Follicum AB announced that the company has decided to temporarily suspend the phase II study of the drug candidate FOL-005 recently initiated in Germany. This is due to government recommendations in Germany in light of the ongoing outbreak of COVID-19. The company intends to resume the recruitment of patients for the study as soon as the situation in Germany improves. Follicum's Phase II study of FOL-005 was initiated on March 9, 2020 and the recruitment of patients has so far progressed well. The study is being conducted at the Clinical Research Center for Hair and Skin Science in Berlin and at proDERM in Hamburg and is planned to comprise a total of approximately 200 men with hair loss. The patients themselves will apply a cream with three different strengths of FOL-005 or placebo for four months. The original plan was to present the study results at the end of 2020. The company will continue its close dialogue with the clinical sites and follow recommendations from the German Authorities and take appropriate measures to minimize any delay that may be caused by the study break.