Publication of interim report Q1 2024/2025
ODI Pharma AB (“ODI” or the “Company”) hereby publishes its interim report for the period July 2024 – September 2024. The report is available as an attached document to this press release and on the Company’s website (www.odipharma.com). Below is a summary of the report.
First quarter (2024-07-01 – 2024-09-30)
The Group's net sales amounted to SEK 143,793 (528,206).
The Group's profit after financial items amounted to SEK -1,468,183 (-1,442,544).
Result per share amounted to SEK -0,10 (-0.09).*
The solidity as of 2024-09-30 was 9% (15%).**
* The Company’s result per share: The result for the period divided by the number of shares at the end of the period. The total number of shares as of 30tht of September 2024, amounted to 15,220,000 (15,220,000) shares. The result per share based on the average number of shares of 15,220,000 (15,220,000) amounts to SEK -0.10 (-0.09) for the first three months 2024-07-01 to 2024-09-30.
** Solidity: Equity divided by total capital.
Highlights during the fourth quarter
No significant highlights during the period.
Highlights after the end of the fiscal year
- On October 30, 2024, the Board of Directors of ODI Pharma resolved to carry out an issue of shares with preferential right for the Company's existing shareholders. The decision is subject to approval at the Extraordinary General Meeting scheduled to be held on November 19, 2024. The issue volume amounts to a maximum of approximately SEK 4.1 million before transaction related costs. In the case of oversubscription ODI can also decide to utilize an over-allotment (the "Over-Allotment") to raise up to approximately additionally SEK 2.0 million through the rights issue. The Company has no obligation to utilize the Over-Allotment. The decision on the Rights Issue is secured via pre-subscription in writing by Volker Wiederrich and the existing shareholder Niclas Kappelin to a total of approximately 49 percent.
- On October 30, 2024, ODI proposed to elect Malcolm Allan as new member of the Board of Directors of ODI Pharma at the extraordinary general meeting on November 19, 2024.
- On November 12, 2024, ODI announced the appointment of Jan-Mark Edewaard as the new CEO of ODI as of January 1, 2025. Current CEO, Derek Simmross, will remain in his role until January 1, 2025.
- On November 19, 2024, an Extraordinary General Meeting was held in ODI Pharma AB ODI. All resolutions were passed with the required majority, including approval of the Board's resolution on a rights issue of shares, the Board's proposal for a resolution on authorization to decide on share issues, and the election of Malcolm Allan as a new Board member.
For more information on ODI Pharma, please contact:
Volker Wiederrich, Chairman, ODI Pharma AB
E-mail: [email protected]
ODI Pharma AB
ODI Pharma, based on its European network, subsidiaries and affiliates, is a producer and representative of finished pharmaceutical cannabis products with a focus on distribution to the medical cannabis market in Europe through its subsidiary ODI Pharma Polska Sp. z o.o. ODI Pharma intends to provide a high-quality product at a competitive price compared to competitors in Poland, thereby becoming the number one provider of medical cannabis in Poland. ODI Pharma also strives to be on the forefront of understanding the medical applications of the product as well as introducing new, innovative products to the European patients in need. The Company will continue to team up with the most knowledgeable and best renown partners in the industry to achieve its goals.