* Phase II clinical trial activated * Cost control is still kept strict * We keep our fair value of SEK 0.06 per share
Gabather's first report of 2026 came in close to our estimates, with an EBIT of KSEK -1 052 against our projected KSEK -1 136. The real news came in May, when the company announced that the long-awaited TOTEMS phase II trial had been activated; a double-blind, randomised study with both schizophrenia patients and healthy controls, with data read out continuously. CEO Michael-Robin Witt has expressed hopes of publishing an interim report this autumn. In April, Gabather also filed a patent for a new non-sedating sleep treatment and entered partnerships aimed at opening doors to licensing discussions. We make no changes to our financial model and keep our fair value of SEK 0.06 per share.