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Vaccine company issues shares to counteract growing deficit

Danish Expres2ion Biotechnologies issues shares for up to SEK 17.6 million (USD 1.89 million) after years of decreasing income and a million-dollar deficit. "The realm is in want of money and it puts pressure on our share price - now we take action," says the CEO.

Steen Klysner, CEO, Expres2ion Biotechnologies | Foto: Expres2ion

Danish company Expres2ion Biotechnologies earns less and spends more money, and the company's million-dollar deficit is growing and growing. This is the broad outline of the company's annual report 2018.

Last year, the revenue decreased to SEK 8.87 million (approximately USD 952,000) relative to SEK 9.8 million in 2017. Although the company still generates millions, the deficit is growing - as has been the case during the past years.

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