FINANCIAL RESULTS The Group recorded a net loss from operating activities after income tax of $7,505,123 (2025: $6,932,280) and ended the financial year with a cash balance of $9,353,441 (2025: $6,520,923). Product revenues from sales of the hTERT test totalled $294,002 (2025: $294,314) and from EXO-NET totalled $138,045 (2025: $253,261). Income from other sources was $2,182,104 (2025: $1,679,482) including an accrual of $1,782,316 for the Research and Development Tax Incentive Refund for the 2026 financial year (2025: $1,267,738). The refund for 2026 is expected to be received in the coming months. Miscellaneous income, representing interest income, added $399,788 (2025: $411,744). General and administration costs were $4,867,071 (2025: $5,313,080) with the following significant contributors: › Employee expenditure $1,816,506 (2025: $2,890,233) net of a non-cash share based payments credit of $87,072 (2025: $824,563 expense); › Professional and legal fees $754,284 (2025: $634,879); › Amortisation of intangible assets $944,925 (2025: $944,925) for the hTERT and NETs intangible assets; and › ASX listing and share registry fees of $137,074 (2025: $80,750). Research and Development expenditure was $4,669,680 (2025: $3,254,552) including employee related expenditure of $1,593,575 (2025: $1,312,059) and $2,815,604 (2025: $1,691,506) paid to external contractors and suppliers. The majority of expenditure was incurred on the EXO-OC and Therapeutic programs. Sales and Marketing expenditure was $505,814 (2025: $471,319) of which employee related expenditure contributed $371,846 (2025: $346,111). The three categories of expenditure – General and Administration, Research and Development, and Sales and Marketing, for the reporting period specifically included: › amortisation of intangible assets - $944,925 (2025: $944,925) for the hTERT and Molecular NETs intangible assets and $15,239 (2025: $35,070) related to granted patents; › depreciation of right-of-use assets (required by accounting standard AASB16 – Leases) - $122,484 (2025: $193,576); › depreciation of building improvements - $33,169 (2025: $33,548) and depreciation of plant and equipment - $214,443 (2025: $172,992); › share based payments credit of $87,072 (2025: $824,563 expense). The credit in the 2026 financial year includes the impact of the reversal of previously recognised expense on unvested options that were cancelled after the departure of former IIQ Chairman, David Williams; and › lease liability interest expense, as required by AASB16, $20,765 (2025: $21,734). Review of Operations Directors’ Report Chairman’s Letter CEO’s Report Financial Report Shareholder Information 13 Annual Report 2026
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