Summary of Interim Report January – March 2022, Dicot AB

Press release: Uppsala, May 6, 2022. A summary of the Interim report January – March 2022, for Dicot AB (publ) is now available on the company website www.dicot.se 

First quarter 2022

• Net sales amounts to kSEK 0 (0)
• Earnings for the period amounts to kSEK -9,346 (-8,468)
• Earnings per share SEK -0.09 (-0.19)

Statement from the CEO

New patent opportunities, strengthening of the management team and recent market figures showing a large increase in demand for potency drugs. These are important events during the first quarter of the year. And even though erection problems are so common, we are often met with surprise when we highlight that every other man over 40 years are affected.

DURING THE FIRST quarter we have started the work to expand and strengthen Dicot’s management team. Björn Petersson is our new CFO since March 7 and as of April 1, I took over the role as CEO, and former CEO Göran Beijer continues to work as a consultant in the company’s management team. In early April, I also announced that we strengthen the management team with Dr. Charlotta Gauffin as Chief Scientific Officer.

TO BE COST-EFFECTIVE and minimize large, fixed costs, but at the same time be able to use leading competence in different areas, Dicot is a so-called “virtual organization”. This means a small but strong management team coordinating the work and procuring services in a global arena as needed.

EVEN THOUGH WE ARE in an early phase of drug development, a business mindset is a priority. One important area for us - as a pharmaceutical development company with a partnering strategy - is to get a strong hold on the patent situation to realize maximum shareholder value from future business agreements. During the first quarter, we announced that ten new patent opportunities have been identified. This means that Dicot has the opportunity to extend patent protection by another 20 years. We now manage these assets as trade secrets to, at the right time, make the decision to apply for patent rights.

TODAY, HALF OF ALL MEN over the age of 40 are affected to varying degrees by erection problems. And recent market figures show that the demand for potency drugs increases rapidly. At the same time, we know that few men seek help, and we are often met with surprise over how common erection problems are when we point this out. A contributing factor to this stigma is likely male ideals concerning performance. That’s why it is inspiring when journalists shed light on the subject such as Ann Heberlein in a column in Svenska Dagbladet on April 9. Ann and I completely agree: the first step towards acceptance is attention. I sincerely hope that a by-product of Dicot´s work is that the floodlights are being turned up. Because it’s exactly as WHO puts it: “every individual has the right to sexual health”.

For further information, please contact:

Elin Trampe, CEO
Tel: +46 73-980 1408
E-mail: elin.trampe@dicot.se

Björn Petersson, CFO
Tel: +46 76-109 0000
E-mail: bjorn.petersson@dicot.se

About Dicot AB

Dicot is developing the drug candidate LIB-01, which will be a potency agent to better treat erectile dysfunction and premature ejaculation. The ambition is to create a drug with significantly longer effect and far fewer side effects, compared to those on the market. Today, at least 500 million men suffer from these sexual dysfunctions and the market is valued at SEK 50 billion. Research and development are conducted under own auspices up to phase 2 studies. Thereafter, Dicot's intention is to form strategic alliances, or alternatively carry out a trade sale, with larger, established pharmaceutical companies to be able to introduce LIB-01 on the world market.

Dicot is listed on Spotlight Stock Market and has approximately 3,300 shareholders. For more information, please visit www.dicot.se.