DexTech Medical AB: Half Year report July 1 - December 31, 2020

Summary of the First Half Year (2020-07-01 - 2020-12-31)

• Net sales amounted to MSEK 0.0 (0.0)

• Operating profit/loss amounted to MSEK -3.1 (-3.9)

• Earnings per share * SEK -0.21 (-0.26)

• Cash and cash equivalents at the end of the period amounted to MSEK 4.8 (6.1)

* 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 14,904,078.. Amounts in brackets refer to the corresponding period last year.

Second Quarter Summary (October - December 2020)

• Net sales amounted to MSEK 0.0 (0.0)

• Operating profit/loss amounted to MSEK -1.6 (-1.9)

• Earnings per share * SEK -0.10 (-0.13)

* 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 14,920,478.. Amounts in brackets refer to the corresponding period last year.

CEO's comment

In June 2020, DexTech's Phase IIb study of the drug candidate OsteoDex for the treatment of advanced prostate cancer, skeletal metastatic castration-resistant prostate cancer (mCRPC), was completed, with 2-year follow-up results obtained from the last patients. The follow-up results from the study were very positive and show that OsteoDex treatment can slow down the disease. The results show significantly longer survival for patients who responded to the treatment. The treatment was very well tolerated (no serious side effects) and good disease-inhibiting effect was seen even in the lowest doses. Slowing and regression of the disease was also seen in patients where the disease has progressed after treatment with several of the other available drugs for castration-resistant prostate cancer.

None of the modern drugs is curative in castration-resistant prostate cancer and there is therefore a great need (unmet need) for new potent and well-tolerated drugs. OsteoDex has a clear potential to meet this need.

Within the Company's R & D, we study OsteoDex's effect on multiple myeloma (MM) with very positive results (in vitro). MM is a malignant blood disease that develops in the bone marrow which, among other things, results in the breakdown of the skeleton. The results give us strong arguments in ongoing license discussions and are part of our strategy to point out OsteoDex's potential for other malignant diseases.

DexTech is working towards the company's primary goal, 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 second wave of Covid 19 has meant a continued slowdown in dialogue with stakeholders, which has shifted the goal of having an agreement ready in 2020 to 2021. The Corona pandemic has affected the licensing process to the extent that contacts with stakeholders are slower and exclude physical meetings of telephone / video meetings. Herein lies an educational challenge, ie. to be able to explain and shed light on the clinical status of CRPC and OsteoDex's place in the treatment, and, not least, the great potential of our platform technology. As general information, both for stakeholders and shareholders / market, a video presentation has been compiled in which the possibilities of the Guadex platform, the situation within treatment of prostate cancer and OsteoDex's place in the treatment are described. The presentation is available at www.youtube.com/watch?v=mDsC32m0T_g&t=157s and on our website www.dextechmedical.com.

Finally, we note a growing external interest in the company's PSMA binding construct, now with an approved Europe patent. We feel very confident with the work in 2021.

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 February 2, 2021 through the care of the above contact persons.

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

 

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.