ODI Pharma

During the second quarter of 2024, ODI Pharma reported no net sales, a significant drop from SEK 1,175 in the previous year. The group's loss after financial items was SEK -2,562,520, compared to a profit of SEK 946,531 previously. The result per share was SEK -0.16, down from SEK 0.06. Over the six months from July to December 2024, net sales were SEK -4,965, down from SEK 780,209, and the loss after financial items was SEK -3,953,290, compared to a previous loss of SEK -491,846. The result per share was SEK -0.25, down from SEK -0.03, and solidity was 7%, down from 28%. Key events included a decision by ODI's Board on October 30, 2024, to issue new shares with preferential rights for existing shareholders, subject to approval at an upcoming Extraordinary General Meeting. The rights issue aims to raise approximately SEK 4.1 million, with potential additional funds through oversubscription. Malcolm Allan was proposed as a new board member, and Jan-Mark Edewaard was announced as the new CEO starting January 1, 2025, succeeding Derek Simmross. ODI also provided updates on Poland's medical cannabis market, where it holds a strong position. The rights issue was subscribed to 54.8%, raising around SEK 2.2 million. Derek Simmross did not participate in the rights issue, reducing his shareholding below 25%. After the reporting period, ODI announced the termination of its liquidity provider agreement with Pareto Securities AB, effective March 14, 2025. ODI Pharma focuses on distributing medical cannabis in Europe, particularly in Poland, aiming to be a leading provider by offering competitive, high-quality products.