FluoGuide A/S publishes interim report for the period January – June 2022
Copenhagen, Denmark, 25 August 2022 – FluoGuide A/S (“FluoGuide” or the “Company”) today releases its results for the period 1 January – 30 June 2022. The Q2 report is available as an attached document to this press release and on FluoGuide’s website. lFilings & reports - FluoGuide A/S
In H1 2022, FluoGuide reached a major milestone in the clinical development showing that FG001 is very well tolerated and FG001 illuminates aggressive brain cancer. This has significantly de-risked FG001.
FluoGuide had no revenue for the period and therefore posted a net loss of KDKK -9,702 for the period 1 January to 30 June 2022 (-7,778). The financial result for the period is in line with the Company's development plans. It is the Board’s opinion that FluoGuide, unlike many other life science companies, may have a comparatively short time from the initiation of product development to revenue generation.
| Summary | Q2 22 | Q2 21 | H1 22 | H1 21 | 2021 |
| 01-apr-22 | 01-apr-21 | 01-jan-22 | 01-jan-21 | 01-jan-21 | |
| (KDKK) | 30-jun-22 | 30-jun-21 | 30-jun-22 | 30-jun-21 | 31-dec-21 |
| Net Revenue | |||||
| Operating result | -7.514 | -6.034 | -12.942 | -10.233 | -28.809 |
| Net result | -5.749 | -4.437 | -9.702 | -7.778 | -23.770 |
| Cash and bank | 39.136 | 49.712 | 39.136 | 49.712 | 46.758 |
| Result per share (DKK) *) | -0,50 | -0,40 | -0,83 | -0,72 | -2,15 |
| Solidity (%) **) | 92% | 82% | 92% | 82% | 73% |
| Avarage shares for the period | 11.435.000 | 10.963.803 | 11.625.798 | 10.748.113 | 11.036.155 |
a *) Result per share (DKK per share): Operating result divided by the average number of shares during the period. .
**) Solidity: Total equity divided by total capital and liability.
HIGHLIGHTS DURING Q2
- FluoGuide announces positive top line result from the first part of the ongoing clinical phase I/II trial testing the safety and performance of FG001 in lightening up aggressive brain cancer
- Presentation of clinical data on FG001 at the 68th Scandinavian Neurosurgical Society Congress held 14-16 May 2022 in Bergen, Norway
- FluoGuide published interim report for the period January – March 2022 on 31 May 2022
HIGHLIGHTS AFTER Q2HI
- Investor presentations in second half of 2022
- A publication of clinical data that shows uPAR is highly expressed Head and Neck cancer
- Submitted CTA to initiate phase IIa in Head and Neck cancer
Update on FluoGuide clinical programs
Morten Albrechtsen, CEO says: “FluoGuide reached a major milestone in its development in H1 2022, with the exciting data from our phase I/IIa trial of FG001 in aggressive brain cancer, as it makes it significantly more likely that FG001 will become a commercial product”
For further information, please contact:
Morten Albrechtsen, CEO,
FluoGuide A/S
+45 24 25 62 66,
ma@fluoguide.com
Certified Adviser:
Svensk Kapitalmarknadsgransking AB
Phone: +46 70 755 95 51
E-mail: ca@skmg.se
About FluoGuide
FluoGuide’s primary focus is to maximize surgical outcomes in oncology. The Company’s lead 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, the improved precision will improve a patient’s chance of achieving a complete cure and will lower system-wide healthcare costs. The Company is has demonstrated efficacy of F001 as well as it to be well tolerated and safe in the ongoing proof-of-concept clinical study (phase I/II) in patients with high grade glioma undergoing surgery. FluoGuide has decided to explore FG001 in three other severe cancer indications, namely lung, head & neck, meningioma and low grade glioma. FluoGuide is listed on Nasdaq First North Sweden under the ticker “FLUO”.
For more information on the Company’s uPAR technology platform and our pipeline please visit our home page www.fluoguide.com