2cureX AB publishes interim report for the first financial quarter of 2018

May 18 | 2018
2cureX AB (”2cureX”) hereby publishes the interim report for the first financial quarter of 2018. The interim report is available via attached file and on the company’s website (www.2curex.com). Below is a short summary of the report.

First quarter (2018-01-01 until 2018-03-31) – the group

  • Net turnover for the period was 0 KSEK (0 KSEK).
  • The result after tax was -2 944 KSEK (-1 546 KSEK).
  • The result per share was -0,28 SEK (-0,19 SEK).
  • The solidity** was 53 % (57 %).
  • The cash and bank was 30 675 KSEK (6 624 KSEK).

*Result per share: The result of the period divided by the average number of shares. Average number of shares for the first quarter 2018:
10 350 000 shares. Total number of shares in 2cureX AB on March 31st, 2018: 10 350 000 shares.

**Solidity: Equity divided by total capital.

Significant events during the first quarter 2018

  •  At the end of January 2018, 2cureX agreed on the final terms concerning a 29 million SEK grant from Horizon 2020. The grant is given to finalize the clinical validation of 2cureX’s proprietary technology, IndiTreat® product and to initiate market launch.
  •  In the beginning of March 2018, 2cureX announced that the company was invited to present results of the IndiTreat® clinical trial at the ESMO World Congress on Gastrointestinal Cancer in June 2018.
  •  In March 2018, the company received the first payment of 14,7 million SEK from EU Horizon 2020, of which approximately EUR 1,5 million SEK will be held a guarantee account at Horizon 2020 until the end of the project.

Significant events after the end of the period

  •  At the end of April 2018, 2cureX opened a screening laboratory in Hamburg, Germany, to prepare for the launch and commercialisation of IndiTreat® on the German market. 2cureX’s screening lab will become the prime contact for offering IndiTreat® testing to German oncology hospitals.
  •  At the end of April 2018, 2cureX published a notice to the Annual General Meeting. Complete notice with suggested decisions is available on the website of 2cureX (www.2curex.com).
  •  2cureX published the annual report for the fiscal year 2017. The annual report is available on the website of 2cureX (www.2curex.com).

Other events during the first quarter 2018

  •  2cureX participated on a number of investor meetings such as Sedermeradagen Copenhagen; Aktiespararna Stockholm and Lund; Dansk Aktionærforening Copenhagen.
  •  2cureX announced that the company’s tumoroid technology recapitulates the general genetic inter and intratumor heterogeneity (Mol. Oncology (2018) Jan;12(1):132-147).
  •  2cureX launched a Questions & Answers (Q&A) on the company’s website (www.2curex.com).

CEO Ole Thastrup’s comments

Q1 2018 was the first full quarter for 2cureX as a listed company. I am very pleased with the clinical development of our IndiTreat® test for colorectal cancer patients and the progress we’re making in building an organization with strong capabilities in order to capitalize the market opportunity. The planned European launch of the IndiTreat® product in 2020 is being supported by an intensified marketing effort and launch of a commercial screening laboratory in Germany.

For the full interim report (only Swedish), please see https://www.2curex.com/investors/reports/

Certified Adviser

Sedermera Fondkommission is the Certified Adviser of 2cureX. 

For more information about 2cureX:

Ole Thastrup, CEO

E-mail: ot@2cureX.com

Phone: +45 22 11 53 99

URL: www.2curex.com

This is information that 2cureX AB is obliged to make public pursuant to the Securities Markets Act. The information was submitted for publication on the 18th of May, 2018.

About 2cureX

2cureX has developed a test called IndiTreat® (Individual Treatment Design), which is a patented method for selecting the right drug for the right patient. IndiTreat® establishes thousands of 3D micro-tumors that are functionally similar to the patient’s tumor. From a large panel of approved cancer treatments IndiTreat® selects the best treatment for the individual patient. IndiTreat® is expected to become a standard tool in the treatment design for cancer patients.

IndiTreat® is currently being clinically validated in colorectal cancer.

The company is listed at the Nasdaq First North stock exchange in Stockholm (symbol “2CUREX”).