2cureX publishes year-end report for 2019
Press releases regulatory
2cureX AB (“2cureX”) hereby publishes the year-end report for the fourth quarter and the fiscal year 2019. The year-end report is available as an attached document as well as on the company’s website (www.2curex.com). Below follows a short summary of the report.
Fourth quarter (2019-10-01 until 2019-12-31) – the group
- Net turnover 0 KSEK (0 KSEK).
- Profit before tax -2 740 KSEK (-1 783 KSEK).
- Earnings per share* -0,17 SEK (-0,05 SEK).
- Equity ratio** 74 % (57 %).
- Cash and bank assets 33 720 KSEK (20 063 KSEK).
Fiscal year (2019-01-01 until 2019-12-31) – the group
- Net turnover 0 KSEK (0 KSEK).
- Profit before tax -9 411 KSEK (-8 542 KSEK).
- The result per share* -0,68 SEK (-0,70 SEK).
*Result per share: The result of the period divided by the average number of shares. Average number of shares for the fourth quarter 2019:
12 420 000 shares. Total number of shares in 2cureX AB on December 31st, 2019: 12 420 000 shares.
**Solidity: Equity divided by total capital.
Significant events during the fourth quarter 2019:
- Commercial agreement: 2cureX and Docrates Cancer Center in Helsinki, the largest private cancer hospital in the Nordics, signed a commercial agreement (PR, 8 October 2019).
- Patent protection: 2cureX secured patent protection in the US (PR, 6 November 2019) and Hong Kong (PR, 15 October 2019).
- R&D: Progression in the IndiTreat® immuno-oncology assay development was presented at the ESMO Immuno-Oncology Congress in Geneva (PR, 13 December 2019).
- Awareness: The IndiTreat.com website dedicated to patients and doctors was launched (News, 10 December 2019).
Significant events after the reporting period:
- Clinical trials: 2cureX’s clinical trial in colorectal cancer has successfully enrolled 75% of the patients needed to finalize the trial (PR, 30 January 2020).
- Patent protection: 2cureX obtained patent protection in Australia (PR, 6 January 2020)
CEO Ole Thastrup comments
“In Q4 2019 we got our Early Access program started with an agreement with Docrates Cancer Center (Helsinki, Finland), the largest private cancer hospital in the Nordics. This program, being a front-runner for our market launch of the IndiTreat® test in second half of 2020, is defining the IndiTreat offering, logistics and other details related to customers in different European markets.
It is very comforting to see that our core patent on IndiTreat continues to issue in commercially appealing markets (US, Australia and Hong Kong). Such protection is key to our ability to attract strong partners for the coming commercialization.
Our clinical studies are progressing well with the most advanced trial in colorectal cancer as being 75% done. Finalization of the trial is expected in Q3 2020.
2cureX push forward into 2020 with a strong cash position of 33,7 MSEK plus 11 MSEK still outstanding from our Horizon 2020 grant from EU”.
For the full year-end report, please see https://www.2curex.com/investors/reports/
For more information about 2cureX:
Ole Thastrup, Chief Executive Officer
Telephone: +45 2211 5399
Svensk Kapitalmarknadsgranskning AB
Phone: +46 11 32 30 732
This information is information that 2cureX AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on February 28, 2020.
2cureX has developed the IndiTreat® (Individual Treatment) test. IndiTreat® establishes thousands of 3D micro-tumours that are similar to the patient’s tumour and identifies the treatment that most effectively kills the patient’s tumor. 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 and United Kingdom.
IndiTreat® is presently being introduced into the European market through an Early Access Program.
The aspiration is that IndiTreat® becomes a standard tool in Precision Medicine for cancer patients.
The company is listed at the Nasdaq First North Growth Market in Stockholm (symbol “2CUREX”).