Business highlights in Q2 2023

  • In May the Company announced that WHO had selected the International Nonproprietary Name (INN) pudafensine as the official generic name for the company’s patented candidate drug IP2015, which is in clinical development in erectile dysfunction and neuropathic pain.
  • In June the Company announced positive, statistically significant, and dose-dependent clinical observations related to efficacy in psychogenic erectile dysfunction (ED) and no observations of serious or critical adverse events in the Phase IIa clinical trial of IP2018 in patients with mild to moderate ED.
  • In June the Company announced the decision to carry out a capital increase directed at members of executive management and key management under the long term incentive program for 2022 (“LTI2022-program”) and to conduct a buyback of shares in order to sell shares to the board of directors under the LTI2022-program.
  • In June the Company announced that it had completed recruitment of all planned patients for its Phase IIb clinical trial with pudafensine (IP2015). Topline results are expected in Q4 2023.

Business highlights after this reporting period

  • In July the Company announced positive data from a Phase I drug formulation and pharmacokinetics study in healthy subjects evaluating optimized oral solid dosage forms of pudafensine (IP2015), enabling a smooth and efficient bridging between previous data sets into new future clinical studies for pudafensine.
  • In August the Company announced that the European Patent Office (“EPO”) had granted the company’s patent application for the product candidate IP2018, targeting monoamine reuptake transporters.

Financial Highlights

Second Quarter (2023-04-01 – 2023-06-30)
Net revenue were TDKK 0 (0)
Operating loss, EBIT was TDKK -8,882 (-13,499)
Earnings per share before and after dilution was DKK –0.20 (-0.29)
Cash: TDKK 25,935 (31,099)
Solidity: 45% (89%)
First Six Months (2023-01-01 – 2023-06-30)
Net revenues were TDKK 0 (0)
Operating loss, EBIT was TDKK -17,559 (-28,574)
Earnings per share before and after dilution was DKK –0.38 (-0.62)

Solidity: equity divided by assets.

The Board of Directors have decided that interim reports will be published in English only.

Link to the full report