Active Biotech AB Year-end report January – December 2016

Feb 16, 2017 08:30 (CET) Regulatory

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 clinical Phase 2 ARPEGGIO trial, evaluating laquinimod for the treatment of primary progressive multiple sclerosis (PPMS), are expected in the second half of 2017
  • Orphan Drug Designation granted in the US by the FDA (“US Food and Drug Administration”)  for laquinimod for the treatment of Huntington’s disease

ANYARA

  • A licensing agreement has been entered into with NeoTX Therapeutics Ltd

Tasquinimod, Paquinimod and SILC

  • Out-licensing activities are continuing
  • The European Patent Office has granted a patent application covering tasquinimod for use in the treatment of multiple myeloma
  • Product patent for SILC substances granted by the European Patent Office

New share issue

  • Rights issue implemented in fourth quarter generating proceeds of SEK 53.7 M for the company after issue expenses

Financial summary

SEK M Oct – Dec   Jan – Dec
2016 2015 2016 2015
Net sales 7.1 5.0 19.0 16.3
Operating loss -13.5 -28.2 -55.1 -177.9
Loss for the period -14.8 -40.8 -59.6 -193.5
Loss per share, before and after dilution (SEK) -0.16 -0.45 -0.65 -2.13
Cash and cash equivalents 77.7 103.6
  • Operating costs for full-year 2016 reduced by 62% (SEK 120.1 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 (0) 46 19 20 95

 

  Hans Kolam, CFO
  Tel: +46 (0)46 19 20 44

 Active Biotech AB
(Corp. Reg. No. 556223-9227)
Box 724, SE-220 07 Lund
Tel: +46 (0)46-19 20 00

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

Active Biotech AB Year-end report January – December 2016

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Source: Active Biotech via Globenewswire