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Press release from Companies

Publicerat: 2022-11-18 08:30:00

Cessatech A/S: Third quarter report Q3-2022

  • Successful outcome of trial 0206, a phase 2 pharmacokinetics trial in children undergoing elective surgical procedures
  • First patient dosed in pivotal trial 0205 in adult patients
  • Cash position at the end of Q3 is dkk 15 mill – further extended by successful execution of rights issue after the period raising approximately dkk 14,7 mill before transaction costs

Cessatech A/S (“Cessatech” or the “Company”) today releases its results for the period 1 July – 30 September 2022. The third quarter report is available as an attached document to this press release and on www.cessatech.com under Investor/Filings & Reports. The Company is progressing well with planned activities, successful outcome of trial 0206 and first patient dosed in pivotal trial 0205 (a randomised double-blind placebo-controlled trial with 220 patients in adult following impacted mandibular third molar extraction).

Third quarter financial results 2022 (1 July - 30 September):

  • Net revenue was KDKK 0
  • Operating result was KDKK -3.252
  • Net result was KDKK -2.627
  • Cash at bank end of the period was KDKK 15.001
  • Earnings per share* was KDKK -0,43
  • Solidity** was 89% 

*Earnings per share (DKK per share): Operating result divided by the average number of shares during the period. The total number of shares as of 30 September 2022 amounted to 6.112.535 shares, the average number of shares during the third quarter was 6.112.535
 **Solidity: Total equity divided by total capital and liability.

Highlights during third quarter 2022

  • First patient dosed in pivotal trial 0205
  • Successful outcome of pharmacokinetic trial 0206 in children
  • Finalized the regulatory MDR strategy for the CT001 pump device
  • Successful outcome of capital raise from Rights issue (subsequent event October 2022)
  • Business development activities to support a future partnership model in Europe
  • Continue to optimize the organisation to execute the final development of CT001

“During the third quarter of 2022 we announced the successful outcome of our Phase 2 trial 0206, the pharmacokinetic study with CT001 and very importantly, we initiated our pivotal trial 0205, a randomised double-blind placebo-controlled study with 220 patients with dosing of the first patient. We are now in an exclusive group of selected companies in late stage development, great effort from the team and our partners“, says Jes Trygved, CEO

For more information about Cessatech, please contact:
Jes Trygved, CEO
Phone: +45 9387 2309
E-mail: jes.trygved@cessatech.com
www.cessatech.com

About Cessatech
Cessatech A/S is a Danish pharmaceutical company committed to developing and commercialising evidence-based and innovative medicines for children for the treatment of paediatric acute pain. Its lead asset (CT001) is an analgesic nasal spray for the treatment of acute and planned painful procedures in children. The advantages include needle-free administration, being easy to administer, a fast-acting therapeutic effect, and being medically approved for children. CT001 is at its pivotal stage of clinical development.

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