Enzymatica AB: The Long-term Plan Remains in Challenging Times

STOCKHOLM, Nov. 2, 2021 /PRNewswire/ --

INTERIM REPORT JANUARY-SEPTEMBER 2021:

Significant events in Q3 

• The Chinese and US patent offices gave advance notice of their intention to grant patents for China and the US, respectively, for the cod enzyme that is one of the key components of ColdZyme.
  
• Claus Egstrand assumed his role as CEO on
  9 September 2021, about three months earlier than planned, after he was able to end prior commitments ahead of time. Therese Filmersson returned to her previous role as CFO and was simultaneously appointed to serve as Deputy CEO.

Significant events after the quarter

• The Extraordinary General Meeting on 18 October resolved to approve an incentive program for CEO Claus Egstrand through an employee option plan, a directed issue of warrants and a transfer of warrants.
  
• On 2 November 2021, the Board of Directors decided on financial targets for the company. Net sales should in 2026 amount to at least 600 million SEK with an EBIT margin of at least 28 %.

Comment from CEO Claus Egstrand: 

"Although the times have been challenging for Enzymatica, we look optimistically into the future. We have a fantastic product, strong and experienced partners, and we are convinced that protection against viruses is of great interest to consumers following the pandemic. As for the overall development in Q3 2021, we saw the incidence of colds and the flu returning toward normal levels, along with promising sales trends in new markets such as Poland and Romania. However, we anticipate a lag of up to 6 months in our sales to partners. There are many positive signs, and we expect that the cold/flu market will continue to recover in Q4/2021 and Q1/2022. It is always hard to know what the future holds, but we are cautiously optimistic that we will see good growth in our sales in 2022, compared with 2021." 

The full interim report is available on www.enzymatica.se/se/investors/financial-reports 

This information is information that Enzymatica is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 08:50 a.m. CET on 2 November 2021.

FOR more information, please Contact:

Claus Egstrand, Chief Executive Officer, Enzymatica AB

Phone: +44 7780 22 8385 | Email: claus.egstrand@enzymatica.com 

Stefan Olsson, Kommunikationschef, Enzymatica AB

Phone: +46 (0) 708 55 11 85 | Email: stefan.olsson@enzymatica.com

ABOUT ENZYMATICA AB

Enzymatica AB is a life science company that develops and sells health products mainly to treat upper respiratory diseases and symptoms. The products are based on a barrier technology that includes marine enzymes that includes marine enzymes with unique properties. The company's first product is the medical device product ColdZyme®, a mouth spray for colds. The product has been launched in about 30 markets on three continents. The strategy is to continue to grow by developing more health products, strengthening the company's position in existing markets and expanding into new geographic markets through established partners. The company is headquartered in Lund and is listed on Nasdaq First North Growth Market. For more information, please visit www.enzymatica.se. Enzymatica's certified adviser is Erik Penser Bank, +46 (0)8 463 83 00, email: certifiedadviser@penser.se

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