Dicot (DICOT) Q2 2024 earnings summary

Executive summary

• No net sales reported for the first half of 2024; company remains in development phase.

• LIB-01 phase 1 clinical trial completed with strong safety and initial efficacy signals; phase 2a preparations underway.

• Strategic review initiated after LIB-01 showed potential for metabolic disease indications.

• Rights issue of approximately SEK 122.6 million planned to fund phase 2a study, with 65% already secured.

• Positive FDA pre-IND meeting supports U.S. clinical development plans.

Financial highlights

• Net sales were SEK 0 for both Q2 and H1 2024, unchanged from prior year.

• Loss after financial items for Q2 2024 was SEK -13.1 million (vs. -10.1 million Q2 2023); H1 2024 loss was SEK -26.8 million (vs. -20.0 million H1 2023).

• Earnings per share for Q2 2024 was SEK -0.02 (unchanged); H1 2024 was SEK -0.03 (improved from -0.05 H1 2023).

• Operating expenses increased to SEK 13.5 million in Q2 2024 (from SEK 10.2 million Q2 2023), mainly due to clinical and consultancy costs.

• Cash and cash equivalents at period end were SEK 17.1 million (down from SEK 53.6 million prior year).

Outlook and guidance

• Phase 2a clinical trial for LIB-01 planned to start in Q4 2024, fully funded by the upcoming rights issue.

• Strategic review in Q3 2024 to assess new metabolic disease indications.

• Plans for Nasdaq First North listing to support internationalization and competitiveness.