Interim report July 1 – September 30, 2020
22 October, 2020
By “Company” or “DexTech” is meant DexTech Medical AB with organization number 556664-6203.
First Quarter Summary (July – September 2020)
• Net sales amounted to MSEK 0.0 (0.0)
• Operating profit/loss amounted to MSEK -1.5 (-2.0)
• Earnings per share * SEK -0.10 (-0.13)
• Cash and cash equivalents at the end of the period amounted to MSEK 5.5 (8.2)
* Before and after 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 14,887,678. Amounts in brackets refer to the corresponding period last year.
In June 2020, DexTech’s Phase IIb study of the drug candidate OsteoDex for the treatment of advanced prostate cancer, skeletal metastatic castration-resistant prostate cancer (mCRPC), was completed, with 2-year follow-up results obtained from the last patients. The follow-up results from the study were very positive and show that OsteoDex treatment can slow down the disease. The results show significantly longer survival for patients who responded to the treatment. The treatment was very well tolerated (no serious side effects) and good disease-inhibiting effect was seen even in the lowest doses. Slowing and regression of the disease was also seen in patients where the disease has progressed after treatment with several of the other available drugs for castration-resistant prostate cancer.
None of the modern drugs is curative in castration-resistant prostate cancer and there is therefore a great need (unmet need) for new potent and well-tolerated drugs. OsteoDex has a clear potential to meet this need.
DexTech is working towards the company’s primary goal, to enter into an agreement with a licensee for the company’s drug candidate OsteoDex for the treatment of skeletal metastases in advanced prostate cancer (mCRPC) before the end of 2020. A majority of our stakeholders had expressed a desire for new contact when the follow-up results were completed, which can be largely understood as the result should give an indication of whether the OsteoDex treatment affects survival, which is the ultimate intention of CRPC treatment. Dialogue is ongoing, including with new stakeholders.
The ongoing Corona pandemic has, of course, affected the out-licensing work to the extent that contacts with stakeholders are somewhat slower and exclude physical meetings that are replaced by telephone / video meetings. Herein lies an educational challenge, i.e. to be able to explain and shed light on the clinical status of CRPC and OsteoDex place in the treatment, and, not least, the great potential of our platform technology. Here we have great benefit from our clinical expert.
Anders R Holmberg CEO
See the entire report: Dextech – Interim report Juli-September 2020