Year-End Report 2019
Press release
February 27, 2020
FluoGuide A/S (“FluoGuide”) today announces its results for the period 1 January– 31 December 2019. The report is available here.
Morten Albrechtsen, CEO of FluoGuide, comments: “I would like to thank all shareholders – new and from the IPO for the strong confidence in our business, our product and us. Together with an extraordinary team, I am looking forward to transform FluoGuide from a pre-clinical company into a phase III company with a pipeline of indications and products during 2021 – a very exciting year ahead”
Fourth quarter 2019 (October – December)
- Net revenue was KDKK 0 (0)
- Operating result was KDKK -3,700 (-52)
- Net result was KDKK -3,113 (-53)
- Cash at bank at end of the period was KDKK 2,344 (59)
- Result* per share was DKK -0.43 (-0.02)
- Solidity** at end of the period was 87% (9%)
Full year 2019 (January – December)
- Net revenue was KDKK 0 (0)
- Operating result was KDKK -10,645 (-52)
- Net result was KDKK -9,653 (-53)
- Cash at bank at end of the period was DKK 2,344 (59)
*) 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 31 December 2019 amounted to 7,224,274 shares (105,500). There was no change to the number of shares during the fourth quarter 2019, hence the average number of shares for the fourth quarter was 7,224,274 shares (2,203,143). The average number of shares for the period from 1 January 2019 to 31 December 2019 was 6,475,514 shares (675,307). Note that the number of shares in the Company after the end of the period, through a directed issue of shares, has increased to 9,455,268 shares registered on the 27 February 2020.
**) Solidity: Total equity divided by total capital and liability.
Amount within brackets corresponds to the same period in the previous year.
Highlights during Q4
- The manufacturing process was successfully upscaled
- A formulation was successfully developed for early commercialization through compassionate use sales
- The safety program for F001 was initiated
Highlights after Q4
- FluoGuide announced the grant of European patent No. EP3193945 “uPAR targeting peptide for use in peroperative optical imaging of invasive cancer”, which is the core patent protecting FG001 in Europe. The patent protection is valid until September 2034
- FluoGuide announced FG001 has demonstrated lack of acute toxicity in doses far beyond the expected human dose
- FluoGuide strengthen its ownership and can reduce the time to initiation of the phase IIb/III clinical study by 6-12 months through a directed share issue