INITIATOR PHARMA: YEAR END REPORT 2020

Financial Highlights

Initiator Pharma A/S is a Danish registered company, and is reporting its financial situation in Danish kroner (DKK).

Fourth Quarter (2020-10-01 – 2020-12-31)
  • Net revenues were TDKK 0 (0)
  • Operating loss, EBIT was TDKK -2,069 (-2,503)
  • Earnings per share was DKK –0.01 (-0.06)
Full Year (2020-01-01 – 2020-12-31)
  • Net revenues were TDKK 0 (0)
  • Operating loss, EBIT was TDKK -10,531 (-9,339)
  • Earnings per share was DKK –0.32 (-0.34)
  • Cash and bank: TDKK 13,504 (7,562)
  • Solidity: 92% (87%)

Group earnings per share: period result divided by a number of 27 375 419 shares. Solidity: equity divided by assets.

Business highlights in Q4 2020

  • On October 1st it was announced that screening for the Phase 2a trial for IP2018 was ongoing, with first dosing of patients expected shortly.
  • On November 5th it was announced that we have secured a grant from Innovation Fund Denmark of up to DKK 3.8 mill covering the Phase 2a trial for IP2018.
  • On November 24th it was announced that the exercise period for the warrants of series TO2.
  • On November 25th it was announced that we had secured funding for IPED2015 clinical Phase 2b study – signs financing agreement with MAC Clinical Research worth up to 23 SEKM.
  • On December 8th it was announced that screening is ongoing and first dosing expected soon in Phase 2a trial with IP2018.
  • On December 9th it was announced that the first patient had been dosed in Phase 2a trial in IP2018.
  • On December 10th it was announced last day of trading in warrants of series TO2.
  • On December 10th it was announced that Erik Penser Bank publishes analysis of Initiator Pharma.
  • On December 10th it was announced the strengthening of the management team and the initiation of our Scientific Advisory Board.
  • On December 11th it was announced that board and management exercises warrants of series TO2.
  • On December 11th it was announced that Formue Nord Markedsneutral A/S exercises warrants of series TO2 corresponding to approx SEK 4.6 mill.
  • On December 17th it was announced that Initiator Pharma receives approximately SEK 8.9 mill through exercise of warrants of series TO2.
  • On December 18th the summons for an EGM on January 14th were published.   
  • On December 23rd it was announced that board members and management exercises incentive warrants.

Significant events after this reporting period­

  • On January 14th the published the protocol from the EGM held on January 14th, approving the financing agreement with MAC Clinical Research and expanding the board.

For more information, please contact

Claus Olesen, CEO, Initiator Pharma, Mobile: +45-61 26 00 35, E-mail: ceo@initiatorpharma.com

Torgeir Vaage, CFO, Initiator Pharma, Mobile: +47-924 05 235, E-mail: tv@initiatorpharma.com

About Initiator Pharma

Initiator Pharma A/S is a Danish biotechnology company focusing on the development of innovative drugs, targeting key unmet medical needs within the central and peripheral nervous system. Our research is focusing on monoamine reuptake inhibitors, molecules that are affecting the synaptic concentrations of neurotransmitters such as dopamine, serotonin and noradrenaline. Our lead drug candidates are: IPED2015 is targeting the medical condition Erectile Dysfunction (ED), and specifically patients with ED that are non-responsive to drugs within the PDE5i class, including the approved drugs ViagraÓ, CialisÓ and LevitraÓ. IP2018 is a monoamine reuptake inhibitor for the treatment of psychogenic Erectile Dysfunction (mainly caused by anxiety and depression) primarily targeting the serotonin followed by the dopamine system. IP2018 is different from our frontrunner IPED2015 for organic erectile dysfunction (mainly caused by diabetes and age), primarily targeting the dopamine system. Due to the unique profile, IP2018 will, if successful, treat patients suffering major depressive disorder where the majority also suffer from comorbid sexual dysfunction or treatment-emergent sexual dysfunction.

Initiator Pharma is based in Aarhus, Denmark. Initiator Pharma is listed on Spotlight Stockmarket and has about 4.000 shareholders. Read more at www.initiatorpharma.com.