Active Biotech AB Interim report January – September 2016

Nov 11, 2016 19:00 (CET)

Laquinimod

  • The clinical trials CONCERTO, ARPEGGIO and LEGATO-HD are progressing according to plan
  • The study results from the pivotal clinical Phase 3 CONCERTO trial in relapsing remitting multiple sclerosis (RRMS) are expected in the first half of 2017
  • The study results from the pivotal clinical Phase 2 ARPEGGIO study, evaluating laquinimod for the treatment of primary progressive multiple sclerosis (PPMS), are expected in the second half of 2017
  • Preclinical results concerning laquinimod were presented at the ECTRIMS 2016 Congress held in London, UK, on September 14-17, 2016
  • Special Protocol Assessment (SPA) for laquinimod rescinded after discussions with the FDA

ANYARA

  • Licensing agreement entered into with NeoTX Therapeutics Ltd

Tasquinimod, Paquinimod (57-57) and SILC (ISI)

  • Out-licensing activities are continuing

New share issue

  • The Board of Directors has today decided, based on the authorization granted by the Annual General Meeting, to implement a rights issue totaling approximately SEK 55 M
  • The issue is at no cost guaranteed in full by the company’s largest owner MGA Holding AB

Financial summary

SEK M   July – Sept   Jan – Sept Full Year
2016 2015 2016 2015 2015
Net sales 4.1 5.2 12.0 11.3 16.3
Operating loss -11.1 -22.2 -41.6 -149.7 -177.9
Loss for the period -12.4 -23.4 -44.8 -152.7 -193.5
Loss per share, before and after dilution (SEK) -0.14 -0.26 -0.50 -1.70 -2.15
Cash and cash equivalents (at the end of the period) 39.9 132.4 103.6
  • Operating costs reduced by 67 % (SEK 107.4 M) compared with 2015
  • Operations are progressing according to plan pending the Phase 3 results for laquinimod in the first half of 2017

For further information, please contact:

  Tomas Leanderson, President and CEO
  Tel: +46 46 19 20 95

 

  Hans Kolam, CFO
  Tel: +46 46 19 20 44

 Active Biotech AB
(Corp. Reg. No. 556223-9227)
Box 724, SE-220 07 Lund
Tel: +46 46 19 20 00
Fax: +46 46 19 11 05

The report is also available at www.activebiotech.com.

Active Biotech AB Interim Report Jan-Sept 2016

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Source: Active Biotech via Globenewswire