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INITIATOR PHARMA: Q3 2020 report

11/20/2020 | 02:31am EST

Financial Highlights

Initiator Pharma A/S is a Danish registered company, and is reporting its financial situation in Danish kroner (DKK). Initiator Pharma A/S was registered on May 2, 2016.

Third Quarter (2020-07-01 - 2020-09-30)

· Net revenues were TDKK 0 (0)

· EBIT was TDKK -3,068 (-1,969)

· Earnings per share was DKK -0.12 (-0.08)

First Nine Months of the Year (2020-01-01 - 2020-09-30)

· Net revenues were TDKK 0 (0)

· EBIT was TDKK -8,462 (-6,836)

· Earnings per share was DKK -0.35 (-0.28)

· Cash and bank: TDKK 8,174 (12,223)

· Solidity: 92% (67%)

Group earnings per share: period result divided by a number of 25 567 336 shares (on 2020-09-30). Solidity: equity divided by assets.

Business highlights in Q3 2020

· On July 2[nd] we announced that the last day of trading in BTUs issued in connection with the rights issue conducted in Q2, in which a total of 1,420,406 shares and 2,130,609 warrants of series TO 2 were issued was July 7.
· On July 13[th] we announced that the warrant program 2020/22, comprising a maximum of 434,197 warrants as resolved at the AGM on May 22[nd] and with a subscription price of SEK 1.33 per warrant had been fully subscribed. Upon vesting, each warrant entitles subscription of one new share at an exercise price of SEK 6.52 on or before 31 December, 2022.
· On August 21[st] we released our first six months 2020 financial report.

Significant events after this reporting period­

· On October 1 we announced that the  screening of patients for the Phase 2a clinical trial with IP2018 is ongoing and, pending the Covid-19 situation, the first dosing of patients is expected shortly
· On November 5[th] we announced that it has received a commitment from Innovation Fund Denmark to support the clinical development of IP2018. The Innobooster grant will fund the ongoing IP2018 phase 2a clinical trial with up to 3.8 MDKK.

Comments from the CEO

"Despite the ongoing pandemic with associated world-widedisturbances of delivery chains,

Initiator Pharma's third quarter has progressed according to plan. We have continued development of our two major assets' main assets IPED2015 and IP2018, both clinical phase drug candidates in the field of erectile dysfunction (ED). IPED2015 is our most advanced candidate intended for patients suffering from organic ED, and IP2018 is being developed as a combined treatment for both depression and ED. Both represent First in Class treatments within their indication and are expected to improve the quality of life for a growing number of patients who are not responding to, or cannot be treated with, existing drugs on the market."

For more information, please contact

Claus Olesen, CEO, Initiator Pharma, Mobile: +45-61 26 00 35, E-mail: ceo@initiatorpharma.com

Torgeir Vaage, CFO, Initiator Pharma, Mobile: +47-924 05 235, E-mail: tv@initiatorpharma.com

About Initiator Pharma

Initiator Pharma A/S is a Danish biotechnology company focusing on the development of innovative drugs, targeting key unmet medical needs within the central and peripheral nervous system. Our research is focusing on monoamine reuptake inhibitors, molecules that are affecting the synaptic concentrations of neurotransmitters such as dopamine, serotonin and noradrenaline. Our lead drug candidates are: IPED2015 is targeting the medical condition Erectile Dysfunction (ED), and specifically patients with ED that are non-responsive to drugs within the PDE5i class, including the approved drugs ViagraÓ, CialisÓ and LevitraÓ. IP2018 is a monoamine reuptake inhibitor for the treatment of psychogenic Erectile Dysfunction (mainly caused by anxiety and depression) primarily targeting the serotonin followed by the dopamine system. IP2018 is different from our frontrunner IPED2015 for organic erectile dysfunction (mainly caused by diabetes and age), primarily targeting the dopamine system. Due to the unique profile, IP2018 will, if successful, treat patients suffering major depressive disorder where the majority also suffer from comorbid sexual dysfunction or treatment-emergent sexual dysfunction.

Initiator Pharma is based in Aarhus, Denmark. Initiator Pharma is listed on Spotlight Stockmarket and has about 4.000 shareholders. Read more at www.initiatorpharma.com.

https://news.cision.com/initiator-pharma/r/initiator-pharma--q3-2020-report,c3240382

https://mb.cision.com/Main/15335/3240382/1337488.pdf

(c) 2020 Cision. All rights reserved., source Press Releases - English

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