ODI Pharma AB: Publication of interim report Q1 2022/2023
ODI Pharma AB (“ODI” or the “Company”) hereby publishes its interim report concerning the period July 2022 to September 2022. 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.
First quarter (2022-07-01 – 2022-09-30)
The Group's net sales amounted to SEK 28,006 (0).
The Group's loss after financial items amounted to SEK -1,598,205 (-1,175,388).
Result per share amounted to SEK -0.11 (-0.08).*
The solidity as of 2022-09-30 was 90% (94%).**
* 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 30th of September 2022, amounted to 15 220 000 (15 220 000) shares. The result per share based on the average number of shares of 15,220,000 (15,220,000) amounts to SEK -0.11 (-0.08) for the first three months 2022-07-01 to 2022-09-30.
** Solidity: Equity divided by total capital.
Highlights during Q1
· No significant highlights during the period.
Highlights after the end of the period
· No significant highlights after the end of the period.
CEO Derek Simmross comments
It has been a developing quarter for ODI Pharma, and we are making progress everyday by strengthening our presence on the European market for medicinal cannabis and CBD-infused cosmetics products.
Our specialized CBD-infused skincare product line, launched under the brand kandol., has now been on the market for almost a year. Despite the short time, we are collaborating with top retailers in Central Europe, skin clinics, pharmaceutical distribution platforms and over 80 online partners. We are of course very happy with the market’s interest, and it also confirms our belief that the presence of cannabinoids in cosmetics are growing and will continue to do so.
Besides kandol., we are making progress with the medical side of our business and more specifically Project Poland. The last couple of months, we have prepared ourselves for the requirements of our operations, as we will enter the market in the not-too-distant future. The Polish market for medical cannabis has a great potential, and we are sure that ODI Pharma will play an important role for patients suffering from MS, Epilepsy, and other illnesses.
We are continuously monitoring the acceptance of medicinal cannabis throughout Europe, and we see great potential in several interesting markets. In the near future, we continue to expand our brand kandol., improve our social media presence, and continue our path towards the market launch of the medical side of our business. ODI Pharma is certainly in an exciting phase that will make great impact for the business and on the market for medicinal cannabis and CBD-infused cosmetics.
Last but not least, I would like to thank our shareholders for being a part of ODI Pharma’s journey – we are grateful for your support. ODI Pharma is well positioned to become a European pharmaceutical leader in the field of providing high quality cannabis products backed by science and innovation. Let’s continue our progress!
For more information on ODI Pharma, please contact:
Derek Simmross, CEO, ODI Pharma AB
ODI Pharma AB
ODI Pharma, based on its European network, subsidiaries and affiliates, is a producer and representative of finished pharmaceutical cannabis and cosmetics 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. The Company will continue to team up with the most knowledgeable and best renown partners in the industry to achieve its goals.