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Active Biotech (0GQU)

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Thursday 14 February, 2019

Active Biotech

Active Biotech Year-end report January - December 2018

Active Biotech Year-end report January - December 2018

         

Fourth quarter in brief

  • Active Biotech communicated updated information about its financial position
  • New data from the LEGATO-HD study presented at the 2018 HSG conference

Other significant events during the January-December period

  • Patent regarding tasquinimod for the treatment of multiple myeloma (MM) granted in the US
  • The rights issue in April brought the company SEK 47.1 M
  • The company's partner NeoTX presented new preclinical data for ANYARA at the AACR Annual Meeting in Chicago
  • The company announced that the Phase II LEGATO-HD trial evaluating the efficacy and safety of laquinimod in Huntington's disease (HD) did not meet its primary endpoint to slow the progression of the disease. However, the secondary endpoint, reduction of brain atrophy, was met. Laquinimod showed excellent safety in the study
  • The company is initiating a scientific collaboration with the Wistar Institute in Philadelphia on tasquinimod to support the clinical development in multiple myeloma
  • Active Biotech regains global rights to the development and commercialization of laquinimod
  • Data from the LEGATO-HD study of laquinimod in Huntington's disease presented at the EHDN meeting

Events after the end of the period

  • Active Biotech's partner NeoTX enters clinical collaboration with AstraZeneca to evaluate ANYARA in combination with IMFINZI® (durvalumab) in the upcoming Phase Ib/II study
  • On February 1, 2019, Active Biotech received an indicative, non-binding bid for the company's property, amounting to SEK 275 million, from the real estate company Estea AB. The indicative bid is conditional the due diligence process and Estea securing financing. Active Biotech's Board takes a positive view of the bid
  • The US Patent Office (USPTO) approved the patent application regarding tasquinimod for the treatment of acute leukemia in the US

Financial summary

SEK MOct-DecJan-Dec
  2018   2017 2018 2017
         
Net sales 4.8 5.4 20.1 20.2
Operating loss -7.1 -58.4 -29.8 -102.5
Loss after tax -8.9 -60.1 -36.9 -108.8
Earnings per share (SEK) -0.06 -0.49 -0.27 -0.89
Cash and cash equivalents (at close of period)     25.6 25.2

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.


Active Biotech is obligated to make public the information contained in this interim report pursuant to the EU Market Abuse Regulation and the Securities Markets Act. This information was provided to the media, through the agency of the contact person set out above, for publication on February 14, 2019, at 8:30 a.m. CET. 




This announcement is distributed by West Corporation on behalf of West Corporation 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


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