ODI Pharma AB (“ODI” or the “Company”) hereby publishes its interim report for the period July 2021 – March 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.
Third quarter (2022-01-01 – 2022-03-31)
The Group's net sales amounted to SEK 71,298 (0).
The Group's loss after financial items amounted to SEK -2,344,281 (-41,280).
Result per share amounted to SEK -0.15 (0).*
The solidity as of 2022-03-31 was 95.11 % (99.63 %).**
Nine months (2021-07-01 – 2022-03-31)
The Group's net sales amounted to SEK 529,918 (0).
The Group's loss after financial items amounted to SEK -4,921,171 (-2,081,166).
Result per share amounted to SEK -0.32 (-0.14).*
The solidity as of 2022-03-31 was 95.11 % (99.63 %).**
* 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 31st of March 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 -0.32 (-0.14) for the first nine months 2021-07-01 to 2022-03-31.
** Solidity: Equity divided by total capital.
Highlights during Q3
· No significant highlights during the period.
Highlights after the period
· No significant highlights after the period.
Comments by CEO Derek Simmross
The third quarter of the fiscal year 2021/2022 has passed and ODI Pharma is continuously working hard to achieve a strong position on the European market for medicinal cannabis and CBD-infused cosmetic products. I feel confident that the work completed in the last months has created a stable ground for the upcoming fiscal year 2022/2023.
The launch of our skincare line kandol. has been an important area of our focus during the fiscal year. We have a great product which has been confirmed by consumers and wholesale for us. We have achieved important infrastructure development with physical and online pharmaceutical distributors in Central Europe. We have recently achieved positioning on multiple medical pharmacy online portals in Germany and Switzerland. We believe in our investment in samples for potential clients to try our products before buying and we are pleased by the fact that multiple magazines, such as Vogue, promote our products. We are continuously working on the promotion of the product in order to establish it in the market.
Our current work is educating to create demand, as we kick of the second phase of implementation for online growth. Many obstacles were overcome over the first and early part of the second quarter. Online is an important part for our sales and we seriously evaluate the best possible collaboration with partners and influencers to ensure that we are prepared for further growth online. The reception of our products is extremely positive and motivates us to keep going in the same direction. This foundation is crucial for our objectives and results.
Even though we are making important progress with kandol., Project Poland is of course our main business because of the exciting Polish market with great growth potential. We look forward to becoming the main supplier of medicinal cannabis in the country and provide Polish patients with a high-quality medicine at a competitive price. We have to date supplied data for all requests received with respect to the MAH application and we are optimistically looking for a start in the near future.
Lastly, I want to thank the team behind ODI Pharma for their ongoing efforts to create product awareness and brand development, and our investors for your trust in ODI Pharma’s journey in the medicinal cannabis and cosmetics industry. I am confident that ODI Pharma and kandol. have great potential to succeed on the European market.
Derek Simmross
CEO, ODI Pharma AB
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 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. The Company will continue to team up with the most knowledgeable and best renown partners in the industry to achieve its goals.
