2cureX publishes interim report for the third quarter and first nine months of 2022
2cureX AB (“2cureX”) hereby publishes the interim report for the third quarter and first nine months of 2022. The interim report is available as an attached document as well as on the company’s website (https://www.2curex.com). A short summary of the report follows below.
CEO Fernando Andreu comments:
“During the term of the third quarter of 2022 we obtained overwhelming confirmation, through the externally conducted study “Oncologists’ attitude towards Functional Drug Sensitivity Testing”, which documents a high degree of support and reaffirmation for the need of new tools that
support therapy decision-making in colorectal cancer.
As we exit the third quarter of 2022, we are now present in a total of 17 countries, which since last quarter includes our new distributor in Romania as well as strengthened position in Portugal. Our updated goal and expectation are to reach a total of 20 countries as 2022 comes to an end.
Our early access program, IGNITE, continues to be very well received by the oncologists. The progress and enrolment did not develop quite as planned, which is the result of a low summer activity as well as a longer than expected processes to formalizing agreements. In Q3 2022 we have a total of 15 hospitals and expectations are to reach a total of 20 IGNITE agreements by the end 2022.
To download a copy of the report, please go here: https://www.2curex.com/investors/reports/
FINANCIAL HIGHLIGHTS
The financial development is in line with our plans and expectations, and with a cash position of SEK 47,8 million at the end of Q3 2022, our capital resources can support the current activities and growth plans”
First nine months of 2022 (2022-01-01 until 2022-09-30) – the group
Net turnover for the period was 8 KSEK (0 KSEK).
Other operating income was 1,295 KSEK (4,850 KSEK)
The result before tax was -22,653 KSEK (-15,202 KSEK)
The result per share* was -1.29 SEK (-0.79 SEK)
The solidity** was 93 % (96 %).
The cash and bank were 47,820 KSEK (72,498 KSEK).
*Earnings per share: Profit for the period divided by the average number of shares. Average number of shares in the first nine months of 2022: 17,573,562 shares. Total number of shares in 2cureX AB on September 30st, 2022: 17,602,916 shares.
**Equity ratio: Shareholder’s equity divided by total capital.
Significant events during the third quarter 2022
July:
Dr. Raphael Gruber joins 2cureX as new Medical Director
Notice of extra general meeting in 2cureX AB
August:
Announcement from 2cureX extra general meeting approving warrant package for board member Dr. Michael Schaefer
2cureX expands distribution of IndiTreat to Romania
2cureX strengthens the relationship with Werfen to include Portugal
2cureX terminates liquidity provision service
Significant events after the period
October:
2cureX celebrates co-inventor of patents awarded Nobel Prize in Chemistry
Independent market survey shows great demand for 2cureX product portfolio
November:
2cureX hosted a deep dive session of its operational and commercial strategy
For more information about 2cureX:
Fernando Andreu, Chief Executive Officer
E-mail: fa@2curex.com
Telephone: +45 2279 5399
www.2curex.com
Kenneth Graabek Johansen, Chief Financial Officer
E-mail: kgj@2curex.com
Telephone: +45 2349 0227
www.2curex.com