Interim Report For FluoGuide, Second Quarter 2019
August 30, 2019
Andreas Kjær, responsible for research of FluoGuide comments: "I am very pleased that promising data on the benefit of FG001 in glioblastoma and pancreatic cancer have been selected for presentation at WMIC, an important society within molecular imaging and surgical guidance. Optical targeting of uPAR is likely to become of benefit to patients and surgeons in several cancer indications and this presentation is an important event to highlight the technology’s potential."
Morten Albrechtsen, CEO of FluoGuide comments: "We are very pleased with the successful IPO and to see that the potential of uPAR as target for guiding cancer surgery is unfolding earlier than expected as exemplified with the two presentations at WMIC”
Result for second quarter 2019 (April – June):
- Net revenue was KDKK 0 (0)
- Operating result was KDKK -1,343 (0)
- Net result was KDKK 1,540 (0)
- Cash at bank at end of the period was KDKK 11,259 (1)
- Result per share* was DKK -0,23 (0,00)
- Solidity** at end of the period was 94% (100%)
*) Result per share (DKK per share): Operating result divided by the average number of shares during the period. Total number of shares as of 30 June 2019, amounted to 7,224,274 shares (105,500). The total number of shares at the beginning of the period amounted to 4,000,000 shares (105,500). The average number of shares for the second quarter 2019 was 6,651,070 (105,500). The Company was converted to a public company and increased its shares in Q2 2019.
**) Solidity: Totale quity divided by total capital and liability.
FluoGuide did not have any revenue for the reported period, and the Company had a negative result. This follows the plan outlined in the IPO prospectus and is conventional from an early stage life science company. The financial result is as expected, and it is the Board’s opinion that FluoGuide has a relatively short time to market compared to many other life science companies. The Company is continuing its work on preparing FG001 for the first clinical study to be able to improve the outcome for patients with cancer undergoing surgery.
Highlights during Q2
- FluoGuide conducts a successful IPO that initially provides the Company approx. DKK 15.9 million and more than 1,000 new shareholders.
- The trading in FluoGuide’s shares and warrants commences at Spotlight Stock Market.
- FluoGuide announces registration of ownership to the key patent family, which was acquired by the Company prior to its IPO in April/May 2019. The patent family was issued nationally in the USA in 2018 and is valid until 2034.
Highlights after Q2
- The Company announces that new data confirms FG001’s potential in guiding surgical removal of glioblastoma. The data will be presented at the World Molecular Imaging Congress 2019 (WMIC) in Montreal, on September 4-7.
- FluoGuide announces that data, confirming FG001’s potential in also guiding surgical removal of pancreatic cancer, will be presented at the World Molecular Imaging Congress 2019 (WMIC) in Montreal, on September 4-7.