Solana Company Q4 FY2025 earnings call

Pana Sharma mentioned 2025 was defining year with clinical validation across programs. LP300 Phase II harmonic trial ongoing, LP184 Phase Ia complete, FDA IND clearance for pediatric CNS cancer. LP300 trial had clinical benefit and response rates, upcoming Type C meeting with FDA. LP184 Phase I results showed durable disease control, recommended Phase II dose, planned Phase 1B, 2A dev. Starlight Therapeutics' IND clearance, rare disease designations. Radar AI platform commercial opportunities, AI Center of Excellence in India, Zeta.AI multi-agentic system. David Margrave discussed financial highlights like R&D and G&A expenses, net loss, and cash position

R&D expenses for Q4 2025 were approx $2.7M vs prior year's ~$4.3M. Full-year 2025 R&D was ~$11.5M vs 2024's ~$16.1M, mainly due to ~$4M reduction in research studies/materials for clinical trials. G&A expenses Q4 2025 were ~$1.5M vs prior year's ~$1.6M. Full-year 2025 G&A was ~$6.5M vs 2024's ~$6.1M, with increases in business dev, investor relations, patent costs, etc. Net loss Q4 2025 was ~$4.1M or 36c per share vs prior year's ~$5.9M or 54c per share. Full-year 2025 net loss was ~$17.1M or $1.57 per share vs 2024's ~$20.8M or $1.93 per share. Cash position as of Dec 31, 2025 was ~$10.1M

Upcoming Type C meeting with FDA for LP300 in mid-May 2026. Planned investigator-sponsored trial with LP300 in combo with osimertinib. Initiation of LP184 trial in bladder cancer in Denmark. Planned start of LP184 Phase 1B2 in TNBC and CNS cancers. Major launch of With Zeta platform at AACR, converting beta to commercial partnerships. Pursuing additional funding including grant revenue

Forward-looking statements subject to risks/uncertainties like clinical trial results, competition. Malicious/fake news could manipulate stock price