2018 SECOND QUARTER (Apr-Jun)
2018 FIRST HALF YEAR (Jan-Jun)
IMPORTANT EVENTS AFTER THE END OF THE PERIOD
From the CEO
During the first half of this year our focus has been on the preparations for the launch of VagiVital®. We have obtained the CE mark for the product, secured manufacturing capacity and product quality, developed an attractive and selling product design and evaluated different sales channel options. In addition, we have kept searching for distributors outside Sweden.
It is satisfying to see that we have achieved our objectives and targets, which means that we were ready to push the launch button in early July. We decided to start selling VagiVital® via our webshop at www.vagivital.se . This in anticipation of the pharmacy chains’ decision on when VagiVital® will be carried either in the street shops or webshops.
During this autumn, we will step up advertising and marketing activities to reach a greater portion of patients and thereby increase traffic to our webshop.
In June we signed the first distribution agreement for VagiVital® outside Sweden. Orion Corporation will become our distributor in Finland and product launch is planned before the end of this year. Hence, we expect a first order from Finland in the near future. Orion will market and sell the product under its own trademark. Discussions with distribution partner candidates for additional territories are underway. All going well, these discussions may result in additional distribution agreements by the end of this year.
In May a rights issue was announced that was subscribed at 170 percent. It generated proceeds of MSEK 12m before costs of SEK 2m. The proceeds will be used for the launch and marketing/promotion of VagiVital®.
The result of the first half of this year showed an increased loss by SEK 1.1m as compared with the same period last year. Cash in bank was SEK 10.5m. During the first half of 2017 net SEK 3.1m of intangible assets were balanced, whereas the corresponding figure for H1 2018 was SEK 0.4m. Hence, the negative cash flow of the going business, including intangible assets, has been reduced by SEK 1.6m. This despite considerable costs for the CE –mark and pre-launch activities during the second quarter 2018 – a rather good performance.
During the coming months we will closely monitor the sales development of VagiVital® and analyse the outcomes of different marketing/promotion activities. We will participate in national meetings to meet with gynaecologists, midwives and representatives of the pharmacy chains. We will actively advertise in the social media and develop alliances with influencers to strengthen our messages to the target patient groups.
Stockholm, August 17th, 2018
Peptonic Medical is an innovative Swedish development company. Our vision is to offer safe and effective treatments for women suffering from vaginal atrophy during menopause and after.
VagiVital® is a trademark of Peptonic Medical. The product is hormone free and is being commercialised for the non-prescription use for the treatment of vaginal atrophy.
In July 2014, Peptonic Medical was listed on the AktieTorget stock exchange (www.aktietorget.se, ticker: PMED) in Stockholm.
For more information: www.peptonicmedical.com
VagiVital® is a hormone free self-care product for the treatment of vaginal atrophy and vaginal dryness. The product has been tested in randomised clinical studies (vaginal atrophy) with very positive results both for objective (vaginal pH and proportion of superficial cells in the vaginal mucosa) and subjective (most bothersome symptoms, such as vaginal dryness, vaginal irritation/itching, dyspareunia and dysuria) parameters. The magnitude of symptom relief is on par with that demonstrated with e.g. estrogen based products on the market today. It was very well tolerated and caused no serious adverse effects.
Peptonic Medical has launched VagiVital® as a non-prescription self-care product in 2018. For more information: www.vagivital.com
Net sales – Currently the company has no sales.
Costs – Costs for the second quarter were KSEK -3,563 (-2,559). Costs for the first half year were KSEK
Result – Loss before taxes for the second quarter was KSEK -3,589 (-2,592). Loss before taxes for the first half year was KSEK -6,347 (-5,273).
Financial position and liquidity – Liquid assets were KSEK 10,534 (3,333) as of June 30, 2018.
Equity – The equity amounted to KSEK 64,345 (56,369) as of June 30, 2018. 93 (90) percent of which is shareholders funds.
Organization – The average number of employees during the period was 2 (2). At the end of the period the number of employees was 2 (2).
Share – Total numbers of shares in the company amounted to 86,028,600 (20,602,984), as of June 30, 2018.