AcuCort AB

Hello and a warm welcome to Investor Update, today with Accocort's annual report, which will be presented by CEO Jonas Jönmark. Hi Jonas. Nice to be here, nice to be able to talk about Accocort. Yes, we look forward to that. And as always when we broadcast live, you can interact with the company management, and that makes it easier by writing your questions in the chat field. We will handle those questions at the end of the presentation, but it might be good to get them in as early as possible so we can present them before the broadcast is over. And with that, Jonas, I'll hand it over to you. The stage is yours.

Thank you very much. I thought we would talk about the company during 2024, and we will take a deep dive into the last quarter of 2024. But we will also talk about what's coming up. commercialization, the potential of the product and so on. But let's first look at what Accocort does. We have a very smart product called Secmellit, which improves the lives of people with severe allergies. The product is a very smart mouth film. If we look at the fourth quarter of 2024, there has been no turnover during the period as expected. The result after the tax went up to about minus 7.5 million. And we have also started with deductions on our immaterial facilities during the period. In general, there are deductions on research and development that you have to do according to good guidance. The result per share went up to minus 0.09 before the closure and the cash retention at the end of the period went up to approximately 2.7 million SEK. Events during and after the fourth quarter. The first thing we have communicated is that all patients in our study, our phase 4 study, have passed the study and the study results have been processed and we have created a plan now for how we are going to publish this in the international scientific journals. We have also been awarded what is known as an extended SME status at the American Medical Agency and that is important for what is to come, the expansion in Europe. SME status means that we get discounts on many of the services at the European Medical Association and that we are actually cost-free in some areas, which is very good for the company. We have also reported that we maintain increased technical acceptance from myself and our chairman in the preliminary submission. And we also reported that we made the pre-examination emission calculated to over 160%. If we look at the whole year, from January to last December, we had a net turnover of SEK 675,000, which was the first order for our partner in the Nordic countries. The results for the tax, as expected, were minus SEK 17.4 million. With deductions. And revenue per share is minus 0.21 SEK. The important thing that we have done here now is that we have built for the future. We have made a very successful pre-emission, a unit emission of about 47-48 million kronor. As I said earlier, we have scored 160%. And it is very important to have this in the cash register here now, because now it is expansion in Accocort. And the capital will be used for the approval process in the USA. and our approved processes in the rest of the EU. We are working very hard here now to get out to the big European countries such as Germany, France, the UK and even Poland. We have very long discussions with companies for these markets, so it looks good. The money will also be used for partner and license discussions, legal consultations and negotiations and so on. Especially in the USA, the due diligence process is quite costly. And then there is personnel, administration and marketing. We will invest a lot of money to improve our IR, communication with the stock market and so on. Our strategy for global communication has been launched in the Nordic countries. The Nordic countries are our home market, but that is not the largest market. The largest market in Europe is Germany. After that comes France, the UK, Poland, Italy and Spain, which are important countries. We have long-term discussions for these markets. We can expect more approval on the European market, but also on selected countries in the rest of the world. We are looking at countries such as Australia, China, India, South America and South Africa. And what we are discussing are large pharmaceutical companies, specialized pharmaceutical companies and what we are discussing is distributor agreements and license agreements. Another important piece of the puzzle is that we have the production in place. We have secured volume production. We have the opportunity to scale up this production to adapt step by step to the future, so that we get contracts in place. Let's look into the future. What can happen in the future? There are further trade agreements in leading European countries. I said earlier that we have long-term discussions in countries such as Germany, Poland, France and the UK. Market approval in the US is yet another milestone that we are looking forward to passing. What will happen here now, we have submitted our IPSP that will be approved by the American Medical Association and they will answer us at the end of March if there are no delays on their side. After that, we will send in what is called a final IPSP. After that, we can submit our application to the US. We expect to be able to submit the application to the US sometime in the second half of the year. We are also looking forward to further orders from our partners in the Nordic market. We are looking forward to the start of sales in Denmark. Continued expansion in the USA. When we have submitted our applications in the USA, we will be able to take the next step in our discussions with the companies that we have dialogues with in the USA. We also have opportunities for expansion in selected countries in the rest of the world. Vi har precis avslutat vår studie och fått studierapporten som ser mycket bra ut. Vi ser fram emot att kunna se vetenskapliga publikationer i viktiga vetenskapliga tidskrifter. I want to say something about the market potential for this product. It is huge. If we look at the entire market as a pyramid, then we have in the base of the pyramid, here we have the patients where the primary treatment is antihistamine. And those patients go to their pharmacy and can pick this up without a receipt. Then we have the big part in this pyramid, and that is those with a moderately severe allergy where antihistamine is not enough. They are the ones who need a product such as our product Sekmelit, a steroid, in order to overcome the difficult allergic attacks. Then you have the small top of the pyramid, which is what is called anaphylaxis. The primary treatment principle there is adrenaline, EpiPen, you've probably heard of it. It's not directly our customers, but they are a large part of the pyramid, which corresponds to about 25 to 30 million diagnoses a year, new diagnoses a year in the EU and USA. The market size in terms of money for the EU and the USA is somewhere around 3 billion USD per year. So that's a big part of this cake. If we look at the world, I mentioned here that we have sales that take place in the three largest Nordic countries, Sweden, Finland and Norway. We look forward to starting sales in Denmark during the spring. The domestic market is important, but the volume actually exists outside of the Nordic countries. And these are countries such as Germany, France, Great Britain, but also Poland, Italy and Spain. And I don't know if I said that, we have long-standing discussions with very interesting companies for these markets. Other countries that are interesting for us, where we have ongoing dialogues, is above all the United States. It is the world's largest individual pharmaceutical market. But we also have interesting dialogues in countries such as China, India and Australia. I can also mention some countries in South America, South Africa and so on. So there is no doubt that it is expansion that counts for Accocort. There is no one who has avoided seeing that it is starting to appear here now in the newspapers, in Sweden at least, that the pollen season is around the corner. If we look at the Nordic market, then our commercial partners are out and inform the doctors about the product. What is needed now is that the patients when the pollen season comes to the doctor and gets his new medicine. And there is a lot of work behind that. I am a self-pollen allergist. I don't usually look forward to the season, but it will be interesting to see what happens now during the spring. A few words about our product, Secmellit. The product is a quick, smooth treatment. It is a mouth film that is used in severe acute allergic reactions. 25 to 30 million people are diagnosed annually with this diagnosis. If you look at Europe and the United States together. We should not forget India and China and such when we start talking about real, real volumes. Market share, 3 billion US dollars. There is a clear medical patient need for this type of product. And we have shown this both through interviews with patients and doctors, but also in our studies. Available treatment today with tablets that are to be dissolved in water and so on. They are very complicated and difficult for the patient to administer when you have a severe allergy. In one of our studies, 70% of patients preferred a mouthpiece over their old tablets, which is a very strong indicator of the need for our product. If you turn to ask the doctors, 9 out of 10 doctors are willing to prescribe our product as long as the patient comes to the clinic, which is also very strong. We have a lot of exciting things going on. It will be an intensive spring with many news. So please follow us both on LinkedIn and on YouTube or go to our website akkokort.com. So, that's what I was going to tell you about the company. Back to you, Carl.

Yes, Jonas. Interesting, exciting. And we can start by noting that you had an emission that you managed to fill in today's climate, which I'm a little impressed with. Overfilled, you could say. Why do you think the emission was overwritten?