Xspray Pharma publishes Interim Report Q2, January – June 2020

Regulatory press release 2020-07-31

"We are in the final development phase of our first protein kinase inhibitor (PKI) project, HyNap-Dasa. HyNap- Dasa has shown good results in previous clinical studies and we are looking forward to seeing positive result this time as well. We have ahead of us an exciting and eventful second half of the year, with the results of the clinical studies and intensify the work of finding a commercial partner for our first product.” Per Andersson, CEO Xspray Pharma AB

Significant events during the second quarter, 2020

  • In May, the Annual General Meeting resolved, in accordance with the Nomination Committee's, reelectionof all former members. Former member Hans Arwidsson declined re-election.
  • In May, it was announced that the start of the pivotal clinical bioequivalence studies with HyNap-Dasa had started.

Significant events after the end of the reporting period

  • In July, Xspray announced that all healthy volunteers in the first of two groups have now been dosed. The study is being conducted to demonstrate that HyNap-Dasa is bioequivalent to the original drug Sprycel® (dasatinib).

April – June 2020, Group

  • Net sales amounted to SEK 0 thousand (0)
  • Earnings before tax amounted to SEK -15,346 thousand (-9,359)
  • Earnings per share before dilution amounted to SEK -0.92 (-0.62)
  • Cash flow from operating activities amounted to SEK -9,822 thousand (-1,019)
  • Cash flow from investing activities amounted to SEK -25,115 thousand (-29,475)

January – June 2020, Group

  • Net sales amounted to SEK 0 thousand (0)
  • Earnings before tax amounted to SEK -25,878 thousand (-17,112)
  • Earnings per share before dilution amounted to SEK -1.54 thousand (-1.14)
  • Cash flow from operating activities amounted to SEK -23,311 thousand (-13,945)
  • Cash flow from investing activities amounted to SEK -49,033 thousand (-44,948)
  • Cash and cash equivalents and current investments at the end of the period totaled SEK 137,766 thousand (162,338)

April – June 2020, Parent Company

  • Net sales amounted to SEK 0 thousand (0)
  • Earnings before tax amounted to SEK -15,328 thousand (-9,349)
  • Earnings per share before dilution amounted to SEK -0.92 (-0.62)
  • Cash flow from operating activities amounted to SEK -9,580 thousand (-794)

January – June 2020, Parent Company

  • Net sales amounted to 0 thousand (0)
  • Earnings before tax amounted to SEK -25,841 thousand (-17,141)
  • Earnings per share before dilution amounted to SEK -1.54 (-1.14)
  • Cash flow from operating activities amounted to SEK -22,825 thousand (-13,980)
  • Cash and cash equivalents and current investments at the end of the period totaled SEK 137,716 thousand (162,288)

Amounts in brackets refer to the corresponding period for the previous year.
The report is available on the company’s website: https://xspraypharma.com/en/investors/financial-reports/

For further information, please contact:

Per Andersson, CEO, Xspray Pharma AB
Phone: +46 (0) 706 88 23 48
E-mail: per.andersson@xspray.com

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 to 54 in December 2019. 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 Stockholm.
www.xspraypharma.com

This information is information that Xspray Pharma AB is obliged to make public pursuant to the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 2020-07-31 08:45 CEST.

Attachments

Xspray Interim Report Q2 Xspray ENG