Chordate Medical Holding (publ) Interim Report Jan-March 2022

Summary of the period January-March 2022

  • Net turnover was SEK 68,633 (101,626)
  • Cash flow from operating activities was SEK -6,765,843 (-5,489,848)
  • Profit/loss after financial items was SEK -7,379,154 (-5,799,097)
  • Profit/loss after tax was SEK -7,379,154 (-5,799,097)
  • Earnings per share were SEK -0.05 (-0.05) 

COMMENTS FROM CEO ANDERS WEILANDT 

WHAT AN EXCITING START TO 2022

At the beginning of the year and up to now in May 2022, we are seeing growing international interest in Chordate as a company and our technology. The combination of the listing on Nasdaq First North and the CE marking for migraines seems to have increased our exposure internationally. We are constantly analyzing the marketing opportunities that potentially should be developed, for example the choice of the model to start our establishment in the UK.

  • The migraine study is now fully recruited
  • Independent scientific article published on the KOS treatment for rhinitis.
  • Opening a representative office in Saudi Arabia and recruited General Manager Alain Durante
  • Completed pre-study on US FDA application, DeNovo application started
  • Our share switched to NASDAQ First North for improved visibility and service for our shareholders
  • Signed agreement with new marketing consultant in the UK

Saudi Arabia will be the base for expansion in the region

In order to best develop Saudi Arabia and expand the operations to the other countries in the GCC (Gulf Cooperation Council), we are in the process of opening a representative office in Riyadh and have recruited Alain Durante to be the general manager. He has almost twenty years of experience in sales and marketing in medical technology in Saudi Arabia and has led the work with our products at our distributor for over two years. We thus have a very good set-up to develop the region.

Our new marketing consultants in the UK see potential for the migraine treatment

The market potential is significant with around 10 million migraine patients in the country according to the NHS. This is a long-term project that we assess could generate profit over time.

During the initial phase, the marketing activities in the UK will be focused on building up a network of opinion-leading neurologists, primarily among private care providers.

Listing on Nasdaq First North

The Companys share has been listed on NGM SME since March 2017. Following a decision by the Board to switch to the NASDAQ First North, the listing change went ahead on February 15. The Board of Directors makes the assessment that the listing change is positive for Chordates development and the fulfillment of our expressed exit strategy.

Project for US market approval from the FDA

The pre-study, which aims to find the right path for an application for marketing authorization for the migraine indication in the USA, resulted in the shift in March-April to a so-called DeNovo application. The project has now entered Phase 2, which, together with our US consultants at RQM+, is to obtain the FDAs view on how we have chosen to plan the final application.

The patient study on migraine is fully recruited

The remaining four Finnish clinics in the study have now recruited the last patient to start treatment. A patient spends ten weeks in the study in total. The scientific article from the study is expected to be completed as early as the end of the third quarter of this year. Since CE marking has already been obtained, the sole aim of the study in Germany and Finland is to support future marketing activities and gather data for the publication of a scientific article.

In the cards for 2022

Everything is progressing according to plan so far. We continue to follow the marketing plan for 2022. This applies naturally to both the migraine and the rhinitis indications, but we will have a stronger focus on migraine.

Information:
This disclosure contains information that Chordate Medical Holding AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the contact person below, on May 27th, 2022, at 08:30 a.m. CET.

For more information, please contact:
Anders Weilandt, CEO
[email protected]
Cell: +46 733-874277

About Chordate
Chordate Medical Holding AB (publ) is a medical technology company that for over ten years has developed, patented and CE-marked a new neuromodulation treatment technology for chronic nasal congestion (rhinitis) and chronic migraine. The company offers its product via distributors to clinics and hospitals in selected European markets, Israel, and Saudi Arabia. Chordate Medicals share is listed on Nasdaq First North Growth Market Stockholm (ticker: CMH). Read more at www.chordate.com

Chordate's Certified Adviser on Nasdaq First North Growth Market Stockholm is Västra Hamnen Corporate Finance AB, +46 40 200 250, [email protected].

N.B. The English text is an in-house translation of the original Swedish text. Should there be any disparities between the Swedish and the English text, the Swedish text shall prevail.

Chordate Medical har fått besked om beviljande av ytterligare patentskydd för huvudvärksbehandling i USA

Chordate Medical Holding AB (Publ.) meddelar att det amerikanska patentverket har utfärdat ett beslut om att de avser bevilja Chordates patentansökan US 16/938,383 från 2020. 


Chordate Medical has been notified of the granting of additional patent protection for headache treatment in the United States

Chordate Medical Holding AB (Publ.) announces that the US Patent Office has issued a decision that they intend to grant Chordates patent application US 16 / 938,383 from 2020. 


Chordate Medical uppdaterar om pågående och planerade kliniska studier

Chordate Medical har för tillfället två aktiva studier, och ytterligare två som är i planeringsstadiet. Syftet med bolagets kliniska utvecklingsprogram är att stödja den pågående marknadsintroduktionen av K.O.S-teknologin för kronisk migrän i EU och lägga grunden för regulatoriskt marknadstillträde på andra marknader såsom USA.

- Vår kliniska utvecklingsstrategi syftar till att själva genomföra studier av specifik karaktär och kortare varaktighet, och att uppmuntra och underlätta andra oberoende och externt initierade studier när sådana möjligheter uppstår, säger Anders Weilandt, vd Chordate.


Chordate Medical updates on ongoing and planned clinical studies

Chordate Medical has two active studies, and another two that are in the planning stage. The purpose of the company's clinical development program is to support the ongoing market introduction of the K.O.S technology for chronic migraine in the EU and lay the foundation for regulatory market access in other markets such as the USA.

"Our clinical development strategy is aimed to conduct studies of specific nature and shorter duration ourselves, and to encourage and facilitate other independent external investigator-initiated studies once such opportunities arise", says Anders Weilandt, CEO Chordate.




Chordate Medical presenterar delårsrapport för Q1 2022

Chordate Medical Holding (publ) offentliggör sin delårsrapport för Q1 2022 fredagen den 27 maj 2022 klockan 08:30. Måndag den 30 maj klockan 14:00 bjuder bolaget in till en webbsänd telekonferens med vd Anders Weilandt. Efter konferensen följer en frågestund. Det går att följa konferensen via dator eller mobila enheter.


Chordate Medical presents interim report for Q1 2022

Chordate Medical Holding (publ) publishes its interim report for Q1 2022 on Friday, May 27th, 2022, at 08:30. On Monday, May 30th at 14:00, the company invites the public to a livestreamed teleconference with CEO Anders Weilandt. The conference is followed by a Q&A session. You can follow the conference via computer or mobile devices.


Chordate Medicals vd Anders Weilandt presenterar på BioStock Life Science Spring Summit 8 juni

Chordate Medicals vd Anders Weilandt deltar på BioStock Life Science Spring Summit 8 juni, klockan 11:20. Han kommer presentera de senaste händelserna och utvecklingarna i bolaget, såsom den nyligen avklarade första fasen i ansökan om marknadstillstånd för K.O.S-behandlingen i USA, det kommande representationskontoret i Saudiarabien och marknadsinsatserna i Storbritannien.


CEO Anders Weilandt presents Chordate Medical at BioStock Life Science Spring Summit on June 8th

Chordate Medical's CEO Anders Weilandt will participate on BioStock Life Science Spring Summit on June 8th, at 11:20. He will present the latest developments in the company, such as the recently completed first phase of the marketing authorization process in the United States, the upcoming representative office in Saudi Arabia and the marketing efforts in the United Kingdom.


Chordate Medicals vd Anders Weilandt deltar på investerarkonferens 9 juni

Torsdag 9 juni klockan 14.10 deltar Chordate Medicals vd Anders Weilandt på en investerarkonferens som anordnas av Västra Hamnen Corporate Finance i samarbete med Nordnet. Han kommer presentera de senaste händelserna och utvecklingarna i bolaget, såsom den nyligen avklarade första fasen i ansökan om marknadstillstånd för K.O.S-behandlingen i USA, det kommande representationskontoret i Saudiarabien och marknadsinsatserna i Storbritannien.


CEO Anders Weilandt presents Chordate Medical at Investment event on June 9th

On Thursday, June 9th, 14:10 CET, Chordates CEO Anders Weilandt will participate on an investment event hosted by Västra Hamnen Corporate Finance. He will present the latest developments in the company, such as the recently completed first phase of the marketing authorization process in the United States, the upcoming representative office in Saudi Arabia and the marketing efforts in the United Kingdom.


Kommuniké från årsstämma i Chordate Medical (publ)

Chordate Medical Holding AB (Publ) ("Chordate" eller "Bolaget") har den 25 april 2022 hållit årsstämma, varvid följande huvudsakliga beslut, i enlighet med kallelsens förslag, fattades.


Patientstudien nu färdigrekryterad

Chordate Medical bedömer att tillräckligt många patienter rekryterats till studien om migrän som genomförs i Tyskland och Finland - och att patientantalet som studiedesignen föreskriver därmed är uppfyllt.


The patient study is now fully recruited

Chordate Medical estimates that a sufficient number of patients have been recruited for the study on migraine which is being carried out in Germany and Finland - and that the number of patients prescribed by the study design has thus been met.


Chordate Medicals vd Anders Weilandt presenterar på Aktiedagen 2 maj

Måndag 2 maj klockan 11.00 deltar Chordates vd Anders Weilandt på Aktiedagen Stockholm. Han kommer presentera de senaste händelserna och utvecklingarna i bolaget, såsom den nyligen avklarade första fasen i ansökan om marknadstillstånd för K.O.S-behandlingen i USA, det kommande representationskontoret i Saudiarabien och marknadsinsatserna i Storbritannien.


CEO Anders Weilandt presents Chordate Medical at Aktiedagen on May 2nd

On Monday 2 May, 11:00, Chordate's CEO Anders Weilandt will participate on Aktiespararnas event Aktiedagen Stockholm. He will present the latest developments in the company, such as the recently completed first phase of the marketing authorization process in the United States, the upcoming representative office in Saudi Arabia and the marketing efforts in the United Kingdom.


Rättelse av kallelse till årsstämma i Chordate Medical Holding AB (publ) avseende stycket om Registrering och anmälan

Aktieägarna i Chordate Medical Holding AB (publ) har kallats till årsstämma den 25 april 2022 klockan 12.00 i bolagets lokaler, Regus Kistagången 20B i Kista. I stycket om registrering och anmälan stod felaktigt att sista dag att anmäla sitt deltagande var 13 april. Rätt datum skall vara 19 april. Korrekt lydelse i stycket följer nedan.


Följ oss

Om beQuoted

beQuoted publicerar nyheter, analyser och pressmeddelanden för investerare och journalister. Viktiga företagshändelser bevakas av vår egen nyhetsredaktion och vidaredistribueras i ledande finansiella medier.

Vi uppdaterar även nyhetsrum, Investor Relations och IR-webbplatser för företag som vill utveckla sina relationer med finansmarknaden.

Kontakta oss

beQuoted AB
Nybrogatan 34
Box 5216
102 45 Stockholm

08-692 21 90

Om beQuoted