Danish biotechnology company FluoGuide AS reported a net loss of DKK 24.6 million for the first half of 2026, with total cash burn reaching DKK 29 million, including DKK 28.2 million in operational expenses. As of June 30, the company held DKK 50 million in cash and securities, alongside DKK 11 million in expected tax credits, bringing total liquid assets to approximately DKK 61 million. Total assets stood at DKK 65 million, supported by DKK 31 million in equity and DKK 27 million in debt from a Fenja Capital loan.
Research and development costs totaled DKK 13.2 million, primarily allocated to head and neck cancer trial CT-005 and aggressive brain cancer trial CT-006. External operating expenses reached DKK 18.3 million, while administrative, sales, and marketing costs amounted to DKK 5.1 million. The company collected DKK 5.2 million in tax credits during 2026, with an annual cap of DKK 5.5 million expected to be met in the third quarter. An additional DKK 5.5 million from 2025 is anticipated by December 2026.
FluoGuide secured U.S. regulatory progress in its high-grade glioma program, receiving FDA approval for the first registration trial site. The company also obtained Fast Track designation for its lead candidate FG001, which targets the uPAR protein, complementing prior Orphan Drug status. The primary trial endpoint measures surgical resection completeness via MRI, while a secondary endpoint aims to visualize tumors behind the blood-brain barrier—a milestone described by CEO Morten Albrechtsen as "the holy grail in brain tumor surgery."
In head and neck cancer research, FluoGuide completed the first phase of its trial with 15 patients in the Netherlands, selecting an optimal dose and validating compatibility across multiple imaging systems. Protocol adjustments now include automated margin assessment for the next 10-patient cohort, with interim results deferred to early 2027. The company also enrolled its first low-grade glioma patient in May at Rigshospitalet, with data expected in the second half of 2026.
FluoGuide’s shares rose 7.4% to $33.40 following the update, within a 52-week range of $28 to $47.80. The company’s diluted loss per share over the last twelve months stood at $0.44.
