ExpreS2ion Biotech Holding AB: Publication of interim report for January – September 2019
ExpreS2ion Biotech Holding AB (“ExpreS2ion”) hereby publishes its interim report for the period January – September 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 Steen Klysner comments
“I note with satisfaction that the positive development in revenues reported in the first half year is maintained in the third quarter and is accompanied by continued progress in both existing and new collaborations.”
Third quarter (01/07/2019 to 30/09/2019)
- Group turnover amounted to 3,158 (2,173) KSEK, which is an increase of 45% compared to Q3 2018.
- Result after financial items amounted to -3,581 (-5,197) KSEK.
- Net income amounted to -2,944 (-4,698) KSEK.
- Net income per share* amounted to -0.22 (-0.39) SEK.
Nine months (01/01/2019 to 30/09/2019)
- Group turnover amounted to 10,218 (7,433) KSEK, which is an increase of 37% compared to Q1-Q3 2018.
- Result after financial items amounted to -12,139 (-12,749) KSEK.
- Net income amounted to -10,361 (-11,237) KSEK.
- Net income per share* amounted to -0.79 (-0.99) SEK.
- Cash flow from operating activities amounted to -10,878 (-9,690) KSEK.
- Equity ratio** amounted to 29.3 (47.6) %.
- Cash and cash equivalents amounted to 2,628 (9,758) KSEK.
Numbers in parenthesis are the numbers from the same period in 2018.
*The Group’s net income per share: The net income for the period divided with the average number of shares for the period. The average number of shares for Q3 2019 amounted to 13,602,015. For the period January to September 2019, the average number of shares amounted to 13,066,721. During Q2 2019 a directed share issue was registered which increased the number of shares by 1,600,000. As of 30/09/2019, the total number of shares in ExpreS2ion Biotech Holding AB was 13,602,015.
**Equity ratio: Shareholder’s equity divided by total capital.
Significant events during the third quarter of 2019
- On July 1, ExpreS2ion announced the signing of a non-exclusive license agreement with ERS Genomics, providing ExpreS2ion access to its ground-breaking CRISPR gene editing technology.
- On August 2, ExpreS2ion announced the Company’s first product launch within in vitro diagnostics (IVD), based on the ExpreS2 platform from its licensee Institut Virion\Serion.
- On September 23, ExpreS2ion announced that the Company has received a 1.6 MSEK order to perform development work as part of a Wellcome Trust funded malaria vaccine project.
- On September 26, ExpreS2ion announced that the Company brings forward the publication of its interim report for Q3 2019. The new date for publication is November 14, 2019. The purpose of this is to coordinate the publication of ExpreS2ion’s interim report for Q3 2019 with the Company’s planned participation in a major public investor event during the second half of November 2019.
Significant events after the end of the period
- On October 16, ExpreS2ion announced that the Company is increasing its working capital by securing a combination of a bridge loan and a loan facility of up to SEK 8 million in total. This will enable ExpreS2ion to further expand its business activities in line with the growth numbers reported for Q1 and Q2 2019.
- On October 17, ExpreS2ion announced that its joint venture company AdaptVac ApS (“AdaptVac”) has been awarded an InnoBooster grant by the Danish Innovation Foundation worth 0.8 MDKK (approx. 1.2 MSEK). The grant provides further resources for the development of a safe and effective treatment for dogs diagnosed with DER2+ cancer. The project will also generate supportive data for AV001, AdaptVac’s preclinical human HER2+ breast cancer program.
- On October 24, ExpreS2ion launched a new tailormade S2 cell line, HighMan-S2™, after several years of research and development. This is the first member of ExpreS2ion’s new functionally modified S2 product line, GlycoX-S2™, which utilises and expands the advantages of the ExpreS2 platform in the development of new, effective vaccines and immunotherapies.
Svensk Kapitalmarknadsgranskning AB
Telephone: +46 70 755 95 51
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 November 14, 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, 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. For additional information, please visit www.expres2ionbio.com and www.adaptvac.com.