Summary of Interim Report January - June 2021, Dicot AB

Second quarter 2021

• Net sales amounts to KSEK 33 (0)
• Earnings for the period amounts to KSEK -5,503 (-3,152).
• Earnings per share SEK -0.09 (-0.18)

January - June 2021

• Net sales amounts to KSEK 69 (0)
• Earnings for the period amounts to KSEK -13,971 (-9,724).
• Earnings per share SEK -0.26 (-0.57)

Statement from the CEO

After a winter and spring with intensive development work, we recently got the results from our effect studies performed in collaboration with Pelvipharm in France. The studies show that the effect of LIB-01 lasts for at least seven days. This is a major breakthrough for Dicot.

DICOT'S AMBITION is to develop a leading drug to treat erectile dysfunction. This means that our future product needs to display unique features which are better than the treatments available today, where long-term effect perhaps is the foremost.

PROFESSOR JARL WIKBERG that founded Dicot in 2016 showed in his early animal studies that LIB-01 has longer effect than treatments on the market today, up to 14 days. This would eliminate the planning of sexual activities as compared to existing treatments having a relatively short-term effect.

IN ORDER TO GET APPROVAL TO START CLINICAL TRIALS data from the early academic research needs to be complemented with data from well-established and validated animal models. During the spring, we have therefore continued to work with Pelvipharm and can now report truly gratifying results. The effect of LIB-01 lasts for at least seven days and increases up until day seven. This is a major breakthrough for Dicot in the development of a new drug with a long duration of action. Professor Francois Giuliano, who is co-founder of Pelvipharm and an international authority in the field, deems that the results of these studies clearly indicate that LIB-01 works.

IT'S AN HONOR FOR ME to continue the work of Professor Jarl Wikberg and it is gratifying that the results we now present is consistent with his early academic research. The other ongoing study at Pelvipharm, performed in animals with established erectile dysfunction, will be reported during the autumn. In addition to this, further studies will be started to evaluate more doses as well as  the optimal conditions for long-term effect.. Overall, this contributes to our documentation needed to apply for starting a clinical Phase 1 study which is expected to start during next year.

DICOT NOW REINFORCES THE COMPETENCE within the company and has recruited Elin Trampe as COO and vice President. She starts in her new role 1st of September and will lead the development of the drug candidate together with our present team. Elin has a broad experience and relevant qualifications, most recently from the role as CTO at Oasmia Pharmaceutical in Uppsala. During the previous quarter, the board was also expanded with one member: Dr Per-Göran Gillberg who has extensive experience in Pharmacology and Drug Development.

WITH THE FANTASTIC RESULTS from the collaboration with Pelvipharm and the reinforced team backing us up, I have great faith in the continued work this autumn.