First quarter report Q1-2021 - ‘one down, two to go’ of the major milestones of 2021
Cessatech A/S (“Cessatech” or the “Company”) today releases its results for the period 1 January – 31 March 2021. The report is available as an attached document to this press release and on www.cessatech.com under Investor, ‘Filings & Reports’. The company is on track with Q1 activities, has initiated the bioavailability trial 0204 and was awarded best medical IPO in 2020 in the Nordics.
First quarter 2021 (1 January – 31 March):
- Net revenue was KDKK 0
- Operating result was KDKK -2,863
- Net result was KDKK -2,458
- Cash at bank was KDKK 11,148
- Earnings per share* was KDKK -0,67
- Solidity** was 98%
*Earnings 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 March 2021 amounted to 3,680,000 shares, the average number of shares during the first quarter was 3,680,000. There has been an increase in the number of shares since the completion of the IPO in December 2020..
**Solidity: Total equity divided by total capital and liability
Highlights during Q1-2021
- Published favourable data from the Registry Safety Study (0203)
- Awarded Best Medical Treatment IPO Nordics in 2020 by independent editorial
- Reported first subject dosed in bioavailability trial 0204 of lead product candidate
- Clinical submissions finalized for trial 0206, ready for Q2-2021 initiation
- Building the organizational team to lead the final development of CT001
“The first quarter of 2021 was the follow up from many of the initiated activities in Q4’2021 and earlier years - in particular the very important top line result of the Registry Safety Study (0203) and the initiation of trail 0204. We tend to forget that safety is actually often more important than efficacy when it comes to children, and the study 0203 results confirms that CT001 could be much easier to apply in any hospital setting as ‘No serious adverse events were reported’ - the outlook is really positive for CT001. We have 2 major milestones left for 2021 - the results of trial 0204 and trail 0206 - this will be an exciting year.” Says Jes Trygved, CEO
