Dicot Pharma presents interim report Q3 2024

Uppsala, Sweden, October 31, 2024. Dicot Pharma AB publishes its interim report for the third quarter 2024. The report is available as an attached document and on the company's website www.dicotpharma.com.

Third quarter, July-September 2024

• Net sales amounts to SEK 0.0 (0.0) million
• Earnings after financial items amounts to SEK -10.2 (-8.5) million
• Earnings per share amounts to SEK -0.01 (-0.01)

“We are encouraged by the increasing interest in our company and drug development with each new milestone passed. The most recent example is the attention we garnered at SMSNA, North America’s largest conference in sexual medicine, where our in-depth phase 1 results were presented. The oversubscribed share issue in August is another clear sign of engagement in what we are working to realize. I believe our ability to deliver on our commitments plays a significant role and has helped build a strong foundation of trust”, says Elin Trampe, CEO.

Significant events during the quarter

• The unit issue in August was subscribed to 124%. The great interest meant that the over-allotment option was exercised in full. In total, Dicot Pharma received SEK 134.9 million before issue costs. The guarantors received no allocation, but all underwriters who had the opportunity chose to offset the underwriting compensation against units instead of cash compensation.
• A pre-IND meeting with FDA was successfully conducted, an important step toward a future market approval in the U.S.
• An application to start clinical phase 2a study with LIB-01 was made in July. The study will include app­rox. 140 participants at clinics in Sweden, Denmark, and the Netherlands.
• An extraordinary general meeting on August 1 mandated the board to execute the unit issue consisting of shares and warrants, including a directed issue to guarantors and a possibility to a smaller over-allotment. A long-term incentive program for manage­ment was also decided on.

Significant events after the quarter

• On October 21, Dicot Pharma announced that approvals to start the phase 2a clinical trial have been obtained from all relevant authorities. Preparations are complete, and participant screening, followed by dosing, will begin shortly. The study will start as previously scheduled. The clinical phase is expected to last until mid-2025, followed by statistical analysis before results can be reported.
• In October, Nasdaq Stockholm announced that Dicot Pharma meets the listing requirements for Nasdaq First North Growth Market Sweden, provided certain conditions. The first trading day will be November 7. The company’s securities will simultaneously be delisted from Spotlight Stock Market.
• In October, in-depth clinical results from the phase 1 study were presented by Dr. Harin Padma-Nathan at the largest U.S. conference in sexual medicine. The results will also be published in The Journal of Sexual Medicine.
• It was announced in October that the U.S. Patent and Trademark Office has issued Notices of Allowance for three of Dicot Pharma’s patent applications, including the active substance and key steps in its production.
• The strong outcome of the unit issue means that certain R&D activities linked to future development phases for the drug candidate LIB-01 will be brought forward. The financial situation also allows to initiate a preclinical development program in metabolic diseases.

For further information, please contact:

Elin Trampe, CEO                                              Björn Petersson, CFO
Phone: +46 72 502 10 10                                   Phone: +46 76 109 0000
E-mail: [email protected]                            E-mail: [email protected]

About Dicot AB

Dicot is developing the drug candidate LIB-01, which will be a potency agent to better treat erectile dysfunction and premature ejaculation. The ambition is to create a drug with significantly longer effect and far fewer side effects, compared to current available drugs. Today, over 500 million men suffer from these sexual dysfunctions and the market is valued at USD 8 billion. Dicot's strategy is to develop LIB-01 under own auspices until phase 2a studies and thereafter in partnership with larger, established pharmaceutical companies, finance and develop LIB-01 further to a registered pharmaceutical on the world market.

Dicot is listed on Spotlight Stock Market and has approximately 7,200 shareholders. For more information, please visit www.dicotpharma.com.

This is a translation from the Swedish original. In case of differences between versions, the Swedish version prevails.

This disclosure contains information that Dicot Pharma AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 31-10-2024 08:30 CET.