Enzymatica AB Interim report Q3/2022: A broader role for ColdZyme adds potential for the future

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Nov 02, 2022, 03:55 ET

LUND, Sweden, Nov. 2, 2022 /PRNewswire/ --

Significant events during the quarter

Significant events after the quarter

· To ensure the long-term financing of the business, in
September the company raised about SEK 74.7 million
before issue expenses through a rights issue. The rights
issue was fully subscribed, including 63 percent
subscribed with the support of subscription rights and 1
percent without the support of subscription rights. The
company's three largest shareholders, along with the
CEO and the Chairman of the Board, subscribed for the
remainder, 36 percent, in accordance with the guarantee commitments.

· On October 31, the journal Respiratory Research published
a study from the Medical University of Innsbruck, Austria,
which shows that ColdZyme blocks the widespread and
highly transmissible omicron variants BA.4 and BA.5 from
adhering to and infecting human cells. According to the
research group that conducted the study, this opens the
possibility that ColdZyme can be applied in the prevention
of SARS-CoV-2 spreading. Continued clinical trials are needed
to establish the effect in vivo.

Other events during the quarter

· The company's mouth spray was launched in Mexico and Turkey, expanding the company's market by more than 200 million consumers.

Third quarter

January-September

· Net sales reached SEK 18.5 (15.4) million.

· The operating result totaled SEK -12.6 (-6.0) million.

· The operating result includes non-recurring costs of SEK 6.2 million
as an effect of renegotiation of agreements with two of the company's business partners.

· Earnings per share, basic and diluted, were SEK -0.08 (-0.04).

· Cash flow from operating activities totaled SEK -6.0 (-16.2) million.

· Cash flow from financing activities totaled SEK 81.1 million, of which
SEK 69.1 refer to rights issue carried out in September.

· Net sales reached SEK 32.3 (38.5) million.

· The operating result totaled SEK -46.6 (-34.7) million.

· Earnings per share, basic and diluted, were SEK -0.31 (-0.24).

· Cash flow from operating activities totaled SEK 37.7 (-29.3) million.

· Net cash totaled SEK 57.3 (35.7) million.

"The study that has been published in Respiratory Research shows ColdZyme has the potential to move from a cold remedy product to a complement to vaccines in the protection against Covid-19. After a couple of very hard years, many signs now indicate that Enzymatica has passed the austerity caused by the pandemic. We see good possibilities of expanding in new and existing markets, we have a good organization in place, and strong business partners. I am convinced that there are a number of exciting and successful years ahead of us", said Claus Egstrand, CEO of Enzymatica.

The full year-end report is available on: www.enzymatica.com/investors/financial-reports

This information is information that Enzymatica is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 08:30 a.m. CET
on 2 November 2022.

For more information, please contact:

Claus Egstrand, Chief Executive Officer, Enzymatica AB
Phone: +44 7780 22 8385 | Email: [email protected]

Stefan Olsson, Communication Manager, Enzymatica AB
Phone: +46 708 55 11 85 | Email: [email protected]

Enzymatica AB is headquartered in Lund, Sweden, and is listed on Nasdaq First North Growth Market. For more information, please visit www.enzymatica.se. Enzymatica's Certified Adviser is Erik Penser Bank. Tel: +46 8 463 83 00 Email: [email protected]

The following files are available for download:

https://mb.cision.com/Main/18091/3659826/1647220.pdf

The full report (PDF)