Eurocine Vaccines Q3_ENG 2022-05-20

Eurocine Vaccines AB (publ) (”Eurocine Vaccines) hereby publishes the interim report for July 2021 to December 2022. Below is a summary of the report. The full report is available on the Eurocine Vaccines website (https://eurocine-vaccines.com/) and as an attachment.

2022-01-01 – 2022-03-31 (third quarter)

· Results after tax for the quarter amounted to -5,6 Mkr (-4,6 Mkr)
· Revenues for the quarter amounted to 0 Tkr (75 Tkr)
· Earnings per share for the quarter amounted to -0,397 kr (-0,582 kr)

2021-07-01 – 2022-03-31 (nine month period)

· Results after tax for the period amounted to -15,0 Mkr (-12,2 Mkr)
· Revenues for the period amounted to 0 Tkr (457 Tkr)
· Earnings per share for the period amounted to -1,053 kr (-1,544 kr)

Highlights during the period

 

Eurocine Vaccines entered into agreement with Flerie Invest to secure exercise of warrants of series TO 4

In February 2022, Eurocine Vaccines entered into an agreement to secure the redemption of warrants of series TO 4 with Flerie Invest for the exercise period which took place from 14 to 28 March 2022. The agreement relates to guarantee and subscription commitments of approximately 61.4 percent of the issue volume.

Eurocine Vaccines announced that Flerie Invest enters lock up

In connection with the agreement to secure the redemption of warrants in February, Flerie Invest entered into a lock-up agreement for 100 percent of its shareholding, corresponding to 13 percent of the total share capital and votes in the company.

Eurocine Vaccines announced subscription price for the exercise of warrants of series TO 4

Eurocine Vaccines announced that the subscription price for warrants of series TO 4 amounted to SEK 1.41 per share.

 

Eurocine Vaccines announced outcome of option exercise

In March 2022, Eurocine Vaccines announces that approximately 84.5 percent of the TO 4 warrants were exercised. Including the subscription and guarantee commitment from Flerie Invest, Eurocine Vaccines received approximately SEK 4.5 million before issue costs.

Highlights after the period

 

Vaccines announced the date for conversion of interim shares

In April 2022, Eurocine Vaccines announced that conversion of interim shares into ordinary shares would take place on 14 April 2022.

CEO Hans Arwidsson

 

Our third quarter is now completed and in addition to our continued work towards initiating clinical phase with our chlamydia vaccine candidate, we have also focused on the further development of our portfolio of vaccine candidates. The beginning of 2022 has meant intensive work, evaluating and negotiating additional vaccine candidates that I look forward to sharing with the market. The expansion of our portfolio of innovative vaccine candidates is a strong value driver for the company, given Eurocine Vaccines’ extensive knowledge and experience in vaccine development, but perhaps particularly important to meet our society’s need for modern and effective vaccines.

Internationally as well as in Sweden, vaccines and vaccine developers are increasingly highlighted as important societal functions to ensure global public health – new vaccines are needed to keep up with new and constantly mutating pathogens and thereby contribute to the health of future generations. We are proud to be part of that context and it motivates us every day in our development work.

During the quarter, we successfully completed the warrant exercise, and I would like to thank all who chose to exercise their TO 4. Extensive work is currently underway to ensure the quality of the various stages of the manufacturing process in preparation for the clinical trial. The capital will finance, among other things, this work. In total, approximately 84.5 percent of the TO 4 were subscribed and, in combination with the support of our main shareholder, Flerie Invest, we were able to achieve 100 percent of the issue volume. This will fund objectives in the near future such as the scale-up and manufacturing of the study product and the start of the toxicology study ahead of the planned start of the clinical trial in the first half of 2023.

Building a vaccine portfolio is time-consuming and requires a broad combination of skills and experience in vaccine development, vaccine markets, law, and business development, competencies that the senior team in Eurocine Vaccines have. These are the right competencies to build a strong portfolio where we develop and refine multiple innovations into attractive candidates.

In addition to identifying, evaluating, and negotiating additional vaccine candidates, where our recent focus has been on evaluation and negotiation, we are also working long-term to prepare the vaccine companies that are our potential future partners for the chlamydia vaccine candidate. Even though the vaccine market is relatively concentrated to a limited number of large global players, I am very pleased with the interest that I meet, both in partnering conferences and in direct contacts in our large network.

As we approach the end of the financial year, I look back on a developing year in which we have completed a number of important activities that have resulted in a solid foundation for further planning of our upcoming clinical trial with the chlamydia vaccine candidate.

Finally, I would like to thank all shareholders in Eurocine Vaccines for your trust. Together with the team, I look forward to continuous success, both in the development of the chlamydia vaccine candidate and in the expansion of the vaccine portfolio.

Please follow us at upcoming activities, which will appear in our Calendar, and see our latest presentation, Aktiedagen Stockholm on 14 March.

 

Hans Arwidsson – VD, Eurocine Vaccines AB