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2cureX publishes interim report for the first quarter 2022

May 24, 2022

IR

Regulatory

Report

2cureX AB (“2cureX”) hereby publishes the interim report for the first quarter of 2022. The interim 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.

CEO Fernando Andreu comments

This year we have set three goals that represent the progress in our go-to-market plan: introducing IndiTreat® in 30 hospitals across Europe, being present in 20 countries and launching 1 additional IndiTreat® test to complete our portfolio in metastatic colorectal cancer.

With the full focus and effort of our teams, we have made very good progress in the first quarter of 2022. We recruited 8 hospitals for the IGNITE program and are in advanced conversations with several more, we launched IndiTreat® Explore to identify drugs that could be used “off label” in third line mCRC patients, and we added 3 new countries – Poland, Czech and Slovakia – to our territories, reaching a total of 14 at the end of Q1.

We are confident that we are on track to achieve our goals for 2022 despite the turbulent economic and political situation in Europe at the moment.

FINANCIAL HIGHLIGHTS
The financial development is in line with our plans and expectations, and with a cash position of SEK 63.3 million at the end of Q1 2022, our capital resources can support the current activities and growth plans.”

2022 (2022-01-01 until 2022-03-31) – the group

Net turnover for the period was 0 KSEK (0 KSEK).
Other operating income was 434 KSEK (3 850 KSEK)
The result before tax was -7 897 KSEK (-1 835 KSEK)
The result per share* was -0.45 SEK (-0.12 SEK)
The solidity** was 96 % (94 %).
The cash and bank were 63 348 KSEK (53 991 KSEK).

*Earnings per share: Profit for the period divided by the average number of shares. Average number of shares in Q1 2022: 17 513 876 shares. Total number of shares in 2cureX AB on March 31st, 2022: 17 602 916 shares.
**Equity ratio: Shareholder’s equity divided by total capital.

Significant events during the first quarter 2022

January:
New Institutional shareholder.

New Distributor for IndiTreat® in Czech Republic and Slovakia through Promedica, and in Poland through Perlan Technologies.

February:
Announces a reorganization to an even stronger distributor focus.

Publising Q4 2021 and a virtual live session presenting the Q4 2021 report

March:
2cureX launches IndiTreat® mCRC Explore and completes portfolio rollout plan for 2022

Mangold Fondkommission AB published an updated Analyst Report on 2cureX

Significant events after the period

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 have been accepted at ESMO-GI 2022