Second quarter report Q2-2021 - planning for the pivotal trials
Cessatech A/S (“Cessatech” or the “Company”) today releases its results for the period 1 April – 30 June 2021. The second quarter 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 planned activities, has completed recruitment for the bioavailability trial 0204 and is ready to initiate recruitment of trial 0206 - a trial to investigate the pharmacokinetics in children aged 1-17 undergoing elective surgical procedures.
Second quarter 2021 (1 April – 30 June):
- Net revenue was KDKK 0
- Operating result was KDKK -3,088
- Net result was KDKK -2,641
- Cash at bank end of the period was KDKK 9,465
- Earnings per share* was KDKK -0,72
- Solidity** was 88%
*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 30 June 2021 amounted to 3,680,000 shares, the average number of shares during the second 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 second quarter 2021
- Completed recruitment for trial 0204, final results expected end of the year
- Ready to initiate recruitment for trial 0206
- Preparing for the pivotal trial 0205
- Initiated formulation activities of CT002
- Awarded IPO of the year by Affärsvälden
- Continue to build the organization to lead the development of CT001
- Appointed Adam Steensberg as Chairman of the Board
“The second quarter of 2021 has focused much on clinical activities, with coordinating and executing three (3) clinical trials in parallel - in particular preparing for the pivotal trial 0205 with more than 220 patients has been a major effort, more will continue in Q3 and Q4. The Company was awarded IPO of the year by Affärsvälden, which was another recognition of our hard work and we are proud to have initiated early formulation activities for our second product candidate CT002 - the outlook is really positive for the Company and it looks like 2021 will be a promising year” says Jes Trygved, CEO
