Xoma, which develops technology for algae cultivation, reports, as planned, no revenue in the fourth quarter. The operating loss increased.The operating result, as well as both profit before and after tax, was -3.5 million kronor (-1.4). Earnings per share amounted to -0.03 kronor (-0.15). Cash flow from operating activities amounted to -2.9 million kronor (-1.6). Cash and cash equivalents amounted to 13.3 million kronor (2.0)."In summary, the quarter has involved steady progress in the project portfolio, important technical validations, strengthened financing, and a growing pipeline of new business opportunities. Several of our projects are now at stages where the next value-creating step is pilot verification in an industrial environment. We are therefore entering 2026 with a clear focus on taking existing projects further toward the pilot phase and continuing to broaden the base of industrial collaborations," comments CEO Mourad Lahdo.Xoma, MSEKQ4-2025Q4-2024Net sales00Operating result-3.5-1.4Profit before tax-3.5-1.4Net profit-3.5-1.4Earnings per share, kronor-0.03-0.15Cash flow from operating activities-2.9-1.6Cash and cash equivalents13.32.0