Fourth quarter in brief
- The primary clinical endpoint was not met in the Phase II study (ARPEGGIO) with laquinimod in PPMS
- Patent regarding tasquinimod for the treatment of acute leukemia granted in Europe
- The process to divest the company's property in Lund is ongoing
- On December 7, the company announced that funding for the next 12 month period was not guaranteed. See further below "Events after the end of the period" relating to a new share issue
Other significant events during the January-December period
- Patent regarding tasquinimod for the treatment of multiple myeloma (MM) granted in Europe
- FDA granted orphan drug status for tasquinimod for the treatment of MM.
- The primary clinical endpoint in the Phase III study of laquinimod in RRMS (CONCERTO) was not met. The secondary endpoints were met in line with previous studies
- Helén Tuvesson was appointed CEO of Active Biotech
- The first product patent in the SILC project was granted in the US
- The decision was taken to discontinue the company's laboratory animal facility in Lund
- The Phase II study of laquinimod in Huntington's disease (LEGATO-HD) is ongoing. Results are expected in the second half of 2018
- The ANYARA project is proceeding, with planned start of clinical studies in the second half of 2018
- Out-licensing activities are continuing for the tasquinimod, SILC and paquinimod projects
Events after the end of the period
- The Board of Directors proposes a new share issue of approximately MSEK 48, with pre-emptive rights for the shareholders. An extraordinary general meeting to be held on March 19, 2018
- In connection with the new share issue, the company has received a permanent waiver from its commitment to the bank that finances the company's property in Lund that the company's liquidity should never fall below MSEK 30
- The company again has funding for the coming 12 month period
- Patent application regarding tasquinimod for the treatment of MM allowed in the US
- Application for the second product patent in the SILC project allowed in the US
Financial summary
| SEK M | Oct.-Dec. | Jan.-Dec. | |||
| 2017 | 2016 | 2017 | 2016 | ||
| Net sales | 5.4 | 7.1 | 20.2 | 19.0 | |
| Operating loss | *-58.4 | -13.5 | *-102.5 | -55.1 | |
| Loss after tax | *-60.1 | -14.8 | *-108.8 | -59.6 | |
| Earnings per share (SEK) | -0.62 | -0.16 | -1.12 | -0.65 | |
| Cash and cash equivalents (at close of period) | 25.2 | 77.7 | |||
*of which write down of property SEK 50 M
For further information, please contact:
| Helén Tuvesson, CEO Tel: +46 (0)46-19 21 56 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.
