Heidelberg Pharma Adjusts Strategy Amid Financial Delays

Heidelberg Pharma AG announced a significant reduction in operating costs and a strategic focus on its lead ADC candidate, HDP-101, due to a delayed USD 70 million milestone payment. The delay stems from unmet conditions in a royalty financing agreement with HealthCare Royalty. Consequently, the company plans to reduce its workforce by approximately 75% to extend cash reach until mid-2026.

The clinical development of HDP-101, tested in Multiple Myeloma, remains on track. However, other pipeline projects, including HDP-102, will be temporarily paused. Preclinical programs are also up for potential outlicensing. The company continues to explore alternative financing solutions in collaboration with its Supervisory Board.

Heidelberg Pharma assures its financial guidance will be reassessed and updated if necessary.