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ODI Pharma AB: Publication of the interim report for Q1 2020

11/27/2020 | 09:24am EST

ODI Pharma AB ("ODI" or the "Company") hereby publishes its interim report for the period July - September 2020. The report is available as an attached document to this press release and on the Company's website (www.odipharma.com). Below is a summary of the report.

CEO Derek Simmross comments

"Like everyone else, we had hoped to start our new fiscal year without the Covid-19 pandemic, but unfortunately it seems like it will continue to affect people, societies and economies across the globe. During this quarter, we have continued to invest a lot of time and effort on internal business improvements, business development and how we can move forward with our extensive market research."

First quarter (2020-07-01 - 2020-09-30)

The Group's net sales amounted to SEK 0 (144,212).

The Group's loss after financial items amounted to SEK -1,268,107 (-648,728).

Result per share amounted to SEK -0.08 (-0.05). *

The solidity as of 2020-09-30 was 97 % (78 %). **

* The Company's result per share: The result for the period divided by the number of shares at the end of the period. The total number of shares as of 30[th] of September 2020, amounted to 15,220,000 (12,500,000) shares. The result per share based on the average number of shares (15,220,000) amounts to SEK -0.08 for the first three months 2020-07-01 - 2020-09-30. 

** Solidity: Equity divided by total capital.

Highlights during Q1

· August - ODI Pharma published its year-end report for the fiscal year 2019/2020. The year-end report is available on the Company's website (www.odipharma.com).

Highlights after Q1

· November - ODI Pharma announced that, despite Covid-19 delays, it has streamlined its supply chain and executed a Supply Agreement with Aphria Inc.'s wholly-owned German subsidiary, CC Pharma GmbH.

· November - ODI Pharma announced that the Company is investigating the possibility to expand current business with specialized, highly CBD infused skin care products ("Project Skin"). 

· November - The Company published its Annual Report for the fiscal year 2019/2020.

For more information on ODI Pharma, please contact:

Derek Simmross, CEO, ODI Pharma AB

E-mail: info@odipharma.com

ODI Pharma AB

ODI Pharma, based on its European network, subsidiaries and affiliates, is a producer and representative of finished pharmaceutical cannabis products with a focus on distribution to the medical cannabis market in Europe through its subsidiary ODI Pharma Polska Sp. z o.o. ODI Pharma intends to provide a high-quality product at a competitive price compared to competitors in Poland, thereby becoming the number one provider of medical cannabis in Poland. ODI Pharma also strives to be on the forefront of understanding the medical applications of the product as well as introducing new, innovative products to the European patients in need. ODI will continue to team up with the most knowledgeable and best renown partners in the industry to achieve its goals.

https://news.cision.com/odi-pharma/r/odi-pharma-ab--publication-of-the-interim-report-for-q1-2020,c3245310

https://mb.cision.com/Main/19043/3245310/1341153.pdf

(c) 2020 Cision. All rights reserved., source Press Releases - English

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