Qlife: Wrap up from latest event with CEO Thomas Warthoe
Qlife Holding participated in an event Monday February 19th where CEO Thomas Warthoe presented highlights from the annual report and gave an update on the prospect for the collaboration agreement with Chinese based Hipro Biotechnology. Overall, CEO Thomas Warthoe remained confident in the future of Qlife Holding in particular as the progress in the various parts of the agreement with Hipro Biotechnology moved forward according to plan, Thomas Warthoe citing the decision by the two parties to increase the number of assays to bring to the market as well as the allocation of 40 people to the project by Hipro Biotechnology as two examples of the positive future prospects.
Qlife Holding is currently in the process of conducting a rights issue with the subscription period running from February 12th to 26th to raise up to SEK 49,5 million before transaction cost of which 61 percent has been guaranteed. Together with the potential exercising by investors of two warrant programs in June and November 2024, CEO Thomas Warthoe expects the financial situation to be sufficient to finance the company until late 2025 at which point royalties or milestones from sales by Hipro Biotechnology will likely provide Qlife Holding with the necessary cash to cover its costs. Also, CEO Thomas Warthoe hinted an extra partnership deal could be close and that it would probably include financial milestones as well. At the event CEO Thomas Warthoe reiterated expectations that royalties will be at least 20 percent on the Hipro Biotechnology partnership deal, and the CEO made a comparison with current or former peers that also gave the impression that Qlife Holding is very well positioned.
At the event CEO Thomas Warthoe was asked to comment on the huge write down of capitalized developments costs in the annual report as requested by the company’s auditors, and the CEO explained that he didn’t agree with the regulatory technically motivated requirements to do so as the development cost should be considered an investment in the future thereby representing a huge future value for the company.
Watch the interview here: Interview with CEO Thomas Warthoe
Disclaimer: HC Andersen Capital receives payment from Qlife Holding for a Digital IR/Corporate Visibility subscription agreement. /Claus Thestrup 08:10 AM 20-02-2024.
Login required
This content is only available for logged in users
Qlife Holding
Qlife Holding AB is a med-tech group that strives to revolutionize the market for clinical biomarkers and virus tests. By enabling tests at home as a complement to tests in healthcare, access to important health information is facilitated, which can contribute to better treatment and potentially prevent diseases. The first capsules in the company's product, Egoo.Health Platform, were CE-marked for professional use in early 2020. The company has patent protection for key parts of its technology. The Danish-based company is listed on Nasdaq First North Stockholm.
Read more on company page