CEO COMMENTS: "Strong start for 2022"
When we look back on Q1 2022 it was gratifying to see the hard work of 2021 successfully completed: We had a medical cannabis oil product approved for Denmark, we entered the UK market with three approved products and an important milestone for our next generation products were completed. This strong start for 2022 fuel our optimism for the coming year.
New prescription-based product for Denmark
After a long period of relentless work and ongoing cooperation with the Danish Medicines Agency, STENOCARE is now once again able to benefit from being a first mover and sole supplier of medical cannabis THC oil under the Danish Pilot Programme.
STENOCARE will commence sales in Denmark during Q2 2022, and we look forward to finally be able to supply products for patients' treatment. During 2018 and 2019, STENOCARE became the very first and only to supply three different medical cannabis oil products under the Danish Pilot Programme. The number of patients grew from 300 to around 1,100 after introduction of the oil products. After seven months, we saw the sales of these three products grow to MDKK 4.4 in Q1 2019.
STENOCARE is also working with the Danish Medicines Agency to have further two oil products approved for the Pilot Programme.
Entering the UK market with new products
The UK market has been on our radar for some time, and we found it is a good time to enter this new market. Medical cannabis was legalized in the UK in 2018, but relatively few patients have received treatment under the regulatory health scheme. However, the UK market is projected to become one of the largest markets in Europe over the next five years - according to industry analysts. STENOCARE constantly reviews market opportunities and builds a pipeline of countries to target. The UK is the third largest economy in Europe with its 67 million people. The medical cannabis market has tremendous potential as only approx. 3,000 patients have been receiving treatment so far, while approx. 1.4 million are self-medicating with non-medical cannabis products. This is pointing towards a large growth opportunity for the company, and we expect to commence sales during Q2 2022.
Next generation medical cannabis products
We completed the step-1 feasibility study with positive results. This is an indicator that we are on a path to address some of the most important industry challenges for medical cannabis. Ahead awaits further investments in a pharmacokinetic study and analysis. Even though this type of product development is a longer-term investment, we are optimistic that this will become a valuable premium product that will increase efficacy for patients, and it will be an exclusive and patent protected STENOCARE product based on best practice from the established pharma industry.
With this strong start for 2022, we have delivered on several strategic milestones in STENOCARE 2.0. This further contributes to our strategic assets for STENOCARE (i.e. Regulatory asset, Commercial asset).
Thomas Skovlund Schnegelsberg, CEO
STENOCARE A/S
(Stenocare har en betalt digital IR-aftale med ProInvestor.com)
Læs hele rapporten:
9936d395a4f389a2.pdf
When we look back on Q1 2022 it was gratifying to see the hard work of 2021 successfully completed: We had a medical cannabis oil product approved for Denmark, we entered the UK market with three approved products and an important milestone for our next generation products were completed. This strong start for 2022 fuel our optimism for the coming year.
New prescription-based product for Denmark
After a long period of relentless work and ongoing cooperation with the Danish Medicines Agency, STENOCARE is now once again able to benefit from being a first mover and sole supplier of medical cannabis THC oil under the Danish Pilot Programme.
STENOCARE will commence sales in Denmark during Q2 2022, and we look forward to finally be able to supply products for patients' treatment. During 2018 and 2019, STENOCARE became the very first and only to supply three different medical cannabis oil products under the Danish Pilot Programme. The number of patients grew from 300 to around 1,100 after introduction of the oil products. After seven months, we saw the sales of these three products grow to MDKK 4.4 in Q1 2019.
STENOCARE is also working with the Danish Medicines Agency to have further two oil products approved for the Pilot Programme.
Entering the UK market with new products
The UK market has been on our radar for some time, and we found it is a good time to enter this new market. Medical cannabis was legalized in the UK in 2018, but relatively few patients have received treatment under the regulatory health scheme. However, the UK market is projected to become one of the largest markets in Europe over the next five years - according to industry analysts. STENOCARE constantly reviews market opportunities and builds a pipeline of countries to target. The UK is the third largest economy in Europe with its 67 million people. The medical cannabis market has tremendous potential as only approx. 3,000 patients have been receiving treatment so far, while approx. 1.4 million are self-medicating with non-medical cannabis products. This is pointing towards a large growth opportunity for the company, and we expect to commence sales during Q2 2022.
Next generation medical cannabis products
We completed the step-1 feasibility study with positive results. This is an indicator that we are on a path to address some of the most important industry challenges for medical cannabis. Ahead awaits further investments in a pharmacokinetic study and analysis. Even though this type of product development is a longer-term investment, we are optimistic that this will become a valuable premium product that will increase efficacy for patients, and it will be an exclusive and patent protected STENOCARE product based on best practice from the established pharma industry.
With this strong start for 2022, we have delivered on several strategic milestones in STENOCARE 2.0. This further contributes to our strategic assets for STENOCARE (i.e. Regulatory asset, Commercial asset).
Thomas Skovlund Schnegelsberg, CEO
STENOCARE A/S
(Stenocare har en betalt digital IR-aftale med ProInvestor.com)
Læs hele rapporten:
9936d395a4f389a2.pdf