Active Biotech provides updated information about the company’s financial position
Active Biotech has received a waiver (exemption) from its commitment to the bank that finances the company’s property in Lund that the company’s liquidity should never fall below SEK 30 million.
This exemption applies until and including February 27, 2018, during which time the company must produce a sale of the property at a value that generates a liquidity supplement that meets the requirements for going concern, i.e. liquidity for twelve months of operation.
Unless this or any other solution is found before February 27, 2018, the company will not have funding for the coming twelve-month period.
Lund, December 20, 2017
Active Biotech AB (publ)
President and CEO
For further information, please contact:
Mats Arnhög, Chairman of the Board
Tel. +46 8 545 03 770
Mobile +46 705 91 50 96
Helén Tuvesson, President and CEO
Tel. +46 46 19 21 56
Hans Kolam, CFO
Tel. +46 46 19 20 44
Active Biotech AB (publ) (NASDAQ Stockholm: ACTI) is a biotechnology company with focus on neurodegenerative/inflammatory diseases and cancer. Laquinimod, an orally administered small molecule with unique immunomodulatory properties is in development for neurodegenerative diseases in partnership with Teva Pharmaceutical Industries Ltd. ANYARA, an immunotherapy, in development for cancer indications in partnership with NeoTX Therapeutics Ltd. Furthermore, commercial activities are conducted for the tasquinimod, paquinimod and SILC projects. Please visit www.activebiotech.com for more information.
Active Biotech AB
(Corp. Reg. No. 556223-9227)
Box 724, SE-220 07 Lund, Sweden
Tel: +46 (0)46 19 20 00
This information is information that Active Biotech AB is obliged to make public pursuant to the EU Market Abuse Regulation. This information was submitted for publication, through the agency of the contact person set out above,at 15.00 p.m. CET on December 20, 2017.
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Active Biotech via Globenewswire