FluoGuide A/S publishes interim report for the period January - June 2020

Copenhagen, Denmark, 14 August 2020 – FluoGuide A/S (“FluoGuide” or “the Company”) today releases its results for the period 1 January – 30 June 2020. The report is available on https://fluoguide.com/investor/filings-reports/.

“The latest development in share price sets the expectations high which we do our outmost to deliver on. I wish to thank our shareholders for their commitment to, and belief in FluoGuide.” says Morten Albrechtsen, CEO

Result for second quarter 2020 (1 April – 30 June 2020):

  • Net revenue was KDKK 0 (0)
  • Operating result was KDKK -6,583 (-1,343)
  • Net result was KDKK -5,576 (-1,540)
  • Cash at bank at end of the period was KDKK 23,018 (11,259)
  • Result per share* was DKK -0,55 (-0,23)
  • Solidity** at end of the period was 51% (94%)

*) Result per share (DKK per share): Operating result divided by the average number of shares during the period. The total number of shares as of 30 June 2020 totaled 10,530,026 shares (7,224,274). The average number of shares for the second quarter 2020 was 10,057,605 shares (6,692,800). The average number of shares for the first half of 2020 was 9,057,719 shares (5,718,480). The average number of shares for the period from 1 January 2019 to 31 December 2019 was 6,477,565 (688,179).

**) Solidity: Total equity divided by total capital and liability. 

Highlights during Q2 

  • FluoGuide published its annual report for the financial year 2019. The report is available on the Company's website (www.fluoguide.com).
  • Warrants of series TO 1 subscribed at 100% 
  • FluoGuide secures a pipeline of uPAR targeting molecules
  • The Company held its Annual General Meeting.  A summary of the resolutions is available on the Company's website (www.fluoguide.com).
  • FluoGuide was awarded Best IPO in 2019 by the independent IPO Guide
  • FG001 successfully completed all toxicity studies 
  • FluoGuide was selected as a top innovator and awarded €2.5 million by the European Innovation Council
  • Hired Dorthe Grønnegaard Mejer as Vice President of Clinical Development

Highlights after Q2 

  • Submitted the Clinical Trial Application for phase I/II proof-of-concept clinical trial for FG001 in patients with glioblastoma undergoing surgery
  • FluoGuide A/S and LI-COR Biosciences sign agreement to develop uPAR targeted products to guide oncology surgery using LI-COR’s proprietary next-generation fluorophore IRDye 800CW

For further information, please contact:
Morten Albrechtsen, CEO
M: +45 24 25 62 66
ma@fluoguide.com

About FluoGuide
FluoGuide’s primary focus is to maximize surgical outcomes in oncology. The Company’s first product, FG001, is designed to improve surgical precision by illuminating cancer cells intraoperatively. The improved precision enabled by FluoGuide’s products has a dual benefit – it reduces both the frequency of local recurrence post-surgery and lessens surgical sequelae. Ultimately, these improvements will improve a patient’s chance of achieving a complete cure and will lower system-wide healthcare costs. The Company is planning a proof-of-concept clinical study (phase I/II) to demonstrate the effect of FG001 in patients with glioblastoma.

This project has received funding from the European Union’s Horizon 2020 research and innovation program under grant agreement No 954904.

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About Us

FluoGuide A/S develops surgical solutions that is expected to reduce suffering for the patient and increases the likelihood of cure as well as reducing costs for the health care system. The first product is the compound FG001, which lights up the cancer and its invasive growth into the surrounding tissue. Preclinical studies have demonstrated the potential of FG001 to vastly improve the likelihood of performing radical surgery (removal of all cancer) and thereby improving outcome and survival. FluoGuide is initially focused on glioblastoma (brain tumor) but the Company plan to expand its business to other solid tumors. Market launch of FG001 in a first country is expected in 2022/2023.

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