Summary of Year-End Report 2021 Dicot AB
Press release: Uppsala, February 28, 2022. A summary of the Year-End report 2021, for Dicot AB (publ) is now avalible on the company webbsite www.dicot.se .
Fourth Quarter 2021
- Net sales amounts to KSEK 0 (0)
- Earnings for the period amounts to KSEK -8,408 (-4,188)
- Earnings per share SEK -0.10 (-0.10)
January – December 2021
- Net sales amounts to KSEK 0 (0)
- Earnings for the period amounts to KSEK -27,175 (-17,541)
- Earnings per share SEK -0.52 (-0.61)
Statement from the CEO
2021 was in particular characterized by unambiguous results in our animal studies which, among other things, confirm that our drug candidate LIB-01 has an effect that lasts for more than seven days. Leading researchers and physicians have commended the positive results, which will be presented at two international congresses this spring. Encouraged by this and a welcome capital injection, we can now accelerate our business development and prepare for the start of clinical studies.
THE MAJOR DRUG DEVELOPMENT GOAL this year has been to conduct pharmacological studies on animals to verify our drug candidate’s long duration of action, which distinguishes it from other treatments of today. This has now been unambiguously proven, or as Professor François Giuliano at Pelvipharm puts it: ”I feel confident that Dicot’s drug candidate is effective.” Studies on diabetic rats also gave positive results and showed a significantly better effect compared to vehicle. Thanks to these strong results, we can now accelerate our work and focus on starting clinical trials at the end of 2022.
INTERNATIONAL RECOGNITION has arised as a reaction to our accomplishments. Dicot’s research results have been selected to be presented at the European Society for Sexual Medicine’s annual congress in early 2022 and later this year at the European Association of Urology’s congress. And our ambition with LIB-01 receives positive response from world-leading doctors and researchers in our field. Dr Chris McMahon, former chairman of the International Society of Sexual Medicine and with over 100 published articles, states that ”one pill a week with proven efficacy, proven safety profile and no significant side effects, would be a game changer”.
BUSINESS DEVELOPMENT IS AS IMPORTANT A PART of the company’s long-term success as the drug development. With strong results from the preclinical work behind us, we now prioritize business development and have produced a new business plan. The most important part of the plan is to identify pharmaceutical partners in appropriate markets. In 2021, an international consulting company has probed and analyzed the market situation and herewith the preparatory work is completed. In 2022, we level up our ambition and actively engage in starting dialogues with the most suitable companies.
DURING THE LAST QUARTER OF THE YEAR, WE CARRIED OUT A RIGHTS ISSUE that was almost fully subscribed. In addition to a welcome capital injection, we are grateful for our existing shareholders continued trust and to be able to welcome close to 1,000 new shareholders.
FINALLY; a big thank you to employees, partners, shareholders and the board who contribute to our business in various ways. We promise to manage your contributions well and take Dicot quickly and safely towards our goals and visions.
For further information, please contact:
Göran Beijer CEO
Tel: +46 706 63 60 09
Email: goran.beijer@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.