DanCann Pharma A/S Publishes Q3-2024 Report: Steady Growth in Medicinal Cannabis Prescriptions Signals Promising Future for Patients

COPENHAGEN, Denmark, 22 November 2024 – DanCann Pharma A/S (SS: DANCAN) (“DanCann Pharma” or the “Company”), a Danish company powered by cannabinoids, hereby announce that the Company has published its report for the third quarter (Q3) of 2024. The Q3-2024 report is available as an attached document to this press release and at www.dancann.com.

SUMMARY: GROUP KEY FIGURES Q3-2024

DKK 1,000	01/07/24 – 30/09/24	01/07/23 – 30/09/23	01/01/24 – 30/09/24	01/01/23 – 30/09/23	01/01/23 – 31/12/23
Net sales	1,855	1,625	6,413	4,462	6,074
EBITDA *	-901	-2,963	-3,077	-9,221	-12,887
EBIT **	-1,420	-3,522	-4,603	-10,903	-59,287
Result per share (DKK)	-0.0002	-0.0242	-0.0004	-0.1101	-0.4396
Equity ratio	0.85	0.86	0.85	0.86	0.53

 

* Earnings before interest, taxes, depreciation, and amortization

** Earnings before interest and taxes

Number of shares on 30.09.2024 = 1,541,096,350 (92,043,356)

Result per share = Result for the period / weighted average number of shares

Equity ratio = Equity / total assets

 

Financial highlights from the first 9 months (January to September) of the year (2024):

• Revenue – up by 43.6% YoY (from 4.46 MDKK to 6.41 MDKK)
• Sales – up by 63.4% YoY (from 8,237 units to 13,457 units)
• EBITDA – up by 66.6% YoY (from -9.22 MDKK to -3.08 MDKK)

 

CEO, Jeppe Krog Rasmussen, highlights:

“The future of medicinal cannabis in Denmark – from pilot to permanent:

It is with great excitement that I share a pivotal moment for the medicinal cannabis industry in Denmark. The Danish government has announced its intention to make the Pilot Programme for prescription-based medicinal cannabis a permanent initiative. This is a testament to the progress we have all been working towards and a significant step forward for the patients who rely on these treatments.

This proposal, presented by the Minister of the Interior and Health, Sophie Løhde, is grounded in a thorough evaluation that highlights a remarkable increase in the number of prescriptions filled. Since the programme’s inception in 2018, the uptake has steadily grown, with approximately 20,000 prescriptions issued over the past three years – a clear indication of the growing recognition of medicinal cannabis as a valuable treatment option.

The Pilot Programme was initially designed to offer a lifeline to patients with conditions such as multiple sclerosis or cancer, providing them with a legal framework to access medicinal cannabis as part of their care. Today, the numbers speak volumes, with around 1,800 patients currently benefiting from these treatments.

As Minister Løhde stated, “We see that many patients prescribed medicinal cannabis by their doctors appear to benefit from the treatment. This includes cancer patients suffering severe nausea after chemotherapy and individuals with multiple sclerosis experiencing intense pain.” The government’s commitment to making this programme permanent reflects its dedication to ensuring continued access to these therapies for those who need them most.”

 

For more information, visit: https://www.dancann.com/investor-relations.

 

 

About DanCann Pharma A/S

DanCann Pharma A/S (SS: DANCAN) was founded in 2018 and is a Danish biopharmaceutical Company powered by cannabinoids.

DanCann Pharma A/S (SS: DANCAN) is listed on the Spotlight Stock Market in Copenhagen/Stockholm.

For more information, visit: www.dancann.com

 

For further information, please contact:

Jeppe Krog Rasmussen, CEO

E-mail: jkr@dancann.com

 

Forward-looking-statement:

Some statements in this release may contain forward-looking information. All statements, other than of historical fact, that address activities, events, or developments that the Company believes, expects, or anticipates will or may occur in the future (including, without limitation, statements regarding potential acquisitions and financings) are forward-looking statements. Forward-looking statements are generally identifiable by use of the words “may”, “will”, “should”, “continue”, “expect”, “anticipate”, “estimate”, “believe”, “intend”, “plan” or “project” or the negative of these words or other variations on these words or comparable terminology.

Forward-looking statements are subject to several risks and uncertainties, many of which are beyond the Company’s ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, without limitation, the inability of the Company, to obtain sufficient financing to execute the Company’s business plan; competition; regulation and anticipated and unanticipated costs and delays, the success of the Company’s research strategies, the applicability of the discoveries made therein, the successful and timely completion and uncertainties related to the regulatory process, the timing and outcomes of regulatory or intellectual property decisions and other risks disclosed in the Company’s public disclosure record on file with the relevant securities regulatory authorities.

Although the Company has attempted to identify important factors that could cause actual results or events to differ materially from those described in forward-looking statements, there may be other factors that cause results or events not to be as anticipated, estimated or intended. Readers should not place undue reliance on forward-looking statements. The forward-looking statements included in this presentation are made as of the date of this presentation and the Company does not undertake an obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise unless required by applicable securities legislation.

This disclosure contains information that DanCann Pharma A/S is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 22-11-2024.