Isofol Medical AB (publ) publishes interim report, January-June 2022

GOTHENBURG, Sweden, Aug. 23, 2022 /PRNewswire/ -- Isofol Medical AB (publ), (NASDAQ Stockholm: ISOFOL), announced today that the company's interim report for January-June 2022 is now available on the company's website, www.isofolmedical.com.

The information in the press release is intended for investors.

Second quarter, April–June 2022           

• Net revenue amounted to TSEK 4,027 (7,333) and other revenue to TSEK 0 (0)
• The result for the period amounted to TSEK -54,033 (-45,394)
• Earnings per share amounted to SEK -0.33 (-0.48)
• Cash and cash equivalents at June 30 amounted to TSEK 277,727 (530,682)

First half of the year, January-June 2022          

• Net revenue amounted to TSEK 8,033 (12,548) and other revenue to TSEK 1 (0)
• The result for the period amounted to TSEK -101,907 (-88,055)
• Earnings per share amounted to SEK -0.63 (-0.99)

Significant events during the second quarter 2022           

• On April 22, it was announced that the analysis process of study data from the AGENT study had begun.
• Jan Törnell was elected as new Chairman of the Board of the company in conjunction with the Annual General Meeting on May 19.

Significant events after the event of the period          

• On August 3, Isofol presented the topline results of the global pivotal AGENT study in advanced colorectal cancer. The data revealed that the study did not achieve the primary endpoint of objective response rate (ORR) or the key secondary endpoint of progression-free survival (PFS).
• In July, Isofol received approval of a biomarker analysis patent.

CEO´s comment:

" It is incredibly disappointing that the results from the top-line analysis did not demonstrate the advantages we had hoped for. Final data and sub-group analyses will be decisive for the final assessment of our application options. I would like to point out that Isofol has a strong financial position, which will enable us to complete the AGENT study and analyze the final data in an efficient and reliable manner. This is very important in the situation we now find ourselves in.", says CEO Ulf Jungnelius.

Audiocast, August 23, at 12:30 p.m. CEST

In conjunction with the publication of the interim report for the second quarter of 2022, Isofol invites investors, analysts, and media to an audiocast on August 23, 2022 at 12:30 p.m. CEST. The presentation will be held by Isofol´s CEO Ulf Jungnelius and CFO Gustaf Albèrt, who will present and comment the report, followed by a Q&A-session. The presentation will be held in English.

Date and time
August 23, 2022, at 12.30 p.m. CEST

Webcast link
https://tv.streamfabriken.com/isofol-medical-q2-2022

Phone number
To participate via telephone, please dial one of the numbers below.
SWE: +46 8 50 51 63 86
UK +44 203 198 48 84
US +1 412 317 6300, PIN 3977834#

The presentation will also be available on Isofol's website after the broadcast:
https://isofolmedical.com/company-presentations/

For more information, please contact

Isofol Medical AB (publ)
Ulf Jungnelius, M.D., CEO
E-mail: [email protected]
Telephone: +46 709-16 89 55

Gustaf Albèrt, CFO
E-mail: [email protected]
Telephone: +46 709-16 83 02

This information is information that Isofol Medical AB (publ) is obliged to make public pursuant to the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 08:00 CEST, on August 23, 2022.

About Isofol Medical AB (publ)

Isofol Medical AB (publ) is a clinical stage biotech company that is progressing and advancing current standards of care for people living with cancer by working to improve the efficacy of the current chemotherapeutic standards of care. Isofol is focused on developing a drug for the first line treatment of metastatic colorectal cancer (mCRC) and seeks to elevate current clinical practice by unlocking the full strength of 5-FU with the addition of arfolitixorin. Isofol holds a worldwide exclusive licensing agreement with Merck & Cie, Schaffhausen, Germany to develop and commercialize arfolitixorin for use in oncology. Isofol Medical AB (publ) is traded on Nasdaq, Stockholm.

www.isofolmedical.com

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SOURCE Isofol Medical AB (publ)