Pharma Equity Group A/S reported a DKK 2.7 million loss for the first half of 2026, improving from a DKK 17.6 million loss a year earlier, while maintaining its full-year 2026 outlook for revenue of DKK 3.0 million to DKK 8.6 million and negative EBIT of DKK 5.8 million to DKK 11.4 million. The group said Reponex Pharmaceuticals A/S strengthened its intellectual property position with a new European patent covering treatment of inflammatory bowel disease, including pouchitis, and that the patent application for the RNX-051 treatment regime has moved into the national phase in Europe, the USA, Japan, China and India. PEG also said an arbitral award confirmed it has a valid claim tied to the Portinho S.A. receivable, supporting continued recovery efforts. In development, the RNX-051 formulation has been finalized and production for the planned clinical study has been established in Germany, with first-patient enrolment expected in late 2026 or early 2027 subject to regulatory, operational and financing requirements. First-patient enrolment for the planned RNX-011 clinical study is expected to begin in late 2026. The group said it strengthened capital resources through convertible instruments and loans, while continuing talks with potential licensing partners across Reponex's programs and assessing India and Japan, as well as Abu Dhabi, for clinical development, market access and licensing opportunities.