2cureX publishes year-end report for 2020.
February 25, 2021
Press Releases Regulatory
2cureX AB (“2cureX”) hereby publishes the year-end report for the fourth quarter and the fiscal year 2020. 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.
Joint comments from CEO Fernando Andreu and CSO Ole Thastrup
In the fourth quarter of 2020 we have moved forward with the IndiTreat® colorectal cancer clinical trial (TICC) where the last patient has been enrolled and treated in accordance with the IndiTreat® test results. The TICC trial is the world’s first interventional trial where a functional microtumor test is used by oncologists to guide treatment. The study is on track to be finalized with data-read-out first quarter of 2021.
In the first days of January 2021, we announced the appointment of Fernando Andreu as new CEO. With a long experience in the IVD industry, Fernando will provide an important strengthening of the commercial and business development dimension of 2cureX, just as the first IndiTreat® product is scheduled to be rolled-out.
2cureX continues to present a strong financial position with a cash position of SEK 59 million at the end of Q4 2020.
Fourth quarter (2020-10-01 until 2020-12-31) – the Group
- Net turnover 0 KSEK (0 KSEK).
- Profit before tax -2 818 KSEK (-2 740 KSEK).
- Earnings per share* -0,15 SEK (-0,17 SEK).
- Equity ratio** 93 % (74 %).
- Cash and bank assets 58 577 KSEK (33 720 KSEK).
Fiscal year (2020-01-01 until 2020-12-31) – the Group
- Net turnover 0 KSEK (0 KSEK).
- Other operating income 15 391 KSEK (11 982 KSEK)
- Profit before tax -8 591 KSEK (-9 411 KSEK).
- The result per share* -0,54 SEK (-0,68 SEK).
*Earnings per share: Profit for the period divided by the average number of shares.
**Equity ratio: Shareholder’s equity divided by total capital.
Significant events during the fourth quarter of 2020
- In October, the last patient was successfully enrolled in the IndiTreat® colorectal cancer clinical trial (TICC).
- In November, 2cureX presented a commercial roadmap regarding the IndiTreat® test for 2021-2023 dependent upon further COVID impact.
- In December 2cureX launched a dedicated inditreat.com website, focusing on product information for patients and treating physicians, and available in five languages (English, Swedish, German, Spanish and Portuguese).
Significant events after the period
- In January 2cureX appointed Fernando Andreu, an international biotech executive, as new CEO.
- In January, the last patient was treated in 2cureX’s colorectal cancer clinical trial (TICC). The world’s first interventional trial with 3D microtumors as guide for choice of cancer treatment.
- In January, 2cureX appointed Kenneth Graabek Johansen, an experienced business and financial executive, as new CFO.
- In February, it was announced that 2cureX is a partner and IndiTreat is being used in the international DECIDER ovarian cancer project funded with EUR 15 million from EU.
Telephone: +46 8 121 576 90
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 25th, 2021.
2cureX has developed the IndiTreat® (Individual Treatment) test. IndiTreat® establishes thousands of 3D micro-tumors (tumoroids) 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.
The first IndiTreat® products will be in colorectal cancer. Subsequent products will help patients with ovarian cancer and patients with pancreatic cancer.
The company is listed at the Nasdaq First North Growth Market in Stockholm (symbol: “2CUREX”).