Press release: Uppsala, May 17, 2021. A summary of the Interim report January - March 2021, for Dicot AB (publ) is now avalible on the company webbsite www.dicot.se
January - March 2021
- Net sales amounts to KSEK 37 (0)
- Earnings for the period amounts to KSEK -8,468 (-6,572).
- Earnings per share -0.19 (-0.40) SEK
Statement from the CEO
The first quarter of 2021 is to be regarded as Dicot's starting point for the industrialization phase.
THERE ARE SEVERAL FACTORS that determine whether you will achieve success when a business enters such a phase. One is, of course, to have access to the right people and competence.
FOR A COMPANY OF OUR SIZE, where there is no room to hire all expert roles, partners are crucial. It is gratifying that the collaborations we have are so positive and lead to such good results. Pelvipharm, which we often mention, is one example. In constant dialogue with researchers in Paris, we have during the quarter started promising studies on rats that have proven reduced erectile ability.
OUR CLOSEST PARTNER geographically is Ardena in Södertälje, which is a certified CDMO (Contract Development and Manufacturing Organization). In March, we started producing the batch of our extract that will be used up to and including clinical studies, together with them.
FOR SOME TIME NOW, we have also been collaborating with Professor Ola Spjuth at Uppsala University. He uses so-called Cell Painting technology, which involves morphological analysis and comparison with other substances. This can give us valuable information about the mechanism of action of LIB-01.
WITHIN THE COMPANY, we are preparing for the industrialization phase. During the quarter, we therefore began the recruitment of a vice president who will also hold the position as COO and thus be responsible for drug development and manufacturing. The person we are looking for will lead the expansion of Dicot's organization.
LAST BUT NOT LEAST, our board and the expertise it possesses is a great asset. Therefore, it is satisfying that we were able to elect Eva Sjökvist Saers as the new Chairman of the Board in early February. She brings great energy and commitment alongside with her strong merits from the life science sector.
ALL SHAREHOLDERS who have chosen to invest in Dicot are also an important success factor. A sign that there is good confidence in us, I would say, is that the exercise of warrants of the TO2 series conducted in March, ended in a utilization rate of 97%.
I WANT TO SUM UP by thanking all stakeholders who in various ways contribute to bringing Dicot closer to our goals and visions. Thank you, employees, partners, board, shareholders, and new investors, for the collaboration and the trust. 2021 has started in a very satisfactory way. I believe and hope that together we will end it in an even more favorable position.
For further information, please contact:
Göran Beijer, CEO
Tel: +46 (0) 706 63 60 09
Jessica Roxhed, CFO
Tel: +46 70-394 94 98
About Dicot AB
Dicot is developing the drug candidate LIB-01 (formerly Libiguin), which will be a potency agent to better treat erectile dysfunction and premature ejaculation. The ambition is to create a drug with significantly longer effect and far fewer side effects, compared to those on the market. Today, at least 500 million men suffer from these sexual dysfunctions and the market is valued at SEK 50 billion.
Research and development are conducted under own auspices up to phase 2 studies. Thereafter, Dicot's intention is to form strategic alliances, or alternatively carry out a trade sale, with larger, established pharmaceutical companies to be able to introduce LIB-01 on the world market.
Dicot is listed on Spotlight Stock Market and has approximately 1,800 shareholders. For more information, please visit www.dicot.se