DexTech Medical AB, Interim report July 1 - September 30, 2020
First Quarter Summary (July - September 2020)
• Net sales amounted to MSEK 0.0 (0.0)
• Operating profit/loss amounted to MSEK -1.5 (-2.0)
• Earnings per share * SEK -0.10 (-0.13)
• Cash and cash equivalents at the end of the period amounted to MSEK 5.5 (8.2)
* 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 14,887,678. Amounts in brackets refer to the corresponding period last year.
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.
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) before the end of 2020. A majority of our stakeholders had expressed a desire for new contact when the follow-up results were completed, which can be largely understood as the result should give an indication of whether the OsteoDex treatment affects survival, which is the ultimate intention of CRPC treatment. Dialogue is ongoing, including with new stakeholders.
The ongoing Corona pandemic has, of course, affected the out-licensing work to the extent that contacts with stakeholders are somewhat slower and exclude physical meetings that are replaced by telephone / video meetings. Herein lies an educational challenge, i.e. to be able to explain and shed light on the clinical status of CRPC and OsteoDex place in the treatment, and, not least, the great potential of our platform technology. Here we have great benefit from our clinical expert.
Anders R Holmberg
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 October 22, 2020 through the care of the above contact persons.
This report is an in-house translation of the original report in Swedish
This report has not been reviewed by the Company's auditor.
Stockholm October 22, 2020
DexTech Medical AB
Board of Directors
DexTech Medical AB
Dag Hammarskjölds Väg 34A, Uppsala
Box 389, 751 06 Uppsala
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.