize the value of our portfolio; a promising in-house development pipeline; and a specialized drug discovery engine focused on small-molecule drugs that can change the treatment paradigm for many patients. Idorsia is listed on the SIX Swiss Exchange (ticker symbol: IDIA).
For further information, please contact
Kevin Boss
Director, Investor Relations
Idorsia Pharmaceuticals Ltd, Hegenheimermattweg 91, CH-4123 Allschwil
+41 58 844 10 10
investor.relations@idorsia.com – media.relations@idorsia.com – www.idorsia.com
The above information contains certain “forward-looking statements”, relating to the company’s business, which can be identified by the use of forward-looking terminology such as “intend”, “estimates”, “believes”, “expects”, “may”, “are expected to”, “will”, “will continue”, “should”, “would be”, “seeks”, “pending” or “anticipates” or similar expressions, or by discussions of strategy, plans or intentions. Such statements include descriptions of the company’s investment and research and development programs, business development activities and anticipated expenditures in connection therewith, descriptions of new products expected to be introduced by the company and anticipated customer demand for such products and products in the company’s existing portfolio. Such statements reflect the current views of the company with respect to future events and are subject to certain risks, uncertainties and assumptions. Many factors could cause the actual results, performance or achievements of the company to be materially different from any future results, performances or achievements that may be expressed or implied by such forward-looking statements. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated or expected. Idorsia has transferred its rights for aprocitentan, cenerimod and selatogrel to Idorsia Investments SARL to allow the repayment of notes issued in connection with the repurchase offer completed in August 2025. More details on the transfer can be found in the financial report of Idorsia Investments SARL.
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