Mont-Saint-Guibert, Belgium; September 25, 2025, 6:30 pm CET; regulated information – Celyad Oncology (Euronext: CYAD) (the “Company”), today announced its financial results for the first half year 2025 ended June 30, 2025.
First Half 2025 financial review
As of June 30, 2025, the Company’s Treasury position amounted to €0.8 million.
After due consideration of detailed budgets and estimated cash flow forecasts for the years 2025 and 2026, the Company projects that its existing cash and cash equivalents will be sufficient to fund its estimated operating and capital expenditures into the fourth quarter of 2025.
Key financial figures for first half 2025, compared with the first half of 2024 and full year 2024, are summarized below:
| Selected key financial figures (€ millions) | Half Year 30 June 2025 | Half Year 30 June 2024 | Full Year 31 December 2024 |
| Revenue | – | – | 0.2 |
| Research and development expenses | (2.1) | (1.5) | (3.2) |
| General and administrative expenses | (1.7) | (1.7) | (3.2) |
| Other income/(expenses) | 0.1 | 0.2 | 0.4 |
| Operating loss | (3.7) | (3.1) | (5.9) |
| Loss for the period/year | (3.7) | (3.0) | (5.9) |
| Net cash used in operations | (3.3) | (2.8) | (5.7) |
| Cash and cash equivalents | 0.8 | 6.2 | 4.2 |
Research and Development (R&D) expenses were €2.1 million in June 2025 as compared to €1.5 million during the same period in 2024, an increase of €0.6 million. The increase in the Company’s R&D expenses was primarily driven by the increase of the IP costs related to the licensing activities as well as the increase of the expenses linked to the redevelopment of the catheter.
General and Administrative (G&A) expenses remained stable with €1.7 million in June 2025 as in June 2024.
Net loss for the first half of 2025, was €3.7 million, or €(0.09) per share, compared to a net loss of €3.0 million, or €(0.07) per share, for the same period in 2024.
Net cash used in operations was €3.3 million for the first half of 2025 compared to €2.8 million for the first half of 2024. The increase of €0.5 million was primarily driven by the global increase of IP activities and catheter development costs.
As of June 30, 2025, the Company had cash and cash equivalents of €0.8 million. No capital increase occurred in the first half of 2025. The total number of basic shares outstanding was 41.4 million like in December 31, 2024.
The interim financial report for first half 2025 of the Company can be found on our website: https://celyad.com/investors/
Financial Calendar 2025
May 20th 2026 : Annual shareholders meeting
September 24th 2026 : First Half 2026 Interim results
The financial calendar is communicated on an indicative basis and may be subject to change.
