New strategic R&D plan implemented and financed
Fourth quarter in brief
Tasquinimod
- The clinical study in multiple myeloma was presented at an oral poster session at the virtual American Society of Hematology (ASH) 2020 meeting in December
- Patent granted in China in October regarding treatment of multiple myeloma
- Patent granted in Europe in November regarding use of tasquinimod in combination with immunotherapy
Laquinimod
- Development continued according to plan
Naptumomab
- Active Biotech received a milestone payment from NeoTX in December
Corporate
- Board of Directors proposed in November a rights issue to fund ongoing and planned development programs
- A Capital Markets Day was held on November 24
- The clinical strategy and projected development milestones presented to the market in November
Significant events during the January-December period
- Active Biotech announced a new strategic direction for the company in February
- Three new board members with extensive topic expertise were appointed at the Annual General Meeting on May 19
- Preclinical data on tasquinimods effects in experimental models for multiple myeloma were presented at the Virtual Edition of the 25th European Hematology Association (EHA) Annual Congress Meeting in June
- Data on the effects of laquinimod in experimental uveitis published in the Journal of Immunology in May
- First patient dosed in the phase Ib/IIa study of tasquinimod to treat multiple myeloma in August
- A topical ophthalmic formulation of laquinimod to be used to treat inflammatory eye disorders developed in August in collaboration with Leukocare AG
Events after the end of the period
- Rights issue prospectus published on January 5, 2021
- Rights issue oversubscribed by 175% and added 76.2 MSEK to liquidity before issue expenses
- Active Biotech signed an agreement for manufacturing of a topical ophthalmic formulation of laquinimod for clinical use
Financial summary
| SEK M | Oct-Dec | Jan-Dec | |||
| 2020 | 2019 | 2020 | 2019 | ||
| Net sales | 6.2 | 0.9 | 6.7 | 8.4 | |
| Operating profit/loss | -4.1 | -11.2 | -32.3 | -32.3 | |
| Profit/loss after tax | -4.1 | -11.2 | -32.2 | -34,1 | |
| Earnings per share (SEK) | -0,03 | -0,08 | -0,22 | -0.24 | |
| Cash and cash equivalents (at close of period) | 26.2 | 59.7 | |||
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 11, 2021, at 8:30 a.m. CET.
Attachment
