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2cureX publishes interim report for the third quarter of 2019

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2cureX AB (“2cureX”) hereby publishes interim report for the third quarter of 2019. 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 Ole Thastrup comments

“We remain fully focused on the commercialization of IndiTreat with a planned launch of IndiTreat in 2020. Further, we push our multiple clinical studies to capitalize on a significantly increased interest for introducing 3D functional testing in cancer care. Pre-launch activities to support the market launch of IndiTreat® in 2020 is on-track and our commercial model with an Early Access Program is received positively by leading clinical institutions.”

Nine months (2019-01-01 to 2019-09-30) – Group

  • Net sales amounted to 0 KSEK (0 KSEK).
  • Profit before tax amounted to -6 671 KSEK (-6 759 KSEK).
  • Earnings per share* amounted to -0,51 SEK (-0,65 SEK).
  • Equity ratio** amounted to 71 % (51 %).
  • Cash and bank amounted to 38 655 KSEK (23 848 KSEK).

Third quarter (2019-07-01 to 2019-09-30) – Group

  • Net sales amounted to 0 KSEK (0 KSEK).
  • Profit before tax amounted to -1 636 KSEK (-711 KSEK).
  • Earnings per share* amounted to -0,11 SEK (-0,07 SEK).

* Earnings per share: Profit for the period divided by the average number of shares. Average number of shares for the third quarter of 2019: 12 420 000 shares. Number of shares in 2cureX AB as of September 30, 2019: 12,420,000 shares.
**Equity ratio: Shareholder’s equity divided by total capital.

Significant events during the third quarter of 2019

  • Dr. Med. Henrik Harling joined 2cureX’s Management team in July as Chief Medical Officer to oversee the company’s multinational clinical trials and to participate in the launch of IndiTreat®.
  • With the first seven patients being enrolled into the IndiTreat® pancreatic cancer trial at University Hospital Vejle, the patient recruitment rate is on-track.
  • In September, 2cureX presented details of the IndiTreat Early Access Program as part of the IndiTreat pre-launch activities.  

Significant events after the quarter had ended

  • 2cureX and one of the largest private cancer hospitals in the Nordic countries entered into a commercial agreement regarding the IndiTreat Early Access Program.
  • The patent protection of IndiTreat was expanded into the Asian region by granting of a Hong Kong patent.
  • 2cureX continues to secure a strong patent protection on major markets by granting of a patent in USA.

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

 

For more information about 2cureX:

Ole Thastrup, CEO              
E-mail: ot@2cureX.com
Phone: +45 22 11 53 99     
URL: www.2curex.com

Certified Adviser

Svensk Kapitalmarknadsgranskning AB
Telephone: +46 70 755 95 51
E-mail: ca@skmg.se

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 November 22st, 2019.

About 2cureX

2cureX has developed the IndiTreat® (Individual Treatment Design) test. IndiTreat® establishes thousands of 3D micro-tumours that are functionally similar to the patient’s tumour and identifies the approved cancer treatment that most effectively kills the patient’s tumor. Immediately after the test, the patient will be provided the selected treatment.

IndiTreat® is being clinically validated in eight clinical studies in colorectal cancer, ovarian cancer, pancreatic cancer and preventive cancer medicine. The clinical programs are conducted at major cancer hospitals in Denmark, Germany and United Kingdom.

IndiTreat® is expected to become a standard tool in the treatment design for cancer patients.

IndiTreat® is presently being introduced into the European market through an Early Access Program.

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

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