DexTech Medical AB, Half Year report July 1 - December 31, 2019

Summary of the First Half Year (2019-07-01 - 2019-12-31)

• Net sales amounted to MSEK 0.0 (0.0)

• Operating profit/loss amounted to MSEK -3.9 (-4.2)

• Earnings per share * SEK -0.26 (-0.29)

• Cash and cash equivalents at the end of the period amounted to MSEK 7.4 (0.0)

* Before and after dilution. Earnings per share: Profit for the period divided by the average number of shares 14,920,478. For the comparison period, the average number of shares was 14,752,833. Amounts in brackets refer to the corresponding period last year.

Summary of the Second Quarter (October - December 2019)

• Net sales amounted to MSEK 0.0 (0.0)

• Operating profit/loss amounted to MSEK -1.9 (-2.3)

• Earnings per share * SEK -0.13 (-0.16)

* Before and after dilution. Earnings per share: Profit for the period divided by the average number of shares 14,904,078. For the comparison period, the average number of shares was 14,752,833. Amounts in brackets refer to the corresponding period last year.

CEO's comment

DexTech works according to the company's primary goals, i.e. to enter into an agreement with a licensee for the company's drug candidate OsteoDex for the treatment of skeletal metastases in advanced prostate cancer (mCRPC). The collaboration with the US company CYTO Consulting LLC, which started in August 2019, continues to be very satisfactory. CYTO focuses on potential licensees in the US and China.

The OsteoDex Phase IIb study ends when the results of the 24-month follow-up are available. Patients are followed 24 months after discontinuing OsteoDex treatment. The result relates to information about whether the patient is alive or deceased (so-called OS, overall survival). Interim results as of October 14 show that of patients who had stable (unchanged) disease in skeletal metastasis at the end of treatment, 58% were alive, 48% of patients who had discontinued or discontinued treatment with progressive disease (advanced disease development), and of those patients who at the end of treatment had objective skeletal regression (reduction of existing skeletal metastases) lives 86%. The results indicate prolonged survival after OsteoDex treatment.

Of course, this measure of overall survival is of great importance to potential stakeholders and can be crucial to the possibility of conducting a licensing deal. Our partial results so far are considered very positive. Finished follow-up results are expected to be presented in May 2020, slightly earlier than previously announced.

The formal clinical study report (CSR) for the phase IIb study was available in December 2018. The results show that OsteoDex acts as a brake medicine at mCRPC. The course of the disease in the skeleton was stabilized in the majority of patients who completed the entire treatment. The study also confirmed the results of phase I i.e. OsteoDex has a very high tolerability with the absence of serious side effects.

The preferential rights issue completed in the summer of 2019 in July 2019, which provided the company with SEK 9.2 million after issue costs, provides the company with a solid capital base that finances the license negotiations, including legal costs, and ensures the company's continued R&D.

Anders R Holmberg
CEO

Contact

Anders Holmberg, CEO, +46 73 324 27 82

Gösta Lundgren, CFO, +46 70 710 47 88

This information is such information that DexTech Medical AB is required to disclose in accordance with the EU Market Abuse Regulation. The information was submitted for publication on January 31, 2020 through the care of the above contact persons.

This report has not been reviewed by the Company's auditor.

This report is an in-house translation of the original report in Swedish

Stockholm January 31, 2020

DexTech Medical AB

Board of Directors

 

DexTech Medical AB
Dag Hammarskjölds Väg 34A, Uppsala
Mailing address:
Box 389, 751 06 Uppsala
www.dextechmedical.com

DexTech Medical AB is a Swedish research company that, based on its technology platform, has developed four drug candidates that are protected by patents. The main candidate is OsteoDex for the treatment of castration-resistant prostate cancer (CRPC) with skeletal metastases. A successful Phase II clinical study has been conducted with OsteoDex where the result shows high tolerability with mild side effects as well as efficacy and treatment effect on patients who fail on existing drugs. DexTech's goal is to, after completing a phase II study, license each drug candidate. DexTech Medical AB is listed on the Spotlight Stock Market.