ExpreS2ion Biotech Holding AB: Publication of financial report for January – June 2018

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ExpreS2ion Biotech Holding AB (“ExpreS2ion”) hereby publishes the financial report for the period of January – June 2018. The report is available as an attached document to this press release and on the Company’s website (www.expres2ionbio.com). Below is a summary of the report.

Second quarter (2018-04-01 to 2018-06-30)

  • Group turnover amounted to 2,982 (2,310)* KSEK
  • Result after financial items amounted to -4,101 (-3,097) KSEK
  • Net income amounted to -3,322 (-2,636) KSEK
  • Net income per share** amounted to -0,28 (-0,30) SEK

First half year (2018-01-01 to 2018-06-30)

  • Group turnover amounted to 5,260 (5,924)* KSEK
  • Result after financial items amounted to -7,552 (-4,315) KSEK
  • Net income amounted to -6,539 (-3,745) KSEK
  • Net income per share** amounted to -0.59 (-0.43) SEK
  • Cash flow from operating activities amounted to -6,513 (-4,981) KSEK
  • Equity ratio*** amounted to 62.0 (46.4) %
  • Cash and cash equivalents amounted to 12,219 (1,465) KSEK

*Numbers in parenthesis are the numbers from the same period in 2017.

**The Group’s net income per share: the net income for the period divided by 11,073,682, which is the average number of shares for the whole period. The average number of shares for the second quarter was 12,002,015.  The total number of shares in ExpreS2ion Biotech Holding AB was 12,002,015 shares per 2018-06-30.

***Equity ratio: Shareholder’s equity divided by total capital.

Significant events during the second quarter 2018

  • On April 20, ExpreS2ion Biotech Holding AB announced that its subsidiary’s U.S.-based partner and licensee Integrated BioTherapeutics, Inc. (“IBT”) has initiated sales and marketing of its first ExpreS2-based product. It was also stated that IBT is planning to launch approximately five products for research purposes annually, and that the collaboration is expected to generate annual revenues of up to 1 MSEK for ExpreS2ion, when fully implemented.
  • On May 3, ExpreS2ion published its annual report for 2017.  The annual report is available on ExpreS2ion’s website (www.expres2ionbio.com).  
  • On May 17, ExpreS2ion announced that the Company’s patent application “Improved Protein Expression System”, that covers the entire ExpreS2 platform, has been approved in Canada.
  • On May 24, the annual general meeting of ExpreS2ion Biotech Holding AB (publ) was held. The report is available on the Company's website (www.expres2ionbio.com).
  • On May 29, the Company announced a collaboration agreement with GenIbet Biopharmaceuticals S.A. regarding vaccine development and GMP manufacturing. The Board’s assessment is that the agreement strengthens ExpreS2ion’s position as a full-service provider from discovery up to early clinical development.
  • On June 15, ExpreS2ion announced that the Company will present its malaria and breast cancer vaccine research at two scientific events in June 2018.

CEO Dr. Steen Klysner comments

We continue to see positive revenue development based on sales and services relating to our core ExpreS2 platform. In conclusion, the Company has continued to make solid progress during the second quarter of 2018, with the much-appreciated support of our partners and shareholders. We look forward to continuing this development, as well as to pursue new, upcoming opportunities in the future. 

Financial calendar

Interim report Q3, 2018 2018-11-22
Year-end report, 2018 2019-02-28

Certified Adviser

Sedermera Fondkommission is appointed as Certified Adviser for ExpreS2ion Biotech Holding AB.

For further information about ExpreS2ion Biotech Holding AB, please contact:

Dr. Steen Klysner, CEO
Telephone: +45 2062 9908
E-mail: sk@expres2ionbio.com 

This press release contains information that ExpreS2ion Biotech Holding AB is obligated to make public pursuant to the Securities Markets Act. The information was submitted for publication through the agency of the contact person set out above on August 24th, 2018.

About ExpreS2ion

ExpreS2ion Biotechnologies ApS is a fully owned Danish subsidiary of ExpreS2ion Biotech Holding AB with company register number 559033-3729. The subsidiary has developed a unique proprietary platform technology, ExpreS2, which can be used for fast and efficient preclinical and clinical development as well as robust production of complex proteins for new vaccines and diagnostics. Since the company was founded in 2010, it has produced more than 250 proteins and 35 virus-like particles (VLPs) in collaboration with leading research institutions and companies, demonstrating superior efficiency and success rates. In addition, ExpreS2ion develops novel VLP based vaccines through the joint venture AdaptVac ApS that was founded in 2017.