Interim report July 1 – September 30, 2019
24 October, 2019
By “Company” or “DexTech” is meant DexTech Medical AB with organization number 556664-6203.
First Quarter Summary (July – September 2019)
- Net sales amounted to MSEK 0,0 (0,0)
- Operating profit/loss amounted to MSEK -2.0 (-1.9)
- Earnings per share * SEK -0.13 (-0.13)
- Cash and cash equivalents at the end of the period amounted to MSEK 8,2 (0.0)
* Before and after dilution. Earnings per share: Profit for the period divided by the average number of shares 14,887,678. For the comparison period, the average number of shares was 14,752,833. Amounts in brackets refer to the corresponding period last year.
In the beginning of October 2019, DexTech could present promising follow-up results from the company’s Phase IIb study on OsteoDex for the treatment of advanced prostate cancer, castration-resistant metastatic prostate cancer (mCRPC), and patients are followed 24 months after discontinuing OsteoDex treatment. End point is information about whether the patient is alive or dead (dead / alive). The last patients will be reported in June 2020. The results as of October 14 show the following: of patients who had stable (unchanged) disease with skeletal metastasis at the end of treatment 58%, of patients who discontinued or discontinued treatment with progressive disease (progressive disease development) ) live 48%, and of patients who had objective skeletal metastases (reduction of existing skeletal metastases) at the end of treatment, 86% live. The results indicate prolonged survival after OsteoDex treatment.
The complete clinical study report (CSR) from the phase IIb study for OsteoDex was completed in December 2018 and the last patient was completed in June 2018. The study conducted in Sweden, Finland, Estonia and Latvia included 55 well-defined patients with castration-resistant prostate cancer with skeletal metastases ( mCRPC).
The results obtained show that OsteoDex acts as a brake medicine for metastatic castration-resistant prostate cancer. The OsteoDex treatment slowed down the course of the disease in the skeleton of the majority of patients who underwent the entire treatment (5 months) and the study also confirmed a very high tolerability.
During the summer of 2019, DexTech carried out a rights issue which in July 2019 brought the company SEK 9.2 million after issue costs. The rights issue amounted to SEK 10 million and the issue costs amounted to SEK 0.8 million. The rights issue was subscribed to approximately 318 percent of existing shareholders and the public at the end of June. The issue proceeds are mainly intended to be used to provide the company with a solid capital base and to finance licensing negotiations and to secure the company’s continued research and development work.
DexTech is now working confidently towards the company’s primary goal of entering into an agreement with a licensee. In August 2019, DexTech added additional resources to the licensing work when collaboration began with the US company CYTO Consulting LLC, which focuses on prospective licensees in the US and China.
Anders R Holmberg
Anders Holmberg, CEO, +46 73 324 27 82
Gösta Lundgren, CFO, +46 70 710 47 88
This information is such information that DexTech Medical AB is required to disclose in accordance with the EU Market Abuse Regulation. The information was submitted for publication on October 24, 2019 through the care of the above contact persons.
This report is an in-house translation of the original report in Swedish
This report has not been reviewed by the Company’s auditor.
Stockholm October 24, 2019
DexTech Medical AB
Board of Directors
DexTech Medical AB
Dag Hammarskjölds Väg 34A, Uppsala
Box 389, 751 06 Uppsala
See the full report:
Dextech – Interim report Juli-September 2019