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FluoGuide A/S publishes interim report for the period January – September 2020

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Copenhagen, Denmark, 20 November 2020 – FluoGuide A/S (“FluoGuide” or the “Company”) today releases its results for the period 1 January – 30 September 2020. The interim report is available as an attached document to this press release and on  https://fluoguide.com/investor/filings-reports/.

Third quarter 2020 (1 July – 30 September):

  • Net revenue was KDKK 0 (0)
  • Operating result was KDKK -3,123 (-5,057)
  • Net result was KDKK -2,299 (-4,047)
  • Cash and bank was KDKK 18,214 (9,630)
  • Result per share* was DKK -0.22 (-0.56)
  • Solidity** was 50% (65%)

First nine months 2020 (1 January – 30 September):

  • Net revenue was KDKK 0 (0)
  • Operating result was KDKK -13,629 (-6,842)
  • Net result was KDKK -10,963 (-6,540)
  • Cash and bank was KDKK 18,214 (9,630)
  • Result per share* was DKK -1.15 (-1.05)
  • Solidity** at end of the period was 50% (65%)

*) 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 September 2020 totaled 10,530,026 shares (7,224,274). The average number of shares for the third quarter 2020 was 10,530,026 shares (7,224,274). The average number of shares for the period 1 January – 30 September 2020 was 9,552,070 shares (6,225,927). 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 Q3

  • Submitted the Clinical Trial Application for the phase I/II proof-of-concept clinical trial for FG001 in patients with glioblastoma undergoing surgery
  • FluoGuide A/S and LI-COR Biosciences signed an agreement to develop uPAR targeted products to guide oncology surgery using LI-COR’s proprietary next-generation fluorophore IRDye 800CW
  • Obtained regulatory approval from the Danish Medicines Agency to commence the phase I/II clinical trial with FG001 in patients with high grade glioma (including glioblastoma) undergoing surgery
  • Appointed Henrik Moltke as Chief Financial Officer

Highlights after Q3

  • FluoGuide was awarded a post doc grant to expand the pipeline
  • First patient enrolled in the phase I/II clinical trial testing FG001 in patients with high grade glioma (including glioblastoma) undergoing surgery

“The transformation of FluoGuide to a clinical stage company is a major achievement and we are already looking forward to the next transformation of becoming a company with a broader pipeline and a product candidate in late stage clinical development.” Says  Morten Albrechtsen, CEO and continues: “Bringing products to the market that help patients while distributing the benefits fairly between our stakeholders is what drives us”

 

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 undertaking a proof-of-concept clinical trial (phase I/II) to demonstrate the effect of FG001 in patients with high grade glioma including 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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cancer Surgery FluoGuide FLUO

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