Xspray Pharma publishes Interim Report Q2, January – June 2019

Press release 2019-08-29

August 29, 2019

”We have previously shown that it is possible to manufacture small pilot quantities of amorphous material for clinical studies but now we have shown that the process works at commercial scale. We have ”cracked the code”, so to speak, and have taken a great step toward a finished product.”

Per Andersson, CEO Xspray Pharma AB (publ)

   
Significant events during the second quarter 2019

  • In June, Xspray announced the successful start of HyNap-Dasa production in the Company’s unique full-scale manufacturing facility in Italy
  • In June, Xspray was granted additional patents for HyNap-Sora and HyNap-Nilo in the US
  • In May, Gunnar Gårdemyr and Christine Lind were elected as new Xspray board members
  • In May, Kerstin Hasselgren was named as Xspray's CFO

   
Significant events after the interim reporting period

  • No significant events have taken place since the closing date

   
April – June 2019, Group
Because no Group existed during the same period in the previous year, there are no comparative figures

  • Net sales amounted to SEK 0 thousand
  • Earnings before tax amounted to SEK –11,052 thousand
  • Earnings per share before dilution amounted to –SEK 0.73
  • Cash flow from operating activities totaled SEK –1,019 thousand

   
January – June 2019, Group
Because no Group existed during the same period in the previous year, there are no comparative figures

  • Net sales amounted to SEK 0 thousand
  • Earnings before tax amounted to SEK –19,555 thousand
  • Earnings per share before dilution amounted to SEK –1.30
  • Cash flow from operating activities totaled SEK –13,945 thousand
  • Cash and cash equivalents at the end of the period totaled SEK 162,338 thousand
  • Total equity amounted to SEK 282,161 thousand
  • The total number of shares was 15,076,460 at the end of the period

   
April – June 2019, Parent Company
Amounts in brackets refer to the corresponding period for the previous year

  • Net sales amounted to SEK 0 thousand (0)
  • Earnings before tax amounted to SEK –11,042 thousand (–6,788)
  • Earnings per share before dilution amounted to SEK –0.73 (–0.50) 
  • Cash flow from operating activities totaled SEK –794 thousand (–4,342)

   
January – June 2019, Parent Company
Amounts in brackets refer to the corresponding period for the previous year

  • Net sales amounted to SEK 0 thousand (0)
  • Earnings before tax totaled SEK –19,584 thousand (–8,384)
  • Earnings per share before dilution amounted to SEK –1.30 (–0.63)
  • Cash flow from operating activities totaled SEK –13,980 thousand (–7,606)
  • Cash and cash equivalents at the end of the period totaled SEK 162,288 thousand (171,815)
  • Total equity amounted to SEK 282,131 thousand (228,794)

   
For further information, please contact:
Per Andersson, CEO, Xspray Pharma AB (publ)
Telephone: +46 (0)8 730 37 00
Email: per.andersson@xspray.com

  
The information was submitted for publication, through the agency of the contact person set out above, at 8:00 a.m. CET on August 29, 2019.

   
About Xspray Pharma
Xspray Pharma AB (publ) is a product development company with multiple product candidates in clinical development. Xspray uses its innovative, patented RightSize technology to develop improved and generic versions of marketed drugs, primarily protein kinase inhibitors (PKIs) for the treatment of cancer. The segment is the second largest in oncology, and drug prices are very high.

The company´s innovative technology allows Xspray Pharma to gain entry as the first competitor to today’s original drugs before the secondary patents expire. Xspray’s goal is to become the leader in the development of improved drugs or generic versions of PKIs already marketed for the treatment of cancer, which numbered 39 in 2018. The company’s leading product candidates, HyNap-Dasa, HyNap-Sora and HyNap-Nilo, are stable amorphous versions of the three blockbuster cancer drugs Sprycel® (dasatinib), Nexavar® (sorafenib) and Tasigna® (nilotinib), respectively. The launch of the first product candidate, HyNap-Dasa, is planned to take place in 2021. The substance patent for the original drug Sprycel® (dasatinib) expires at the end of 2020, and the secondary patents in 2026, which offers Xspray’s HyNap-Dasa a period of five years of semi-exclusivity before other competitors gain access to the market.

The company has patented manufacturing technology, equipment and the resulting products. The shares in Xspray Pharma are traded on Nasdaq First North Stockholm.

   
Xspray Pharma AB (publ)
Råsundavägen 12
169 67 Solna
info@xspray.com
www.xspraypharma.com

Redeye AB is Xspray Pharma’s Certified Adviser
certifiedadviser@redeye.se
Telephone +46 (0)8 121 576 90