2cureX AB ("2cureX") hereby publishes the interim report for the second half year of 2024. The interim report is available as an attached document as well as on the company's website (https://www.2curex.se). A short summary of the report follows below.
CEO Dan Honeywell comments:
"A year of transformation
In 2024, 2cureX underwent a major transformation following challenges with its distributor-led commercial strategy for IndiTreat®, which failed to meet revenue expectations. This led to leadership changes and the suspension of the strategy. In June, an investment consortium led by Kinled Group initiated a strategic restructuring, splitting 2cureX into two independent entities: 2cureX AB (publicly listed) and 2cureX A/S (privately held).
Under this new structure, 2cureX AB will focus on a Direct-to-Patient commercial approach and explore acquisitions, while 2cureX A/S will drive product development, aiming for CE-IVDR certification and expanded cancer indications. This dual-entity model enhances scalability, regulatory compliance, and global commercialization opportunities.
To lead this shift, Daniel Honeywell was appointed as CEO of 2cureX AB, effective December 2024. With expertise in digital health and precision oncology, he aims to accelerate growth, introduce new leadership, and establish an advisory board. The company remains committed to delivering value for both patients and investors.
Financial Overview
The financial position of 2cureX underwent a transformation during 2024, with the new structure and additional investment. At the close of 20243, our cash position stood at MSEK 5.1, and further investment is expected during 2025, to fund the new strategy."
Second half year of 2024 (2024-07-01 until 2024-12-31) - the group
The result before tax was -3 249 KSEK (-1 225 KSEK)
The result per share* was -0.10 SEK (-0.07 SEK)
The solidity** was 66 % (93 %).
The cash and bank were 5 140 KSEK (1 459 KSEK).
For more information about 2cureX:
Dan Honeywell, CEO
E-mail: dh@2curex-ab.com
Telephone: +44 7825 545715
Ole Thastrup, Chairman of the Board
E-mail: ot@2curex.com
Telephone: +45 2211 5399
About 2cureX
2cureX is a leader in cancer drug sensitivity testing and has developed the IndiTreat® (Individual Treatment) family of tests. Starting from a sample of the patient's tumor, IndiTreat® creates thousands of 3D replicas (tumoroids) and predicts the tumor response to the different available drugs, providing the physician with valuable information to make the treatment decisions.
The first three IndiTreat® tests are aimed at optimizing treatment decisions in patients with metastatic colorectal cancer (IndiTreat® Start for first line of therapy, IndiTreat® Extend and Explore for third line). Additional tests are under development to cover other stages of colorectal cancer as well as other gastrointestinal cancers.
According to several reports, the total yearly expenditure in cancer-related In Vitro Diagnostic (IVD) tests exceeds 17.5Bn USD worldwide, from which 2.5 Bn USD are tests directly related to therapy decision making, with a CAGR of 12.7%. Despite this, only one third of all cancer treatments are supported by one of these tests. IndiTreat® aims at filling this gap and making Precision Oncology available to all cancer patients.
The company is listed on Nasdaq First North Growth Market in Stockholm (symbol: "2CUREX"). For more information about 2cureX visit www.2cureX.se
Certified Adviser: Redeye AB
