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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.

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FluoGuide A/S publishes interim report for the period January – June 2021

Regulatory


August 25, 2021

Copenhagen, Denmark, 25 August 2021 – FluoGuide A/S (“FluoGuide” or the “Company”) today releases its results for the period 1 January – 30 June 2021. The H1 report is available as an attached document to this press release and on FluoGuide’s website.

Summary

Q2 2021 Q2 2020 H1 2021 H1 2020 2020
01/Apr/21 01/Apr/20 01/Jan/21 01/Jan/20 01/Jan/20
(KDKK) 30/Jun/21 30/Jun/20 30/Jun/21 30/Jun/20 31/Dec/20
Net Revenue  0 0 0 0 0
Operating result -6,034 -6,583 -10,233 -10,506 -22,161
Net result  -4,437 -5,576 -7,778 -8,664 -17,460
Cash and bank  49,712 23,018 49,712 23,018 10,637
Result per share (DKK) *) -0.40 -0.55 -0.72 -0.96 -2.70
Solidity (%)  **) 82% 51% 82% 51% 26%

 

*) Result per share (DKK per share): Operating result divided by the average number of shares during the period.  The total number of shares as of 30 June 2021 totaled 11,319,500 shares (10,530,026). The average number of shares for the first half of 2021 was 10,,748,113 shares (9,057,719). The average number of shares for the period 1 January – 31 December 2020 was 9,797,895 shares (6,477.,565).

**) Solidity:  Total equity divided by total capital and liability.

HIGHLIGHTS DURING Q2:

  • FluoGuide receives green light to proceed to fifth dose level with FG001

  • FluoGuide completes a directed share issue raising SEK 75 million on the 12 of May 2021
  • FluoGuide receives approval from ethical committee and the Danish Medicines Agency to commence with FG001 in evening dosing
  • FluoGuide announces the initiation of evening dosing after a satisfactory conclusion of the fifth dose level with FG001.
  • FluoGuide issues new warrants by issuing 272,700 warrants to employees and management, and 50,000 warrants to the Board of Directors.
  • Arbejdernes Landsbank has informed the Company that they have 581.604 shares which corresponds to 5,14 percent of all shares in the Company.
  • Mats Thorén is elected a new member of the Company's board of directors
  • New article reveals promising preclinical results of using FluoGuide’s FG002 technology in guiding surgical removal of cancer

HIGHLIGHTS AFTER Q2:

  • FluoGuide has entered into an agreement with the Department of Neurosurgery, Linköping University Hospital, Sweden to become the second site investigating FG001´s effect in guiding surgical removal of aggressive brain cancer

  • FluoGuide proceeds to sixth dose level with FG001 in the ongoing clinical phase I/II trial following strong data from the concluded evening dosing
  • FluoGuide receives tranche of EUR 750,000 under its ongoing grant from EIC Accelerator – SME Instrument under European Union for FG001
  • First publication of preclinical data where the Company’s compound FG001 is used as a photothermal therapy agent for treatment of cancer

“I am happy to report that we have continued in the first 6 months of 2021 to significantly advanced our development of FG001 and also established a stronger financial position preparing for the next exciting quarters” says Morten Albrechtsen, CEO and continue we believe that we are very close finalise the safety part of our FG001 trial and to find the optimal dose for FG001.