CS MEDICA A/S: CS MEDICA revises financial targets

CS MEDICA (”CS MEDICA” or the ”Company”) announces today that due to delays from the COVID-19 lockdown, the Company’s revenue goal for the coming three financial years has been revised. The revenue goal for the year 2021/2022 is reduced to DKK 12 million from previously DKK 50 million. The revenue goal for the following financial year, 2022/2023, will be adjusted to DKK 65 million from previously DKK 150 million. The revenue goal of DKK 150 million is sought to be accomplished in the financial year 2023/2024.

Due to significant delays in the different business areas of CS MEDICA caused by COVID-19, e.g., within clinical trials, production and transportation processes, Pharmacy chain listings in the Nordic markets, as well as difficulties with the supply of ingredients for the CANNASEN products, the Company is now staggering their revenue goal one year. Previous financial targets communicated in the prospectus published on August 13, 2021 in connection with the Company’s listing on Spotlight Stock Market have now been updated. The Company updated its revenue expectations for the year 2021/2022 to DKK 12 million and the following financial year, 2022/2023, to DKK 65 million, with a revenue goal of approximately DKK 150 million to be accomplished in the year 2023/2024.

 

This disclosure contains information that CS MEDICA A/S is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 02-05-2022 19:34 CET.

For more information about CS MEDICA, please contact:
Lone Henriksen, CEO
Phone: + (45) 71 20 30 47
Email: lh@galaxapharma.com
Website: https://www.cs-medica.com/

CS MEDICA A/S is a Danish medico cannabis company founded in 2011. CS MEDICA is committed to developing, manufacturing, and commercializing over-the-counter (OTC) medical device products containing cannabinoids. The Company runs its business through the two fully-owned subsidiaries, Galaxa Pharma A/S (distributor and representative of foreign manufacturers in the Nordic, registered medical device product distributor) and CanNordic A/S (Medical device developer and seller (BtB), registered medical device product manufacturer). CS MEDICA distributes products across the European borders and is headquartered in Copenhagen, Denmark.

The company is listed on Spotlight Stock Market in Stockholm (symbol: “CSMED”). For more information about CS MEDICA cs-medica.com.