Q2 2022: showed a decline of 67% on the topline

Michael Friis

Michael Friis

ExpreS2ion Biotechnologies released Q2 2022 results this morning which showed a decline of 67% on the topline, although at small numbers and an increase in loss on operations to SEK 27.2 million (SEK 10 million).

Read more here: https://lnkd.in/enRq6F7z

The lower revenue is as expected, as the focus is shifted from its legacy CRO business to developing pipeline candidates.

The increase in operating loss is primarily attributable to an increase of about SEK 12 million in R&D due to the breast-cancer candidate, so also no surprise in that.

On the positive side, the company has short-term financing in place and holds SEK 167 million at cash in hands.

As it is not the results that’s the driver of the share price in the short term, the most important in the report is the confirmation of timeline on the Covid-19 candidate, where they confirm that the partner Bavarian is still expected to start phase 3 in august and have initial data read-out before end of 2022.

On the data read-out side, there is no news in the report, that hasn’t already been published to the market. The most important read-out in the period was the ABNCoV2 vaccine data read-out on the Omicron variant, that highlighted the potential to be broad immune response candidate

Today at 14.00 CEO Bent Frandsen and CFO Keith Alexander will run through the results and answer questions regarding the data and results. Sign up here: https://lnkd.in/ezS7T_UM

HC Andersen Capital receives payment from ExpreS2ion Biotechnologies for a Digital IR/Corporate Visibility subscription agreement. / Michael Friis, 18-08-2022, kl. 09:23