2cureX publishes interim report for the second quarter and first half of 2022

CEO Fernando Andreu comments:

“Our second quarter welcomed two important additions to our team of professionals, Director of Quality Assurance and Regulatory Affairs, Manuel Fernández and Medical Director, Raphael Gruber. Both are crucial capacities in our path forward, and we are proud as a company to have attracted this unique talent.

We are now present in a total of 16 countries, including and adding Israel as a new important market for us in the second quarter of 2022. Our goal is to reach 20 by the end of 2022 and with the phase we are seeing currently, we assess that there is a good chance we will exceed our goals, making us the company with the largest geographic coverage in the field of drug sensitivity testing. Furthermore, our early access program, IGNITE, is receiving good attention and we consider there is potential to exceed our goal of 30 hospitals by the end of 2022.

Another important event that took place in the second quarter of 2022 was our participation in the ESMO World Congress on Gastrointestinal Cancer (ESMO GI). It gave us the opportunity to present IndiTreat@ individually to a large group of relevant oncology professionals and the large volume of traffic at our booth reaffirmed their high interest in drug sensitivity testing.

As 2cureX grows and becomes even more globally oriented, and in an effort to optimize our resources, we have decided to stop producing our quarterly reports in two languages. We are confident that we are keeping our duty of transparency to our shareholders if, starting from the third quarter of 2022, quarterly reports will only be provided in English.

FINANCIAL HIGHLIGHTS
The financial development is in line with our plans and expectations, and with a cash position of SEK 55,6 million at the end of Q2 2022, our capital resources can support the current activities and growth plans.”

First half of 2022 (2022-01-01 until 2022-06-30) – the group

Net turnover for the period was 8 KSEK (0 KSEK).
Other operating income was 900 KSEK (4 319 KSEK)
The result before tax was -14 300 KSEK (-8 810 KSEK)
The result per share* was -0.81 SEK (-0.48 SEK)
The solidity** was 95 % (94 %).
The cash and bank were 55 583 KSEK (78 913 KSEK).

*Earnings per share: Profit for the period divided by the average number of shares. Average number of shares in the first half of 2022: 17 558 642 shares. Total number of shares in 2cureX AB on June 30st, 2022: 17 602 916 shares.
**Equity ratio: Shareholder’s equity divided by total capital.

Significant events during the second quarter 2022

April:

Chairman of the 2cureX Board exercises all warrants within the framework of the 2018 incentive program.

Manuel Fernández joins 2cureX as Director of Quality Assurance and Regulatory Affairs.

Notice of annual general meeting of 2cureX AB.

May:

2cureX publishes the annual report for the fiscal year 2021.

Redeye research interview with 2cureX CEO, Fernando Andreu.

2cureX appoints Sedermera Corporate Finance AB to act as a liquidity provider for the company’s share.

2cureX presents IndiTreat® clinical results at the Society for Functional Precision Medicine.

IGNITE update: Eight hospitals have been enrolled in the program.

Presenting Dr. Michael Schaefer in regards to the nomination to the Board of Directors.

Three IndiTreat® posters were accepted at ESMO-GI 2022

2cureX announces new distributer in Finland

June:

2cureX AB announces share purchase by the company’s Chairman of the Board of Directors and Executive Management.

2cureX expands distribution of IndiTreat® to Israel

Significant events after the period

July:

Dr. Raphael Gruber joins 2cureX as new Medical Director

Notice of extra general meeting in 2cureX AB

August:

Announcement from 2cureX extra general meeting approving warrant package for board member Dr. Michael Schaefer