Spexis provides business update and announces financial results for the full year 2022 - Seite 3

Spexis intends to advance iMPV into Phase 1b/2 studies in CF patients in 2023, with the potential to expand development efforts into moderate to severe non-CF bronchiectasis (“nCFBE”), a significant additional market opportunity.

Financial Results

In the full year of 2022, Spexis’ total loss was CHF 18.6 million, primarily driven by research and development (R&D) expenditures of CHF 12.7 million. R&D expenditures are expected to increase in 2023 as the company launches the Phase 3 trial for ColiFin, beginning with the COPILOT study in mid-2023. Spexis’ cash position as of December 31, 2022 was CHF 1.8 million (cash and cash equivalents). In April, Spexis received a capital commitment of USD 4.5 million from SPRIM Global Investments, as part of a clinical trial partnership expected to provide up to half of the projected ColiFin Phase 3 development costs, including those involving both COPILOT and COPA.

Key figures¹

CHF million

Income Statement	2022	2021
Total revenue	0.0	0.0
Research and development expenses	-12.7	-0.9
Other operating expenses	-6.0	-3.4
Net loss for the period	-18.6	-11.9
Balance Sheet	2022	2021
Cash on hand	1.8	14.4
Total assets	30.0	50.0
Total equity	19.4	30.2
Average net cash burn2	-1.0	0.2
Number of FTE	28	28
Equity ratio in %	65	61

¹⁾ based on the consolidated IFRS financial statements
²⁾ represents the average monthly cash used in operating and investing activities

The annual report 2022 is available for download on our website: https://www.spexisbio.com/investor-relations/reporting/

For further information please contact:

For Investors:       Hernan Levett Chief Financial Officer Spexis AG. [phone] [e-mail]

For Media: Dr. Stephan Feldhaus Feldhaus & Partner [phone] [e-mail]

About Spexis
Spexis (SIX: SPEX) is a clinical-stage biopharmaceutical company based in Allschwil, Switzerland, focused on rare diseases and oncology. For further information please visit: www.spexisbio.com.

Disclaimer

This press release contains forward-looking statements which are based on current assumptions and forecasts of Spexis management. Known and unknown risks, uncertainties, and other factors could lead to material differences between the forward-looking statements made here and the actual development, in particular Spexis’ results, financial situation, and performance. Readers are cautioned not to put undue reliance on forward-looking statements, which speak only of the date of this communication. Spexis disclaims any intention or obligation to update and revise any forward-looking statements, whether as a result of new information, future events or otherwise.