Cessatech

Cessatech A/S announced a capital increase through the issuance of shares to a select group of professional investors, known as a Directed Issue. The capital increase, amounting to DKK 230,268.60, has been registered with the Danish Business Authority. This raises the company's total share capital to DKK 3,715,287.40, with the number of shares increasing to 18,576,437. The new shares, priced at DKK 12.72 each, were issued without preferential rights for existing shareholders and were facilitated by Sedermera Corporate Finance AB. These shares are expected to begin trading shortly and are identical to existing shares, carrying no transfer restrictions or special rights. Cessatech utilized Sedermera Corporate Finance AB and Elmann Advokatpartnerselskab as financial and legal advisors, respectively. The press release includes a disclaimer about jurisdictional restrictions and clarifies that it does not constitute an offer or solicitation for securities. It also contains forward-looking statements subject to risks and uncertainties.

Cessatech A/S announced a decision by its board to increase the company's share capital by issuing 1,163,123 new shares, raising approximately DKK 14.8 million before transaction costs. The shares were priced at DKK 12.72 each, determined via an accelerated bookbuilding process managed by Sedermera Corporate Finance AB. The capital raise aims to strengthen Cessatech's financial position ahead of the U.S. commercial launch of their product CT001, following positive developments in their regulatory and development milestones. The board opted for a directed share issue, citing it as more efficient and less costly than a rights issue, despite the deviation from shareholders' preferential rights. This decision will result in a 6.3% dilution for existing shareholders not participating in the issue. The new shares will be identical to existing shares and are expected to be registered and traded shortly after June 5, 2025. The press release includes a disclaimer about the non-distribution of information in certain jurisdictions and clarifies that it does not constitute an offer or solicitation to buy securities. It also contains forward-looking statements about the company's future activities and financial outlook.

Cessatech A/S has announced plans to conduct a directed share issue to raise a minimum of DKK 10 million from institutional and professional investors. This move aims to strengthen the company's financial position in preparation for the U.S. launch of their product, CT001. The subscription process will be facilitated through an accelerated bookbuilding procedure led by Sedermera Corporate Finance AB. The company has recently achieved significant development milestones, including a positive MDR assessment for CT001 and the completion of key studies under the EMA approved PIP program. Cessatech is finalizing preparations for the CT001 EMA submission and the U.S. manufacturing setup, with the product launch anticipated in 2025. The directed issue will not offer preferential rights to existing shareholders, and the details of the share pricing and allocation will be announced soon. The company has also engaged legal and financial advisors to assist with this process. This announcement is subject to regulatory requirements, and the information is intended for qualified investors under EU regulations.

Cessatech A/S has announced positive top-line results from its Paediatric Study 0202, which is part of the development program for CT001, an intranasal, needle-free analgesic for acute paediatric pain. The study showed a rapid and meaningful reduction in pain scores, confirming the safety and tolerability of CT001. This marks a significant milestone towards regulatory submission in Europe, with plans to initiate the EMA submission process later this year. The study involved 152 children with moderate to severe pain and demonstrated a quick onset of pain relief, with 55% of patients reporting reduced pain at 15 minutes and 89% at 30 minutes. No unexpected adverse effects were noted, and the treatment was well-received by children, parents, and physicians. CT001 is being developed in line with a paediatric investigation plan endorsed by the EMA. Proveca, a UK-based company, holds exclusive rights to market CT001 outside North America. The study's chief investigator and Cessatech's executives highlighted the treatment's efficacy and potential to provide meaningful pain relief for children.

Cessatech A/S has released its financial results for the first quarter of 2025, covering the period from January 1 to March 31. Key figures include a net revenue of KDKK 1,243, an operating result of KDKK -5,610, and a net result of KDKK -4,296. The company had KDKK 6,598 in cash at the end of the period, with earnings per share at KDKK -0.25 and a solidity of 39%. CEO Jes Trygved highlighted the positive assessment of CT001 MDR, which will be part of an EMA submission planned for later this year. Efforts continue on manufacturing and launch preparations for CT001 in the US market. Progress has been made with the Paediatric Safety Study 0202, which has concluded, with data analysis ongoing and top-line results expected in May.

Cessatech A/S has announced the completion of patient recruitment for its final study, Paediatric Study 0202, in the development of the nasal spray CT001, designed to treat acute and procedural pain in children. This study, involving 150 children, is the last required clinical trial to evaluate the safety and efficacy of CT001, with results expected soon. The company plans to begin the EMA submission process later this year. CT001's development aligns with an EMA-endorsed paediatric investigation plan. CEO Jes Trygved expressed satisfaction with reaching this milestone, acknowledging the challenges in recruiting participants and the positive tolerance observed in the study. The clinical program for CT001 is now complete, moving the company closer to making the treatment available to hospitals by 2026.

The general meeting elected Mikkel Rostock-Jensen as chairman, who confirmed the meeting's legality and noted strong support for all agenda proposals. The meeting reviewed the company's activities for 2024 and unanimously adopted the audited annual report. It resolved to carry forward a loss of tDKK 19,053 to the next financial year. Martin Olin, Charlotte Videbæk, Flemming Steen Jensen, and Rachel Curtis Gravesen were re-elected to the board, with Martin Olin as chairman. PricewaterhouseCoopers was re-elected as auditor. No proposals from the board or shareholders were presented, and the meeting concluded.

Cessatech A/S has scheduled its annual general meeting for March 28, 2025, at its Hellerup address. The agenda includes the election of a meeting chairman, a report on company activities, the adoption of the 2024 annual report, a resolution on handling financial losses, board and auditor elections, and proposals from the board and shareholders. Mikkel Rostock-Jensen is proposed as chairman, and the board suggests re-electing PricewaterhouseCoopers as auditor. Shareholders can vote by proxy or mail, with submissions due by March 27, 2025. Documents related to the meeting are available on the company's website. Shareholders must register by March 21, 2025, to vote and can request admission cards via email. They can also participate online, with the option to ask questions during the meeting.

Under 2024 rapporterade Cessatech ett nettointäktsbelopp på KDKK 2.486 och ett rörelseresultat på KDKK -19.053. Nettoresultatet var KDKK -14.670. Vid periodens slut uppgick banktillgångarna till KDKK 12.373. Resultat per aktie var KDKK -0,85 och soliditeten var 52%. Årsredovisningen kommer att presenteras för godkännande vid årsstämman den 28 mars 2025, där styrelsen och VD har föreslagit att ingen utdelning betalas ut för räkenskapsåret 2024. Under året genomfördes en framgångsrik TO2-teckningsoption med 94,7% utnyttjande, vilket gav cirka DKK 17,1 miljoner i bruttoproveny. En pediatrisk studie (0202) initierades och visade lovande resultat för smärtlindring med CT001. Låneavtalet med investerare ökades till DKK 10 miljoner och förlängdes till april 2026. Vid årets slut hade patientrekryteringen i studien nått halvvägs, med 75 patienter inkluderade.

Cessatech A/S announced that it received a positive opinion from a Notified Body under the EU Medical Devices Regulation for its product CT001. The technical documentation for CT001 was deemed adequate to meet safety and performance requirements. This opinion is part of the EMA approval process and indicates that the product meets EU standards for safety and efficacy. Cessatech's CSO, Martin Juhl, expressed pride in the team's efforts and highlighted the innovative use of the Interactive Online Review Process. CEO Jes Trygved noted that this achievement brings the company closer to getting CT001 approved in Europe for children aged 1-17, in collaboration with commercial partner Proveca. The MDR process has seen over 3,000 certificates and opinions completed since 2021, despite a significant backlog.