Cessatech (CESSA) Q2 2024 earnings summary

Executive summary

• No revenue generated in Q2 2024; net loss of DKK -3.4 million aligns with development-stage expectations.

• Focused on US launch preparations for CT001, with launch anticipated in the second half of 2024 pending final approvals.

• First patient dosed in pivotal Paediatric Safety Study 0202; over 20% of patients recruited by end of June.

• Superior simulated pain efficacy data for CT001 in children presented at PAGE conference.

• Board strengthened with addition of Anders Dyhr D-Toft, bringing global launch experience.

Financial highlights

• Net revenue was DKK 0 in Q2 2024; operating loss DKK -5.4 million, net loss DKK -3.4 million.

• Cash at bank at period end was DKK 9.9 million; solidity ratio at 92-95%.

• Operating loss improved compared to Q2 2023 (DKK -5.4 million vs. DKK -6.2 million), mainly due to changes in clinical study costs.

• No significant investments; cash flow mainly related to clinical activities.

• Loan facility of DKK 10 million extended in August 2024, providing flexibility for 18-24 months.

Outlook and guidance

• US launch of CT001 expected in H2 2024, pending final local approvals and manufacturing readiness.

• Continued focus on clinical development and commercial readiness for CT001.

• Cash position, including extended loan facility, considered sufficient for upcoming periods.