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| Land | Sverige |
|---|---|
| Lista | Spotlight |
| Sektor | Hälsovård |
| Industri | Läkemedel & Handel |
Press release: Uppsala, Sweden, August 24, 2023. Dicot AB (publ) publishes the interim report for the period January-June 2023. The report is available as an attached document and on the company's website www.dicot.se. Below is a summary of the report.
- Net sales amounts to KSEK 0 (0)
- Earnings after financial items amounts to KSEK -10,050 (-8,733)
- Earnings per share amounts to SEK -0.02 (-0.08)
"Dicot is entering a new era", says Elin Trampe, CEO, as Dicot now enters the clinical phase with LIB-01.
Significant events during the quarter- Application to the Swedish Medical Products Agency to start a clinical trial with the potency drug candidate LIB-01 is submitted.
- The preclinical toxicology program is completed and shows a good safety profile from studies conducted according to Good Laboratory Practice, both in single and repeated dosing.
- Manufacturing of the study drug for the clinical trial is completed and it arrives in Sweden.
- 83.3% of the warrants in TO4 are utilized for subscription of shares in June and Dicot receives 20.7 MSEK before costs.
- Results from studies of alternative method with cell culture for large-scale production of the starting material for LIB-01 show the method works on a laboratory scale. Next step will be scale-up tests and optimization work.
- Jan-Eric Österlund is elected as a new board member at the annual general meeting on May 23.
- Mats Silvander is recruited to the role of Chief Technical Officer to lead and develop the work with the company's Supply Chain and IP.
- On August 14, Dicot receives the Swedish Medical Products Agency's approval to start the clinical phase 1 study of the drug candidate LIB-01 with the primary objective of evaluating the safety profile in humans. Approval has also been obtained from the Ethical Review Board.
For further information, please contact:
Elin Trampe, CEOBjörn Petersson, CFO
Phone: +46 72 502 1010 Phone: +46 76 109 00 00
E-mail: elin.trampe@dicot.seE-mail:bjorn.petersson@dicot.se
About Dicot AB
Dicot is developing the drug candidate LIB-01, 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 current available drugs. Today, over 500 million men suffer from these sexual dysfunctions and the market is valued at USD 8 billion. Dicot's strategy is to develop LIB-01 under own auspices until phase 2a studies and thereafter in partnership with larger, established pharmaceutical companies, finance and develop LIB-01 further to a registered pharmaceutical on the world market.
Dicot is listed on Spotlight Stock Market and has approximately 4,400 shareholders. For more information, please visit www.dicot.se.