2cureX publishes interim report for the first quarter of 2019
May 8, 2019
CEO Ole Thastrup comments
“We have started 2019 with great momentum and during the first three months we have been able to achieve several value-driving activities. We have among other things strengthened the organization through the recruitment of a CFO, presented successful interim results from the ongoing validation study in colorectal cancer and in addition expanded the business to be operational in preventive cancer medicine. In parallel with this, we have continued our preparatory activities for the market launch of IndiTreat®. It feels very exciting to have accomplished the above activities and I look forward to seeing the continued development during the year.”
First quarter (2019-01-01 until 2019-03-31) – the group
- Net turnover for the period was 0 KSEK (0 KSEK).
- The result before tax was -1,913 KSEK (-2,944 KSEK).
- The result per share* was -0.15 SEK (-0.28 SEK).
- The solidity** was 57 % (53 %).
- The cash and bank were 17,167 KSEK (30,675 KSEK).
*Result per share: The result of the period divided by the average number of shares. Average number of shares for the first quarter 2019: 10 350 000 shares. Total number of shares in 2cureX AB on March 31st, 2019: 10 350 000 shares.
**Solidity: Equity divided by total capital.
Significant events during the first quarter 2019
- In mid-January 2019, 2cureX strengthens the organisation by recruiting Carit J. Andersen as CFO for the Company.
- At the end of February 2019, 2cureX announced that the Company's first clinical trial, where IndiTreat® guides treatment, has achieved both the primary and secondary endpoints of an interim analysis. Of eight patients treated according to IndiTreat® test results, five patients experienced progression-free survival (PFS) eight weeks after initiation of treatment.
- In mid-March 2019, 2cureX expands its activities to preventative cancer medicine by launching, together with the University Hospital Bispebjerg (Copenhagen, Denmark), a feasibility study to use the IndiTreat® test in order to identify existing or new drugs that can prevent cancer precursors (adenoma) from developing. to fully developed colorectal cancer.
- In mid-March 2019, 2cureX publishes a notice for an extraordinary general meeting. Full notice with proposed decisions is available on the Company's website (www.2curex.com).
- At the end of March 2019, 2cureX receives a Notice of Allowance from the US Patent Office regarding the patent “Identifying compounds modifying a cellular phenotype”, which has previously been approved in the European market. The US patent will be valid until early July 2035.
Significant events after the period
- At the beginning of April 2019, 2cureX holds an extraordinary general meeting. Communique with a summary of decisions made is available on the Company's website (www.2curex.com).
- In early April 2019, 2cureX announces a commercial cooperation with Gibson Oncology LLC, USA. 2cureX will use its IndiTreat® technology to stratify colorectal cancer (CRC) patients for their sensitivity to the anti-cancer drug LMP400.
- 2cureX announces that the Board of Directors, with the support of authorisation from the extraordinary general meeting on April 2nd, 2019, has decided to conduct a rights issue of shares that can provide the company a maximum of approximately SEK 24.7 million before issue costs.
Phone: +46 40 615 14 15
For more information about 2cureX:
Ole Thastrup, CEO
Phone: +45 221153 99
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 May 8th, 2019.
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-tumours that are functionally similar to the patient’s tumour. 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, ovarian cancer, pancreatic cancer and preventive cancer medicine. The clinical studies are conducted at major cancer hospitals in Denmark, Germany and United Kingdom.
The company is listed at the Nasdaq First North stock exchange in Stockholm (symbol “2CUREX”).