Performance highlights

• In this fourth quarter of 2022/2023 (July – September 2023), CS MEDICA delivered net sales of tDKK 73 (9.255) meeting the revised goal of Net Sales Year-to-date of mDKK 1.  In the quarter we obtained an order intake of mDKK 2.8 in Q4, which accumulates to mDKK 14,5 year-to-date.
• Operating loss for the fourth quarter amounted to tDKK 4.640, compared to tDKK 99 last year.
• Cash and Cash equivalents at the end of the fourth Quarter of 2022/2023, close at tDKK -415 (2.934). To fortify CS MEDICA’s liquidity, the focus remains on short-term sales and the factoring agreement with Svea. Concurrently, we're looking into the possibilities of facilitating a swift bank transfer in collaboration with our Investor, RongShi, while exploring alternative funding solutions to ensure financial stability.
• The long-term funding is attained by the company’s Investment Agreement with RongShi, with a cash capital increase (direct issue) at a share price of DKK 28.13. The direct issue amounts to mDKK 60 corresponding to 14.76% of CS MEDICA 's outstanding shares on a non-diluted basis.
• At the end of the period, CS MEDICA’s equity/asset ratio was 40% (89%)

​​​

Significant events during the fourth quarter (July – September 2023)

• Sep 18, 2023, CS MEDICA announces the initiation of the registration process for its six medical devices in Malaysia. This initiative is undertaken in partnership with Rongshi MEDICA Co. Ltd.("RongShi Medica" or the "Joint Venture").
• Sep 06, 2023, CS MEDICA's Joint Venture with RongShi Successfully Represented at CPHI & PMEC China 2023.
• Aug 30, 2023, CS MEDICA achieves Milestone with Patent on Nasal Night Spray.
• Jul 18, 2023, CS MEDICA releases Q3 2022/2023 report.
• Jul 14, 2023,  CS MEDICA finalized the establishment and registration of CANNORDIC India Pvt. Ltd to Expand Presence in India.

Significant events after the period

• Oct 31, 2023, CS MEDICA received its second-issued patent on its "Nasal Protect Gel," providing protection against pollen, bacteria, viruses, and pollution.
• Oct 26, 2023, CS MEDICA received certificates of registration for the trademark CANNASEN^® in Australia.
• Oct 12, 2023, CS MEDICA Announces Indian State’s FDA Approval for Two Cosmetic Products.
• Oct 10, 2023, Danske Bank has extended a 1,2 million DKK credit line to CS MEDICA, reaffirming its confidence in the company. This funding bolsters CS MEDICA as they await China-backed support, linked to Chinese FDA approval of 3-5 Medical Device products.
• Oct 09, 2023, CS MEDICA, is selected as a finalist in the 2023 European Lifestars Awards. The company has been recognized in the category of "Post-IPO Raise of the Year," organized by LSX, a network for life science executive leaders.

Live streamed conference following the Q4 2022/2023 Report
On Tuesday 5 December 2023 at 11:00 CEST, CS MEDICA will host a Q4 2023 web conference. The web conference will start with a presentation from the management team commenting on the Q4 2022/2023 report, followed by a Q&A session where the management team will answer questions from investors. The Q&A is already open, meaning that you can already now submit your questions and vote for the best questions submitted by other investors. CS MEDICA has made this solution, operated by Stokk.io, available to make sure all interested can participate with their questions even though they may not be able to attend the event live. You will afterward be able to find all answers in the uploaded recording and transcript. The web conference will be held in English.

Please register, submit questions now or during the live presentation and vote for the best questions at the following link >>

Date and time
Tuesday 5^th of December, 2023, from 11:00 – 11:30 PM CET

Sign up for conference
Live conference sign-up link >>

 

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 is a Danish-based MedTech company operating within research, development, manufacturing, commercializing, and operating within the pharmaceutical industry. The company combines science and nature with the purpose of creating over-the-counter treatments to fight autoimmune and stress-related diseases, built upon our knowledge of the endocannabinoid system, patients' needs, and our experience in the pharmaceutical industry. We do so by pioneering scientific breakthroughs, expanding access to our treatments, understanding patients globally, and working to prevent the pain caused by the diseases we treat.

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