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FluoGuide develops surgical solutions that is expected to reduce suffering for the patient and increases the likelihood of cure as well as reducing costs for the health care system.

Interim Report Third Quarter 2019

Press release


November 29, 2019

FluoGuide A/S (“FluoGuide”) today announces its results for the period 01/July/2019 – 30/Sep/2019. The full report is available on the company’s homepage.

Morten Albrechtsen, CEO of FluoGuide, comments: “We are very pleased that the supply chain for FG001 has been established to support the first clinical study in humans and the process for FG001 manufacturing was successfully transferred to vendors who can make it to a quality needed for human use. This is good news and a major de-risking for a positive proof-of-concept clinical result in patients with glioblastoma undergoing surgery. Also, we were successful in making the first larger scale batch in an amount that could serve early commercialization through compassionate use sale, ahead of plan.”

Result for the third quarter 2019 (July – September)

  • Net revenue was KDKK 0 (0)
  • Operating result was KDKK -5.057 (0)
  • Net result was KDKK -4.047 (0)
  • Cash at bank at end of the period was KDKK 9.630 (1)
  • Result per share[1] was DKK -0,56 (0)
  • Solidity[2] at end of the period was 65% (100%)

Result for the first nine months (January – September)

  • Net revenue was KDKK 0 (0)
  • Operating result was KDKK -6.842 (0)
  • Net result was KDKK -6.540 (0)
  • Cash at bank at end of the period was KDKK 9.630 (1)

Amount within brackets corresponds to comparable period in the previous year.
[1] Result per share (DKK per share): Operating result divided by the average number of shares during the period. There was no change to the number of shares during third quarter. Total average number of shares was equal to the total number of shares at the beginning of the period (1 July 2019), during the period and at the end of the period (30 September 2019), and amounted to 7,224,274 shares (105,500). The average number of shares for the period from 1 January 2019 to 30 September 2019 was 6,222,256 shares (105,500).
[2] Solidity: Total equity divided by total capital and liability.

Highlights during Q3
FluoGuide announces registration of ownership to the key patent family. The patent is valid until 2034.
The Company presented data at WMIC*) confirming FG001’s effect in guiding surgical removal of glioblastoma at different doses for use in first clinical study.
A study demonstrating that FG001 helped to identify and remove local additional metastases in 50% of the subjects that were overlooked during the standard white light procedure was also presented at WMIC*)

Highlights after Q3
First result of FG001 tested in pre-clinical safety studies
Additional patent applications submitted, and patents granted
Publication of the preclinical data of FG001 tested in pancreatic cancer presented at the WMIC in peer-review scientific paper
FluoGuide holds presentations at Sedermeradagen Stockholm and Investordagen Aalborg

 

Link to Q3 report