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FluoGuide A/S publishes Year-end report for 2020

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Copenhagen, Denmark, 26 January 2021  – FluoGuide A/S (“FluoGuide” or the “Company”) today releases its results for the period 1 January – 31 December 2020. The Year-end report is available as an attached document to this press release and on www.fluoguide.com under ‘Filings & reports’. The Year-end report report is also available on Spotlight Stock Market (www.spotlightstockmarket.com)

Fourth quarter 2020 (1 October – 31 December):

  • Net revenue was KDKK 0 (0)
  • Operating result was KDKK -8,532 (-3,700)
  • Net result was KDKK -6,497 (-3,113)
  • Cash and bank was KDKK 10,637 (2,344)
  • Result per share* was DKK -0.62 (-0.43)
  • Solidity** was 26% (87%)

Full year 2020 (1 January – 31 December):

  • Net revenue was KDKK 0 (0)
  • Operating result was KDKK -22,161 (-10,645)
  • Net result was KDKK -17,460 (-9,653)
  • Cash and bank was KDKK 10,637 (2,344)
  • Result per share* was DKK -1.78 (-1.49)
  • 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 31 December 2020 totaled 10,530,026 shares (7,224,274).  The average number of shares for the fourth 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 Q4

  • FluoGuide was awarded a post doc grant from Innovation Fund Denmark to expand the pipeline
  • First patient was enrolled in the phase I/II clinical trial testing FG001 in patients with high- grade glioma
  • SEB initiates initiated commissioned research on FluoGuide
  • FluoGuide received green light to proceed to second dose level with FG001 in the ongoing clinical phase I/II trial in patients with high-grade glioma

Highlights after Q4

  • FluoGuide gets green light to proceed to third dose level with FG001 in the ongoing clinical phase I/II trial in patients with high-grade glioma
  • FluoGuide A/S ("FluoGuide" announces that the chairman of the Board of Directors, Arne Ferstad, will not stand for re-election at the upcoming Annual General Meeting

“Forth quarter was a game changer for FluoGuid, with FG001 administered to the first patients undergoing surgery for high-grade glioma, and demonstrated FG001 was well tolerated and light up cancer.” Says  Morten Albrechtsen, CEO.

Morten Albrechtsen, CEO

FluoGuide A/S

+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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