2cureX publishes interim report for the first quarter of 2023
2cureX AB (“2cureX”) hereby publishes the interim report for the first quarter of 2023. The interim report is available as an attached document as well as on the company’s website (https://www.2curex.com). A short summary of the report follows below.
CEO Fernando Andreu comments:
“EXECUTING ON OUR PLANS
Q1 2023 has been a promising start for us at 2cureX. We generated revenue of KSEK 794 from primarily grants, tested 18 patient samples, and expanded our commercial pipeline by adding 26 new hospitals, bringing the total to over 170. The IGNITE program also grew, enrolling three more hospitals adding up to a total of 27. Our efforts have paid off.
Geographically, we focused on training our newly appointed distributors in Switzerland and Austria. To broaden our reach we aim to expand into five additional European markets, achieving a total of 25 countries by the end of 2023.
Grants continue to play an important role in our success. We received (a 1.0 million EUR grant) to co-develop an automated system for handling 3D-micro-tumors, advancing the adoption of our IndiTreat® test system. Another grant of 1.5 million DKK supports the development of IndiTreat® Neo, benefitting patients with early-stage colorectal cancer.
Passing the ISO 13485 audit and preparing for IVD-R compliance ensures our commitment to quality. Our updated Specimen Collection Set enhances preservation and ease of shipment, aligning with new regulations.
With progress in product development, commercial expansion, and regulatory adaptation, we are optimistic about 2023. Our motivated team is confident in achieving our goals, making this a pivotal year for 2cureX. We sincerely appreciate your continued support.
FINANCIAL HIGHLIGHTS
The financial development is in line with our plans and expectations, and with a cash position of SEK 34.8 million at the end of Q1 2023, our capital resources can support the current activities and growth plans into Q2 2024.”
First quarter of 2023 (2023-01-01 until 2022-03-31) – the group
Net turnover for the period was 13 KSEK (0 KSEK).
Other operating income was 781 KSEK (434 KSEK)
The result before tax was 7 575 KSEK (-7 897 KSEK)
The result per share* was -0.43 SEK (-0.45 SEK)
The solidity** was 92 % (96 %).
The cash and bank were 34 829 KSEK (63 648 KSEK).
*Earnings per share: Profit for the period divided by the average number of shares. Average number of shares in first quarter of 2023: 17 602 916 shares. Total number of shares in 2cureX AB on March 31st, 2023: 17 602 916 shares.
**Equity ratio: Shareholder’s equity divided by total capital.
Significant events during the first quarter 2023
January:
2curex announces final results regarding 2022 goals
2curex sends notice to attend the extraordinary general meeting for the election of new board member
February:
2curex hosts webcast on Year-End Report and latest news
2curex publishes interim report for the fourth quarter and full year of 2022
March:
2curex announces launch of updated Specimen Collection Set
Significant events after the period
April:
2curex strengthens its IndiTreat® automation project with a prestigious grant from the german federal ministry of education and research
2curex hosts a Q1 update and Q&A session
2curex presents preliminary Q1 2023 commercial results
2curex publishes the annual report for the fiscal year 2022
2curex’s CEO Fernando Andreu purchases shares in the company
2curex provides notice of annual general meeting of 2curex AB
May:
2curex announces positive IndiTreat trial results published in highly recognized scientific journal
