Equities

CSMED

DK0061668225

End-of-day quote NORDIC GROWTH MARKET Other stock markets 06:00:00 2024-05-21 pm EDT			5-day change	1st Jan Change
5.688 ^DKK	-4.86%		-10.44%	+21.46%

03:00pm	Transcript : CS Medica A/S, H1 2024 Earnings Call, May 23, 2024
May. 17	CS Medica A/S Reports Earnings Results for the Second Quarter and Six Months Ended March 31, 2024	CI

CS MEDICA Aligns Financial Priorities: Transition to Calendar Year 2024 Postponed

May 07, 2024 at 09:38 am EDT

CS MEDICA A/S Optimizes Financial Planning with Rescheduled Year-End

CS MEDICA, a MedTech innovator in cannabinoid-infused treatments, announces a calculated delay in the conversion of its budget year. Originally, the fiscal year was scheduled to convert from 1st October to 31st December 2023, aligning with the calendar year. However, after a cost/benefit evaluation, the company has decided to postpone its transition to occur from 1st October to 31st December 2024.

This strategic decision underscores CS MEDICA's commitment to reverse its financial situation and ensure operational optimization. By postponing the fiscal year conversion, the company can allocate resources more effectively, enhancing the ability to meet financial goals as the daily operation will not be impacted, and ensuring a seamless transition end of 2024.

Lone Henriksen, CEO of CS MEDICA, emphasizes: "Postponing our fiscal year conversion reinforces our financial priorities, allowing us to strengthen processes and enhance operational efficiency. As a scaleup MedTech company, we've made substantial investments in R&D, clinical evidence, patents, and regulatory compliance. While optimizing operations and wishing to convert to a calendar year, our immediate focus is ensuring financial stability and growing sales in key markets, notably Germany, the largest EU market for our CBD-infused treatments for pain management, autoimmune and stress-related disorders. In addition, we prioritize awareness by activating our share on the German stock markets to strengthen our local presence. This commitment amplifies value delivery to our stakeholders."

The upcoming quarterly report, covering Q2 2024 (January - March), will be released as scheduled in May, adjusting from Q1 2024 in the calendar year.

For more information about CS MEDICA, please contact:
Gitte Lund Henriksen, CFO
Phone: + (45) 2774 2280
Email: glh@cs-medica.com
Website: https://www.cs-medica.com/

CS MEDICA, a Danish MedTech pioneer, specializes in developing evidence-based, CBD-integrated treatments for pain management, autoimmune and stress-related disorders. With a focus on patient-centric care, our products range from innovative R&D to registered over-the-counter substance-based medical devices and dermaceuticals. Our flagship CANNASEN® brand, alongside our own-label solutions, exemplifies our dedication to safe, high-quality treatments for both human and veterinary health globally.

The company is listed on Spotlight Stock Market in Stockholm (symbol: "CSMED"). For more information, visit cs-medica.com and LinkedIn.

https://news.cision.com/cs-medica-a-s/r/cs-medica-aligns-financial-priorities--transition-to-calendar-year-2024-postponed,c3974083

Latest news about CS MEDICA A/S

Transcript : CS Medica A/S, H1 2024 Earnings Call, May 23, 2024	09:00am
CS Medica A/S Reports Earnings Results for the Second Quarter and Six Months Ended March 31, 2024	May. 17	CI
CS Medica A/S Enters New Partnership with OTC Company Holding A Strong Position in the Chronic Pain Segment in Germany	Apr. 30	CI
CS Medica A/S Advances Global Reach with 180° Drug Store Alliance, Powered by Pull Market Strategy	Apr. 22	CI
Transcript : CS Medica A/S, Q4 2023 Earnings Call, Apr 12, 2024	Apr. 12
CS Medica A/S Breaks Through Asian Market Barrier with Approval of Protective Nasal Gel in Malaysia	Apr. 04	CI
Transcript : CS Medica A/S, 2023 Earnings Call, Feb 21, 2024	Feb. 21
CS MEDICA A/S Partners with New Distributor to Launch CANNASEN into Jordan	Feb. 20	CI
CS Medica Obtains Danish Patent for Wound Healing Gel	Feb. 02	MT
CS Medica Set to Launch Pain Patch, Cosmetic Products in Australia	Jan. 26	MT
CS Medica A/S Announces FDA Authorization for Commercialization for Eight Products in the U.S. Market	Dec. 27	CI
Transcript : CS Medica A/S, Q4 2023 Earnings Call, Dec 05, 2023	Dec. 05
CS Medica A/S Announces Financial Year Change	Nov. 22	CI
CS Medica A/S Reports Earnings Results for the Fourth Quarter Ended September 30, 2023	Nov. 22	CI
CS Medica A/S Reports Earnings Results for the Full Year Ended September 30, 2023	Nov. 22	CI
CS Medica's Nasal Protect Gel Secures Second Patent in Denmark	23-10-31	MT
Cs Medica A/S Announces Indian State's Fda Approval for Two Cosmetic Products	23-10-12	CI
Danske Bank Extends DKK 1.2 Million Credit Line to CS MEDICA	23-10-10	CI
CS Medica A/S Reports Earnings Results for the Third Quarter and Nine Months Ended June 30, 2023	23-09-13	CI
CS Medica Secures Denmark Patent for Nasal Spray	23-08-30	MT
Transcript : CS Medica A/S, Q3 2023 Earnings Call, Aug 08, 2023	23-08-08
CS MEDICA A/S Announces Establishment of CANNORDIC India Pvt. Ltd. to Expand Presence in India	23-07-14	CI
CS Medica A/S Signs New Own-Label Agreement on Pain Patch	23-06-21	CI
CS Medica Signs Deal for Future Compliance for CE-marked Medical Devices with CBD in EU	23-06-15	MT
CS MEDICA A/S Secures Future Compliance with New Medical Device Regulation Through Signed Contract with Notify Body	23-06-15	CI

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