First quarter report Q1-2022 - preparing for the pivotal trial

Cessatech A/S (“Cessatech” or the “Company”) today releases its results for the period 1 January – 31 March 2022. The first quarter report is available as an attached document to this press release and on www.cessatech.com under Investor/Filings & Reports. The company is progressing with planned activities: Recruitment of trial 0206 is nearly complete (a trial to investigate the pharmacokinetics in children aged 1-17 undergoing elective surgical procedures) and we are currently finalising the preparation for the initiation of our pivotal trial with CT001 (0205). We anticipate trial 0205 to start recruitment during Q2 2022.

First quarter 2021 (1 January - 31 March):

• Net revenue was KDKK 0 
• Operating result was KDKK -3.736 
• Net result was KDKK -3.045
• Cash at bank end of the period was KDKK 21.204 
• Earnings per share* was KDKK -0,50
• Solidity** was 95%

*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 2022 amounted to 6.112.535 shares, the average number of shares during the first quarter was 6.112.353
There has been an increase in the number of shares in Q4 2021 related to the exercise of warrant TO 1. 
**Solidity: Total equity divided by total capital and liability.

Highlights during first quarter 2022

• Successful topline results of clinical trial 0204 investigating the absolute bioavailability of CT001 showed clinical relevant exposures following nasal administration
• Very good progress with trial 0206 (pharmacokinetic trial in children)
• Annual General Meeting, including the appointment of Rachel Curtis Gravesen to the Board of Directors  
• Continue to build the organisation to execute the final development of CT001

“During the first quarter of 2022 we have nearly finalised the recruitment in our Phase 2 (0206)  pharmacokinetic study with CT001, and importantly we announced Topline results of clinical trial 0204 investigating the absolute bioavailability of CT001 showed clinical relevant exposures following nasal administration. We are still pending formal approval of trial 0205 from regulatory authorities and we expect to start this study during Q2. We have been off to a good start of 2022 and anticipate a very exciting year for the Company.“ says Jes Trygved, CEO