Active Biotech AB Year-end report January - December 2016
(Thomson Reuters ONE) -
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 Active Biotech AB
Tel: +46 (0) 46 19 20 95 (Corp. Reg. No. 556223-9227)
Box 724, SE-220 07 Lund
Hans Kolam, CFO Tel: +46 (0)46-19 20 00
Tel: +46 (0)46 19 20 44
The report is also available at www.activebiotech.com.
Active Biotech AB Year-end report January ? December 2016:
http://hugin.info/1002/R/2079033/782626.pdf
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
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