CTX CAPTOR THERAPEUTICS Giełda Papierów Wartościowych w Warszawie · Quarterly · publ. May 27, 2026

Q1 2026 report

Europejski lider technologii celowanej degradacji bialek (TPD) z piecioma wlasnymi projektami w onkologii i autoimmunologii, w tym viadrudomide w fazie I badan klinicznych.

Sentiment

Neutral No guidance change

Website

CTX Q1 2026 report

Revenue

328 k PLN

— YoY

Net income

-11,375 k PLN

— YoY

EBITDA

-10,363 k PLN

— YoY

FCF

-12,659 k PLN

— YoY

Summary

Investment thesis

Spolka wciaz przedprzychodowa - jedyne przychody to nieregularne platnosci milestone z pojedynczych umow badawczo-licencyjnych (328 tys. zl w Q1 2026 vs 2 606 tys. zl rok wczesniej).
Strata operacyjna stabilna r/r (-11,3 mln zl vs -10,7 mln zl), finansowana glownie emisjami akcji i dotacjami (NCBiR, EIC, ABM), bez zadluzenia bankowego.
Emisja akcji serii Y zamknieta w marcu 2026 (65,6 mln zl po 82 zl/akcje) znaczaco wydluza runway finansowy, ale srodki formalnie wplynely dopiero w kwietniu 2026, po dniu bilansowym.
Zaawansowane rozmowy partneringowe dotyczace degraderow NEK7 moga przyniesc pierwsza istotna umowe komercyjna, ale na dzien publikacji raportu nic nie zostalo podpisane.

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Financials

BETA

Q1 2026

CTX · Q1 2026

Metric	Q1 2026	Q1 2025	Δ YoY	Value type	Segment	Conf.

Revenue	328	—	—	reported	—	1.00
Gross profit	328	—	—	reported	—	1.00
EBITDA	-10,363	—	—	reported	—	0.85
EBIT	-11,262	—	—	reported	—	1.00
EBT	-11,348	—	—	reported	—	1.00
Net income	-11,375	—	—	reported	—	1.00
EPS (basic) (PLN)	-2.05	—	—	reported	—	1.00
EPS (diluted) (PLN)	-2.1	—	—	reported	—	0.90
D&A	899	—	—	reported	—	1.00
Interest expense	67	—	—	reported	—	0.80
Shares (basic) (m units)	5.55	—	—	reported	—	1.00
Shares (diluted) (m units)	5.41	—	—	reported	—	0.90

Cash	2,348	—	—	reported	—	1.00
Total debt	3,191	—	—	reported	—	1.00
Net debt	843	—	—	reported	—	0.90
Equity	12,054	—	—	reported	—	1.00
Total assets	26,097	—	—	reported	—	1.00
Working capital	7,741	—	—	reported	—	0.90
Current assets	20,610	—	—	reported	—	1.00
Current liabilities	12,869	—	—	reported	—	1.00
Goodwill	1,076	—	—	reported	—	1.00
Tangible equity	10,978	—	—	reported	—	0.85

CFO	-12,600	—	—	reported	—	1.00
CapEx	59	—	—	reported	—	1.00
FCF	-12,659	—	—	reported	—	0.90

Current ratio	1.6x	—	—	reported	—	0.90
Cash ratio	0.18x	—	—	reported	—	0.90

Debt / equity	0.26x	—	—	reported	—	0.90
Net debt / equity	0.07x	—	—	reported	—	0.85

Revenue growth (YoY)	-87.41%	—	—	reported	—	0.90
EBIT growth (YoY)	-5.1%	—	—	reported	—	0.85
Net income growth (YoY)	-6.12%	—	—	reported	—	0.85
EPS growth (YoY)	-5.13%	—	—	reported	—	0.85

Q1 2026 · Δ YoY

Revenue

328 —

Q1 2025: —

Gross profit

328 —

Q1 2025: —

EBITDA

-10,363 —

Q1 2025: —

EBIT

-11,262 —

Q1 2025: —

EBT

-11,348 —

Q1 2025: —

Net income

-11,375 —

Q1 2025: —

EPS (basic) (PLN)

-2.05 —

Q1 2025: —

EPS (diluted) (PLN)

-2.1 —

Q1 2025: —

D&A

899 —

Q1 2025: —

Interest expense

67 —

Q1 2025: —

Shares (basic) (m units)

5.55 —

Q1 2025: —

Shares (diluted) (m units)

5.41 —

Q1 2025: —

Cash

2,348 —

Q1 2025: —

Total debt

3,191 —

Q1 2025: —

Net debt

843 —

Q1 2025: —

Equity

12,054 —

Q1 2025: —

Total assets

26,097 —

Q1 2025: —

Working capital

7,741 —

Q1 2025: —

Current assets

20,610 —

Q1 2025: —

Current liabilities

12,869 —

Q1 2025: —

Goodwill

1,076 —

Q1 2025: —

Tangible equity

10,978 —

Q1 2025: —

CFO

-12,600 —

Q1 2025: —

CapEx

59 —

Q1 2025: —

FCF

-12,659 —

Q1 2025: —

Current ratio

1.6x —

Q1 2025: —

Cash ratio

0.18x —

Q1 2025: —

Debt / equity

0.26x —

Q1 2025: —

Net debt / equity

0.07x —

Q1 2025: —

Revenue growth (YoY)

-87.41% —

Q1 2025: —

EBIT growth (YoY)

-5.1% —

Q1 2025: —

Net income growth (YoY)

-6.12% —

Q1 2025: —

EPS growth (YoY)

-5.13% —

Q1 2025: —