2cureX publishes interim report for the first quarter of 2021
CEO Fernando Andreu comments
“In the first quarter of 2021, and with the momentum created by the TICC trial results, 2cureX has accelerated its Business development and Go-to-Market activities. We have added four countries (Italy, France, Spain and Poland) to our 2021 priorities and are in advanced discussions with distributors there. We are having regular meetings with hospitals in the different countries to identify early adopters and discuss programs to facilitate the introduction of IndiTreat® in their clinical routine, and we have also initiated the activities towards application for reimbursement in Germany and UK.
At the same time, we are working on changes in our quality and regulatory processes and documents in order to adapt to the new IVD Regulation coming into force in May 2022.
FINANCIAL HIGHLIGHTS
With a cash position of SEK 54 million at the end of Q1 2021, 2cureX continues to hold a strong financial position that can support the activities and growth ambitions of the current plans.”
First quarter (2021-01-01 until 2021-03-31) – the group
Net turnover for the period was 0 KSEK (0 KSEK).
Other operating income was 3 850 KSEK (2 603 KSEK)
The result before tax was -2 222 KSEK (-1 229 KSEK)
The result per share* was -0.12 SEK (-0.09 SEK)
The solidity** was 94 % (81 %).
The cash and bank were 53 991 KSEK (30 018 KSEK).
*Earnings per share: Profit for the period divided by the average number of shares. Average number of shares for the first quarter 2021: 14 856 600 shares. Total number of shares in 2cureX AB on March 31st, 2021: 14 856 600 shares.
**Equity ratio: Shareholder’s equity divided by total capital.
Significant events during the first quarter 2021
- Organizational development:
In January, 2cureX appoints Fernando Andreu, an international Biotech executive, as new CEO.
2cureX appoints Kenneth Graabek Johansen, an experienced business and financial executive, as new CFO.
- Clinical validation:
In January, the last patient had been treated in 2cureX’s interventional clinical trial (TICC) in metastatic colorectal cancer.
In March, the clinical TICC trial met its primary endpoint.
- Product development:
In February, IndiTreat® selected to prestigious multinational ovarian cancer project (DECIDER).
Significant events after the period
- Financial:
In April, the exercise price for warrants of series TO1 determined to SEK 13.22.
In April, Board and management of 2cureX exercise all held warrants of series TO1 for SEK 6.04 million.
In April, 2cureX’s CEO Fernando Andreu is buying shares in the company.
In May, Mangold Fondkommission AB published an Analyst Report on 2cureX.
In May, Warrants of series TO1 were subscribed to approximately 96.75 percent and 2cureX AB receives approximately SEK 31.40 million.
For more information about 2cureX:
Fernando Andreu, Chief Executive Officer
E-mail: fa@2curex.com
Telephone: +45 2279 5399
www.2curex.com
This information is such that 2cureX AB is required to make public in accordance with the EU's Market Abuse Regulation (MAR). The information was made public by the Company's contact person above on May 27, 2021.
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About 2cureX
2cureX has developed the IndiTreat® (Individual Treatment) test. IndiTreat® establishes thousands of 3D microtumors that functionally resemble the patient's tumor and identifies the approved cancer treatment that most effectively kills the patient's tumor. Immediately after the test, the patient is given the selected treatment.
The first IndiTreat® product in metastatic colorectal cancer is introduced to the European market. Subsequent products help patients at different stages of colorectal cancer and other solid cancers.
The company is listed on Nasdaq First North Growth Market in Stockholm (symbol: "2CUREX"). For more information about 2cureX visit www.2cureX.com. Certified Adviser: Redeye AB, +46 8 121 576 90, certifiedadviser@redeye.se.