2cureX publishes interim report for the fourth quarter and all 12 months of 2021

CEO Fernando Andreu comments

“As a company, 2cureX experienced a continuous progress in 2021, and we can proudly say that we reached the objectives we have set for the year.

In Q4 2021 we obtained three new distribution agreements covering four new countries, added one new test (Indi- Treat® Start) to our portfolio, enrolled the first hospital for our IGNITE program, and received the first commercial order in the history of 2cureX. With this we have further expanded our commercial reach, and this unprecedented series of events lay the ground for an ambitious 2022, where we expect to see IndiTreat® tests being routinely used to personalize cancer treatment across Europe.

We have grown the IndiTreat® distribution network from six countries in August 2021 to fourteen countries at the beginning of 2022, and for the full year of 2022 we expect to continue the expansion.

After we signed an agreement with Werfen (Spain) in September, then Labormed (Slovenia), Omnigen (Turkey) and Diamedica (Latvia and Lithuania) followed in Q4 2021. Furthermore, in the first week of January 2022 two new agreements with the companies Perlan (Poland) and Prome-dica (Czech and Slovakia) completed the current map.

All new distributors are In Vitro Diagnostics (IVD) compa-nies well established in their markets, with a portfolio of products that is complementary to IndiTreat®, and extensive coverage of our target customers through sales and customer support networks.

In December 2021 we launched the new IndiTreat® mCRC Start. IndiTreat® mCRC Start is a test to help oncologists decide which of the available chemotherapy combinations – known as FOLFOX, FOLFIRI and FOLFOXIRI – is better suited for a specific patient as first line treatment.

FINANCIAL HIGHLIGHTS
The financial development continues to be in line with our expectations, and with a cash position of SEK 72.9 million at the end of Q4 2021, our capital resources support the current activities and growth plans.”

2021 (2021-01-01 until 2021-12-31) – the group

Net turnover for the period was 0 KSEK (0 KSEK).
Other operating income was 7 391 KSEK (15 391 KSEK)
The result before tax was -21 679 KSEK (-8 591 KSEK)
The result per share* was -1.10 SEK (-0.54 SEK)
The solidity** was 93 % (93 %).
The cash and bank were 72 942 KSEK (58 577 KSEK).

*Earnings per share: Profit for the period divided by the average number of shares. Average number of shares for all 12 months in 2021: 16 418 767 shares. Total number of shares in 2cureX AB on December 31st, 2021: 17 475 716 shares.
**Equity ratio: Shareholder’s equity divided by total capital.

Significant events during the fourth quarter 2021

October:

2cureX signs distribution agreement with Labormed in Slovenia.

2cureX provides a Live Strategy Update on the company’s product portfolio and commercialization strategy on the 12th of October 2021.

2cureX provides commercial goals for 2022 at Live Strategy Update on the 12th of October 2021.

2cureX successfully completed the EU-project MicroCaT and receives the final financial tranche of a 3,0 MEUR grant.

Mangold Fondkommission AB publishs an updated Analyst Report on 2cureX

December:

First IndiTreat® order received from Labormed in Slovenia

First hospital joins the IndiTreat® Evaluation Program IGNITE

2cureX launches IndiTreat® mCRC Start test to guide 1st line treatment

2cureX reaches the goals of the 2021 rollout plan

New Distributor for IndiTreat® in Turkey through Omnigen Medical Products
Significant events after the period

January:

New Institutional shareholder

New Distributor for IndiTreat® in Czech Republic and Slovakia through Promedica, and in Poland through Perlan Technologies