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ODI Pharma AB ("ODI" or "the Company") hereby publishes its year-end report for the period July 2019 - June 2020. The report is available as an attached document to this press release and on the Company's website (www.odipharma.com). Below is a summary of the report.
CEO Derek Simmross comments
"The fourth quarter marks the end of our first financial year as a public company, a very important milestone for ODI Pharma. As the COVID-19 pandemic continues to affect societies across the globe, ODI continues to evolve. Even though we are currently facing a delay in the implementation of the import process, we remain confident that it will not be much of a hindrance to our goals as we are currently finalizing details of the import process in Poland. We are evaluating all avenues to accelerate the overall process. "We hope that the new addition to our quarterly report "Market View of ODI Pharma" will help shed light on the opportunities that exist in our industry. ODI Pharma will continue to closely follow these developments."
Q4 2020 (2020-04-01 - 2020-06-30)
The Group's net sales amounted to SEK -218,520.
The Group's loss after financial items amounted to SEK -1,229,862.
Result per share amounted to SEK -0.08. *
The solidity as of 2020-06-30 was 96 %. **
12 months (2019-07-01 - 2020-06-30)
The Group's net sales amounted to SEK 0.
The Group's loss after financial items amounted to SEK -4,942,199.
Result per share amounted to SEK -0.50. *
The solidity as of 2020-06-30 was 96 %. **
* The Company's result per share: The result for the period divided by the number of shares at the end of the period. The total number of shares as of June 30, 2020, amounted to 15,220,000 shares. The result per share based on the average number of shares (9,966,557.38) amounts to SEK -0.50 for the 12-month period 2019-07-01 - 2020-06-30.
** Solidity: Equity divided by total capital.
Highlights during Q4April - ODI Pharma communicated a status update related to the COVID-19 situation and announced that the Board of Directors does not see any impact on the Company's mid- and long-term goals, although the current situation has caused the Company to experience a delay in the implementation of the import process.
May - ODI Pharma published its interim report for the period July 2019 - March 2020. The report is available on the Company's website (www.odipharma.com).
For more information on ODI Pharma, please contact:
Derek Simmross, CEO, ODI Pharma AB
E-mail: info@odipharma.com
This press release contains information that ODI Pharma is obligated to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact person set out above on 27 August, 2020.
ODI Pharma AB
ODI Pharma, based on its European network, subsidiaries and affiliates, is a producer of finished pharmaceutical cannabis products with a focus on distribution to the medical cannabis market in Europe through its subsidiary ODI Pharma Polska Sp. z o.o. ODI Pharma intends to provide a high-quality product at a competitive price compared to competitors in Poland, thereby becoming the number one provider of medical cannabis in Poland. ODI Pharma also strives to be on the forefront of understanding the medical applications of the product as well as introducing new, innovative products to the European patients in need. The Company will continue to team up with the most knowledgeable and best renown partners in the industry to achieve its goals.