Interim Report Fourth Quarter and Annual Financial Statement Release 2022

STENOCARE A/S NASDAQ FIRST NORTH GROWTH MARKET, DENMARK TICKER: STENO STENOCARE A/S (“STENOCARE”) today announces its results for the period 01.01.2022 – 31.12.2022. The report, which has not been reviewed by the Company’s auditors, is attached to this release and is also available on

Thomas Skovlund Schnegelsberg, CEO of STENOCARE, comments:

“Q4 2022 marked long awaited milestones that will help us grow sales and expand our market-leadership. We added new licensed products in Denmark and Norway and realized net sales of 2.8 mDKK during the quarter. With this, we are now ready to accelerate more broadly in our existing and selected new markets.”

3 months
3 months
12 months
12 months
Net sales2,84604,4901,890
Operating profit before depreciation (EBITDA)-2,354-4,668-13,215-13,242
Net financial items-686-75-1,360-181
Investment in tangible fixed assets1264259363,270
Result per share (DKK)-0.29-0.42-1.40-1.09
Solidity (%)61926192

Result per share: The result for the period divided by the average number of shares. Total number of shares as of December 31, 2022, amounted to 11,676,126 (11,676,126). Average number of shares for the fourth quarter 2022 was 11,676,126 (11,676,126).

Solidity: Equity divided by total capital.

Highlights during the period

October 2022 - The Company announces that it has received approval from The Danish Medicines Agency to sell a new CBD medical cannabis oil product to Danish patients. With this, STENOCARE once again becomes the only supplier of both CBD and THC medical cannabis oil products under the Danish Pilot Programme.

October 2022 - The Company convenes an Extraordinary General Meeting. The key objective of the Extraordinary General Meeting is to give the board of directors the option to issue convertible loans to finance additional sales activities and other operational costs towards break-even.

October 2022 - The Company announces that it enters its 5th market. Stenocare has a distribution agreement with the leading distributor and pharmacy chain in Norway, Apotek1, to secure nationwide distribution from day one. The three new oil-based products will be the first of their kind in Norway and will be available as prescription-based medicine via all Norwegian pharmacies.

November 2022 – The Company announces that it confirms its sales guidance and to additional financing, which is expected to cover the company’s funding needs until the anticipated break-even by end of 2023.

Highlights after the period:

January 2023 – The Company announces that the new STENOCARE CBD medical cannabis oil product is available in Denmark. The first shipment has arrived, and sales of the product can begin.

January 2023 – The Company announces that the first shipment to Norway at the end of December 2022 was successfully completed to Apotek 1, a leading chain of pharmacies and the products are now ready for nationwide sales and delivery to patients through prescription.

January 2023 – The Company announces that it delivered products to its 5 markets during Q4 2022 corresponding to net sales of 2.8 mDKK and is on track for its sales expectations for 2023 in the range of 15-20 mDKK