Half-year report July 1, 2021 – December 31, 2021

15 February, 2022

By “Company” or “DexTech” is meant DexTech Medical AB with organization number 556664-6203.

Summary of the Second Quarter (2021-10-01 – 2021-12-31)

  • Net sales amounted to MSEK 0,0 (0,0)
  • Operating profit/loss amounted to MSEK -1,1 (-1,6)
  • Earnings per share* SEK -0.08 (-0.10)

* Before dilution. Earnings per share: Profit for the period divided by the average number of shares 14,920,478. For the comparison period, the average number of shares was 14,920,478. Amounts in brackets refer to the corresponding period last year.

Summary of the First Half-year (2021-07-01 – 2021-12-31)

  • Net sales amounted to MSEK 0,0 (0,0)
  • Operating profit/loss amounted to MSEK -2,1 (-3,1)
  • Earnings per share* SEK -0.14 (-0.21)
  • Cash and cash equivalents at the end of the period amounted to MSEK 2,3 (4,8)

* Before dilution. Earnings per share: Profit for the period divided by the average number of shares 14,920,478. For the comparison period, the average number of shares was 14,920,478. Amounts in brackets refer to the corresponding period last year.

CEO’s comment

During December 2021, DexTech carried out a rights issue that provided the Company with approximately SEK 46.3 million before issue costs of SEK 9.2 million. The purpose of the new share issue was to finance a Multiple Myeloma study with the Company’s drug candidate OsteoDex and the continued research and development work. We are pleased with the trust from existing and new shareholders that gives the company the opportunity to implement the Company’s development plans.

Extensive pre-clinical studies at Karolinska Institutet in Stockholm have shown that OsteoDex has a strong tumor cell killing effect that has been shown in several different myeloma cell cultures. Potent cytotoxic effect is seen already at very low OsteoDex concentrations. The observed effect is superior to that of Melphalan, a drug that is still being used as first-line therapy in the treatment of multiple myeloma. OsteoDex’s clinical results with mild side effects and the biological similarities of myeloma with castration-resistant prostate cancer make OsteoDex a very promising candidate for the treatment also of multiple myeloma. A study protocol is now being prepared. The study is planned to be conducted at approximately five hospitals in Scandinavia and involve approximately 20 selected patients with multiple myeloma. The study will provide evidence that OsteoDex is suitable for the treatment of myeloma (so-called proof of concept) and thereby further verify OsteoDex’s high value as a potential cancer drug. The global market for multiple myeloma is expected to grow to approximately US $ 31 billion by 2026, which is more than twice as large as that of the CRPC.