ExpreS2ion Biotech Holding AB: Publication of financial report for January – March 2018
ExpreS2ion Biotech Holding AB (“ExpreS2ion”) hereby publishes financial report the period of January – March 2018. The report is available as an attached document to this press release and on the Company’s website (www.expres2ionbio.com). Below is a summary of the report.
Q1 (2018-01-01 – 2018-03-31)
- Group turnover amounted to 2 278 (3 614) KSEK.
- Result after financial items amounted to -3 451 (-1 218) KSEK.
- Net income amounted to -3 217 (-1 109) KSEK.
- Net income per share* amounted to -0,32 (-0,13) SEK.
- Cash flow from operating activities amounted to -2 996 (-3 987) KSEK.
- Equity ratio** amounted to 64,2 (52,5) %.
- Cash and cash equivalents amounted to 17 775 (2 460) KSEK
* The group’s net income per share: the net income for the period divided by 10 135 035, the average number of shares for the period. The total number of shares in ExpreS2ion Biotech Holding AB was 12 002 015 shares per 2018-03-31.
** Equity ratio: Shareholder’s equity divided by total capital.
Significant events during the first quarter 2018
- On January 16, 2018, ExpreS2ion Biotech Holding AB announced that the Board decided, pursuant to the authorisation granted by an Extraordinary General Meeting, to carry out a preferential rights issue with the aim to accelerate the Company's development. The preferential rights issue comprises a maximum of 2 400 403 shares with a subscription price of 8.00 SEK per share. Upon full subscription of the rights issue, ExpreS2ion will raise approximately MSEK 19.2 before issue expenses. The proceeds from the preferential rights issue are expected to finance ExpreS2ion’s possibilities to pursue additional projects regarding vaccines and candidate drugs that the Company regularly encounter on the market. In addition to this, the preferential rights issue will provide resources to create more value in the joint venture AdaptVac and its development projects. Finally, the preferential rights issue will finance further development of the Company’s platform with new products that will strengthen the Company's position in new market segments and generate new clients, thereby increasing the Company's short-term earnings as well as long-term possibilities.
- On February 1, 2018, ExpreS2ion Biotech Holding AB held an extraordinary general meeting. The report is available on the Company’s website (www.expres2ionbio.com).
- On March 2, ExpreS2ion Biotech Holding AB announced the result of the Company’s preferential share issue. The rights issue was subscribed to approximately SEK 30.3 million, corresponding to a subscription rate of approximately 158 percent. Through the rights issue, a total of 2 400 403 shares are issued and ExpreS2ion is provided approximately SEK 19.2 million before issuing costs.
Significant event after the end of the period
- On April 20, ExpreS2ion Biotech Holding AB announced that the subsidiary’s U.S.-based partner and licensee Integrated BioTherapeutics (“IBT”) has initiated sales and marketing of its first ExpreS2-based product. It was also stated that IBT is planning to launch approximately five products for research purposes annually, and that the collaboration is expected to generate annual revenues of up to 1 MSEK to ExpreS2ion, when fully implemented.
CEO Steen Klysner comments
“In the first quarter of 2018, ExpreS2ion was able to build further upon the fast-paced development and progress of the Company since our listing on Nasdaq First North in 2016, including a very strong 2017. All in all, we are indeed continuing to develop the Company at full speed towards the goals presented in connection with the recent rights issue, and I look forward to fully realise them in due time.”
|Annual General Meeting, 2018||2018-05-24|
|Half year Report, 2018||2018-08-24|
|Interim report Q3, 2018||2018-11-22|
|Year-end report, 2018||2019-02-28|
Sedermera Fondkommission is appointed as Certified Adviser for ExpreS2ion Biotech Holding AB.
For further information about ExpreS2ion Biotech Holding AB, please contact:
Dr. Steen Klysner, CEO
Telephone: +45 2062 9908
This press release contains information that ExpreS2ion Biotech Holding AB is obligated to make public pursuant to the Securities Markets Act. The information was submitted for publication through the agency of the contact person set out above on May 17th, 2018.
ExpreS2ion Biotechnologies ApS is a fully owned Danish subsidiary of ExpreS2ion Biotech Holding AB with company register number 559033-3729. The subsidiary has developed a unique proprietary platform technology, ExpreS2, which can be used for fast and efficient preclinical and clinical development as well as robust production of complex proteins for new vaccines and diagnostics. Since the Company was founded in 2010, it has produced more than 250 proteins and 35 virus-like particles (VLPs) in collaboration with leading research institutions and companies, demonstrating superior efficiency and success rates. In addition, ExpreS2ion develops novel VLP based vaccines through the joint venture AdaptVac ApS that was founded in 2017.