Hørsholm,
CEO Bent U. Frandsen comments
"I am exceedingly proud of the major accomplishments achieved by ExpreS2ion in 2020, both from a global health perspective and when it comes to building strong long-term value for our shareholders. Our team has proven itself to be both quick on its feet and to deliver in an outstanding fashion when it counts the most.
In 2020, we achieved the company's highest revenues ever of
Fourth quarter (October -
- Net sales amounted to 5,277 (3,611) KSEK.
- Result after financial items amounted to -18,772 (-7,502) KSEK.
- Net income amounted to -17,634 (-6,896) KSEK.
-
Net income per share* amounted to -0.76
(-0.47) SEK .
Twelve months (January -
Net sales amounted to 15,263 (13,829) KSEK.
- Result after financial items amounted to -35,204 (-19,641) KSEK.
- Net income amounted to -31,994 (-17,257) KSEK.
-
Net income per share* amounted to -1,84
(-1.27) SEK . - Cash flow from operating activities amounted to -18,371 (-12,691) KSEK.
- Equity ratio** amounted to 79.6% (-5.8%).
- Cash and cash equivalents amounted to 106,832 (5,418) KSEK.
Numbers in parenthesis are the numbers from the same period in 2019.
*The Group's net income per share: The net income for the period divided with the average number of shares for the period. For the period October to
**Equity ratio: Shareholder's equity divided by total capital.
Significant events during the third quarter
On
14 October 2020 , and in accordance with previous communication, the company announced thatMonday, October 19, 2020 was the last day for subscription in the ExpreS2ionBiotech Holding AB share issue with preferential rights for the Company's existing shareholders including warrants. The last day for trading in unit rights wasOctober 15th, 2020.
On
23 October 2020 , ExpreS2ionBiotech Holding AB completed the rights issue of shares and warrants with last day for subscription onOctober 19, 2020 (the "Offering"). The Offering was subscribed to 142.2 percent. Through the Offering ExpreS2ion received proceeds amounting to approximatelySEK 131 million before deduction of costs related to the Offering.
On
6 November 2020 , the company announced that the last day of trading in subscribed paid units in ExpreS2ionBiotech Holding AB would beNovember 10, 2020 and stop day would be onNovember 12, 2020 .
On
12 November 2020 , as previously communicated, ExpreS2ionBiotech Holding AB announced that it had issued 5,455,297 units in the recently completed rights issue. One (1) unit comprise of two (2) new shares, one (1) warrant of series TO4 free of charge and one (1) warrant of series TO5 free of charge. The first day for trading of warrants of series TO4 and TO5 was set forNovember 16th, 2020 .
On
16 November 2020 , ExpreS2ionBiotechnologies ApS announced that the capsid virus like particle based COVID-19 vaccine, which is licensed toBavarian Nordic , had been successfully manufactured with a full batch release to follow after final quality analysis. The project remained on track for presenting initial clinical Phase I/IIa results in Q1 2021, depending on the speed of the clinical trial application approval procedure. Furthermore, the cVLP technology and manufacturing processes used are perfectly suited for rapidly manufacturing new vaccines in response to potential COVID-19 mutations.
On
19 November 2020 , ExpreS2ionBiotech Holding AB announced its interim financial results for the first nine months of 2020 and the third quarter of 2020. The Interim Report (Q3) is available as an attachment and on ExpreS2ion's website (www.expres2ionbio.com).
On
27 November 2020 , ExpreS2ionBiotech Holding AB announced thatSEK 3.5 million (excluding accrued interest) of the loan provided byModelio Equity AB would be set-off against 331,816 new shares at a price ofSEK 10.548 per share (corresponding to a 10 percent discount to the volume weighted average share price of ExpreS2ion's shares on Nasdaq First North Growth Market during the last 15 trading days prior to 19 November 2020).
Significant events after the end of the period
On
8 January 2021 , ExpreS2ion Biotechnologies announced that the clinical trial application (CTA) for a clinical Phase I/II study for the ABNCoV2 capsid virus-like particle based COVID-19 vaccine had been submitted to theCentral Committee on Research Involving Human Subjects inthe Netherlands . The CTA is expected to be approved under a COVID-19 fast-track review procedure. The CTA submission is in line with the plans to present initial clinical Phase I/IIa results in Q1 2021.
On
11 January 2021 , ExpreS2ion Biotechnologies announced that it is reorganizing the company's top management to reflect its increased strategic focus on pipeline development. Several appointments within research and development will ensure the advancement of ExpreS2ion's development projects towards clinical investigations, with the first fully controlled project being the unique Her2-cVLP breast cancer project. This project will be in-licensed from ExpreS2ion's joint ventureAdaptVac ApS and developed under its new designated project code name ES2B-C001.
On
12 January 2021 , ExpreS2ion Biotechnologies announced the publication of strong virus neutralization properties in animal proof-of-concept data for ABNCoV2, a unique capsid virus like particle based COVID-19 vaccine coated with ExpreS2-made SARS-CoV-2 antigens, in the esteemed scientific journalNature Communications . The ABNCoV2 COVID-19 vaccine is the result of a strong collaboration effort by ExpreS2ion and its joint venture partnerAdaptVac ApS together with the PREVENT-nCoV consortium, with an exclusive global license granted toBavarian Nordic A/S .
On
2 February 2021 , ExpreS2ion announced that the company exercised its option to license a unique breast cancer vaccine by signing a final Patent License Agreement withAdaptVac ApS . ExpreS2ion was granted an exclusive global license to a preclinical-stage novel HER2-cVLP breast cancer vaccine programme. Supported by the proceeds from the recent right issue, ExpreS2ion plans to develop the first vaccine candidate, that will be designated ES2B-C001, to human clinical studies. According to the Agreement, ExpreS2ion pays an upfront fee ofDKK 2.5 million (approx.EUR 0.34 million ) upon signing, followed by aggregated milestone-based payments ofDKK 215 million (approx.EUR 29 million ) during development until market approval, and a lower single-digit percentage royalty based on net sales. Furthermore, as a consequence of exercising the option and signing the Agreement, the Shareholder Agreement between ExpreS2ion andNextGen Vaccines ApS ("NextGen") is adjusted, with ExpreS2ion now owning 34% of AdaptVac, and NextGen owning 66% of AdaptVac.
On
23 February 2021 , ExpreS2ion and theUniversity of Bologna announced a research collaboration agreement which covers testing of the novel HER2-cVLP breast cancer vaccine program, including the selected lead candidate ES2B-C001, in proprietary state-of-the-art breast cancer mice models. The collaboration follows the recently presented in-licensing of the HER2-cVLP technology from AdaptVac. The outcome of the collaboration is expected to support ExpreS2ion's breast cancer vaccine project and will constitute a proof of preclinical concept. The research collaboration is budgeted and planned for within the proceeds from the recent rights issue.
Certified Adviser
Telefon: +46 11 32 30 732
E-post: ca@skmg.se
This press release constitutes inside information that
For further information about ExpreS2ion, please contact:
Bent U. Frandsen, CEO
Telephone: +45 4256 6869
E-mail: buf@expres2ionbio.com
Telephone: +45 5131 8147
E-mail: ka@expres2ionbio.com
About ExpreS2ion
ExpreS2ion
https://news.cision.com/expres2ion-biotechnologies/r/expres2ion-announces-2020-fourth-quarter-and-full-year-results,c3295003
https://mb.cision.com/Main/14402/3295003/1378349.pdf
https://mb.cision.com/Public/14402/3295003/b07d562bf3f6f8b7.pdf
https://news.cision.com/expres2ion-biotechnologies/i/proteinsforlife-blue-orange,c2881225
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