FluoGuide posts significant net loss while advancing cancer trial

FluoGuide A/S, a biotech company based in Denmark, released its interim report for the period from January to September 2024 on November 27, 2024. The report indicated that the company had no revenue during this period, with a recorded net loss of DKK 20,218 thousand, compared to a net loss of DKK 25,990 thousand in the same timeframe the previous year. The report outlined the progress made in clinical trials, especially regarding FG001, which is designed to enhance surgical accuracy in cancer treatments. Specifically, preparations for a phase II clinical trial application for head and neck cancer (known as CT-005) were initiated based on insights from leading medical opinion leaders. Additionally, ongoing plans to address aggressive brain cancer will be detailed further in early 2025. FluoGuide's earlier FG001 trial, published in the journal Theranostics, had promising results, successfully detecting cancer in all patients tested, which underlines the potential effectiveness of the technology. Despite the financial loss, the company remains poised for significant developments in its trial processes and regulatory plans, aiming to improve cancer surgical outcomes and reduce healthcare costs by utilizing its proprietary fluorescent technology. The company emphasizes its commitment to enhancing patient care through innovative treatment options involving FG001, which binds to the uPAR receptor found in various solid tumors and could lower local recurrence rates post-surgery.