Spago Nanomedical interim report January-June 2023

LUND, SE / ACCESSWIRE / July 31, 2023 / Spago Nanomedical (STO:SPAGO.ST) (FRA:7UX.F) Tumorad® into clinic

JANUARY - JUNE IN BRIEF

• Net sales for the quarter amounted to KSEK 114 (KSEK 304)
• The loss for the quarter amounted to KSEK -7,866 (KSEK -9,565)
• Operating expenses for the quarter amounted to KSEK -10,982 (KSEK -11,084)
• Earnings per share, before and after dilution, for the quarter amounted to SEK -0.09 (SEK -0.23)
• Cash and cash equivalents at the end of the quarter amounted to KSEK 31,392 (KSEK 29,414)

JANUARY - JUNE IN BRIEF

• Net sales for the half-year period amounted to KSEK 201 (KSEK 515)
• The loss for the half-year period amounted to KSEK -22,274 (KSEK -19,445)
• Operating expenses for the half-year period amounted to KSEK -28,150 (KSEK -22,184)
• Earnings per share, before and after dilution, for the half-year period amounted to SEK -0.24 (SEK -0.47)

SIGNIFICANT EVENTS DURING THE QUARTER

• The application for the start of the clinical phase I/IIa study of the radionuclide therapy program Tumorad with the candidate drug 177Lu-SN201 in cancer patients, Tumorad-01, was submitted to an Australian ethics committee.
• Principal investigator Dr Ligita Jokubkiene presented observations from the ongoing phase IIa clinical trial SPAGOPIX-02 in endometriosis at the 15th World Congress on Endometriosis scientific conference.
• Hans Arwidsson was elected as new chairman of the board and Alan Raffensperger as new board member by the annual general meeting to increase the commercial focus. Kari Grønås and Nicklas Westerholm were re-elected.
• A Scientific Advisory Board (SAB) of scientific and clinical leaders in oncology and nuclear medicine was established to provide support and guidance in the clinical development of the Tumorad radiopharmaceutical program. At the outset the SAB consists of three prominent members; Professor Sten Nilsson, Professor Kristian Pietras and Dr. Austin Smith.
• A preliminary analysis of data from the phase IIa clinical study SPAGOPIX-02 shows that SN132D has a good safety profile in patients with endometriosis. Further evaluation of the MRI contrast enhancing properties, particularly in lesions indicative of deep endometriosis, is ongoing.

CEO STATEMENT