Xspray Pharma publishing Interim Report Q2, January-June 2018
“The second quarter involved continued intensive work for Xspray, primarily in-house. We executed the planned additions to our organization through successful recruitment work. I’m really satisfied with the competences the company has succeeded in bringing in. We improved all core competences necessary for late-stage drug development including regulatory affairs, quality and process validation.”
Per Andersson, CEO Xspray Pharma AB (publ)
Second quarter, April-June 2018
Figures in brackets are for the corresponding period of the previous year.
• Profit/loss before tax was SEK –6,789,000 (681,000).
• Net sales were SEK 0 (143,000)
• Earnings per share were SEK –0.50 (0.11).
• Cash flow from operating activities was SEK –4,343,000 (817,000).
• The Swedish Medical Products Agency granted Xspray Pharma a permit to execute a previously announced study on the formulation of the company’s product candidate HyNap-Dasa, which will be conducted as planned in the third quarter.
• The Chairman of Xspray Pharma’s Board, Michael Wolff Jensen, sold 4,000 shares in the period to cover Danish capital gains tax on unrealized gains from Xspray Pharma.
First half-year, January-June 2018
Figures in brackets are for the corresponding period of the previous year.
• Profit/loss before tax was SEK –8,384,000 (–5,652,000).
• Net sales were SEK 0 (212,000).
• Earnings per share were SEK –0.61 (–0.89).
• Cash flow from operating activities was SEK –7,606,000 (–6,651,000).
• Cash and cash equivalents were SEK 171,815,000 (12,024,000) at the end of the period.
• Total equity amounted to SEK 230,098,000 (40,822,000).
• Xspray Pharma executed a private placement of 1,350,000 shares, raising some SEK 88 m before issue expenses, to expand its product portfolio.
• The company hired Charlotta Liljebris as its new VP of Research & Development.
Events after 30 June 2018
• Xspray Pharma and NerPharMa delivered study materials to the clinical HyNap-Dasa trial, which then initiated. The preliminary results are expected during the third quarter of 2018.
For further information, please contact:
Per Andersson, CEO, Xspray Pharma AB (publ)
Mobile: +46 (0)706 88 23 48
E-mail: per.andersson@xspray.com
About Xspray Pharma
Xspray Pharma AB (publ) is a product development company with several product candidates under clinical development. Xspray uses its innovative RightSize-technology in order to develop improved and generic versions of already marketed cancer drugs, primarily protein kinase inhibitors (PKI), for treating cancer. The segment is the second largest within the oncology department and the drug prices are very high. Through its innovative technology, Xspray can enter the market as first competitor to the original drugs available today without the hindrance of secondary patents. Xspray’s goal is to have up to seven products ready for launch on the American market, with a first product launched at the latest by 2021. The company has patents on production technology, equipment and the resulting products. The shares in Xspray Pharma (publ) are traded on Nasdaq First North Stockholm and Redeye is the Certified Adviser for the company.
Xspray Pharma AB (publ)
Gunnar Asplunds Allé 32
171 63 Solna