2cureX publishes year-end report for the fiscal year 2018

2cureX AB (“2cureX”) hereby publishes the year-end report for the fourth quarter and the fiscal year 2018. The year-end 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
“The success of the past fiscal year has enabled us to accelerate the launch of IndiTreat® and already in the second half of 2019 we plan a pre-launch in selected markets followed by a potentially earlier market launch than was initially communicated. Recently, we presented interim results from the colorectal cancer validation study and the results showed that we reached both the primary and secondary endpoints. Of eight patients treated according to IndiTreat® test results, five patients experienced progression-free survival (PFS) eight weeks after initiation of treatment. Reaching both the primary and secondary endpoints of this mid-term evaluation underscores our belief in the IndiTreat® technology and means that, in cooperation with the investigator, we continue the study towards conclusion.”

Fourth quarter (2018-10-01 until 2018-12-31) – the group

• Net turnover for the period was 0 KSEK (0 KSEK).
• The result before tax was -2 912 KSEK (-2 451 KSEK).
• The result per share* was -0,14 SEK (-0,18 SEK).
• The solidity** was 52,3 % (88,6 %).
• The cash and bank were 20 063 KSEK (19 985 KSEK).

Fiscal year (2018-01-01 until 2018-12-31) – the group

• Net turnover for the period was 0 KSEK (47 KSEK).
• The result before tax was -9 672 KSEK (-3 995 KSEK).
• The result per share* was -0,80 SEK (-0,37 SEK).

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

**Solidity: Equity divided by total capital.

Significant events during the fourth quarter 2018

•  In early October 2018, 2cureX received CE-IVD labelling of its product IndiTreat®. The CE-IVD label entitles 2cureX to sell IndiTreat® tests in Europe. The CE-IVD label places 2cureX in a unique position to successfully launch IndiTreat® on the European market in 2020.

•  In mid-November 2018, 2cureX, together with the clinical partner, University Hospital Vejle, received approval to initiate a clinical study in metastatic pancreatic cancer. IndiTreat® is thus being clinically validated in three major cancer indications (colorectal cancer, ovarian cancer and pancreatic cancer).

•  2cureX announced at the beginning of December 2018 that the company is accelerating the launch of IndiTreat®. The company will make a pre-launch in selected markets during the second half of 2019.

Significant events after the end of the period

•  In mid-January 2019, 2cureX strengthened the organisation by recruiting Carit J Andersen as CFO for the company.

•  At the end of February 2019, 2cureX announced positive clinical data showing that its colorectal cancer trial has met both the primary and the secondary endpoints in a mid-term evaluation.

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

For more information about 2cureX:

Certified Adviser

Sedermera Fondkommission
E-mail: ca@sedermera.se
Telephone: +46 40 615 14 15

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 March 1st, 2019.

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, ovarian and pancreatic cancer.

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

Tags: