FluoGuide reported Q4 earnings of DKK -8,5m, -20% vs. SEB at DKK -7.1m, for EPS of DKK -0.62 vs. SEB at DKK -0.53. Importantly, the clinical timeline is unchanged, with phase 1 readout in mid-2021, and phase 2 readout in H2-2021. Despite the faster than expected cash burn, given a DKK 4.7m tax credit and second stage of EU funding not in the current cash position, management estimates funding to be sufficient until March 2022, if the phase 3 trial does not go ahead sooner.

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