LUND, Sweden, July 18, 2024 /PRNewswire/ --
Second quarter January-June Net sales reached SEK 6.4 (8.8) million. The operating result totaled SEK -13.5 (-11.2) million. Net sales reached SEK 15.8 (21.8) million. Earnings per share, basic and diluted, were SEK -0.08 (-0.07). Cash flow from The operating result totaled SEK -31.9 (-25.5) million. operating activities totaled SEK -19.0 (-9.5) million. Earnings per share, basic and diluted, were SEK -0.19 (-0.16). Cash flow from operating activities for the period totaled SEK -26.3 (-21.7) million.
CEO Comment
"Many factors now point to a favorable pathway for Enzymatica. We are making great strides in research, we have received the MDR certification, we are garnering international interest and we are seeing signs of regulatory developments that could be beneficial to us. At the same time, we need to expand our partner network, which does not happen overnight. Registrations in new countries will delay the launch in the largest international markets and we want to increase our research efforts.
The board's decision to update the financial goals and acquire more capital for the company gives us the peace of mind and long-term perspective required to build momentum in the autumn together with existing and new partners and then achieve the strong sales growth that we have planned for several years. I am convinced that the world will see a strong and successful Enzymatica rise in the next few years", said Claus Egstrand, CEO.
Significant events during the quarter
-- On June 13, the University of Kent published interim results from the
ongoing clinical study of ColdZyme's effect on the symptoms and duration
of upper respiratory tract infections (URTIs). The interim results show
that ColdZyme reduces the amount of rhinovirus and shortens the duration
of illness by up to five days. According to the University of Kent, the
final study results are expected in August 2024.
Significant events after the quarter
-- At its meeting on July 18, the board decided to update the company's
financial goals due to a planned change in the business model. The
target for EBIT of at least approximately SEK 170 million is maintained
but moved until the end of 2027. A new target for net sales will be
communicated at a later stage.
-- At its meeting on July 18, the board decided to call an extra annual
general meeting with the aim of approving a rights issue that will bring
the company approximately SEK 130 million before issue costs. The issue
proceeds will mainly be used to finance the operating costs during an
upcoming period of negotiations and registrations in existing and new
markets, for continued geographical expansion and for repayment of a
loan previously signed with the company's three largest owners, the
Chairman of the Board and the CEO. The rights issue will be secured to
90% through guarantees and subscription obligations.
Other events during and after the quarter
-- The Netherlands Olympic team has ordered ColdZyme for its squad for the
2024 Paris Olympics and Paralympics. The participants will use ColdZyme
to reduce the risk of catching upper respiratory tract infections when
they are in contact with other athletes or with people outside the
Olympic village.
-- At the Global Health Summit in Geneva, Professor Glen Davison
participated in a panel discussion during which he presented the results
from his ongoing study on ColdZyme.
The full report is available on: www.enzymatica.com/investors/financial-reports [https://c212.net/c/link/?t=0&l=en&o=4214534-1&h=2507408509&u=http%3A%2F%2Fwww.enzymatica.com%2Finvestors%2Ffinancial-reports&a=www.enzymatica.com%2Finvestors%2Ffinancial-reports]
This information is information that Enzymatica is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 08:30 a.m. CET on July 18, 2024.
For more information, please contact:
Claus Egstrand, Chief Executive Officer, Enzymatica AB
Phone: +44 7780 22 8385 | Email: claus.egstrand@enzymatica.com [mailto:claus.egstrand@enzymatica.com]
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https://news.cision.com/enzymatica-ab/r/interim-report-q2-2024-enzymatica-builds-momentum-for-expansion,c4016269 [https://c212.net/c/link/?t=0&l=en&o=4214534-1&h=2995914216&u=https%3A%2F%2Fnews.cision.com%2Fenzymatica-ab%2Fr%2Finterim-report-q2-2024-enzymatica-builds-momentum-for-expansion%2Cc4016269&a=https%3A%2F%2Fnews.cision.com%2Fenzymatica-ab%2Fr%2Finterim-report-q2-2024-enzymatica-builds-momentum-for-expansion%2Cc4016269]
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