Interim Report First Quarter 2019
STENOCARE A/S (“STENOCARE”) today announces its results for the period 01.01.2019 – 31.03.2019. The report is available on www.stenocare.dk/investor/EN.
Thomas Skovlund Schnegelsberg, CEO of STENOCARE, comments:
“STENOCARE had a good start to the fiscal year 2019. The quarter includes a positive net operating profit. The reason for this is that we have not yet started the operations in our production facility and therefore we don’t have the expenses we initially calculated. We are eager to commence the first stage cultivation at the facility in Denmark and to start exploring international markets.”
First quarter (January 1 – March 31, 2019)
- Net sales amounted to KDKK 4,317 (0).
- Operating profit was KDKK 1,524 (-1,016).
- Net financial items amounted to KDKK 6 (0).
- Result per share was DKK 0.13 (-0.18).
- Solidity was 91 % (67).
The Company’s result per share: The result for the period divided by the average number of shares. Total number of shares as of 31 March 2019, amounted to 6,784,762 (5,681,818*). Average number of shares for the first quarter 2019 was 6,784,762 (5,681,818*).
Solidity: Equity divided by total capital.
*Adjusted for a reversed split in connection with the IPO.
Highlights during the period
- On February 7, 2019, STENOCARE announced its achievement of delivering more than 2,100 treatments during September to December 2018 and therefore met and exceeded its stated objective.
- March 2019, STENOCARE announced that its products are being used in patient treatments and clinical trials at Rigshospitalet Multiple Sclerosis Center.
- March 2019, STENOCARE announced that the Company is awaiting export certificates from the Canadian authorities and is ready to start its own cultivation and production shortly.
Highlights after the period
- April 2019, the Company announced that its major shareholders plan to nominate Mr. Ian Abramowitz to the Board of Directors, further strengthening its international cannabis expertise.
- April 2019, STENOCARE announced that the Company is officially nominated for “IPO of the Year 2018” by Swedish SvD BörsPlus.
For additional information regarding STENOCARE, please contact:
Thomas Skovlund Schnegelsberg, CEO
Phone: +45 31770060
About STENOCARE A/S
STENOCARE A/S was founded in 2017 with the purpose of being an active participant in the Danish medical cannabis pilot programme. The company was first to receive the Danish Medicines Agency's permission to import, distribute as well as cultivate and produce medical cannabis. The company offers medical cannabis oil that comply with the strict Danish regulatory requirements. STENOCARE will also develop a separate production facility for the cultivation and production of medical cannabis at the company’s premises in Jutland, Denmark.