Third quarter report Q3-2021 - focusing on next trial (0205)
Cessatech A/S (“Cessatech” or the “Company”) today releases its results for the period 1 July – 30 September 2021. The third quarter report is available as an attached document to this press release and on www.cessatech.com under Investor, ‘Filings & Reports’. The company is on track with planned activities, has initiated recruitment of trial 0206 - a trial to investigate the pharmacokinetics in children aged 1-17 undergoing elective surgical procedures, and getting ready for trial 0205
Third quarter 2021 (1 July – 30 September):
- Net revenue was KDKK 0
- Operating result was KDKK -3.484
- Net result was KDKK -2.876
- Cash at bank end of the period was KDKK 5.935
- Earnings per share* was KDKK -0,78
- Solidity** was 87%
*Earnings per share (DKK per share): Operating result divided by the average number of shares during the period. The total number of shares as of 30 September 2021 amounted to 3.680.000 shares, the average number of shares during the third quarter was 3.680.000. There have been no increases in the number of shares since the completion of the IPO in December 2020.
**Solidity: Total equity divided by total capital and liability.
Highlights during third quarter 2021
- Ongoing analysis of trial 0204, final results expected end of the year
- Initiated (first patient enrolled) and ongoing recruitment for trial 0206
- Submitted protocol for authorities approval for trial 0205
- Cessatech announced the issuance of its first US patent covering CT001 (2 Nov 2021)
- Finalisation of GMP clinical manufacturing batch production of CT001 for trial 0205
- Continue to build the organization to lead the development of CT001
“The third quarter of 2021 has focused much on getting trial 0205 ready for recruitment - trial 0205 is a randomised, double-blind study comparing the analgesic effect of CT001 for treatment of acute pain in adults undergoing surgical removal of an impacted mandibular third molar. We hope to receive regulatory approval from authorities by the end 2021 so we can initiate recruitment. The outlook is really encouraging for the Company especially also with the first US patent issuance for CT001“ says Jes Trygved, CEO
For more information about Cessatech, please contact:
Jes Trygved, CEO
Phone: +45 9387 2309
About Cessatech A/S:
Cessatech’s business model offers unique, scalable economic value creation by identifying and developing drugs with a short time to market and risk-reduced profile. The drugs that are developed by Cessatech should be proven effective in adults and represent a medical unmet need in children where a focused development plan can be applied for documenting good effect in children. Cessatech’s first product and lead asset, CT001, is an analgesic non-invasive nasal spray for children aged 1-17 years that experience acute pain or pain related to medical procedures.