STORM THERAPEUTICS LIMITED

• ⚠

  Material uncertainty over going concern

  However, the requirement for additional funding means there is a material uncertainty about the group and the company's ability to continue as a going concern.

1. STORM THERAPEUTICS LIMITED 2016-06-24 → present
2. ICENI THERAPEUTICS LIMITED 2015-04-21 → 2016-06-24

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

IFRS

Reporting scope

Consolidated group

Auditor

RSM UK Audit LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“However, the requirement for additional funding means there is a material uncertainty about the group and the company's ability to continue as a going concern.”

Group structure

1. STORM THERAPEUTICS LIMITED · parent
   1. Storm Therapeutics Inc. 100% · USA · Biotechnology

Significant events

• “During 2024, Storm's lead compound (STC-15), which is a highly selective METTL3 inhibitor and is the first molecule specifically targeting an RNA methyltransferase enzyme, concluded a Phase 1a clinical study. The trial was a multiple ascending dose escalation trial to measure safety, pharmacokinetics, target engagement, biomarkers related to mechanism, and anti-tumor efficacy in cancer patients with solid tumors.”
• “In April 2024, Exelixis terminated our collaboration targeting ADAR1 as a result of a portfolio prioritisation and restructuring.”
• “On 23 January 2025, the company received £13.6 million through the completion of a Series C financing round. On the same date, the company's convertible loan note, disclosed within note 16 of these financial statements, converted into 78,079,977 C1 preferred shares. The Series C financing round will enable further development of STC-15. As at 31 March 2025, Storm held cash and cash equivalents of £14.4 million, no borrowings and overall positive net assets in excess of £14 million.”
• “Under an agreement with Cancer Research Technology Limited to licence knowhow, dated 28 July 2018, payments are payable to the licensor on the achievement of development milestones and a royalty of 0.5% on net sales of licenced products.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

14

last 12 months

Capital events

12

last 24 months

Officers appointed

1

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  -11%

  £7,330,354 → £6,522,294

• Cash

  -46.2%

  £7,816,993 → £4,203,543

• Net assets

  -569.8%

  £1,930,172 → -£9,068,585

• Employees

  +11.8%

  34 → 38

• Operating profit

  +5.7%

  -£13,968,873 → -£13,167,403

• Profit before tax

  -1.1%

  -£13,818,725 → -£13,967,198

• Wages

  +19.8%

  £2,947,669 → £3,530,699

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers