Key Highlights

  • FY26 Revenue rose 145% to $12.0 million, driven mainly by an $8.3 million upfront payment from the Genentech licence agreement.
  • The reported loss improved 25% to $7.5 million, while Research and Development spending rose to $11.1 million from $8.4 million.
  • Cash was $11.0 million at year end, and a post year-end entitlement offer raised net proceeds of $30 million, extending the runway into FY28.

Starpharma Holdings Limited (ASX:SPL, US OTC: SPHRY), a biotechnology company developing dendrimer technology, presented its Annual Report and full-year financial results for the year ended 30 June 2026 on 26 August 2026.

Revenue

FY26 revenue increased 145% to $12.0 million from $4.9 million. The company attributes the increase primarily to the $8.3 million upfront payment from the Genentech licence agreement. Revenue also included product sales, royalties, and other licence and research revenue. Because the upfront payment accounts for most of the growth, the revenue increase reflects a licensing event rather than a change in recurring product sales.

Loss and expenditure

The reported loss improved by 25% to $7.5 million from $10.0 million. The company continued to invest in its DEP pipeline, including its DEP HER2-Lutetium radiopharmaceutical asset and other early-stage next-generation DEP programs. Research and product development expenditure was $11.1 million, against $8.4 million, net of the Australian Government's R&D tax incentive.

Cash position and entitlement offer

Starpharma ended FY26 with a cash balance of $11.0 million. After year end it raised net proceeds of $30 million through an entitlement offer, which it says strengthens its cash position and extends its funding runway into FY28. The release does not give the offer price, the number of shares issued or the dilution to existing holders, which are set out in separate documents.

Pipeline and technology

The company describes dendrimers as precise, synthetically manufactured, nanoscale molecules with properties that suit medical and pharmaceutical applications. Its portfolio includes clinical-stage DEP assets, preclinical radiopharmaceutical assets, research collaborations and three commercially marketed over-the-counter products. The company says FY26 saw significant advancement of DEP HER2-Lutetium, new strategic partnerships and the strengthening of existing ones.

Disclosure notes

The announcement was authorised for release by the Chair, and its forward-looking statements caution that regulatory filings may not satisfy the FDA or other authorities and that product candidates may not be approved or reach any level of sales. The full financial statements and notes are in the annual report, which this summary release does not reproduce.

Business model

Starpharma earns revenue from three commercially marketed over-the-counter products, royalties, licence and research revenue and, in FY26, a large upfront licence payment. It has described itself as advancing dendrimer technology from the lab to the patient over two decades. The FY26 result shows how much of annual revenue can depend on a single licensing event, as the $8.3 million Genentech payment represents about 69% of the $12.0 million total.

Funding position

The $11.0 million year-end cash balance, together with the $30 million of net proceeds raised after year end, gives a combined position of about $41 million, though the post year-end figures are not part of the 30 June balance sheet. The company says this extends the funding runway into FY28, and the release does not describe funding plans beyond that point.