Press release from Companies
Publicerat: 2020-11-30 13:51:27
Completion of summary for published press release.
Correction: Equtiy ratio for the period 1 July – 30 September 2020 is 0.77. It was recorded as -0.77 in the published interim report.
Financial overview 1 July – 30 September 2020: Highlights during the period: Highlights after the period: Comments by the CEO First, I want to thank the team and all our early stage investors and express how proud I am of everything we have achieved. We have each had to sacrifice a lot to stand here today for a much greater purpose than ourselves - and what a journey - I would not have changed or replaced my last 3 years for anything else. This is our first interim report as a public and listed company, and I would like to take the opportunity to comment on some of the highlights that have happened these recent months, both during and after the period. Overall, this Q3 2020 report reflect the ongoing development phase that the company is undergoing. This interim report is also our first opportunity to send our gratitude to all of you who have chosen to follow our journey and participate in the IPO. We have an exciting future ahead of us and we are now a few steps closer to realizing our vision. A vision based on a foundation of care, from which we grow our passion to improve health and life quality for patients with challenges. We challenge status quo, based on knowledge and innovation and we innovate life-changing technology – and if that means we need to challenge conventions, then that is what we do. The period for Q3 2020 largely reflects the large and (time) demanding work leading up to our IPO – which we completed with great success where our IPO was subscribed to approx. 183 percent (DKK 55 million) – and approx. 433 percent for the publicly part (non-pre-subscribed). Everything seemed to be a good and solid first day of trading and on Thursday, November 12, we were introduced as a publicly traded company when trading opened on Spotlight Stock Market at 09:00. However, it should turn out to be a tough first trading day for DanCann Pharma as a listed company - and a remarkable outcome after an otherwise promising subscription and interest. From a managerial and organizational point of view, an outcome we have turned into a strong motivation boost. We are still overwhelmed and incredibly grateful for the great interest shown in our new share issue. The proceeds we have received will be used solely to develop our ability to make a difference for those in need for alternative treatment. I would like to welcome our many new shareholders (1,644 new shareholders from the day we were listed) who have become a part of our company and journey. Thank you to all parties who have somehow been involved and made all this possible. The 2-year-annual review of the Pilot Programme from the Danish government and the Danish Medicines Agency is expected to be published before the end of 2020, which has been postponed several times partly due to COVID19. It is by the management team’s strongest and clearest belief that the program is being extended – however – a review whose assessment can turn many things upside down, potentially to our advantage depending on the content and changes of the review. As a company, we are potentially facing some major strategic choices to be made - which, on the part of the management team, is assessed as strengthening our position in the market. This due to our business model which possesses strong flexibility and readiness for change – if the outcome should be that the strategy should be changed in a new or different direction. The uncertainty of the outcome has beenincorporated into our strategy from the very first beginning. We continue to see our current position as an advantage in relation to how the market has developed and that we have not "rushed" our business - but carefully considered how to approach this task. This is, as always, reflected in all the choices we, as an organization, make – to ultimately ensure patient safety and satisfying results for our stakeholders and shareholders. Financial calendar Year-end report 2020 26/02/21 For further information, please contact: Jeppe Krog Rasmussen, CEO About DanCann Pharma A/S
Annual report: 08/04/21
Annual General Meeting 28/04/21
Interim report Q1 28/05/21
Interim report Q2 27/08/21
Interim report Q3 26/11/21
E-mail: jkr@dancann.com
Web: www.dancann.com
DanCann Pharma was founded in 2018 and is a Danish pharmaceutical biotechnology company powered by cannabinoids. DanCann Pharma is a vertically integrated, licensed cultivation and distribution company based in Denmark. The company focuses on discovering, developing, manufacturing, and commercializing new therapeutic cannabinoids in a wide range of disease areas.