Xspray Pharma publishes Interim report Q1, January – March 2020

Press release 2020-05-14

“This year is an important year for Xspray. I expect that the amorphous material provided by our unique production facility will provide positive clinical data, which is a prerequisite for us to apply for market approval for HyNap-Dasa in the U.S. This means that we together with a partner who either buys or licenses the HyNap-Dasa product, will gain access to a multibillion market.” Per Andersson, CEO Xspray Pharma AB (publ)

Significant events during January – March 2020

  • In February, stability studies for the final HyNap-Dasa tablets were initiated and will be a part of the company’s ANDA application.
  • In February, four new patents for the pharmaceutical composition of the company’s primary product candidate, HyNap-Dasa, were granted in the US.
  • In March, Xspray’s production partner, Nerpharma, received approval from Italian Medicines Agency (AIFA) for the full-scale production facility
  • In March, Nasdaq Stockholm's listing committee approved Xspray's application to be listed on Nasdaq Stockholm main market. The first trading day on Nasdaq Stockholm was March 27.

Significant events after the end of the reporting period

  • In mid-April, Xspray announced that the start of pivotal clinical bioequivalence studies with HyNap-Dasa will be delayed by two to three months due to the Covid-19 pandemic.

January – March 2020, Group

  • Net sales amounted to SEK 0 thousand (0)
  • Earnings before tax amounted to SEK -10,532 thousand ( -7,753)
  • Earnings per share before dilution amounted to SEK -0.63 (-0.51)
  • Cash flow from operating activities amounted to SEK -13,490 thousand (-12,926)
  • Cash flow from investing activities amounted to SEK -23,918 thousand (-15,473)

January – March 2020, Parent Company

  • Net sales amounted to SEK 0 thousand (0)
  • Earnings before tax amounted to SEK -10,513 thousand (-7,792)
  • Earnings per share before dilution amounted to SEK -0.63 (-0.52)
  • Cash flow from operating activities amounted to SEK -13,245 thousand (-12,943)

Amounts in brackets refer to the corresponding period for the previous year

The report is available on the company’s website: http://xspraypharma.com/en/investors/financial-reports/

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