Pharma Equity Group: Takeaways from Q3 event
Pharma Equity Group: Takeaways from Q3 event
Shares in Pharma Equity Group rose 4 % yesterday following the release of the company’s 3rd quarter report showing an expected net loss of DKK 4,4 million due to the company’s ongoing development of its pipeline product candidates as there is currently no revenue and not expected to be any before 2025. The company reiterated their expectation of a net loss of DKK 18-22 million for the full year. As the cash position was only DKK 1,5 million by September 30th, the company has so far negotiated bridge financing of DKK 6,5 million but expect to seek up to DKK 20 million as the company await to receive the repayment of its receivables from Portinho SA valued at DKK 64 million in the 3rd quarter report.
At the event Thomas K Selsø explained the technical reasons why the repayment still hasn’t been made, but remained confident it is only a matter of time before it happens.
At the event CMO Christopher Burton also gave an overview over the product pipeline and explained the concepts of the unique reposition strategy of Pharma Equity Group and presented a few highlights of each of the company’s product candidates in the pipeline. Christopher Burton also commented on the release of positive preliminary data of its phase 2 study regarding its RNX-051 product candidate to treat colon cancer.
All in all, the report and the event presentation suggested that Pharma Equity Group remain on track to deliver on both its product development and financial expectations.
Listen to the interview in Danish: PEG - Q3 and pipeline opdate
Disclaimer: HC Andersen Capital receives payment from Pharma Equity Group for a Digital IR/Corporate Visibility subscription agreement. /Claus Thestrup 12:05 PM 17-11-2023.