2cureX publishes interim report for the third quarter of 2020.
November 26, 2020
Press Releases Regulatory
2cureX AB (“2cureX”) hereby publishes interim report for the third quarter of 2020. The interim report is available on the company’s website (www.2curex.com/investors/reports/). Below follows a short summary of the report.
CEO Ole Thastrup comments
“IndiTreat® was officially launched for colorectal cancer at the end of the third quarter at the international cancer conference ESMO (Eur. Soc. Medical Oncology). Nine months of pre-launch activities in 2020 embedded the launch readiness in terms of product offering, pricing, and positioning in our commercial strategy and market roll-out. The start of the IndiTreat commercialization was supported by two other important events in Q3 2020: 1) Concluded patient enrolment according to plan in our colorectal cancer trial that started in 2017 and 2) The finalization of a successful capital raise in July 2020.
2cureX continues to present a strong financial position with a cash position of SEK 64 million at the end of Q3.”
Nine months (2020-01-01 to 2020-09-30) – Group
Net turnover for the period was 0 KSEK (0 KSEK).
Other operating income was 10 179 KSEK (7 196 KSEK)
The result before tax was -5 773 KSEK (-6 671 KSEK)
The result per share* was -0,38 SEK (-0,51 SEK)
The solidity** was 90% (71%)
The cash and bank were 63 977 KSEK (38 655 KSEK)
*Earnings per share: Profit for the period divided by the average number of shares. Average number of shares for nine months in 2020: 13 184 234 shares. Total number of shares in 2cureX AB on September 30st, 2020: 14 846 000 shares.
**Equity ratio: Shareholder’s equity divided by total capital.
Significant events during the third quarter of 2020
- In July, an Extraordinary General Meeting approved to change the composition of the Board of Directors and to issue an authorization to the Board of Directors to increase the company’s share capital.
- In July, 2cureX expanded its Board of Directors with CEO Michael Lutz (CEO of HepaRegeniX (GmbH) and Professor, MD, CSO Nils Brünner (CSO of Scandion Oncology A/S).
- In July, 2cureX completed a heavily oversubscribed Directed Issue of approximately SEK 40 million.
- In September, 2cureX officially launched IndiTreat® at Europe’s biggest cancer conference, ESMO (Eur. Soc. Medical Oncology).
Significant events after the period
- In October, the last patient was successfully enrolled in the 2cureX’s clinical trial in colorectal cancer.
- In November, an Extraordinary General Meeting approved to offer in total 120.000 warrants 40.000 warrants to each of the following three members of the Board of Directors, Nils Brünner, Camilla Huse Bondesson and Michael Lutz.
- In November, 2cureX presented a commercial roadmap regarding the IndiTreat® test for 2021-2023
For more information about 2cureX:
Ole Thastrup, Chief Executive Officer
Telephone: +45 22 11 53 99
Telephone: +46 8 121 576 90
2cureX has developed the IndiTreat® (Individual Treatment) test. IndiTreat® establishes thousands of 3D micro-tumors that are similar to the patient’s tumor and identifies the treatment that most effectively kills the patient’s tumor and the treatment to which the patient is resistant. Immediately after the test, the patient can be offered the selected treatment.
IndiTreat® is being clinically validated in clinical studies in colorectal cancer, ovarian cancer, pancreatic cancer, and preventive cancer medicine. The clinical programs are conducted at major cancer hospitals in Denmark, Germany, Sweden, and United Kingdom.
IndiTreat® is presently being introduced into the European market.
The aspiration is that IndiTreat® becomes a standard Functional Precision Medicine tool for cancer patients.
The company is listed at the Nasdaq First North Growth Market in Stockholm (symbol: “2CUREX”).