Dicot AB presents Interim report Q3 2023
Press release: Uppsala, Sweden, October 31, 2023. Dicot AB (publ) publishes the interim report for the period January-September 2023. The report is available as an attached document and on the company's website www.dicot.se. Below is a summary of the report.
Third quarter, June-September 2023
- Net sales amounts to KSEK 0 (0)
- Earnings after financial items amounts to KSEK -8,501 (-5,073)
- Earnings per share amounts to SEK -0.01 (-0.04)
"Important events are taking place for Dicot. At a research clinic in Uppsala, exactly 24 individuals have already been dosed", says Elin Trampe, CEO, as Dicot's drug candidate has now entered clinical phase 1.
Significant events during the quarter
- Both the Swedish Medical Products Agency and the Swedish Ethical Review Authority approve to start clinical trials with LIB-01. The primary objective is to assess the safety profile in humans.
- The study starts in August and the first participants are dosed at the Academical Hospital in Uppsala in September.
- A new patent application, covering the oral formulation of the investigational drug, is submitted as a provisional patent application (USA), that will be followed by an application to the Swedish Patent and Registration Office and thereafter for other markets.
- An additional patent application is filed; an international patent application through the Patent Cooperation Treaty with an opportunity for indirect protection in 157 countries already during the processing period. In addition, a fast track application for the key market USA is filed. The patent application encompasses drug substances under development and their manufacturing methods.
Significant events after the quarter
- The subscription price for the exercise of TO5 warrants is set at SEK 0.086, which corresponds to 70% of the stock's volume-weighted average price from October 13 to October 27.
- The Sexual Medicine Society North America selects Dicot's research findings as an item at its annual congress in November. Professor François Giuliano will present Dicot's preclinical program that underlies the potency drug candidate LIB-01.
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About Dicot AB
Dicot is developing the drug candidate LIB-01, which will be a potency agent to better treat erectile dysfunction and premature ejaculation. The ambition is to create a drug with significantly longer effect and far fewer side effects, compared to current available drugs. Today, over 500 million men suffer from these sexual dysfunctions and the market is valued at USD 8 billion. Dicot's strategy is to develop LIB-01 under own auspices until phase 2a studies and thereafter in partnership with larger, established pharmaceutical companies, finance and develop LIB-01 further to a registered pharmaceutical on the world market.
Dicot is listed on Spotlight Stock Market and has approximately 4,400 shareholders. For more information, please visit www.dicot.se.
Dicot utvecklar ett modernt potensläkemedel som ska behandla erektionssvikt och för tidig utlösning bättre än befintliga preparat.