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AIM:POLB · Health Care · Clinical-stage biopharmaceutical company (AIM-listed, ticker POLB.L)
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Poolbeg Pharma plc

Poolbeg Pharma plc is a clinical-stage, pre-revenue UK biopharmaceutical company focused on transforming cancer immunotherapy. Its lead asset POLB 001, an orally delivered p38 MAPK inhibitor, is being developed as a preventative therapy for cancer immunotherapy-induced Cytokine Release Syndrome (CRS). The company is also developing an oral encapsulated GLP-1 programme for obesity with partner AnaBio, and is exploring AI-led drug discovery collaborations.

Export the Poolbeg Pharma plc factsheetfree accountOpen the FY2025 report
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5 annual reports read, FY2021 to FY2025

Open a year to see what its report said. Every line in it carries the page it was read from.

Sources: Companies House (5)

  1. FY2026Next report expected 4 May 2027

  2. Open the reportJSONComing soon
    Sixty seconds on the FY2025 report

    Poolbeg Pharma plc is a UK drug developer working on a pill to prevent a dangerous immune over-reaction that some cancer treatments can cause, plus an oral obesity treatment. It has no products on sale and earned no revenue in either year. Its loss after tax narrowed slightly to £5.7m, from £5.8m the year before. The report points to cost-saving steps during the year, including some job cuts, though research spending rose to £1.5 million from £1.4 million. One-off costs were small, such as writing down research projects that have been set aside. Cash at the year end was £7.7m, against £7.8m a year earlier, and the company has no borrowings. Cash held up because the company raised £4.5m by selling new shares in June 2025. No dividend is proposed. Management expects early results from its cancer trial in summer 2026 and plans to start the obesity trial in the second half of the year. It hopes good results will attract partners. The auditors raised no doubts about the company's ability to keep going, though the report warns that trials may fail and that more funding may not be available.

    From the reportevery line sits on the page it names
    What moved the margintailwind

    Targeted operational efficiency measures including selective headcount reductions implemented during the year to streamline the cost base

    To ensure resources remain aligned with near-term development priorities, the Company implemented targeted operational efficiency measures during the year, including selective headcount reductions.

    page 3
    Andheadwind

    R&D expenses increased year-on-year

    R&D expenses of £1.5 million (2024: £1.4 million)

    page 3
    One-offs in the year

    £26k charge: Impairment of intangible assets (de-prioritised R&D programmes)

    page 37
    What management said

    We remain focused on delivering important milestones, namely interim data from the POLB 001 clinical trial in the summer, ahead of full data, and the commencement of the oral GLP-1 proof-of-concept trial, expected in H2 2026.

    page 4
    After the year end

    3 February 2026: 7,903,778 new ordinary shares issued following exercise of share options by former employees; total shares in issue after admission 705,103,778.

    page 62
    The dividend

    The Directors do not recommend payment of a dividend.

    page 25
    Going concern and the audit

    Unqualified ('true and fair') audit opinion by Gravita Audit II Limited (senior statutory auditor Daniel Howarth), dated 27 April 2026, with no material uncertainty on going concern identified. Key audit matters: (1) carrying value of intangible assets (£1,674,000 at cost basis, £26,000 impairment in year); (2) carrying value of investments in subsidiaries and recoverability of intercompany loans (Company accounts only) - net impairment/ECL charge of £4,700,000 to loans to UK and Ireland subsidiaries; (3) going concern given pre-revenue status, cash balance £7,713,000 (2024: £7,824,000) and loss after tax of £5,695,000 (2024: £5,790,000). Group materiality £289,000 (5% of net loss); Company materiality £202,000 (1% of gross assets).

    page 30
    The risks it names first
    • Organisational Risk - future success dependent on Executive Directors and senior management; loss of key contributors would present riskp.8
    • Competition Risk - biotechnology/pharmaceutical industry highly competitive with better-resourced rivalsp.8
    • Development Risk - clinical trials expensive, complex and outcomes uncertain; earlier pre-clinical results may not predict future resultsp.8
    • Regulatory Risk - EMA/FDA/MHRA approval processes lengthy, time-consuming and unpredictablep.9

    Read from C001020-AR-2025-ch.

  6. FY2022Year to 31 Dec 2022 Opens with a free accountThe report, its reading and its figures
  7. FY2021Year to 31 Dec 2021 Opens with a free accountThe report, its reading and its figures