ExpreS2ion Biotech Holding AB: Publication of interim financial report for January – March 2019
ExpreS2ion Biotech Holding AB (“ExpreS2ion”) hereby publishes financial report for the period of January – March 2019. 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.
CEO Dr. Steen Klysner comments
“The Company’s revenues in the first quarter of 2019 were 19 % above the result from Q1 in the same period last year. It is also notably 90 % higher than the 2018 Q4 result, which we consider to be a sign of the emerging impact from the platform investments in combination with the updated marketing and sales efforts initiated in 2018. With the improved and expanded platform, we have also strengthened our position for the creation of new high value assets through a combination of products or platforms with synergy with our platform, which is a high priority strategic goal in 2019.”
The first quarter (2019-01-01 to 2019-03-31)
- Group turnover amounted to 2,721 (2,278) KSEK.
- Result after financial items amounted to -4,956 (-3,451) KSEK.
- Net income amounted to -4,341 (-3,217) KSEK.
- Net income per share* amounted to -0.36 (-0.32) SEK.
- Cash flow from operating activities amounted to -4,266 (-2,996) KSEK.
- Equity ratio** amounted to 64.2 (64.2) %.
- Cash and cash equivalents amounted to 10,139 (17,775) KSEK.
Numbers in brackets corresponds to the comparable period in 2018.
*The Group’s net income per share: the net income for the period divided by 12,002,015, which is the average number of shares for the first quarter 2019. The total number of shares in ExpreS2ion Biotech Holding AB was 12,002,015 shares per 2019-03-31. After the end of Q1 2019, a directed share issue has been registered, in which the number of shares increased to 13,602,015.
**Equity ratio: Shareholder’s equity divided by total capital.
Significant events during Q1 2019
- On January 10, ExpreS2ion announced that the placental malaria vaccine (PlacMalVac) consortium, of which ExpreS2ion is part, has announced successful phase I clinical study results. The PAMVAC vaccine, manufactured using the ExpreS2 platform, was demonstrated to be safe, well-tolerated and to elicit specific antibody response in all participants.
- On February 19, ExpreS2ion announced that its joint venture AdaptVac has been awarded approx. SEK 3.6 million by the Danish Innovation Foundation for its participation in a vaccine project aimed at preventing post-weaning diarrhoea (PWD), a major cause of antibiotic use in the swine industry.
- On February 28, ExpreS2ion announced that the Company is conducting a directed share issue of initially approx. SEK 8 million, with attached consideration-free warrants, which in later stages can provide the Company with a further approx. SEK 9.6 million. The directed share issue is conducted in order to finance an accelerated pace of operations and increased investments in the business to ensure long-term good development.
- On March 19, ExpreS2ion Biotech Holding AB held an extraordinary general meeting. The extraordinary general meeting approved the Board's decision to conduct a directed share issue.
Significant events after the end of the period
- On April 16, ExpreS2ion announced that Mitsubishi Tanabe Pharma Corporation, Osaka, Japan, has signed a two-year Research License Agreement granting the company access to use ExpreS2ion’s proprietary protein expression platform, ExpreS2 TM, in their Research and Development.
- On April 25, ExpreS2ion announced the co-authored publication in Cellular Microbiology with its Australian collaboration partner, The Walter and Eliza Hall Institute, demonstrating proof of concept in animals for a new potential breakthrough malaria vaccine, targeting a newly discovered malaria key to infection that was recently discovered by the group.
Telephone: +46 40-615 14 10
For further information about ExpreS2ion Biotech Holding AB, please contact:
Dr. Steen Klysner, CEO
Telephone: +45 2062 9908
This press release contains information that ExpreS2ion is obligated to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact person set out above on May 16, 2019.
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, that 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 300 proteins and 40 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 which was founded in 2017.