HUDDINGE, Sweden, Oct. 15, 2003 (PRIMEZONE) -- Karo Bio (Other OTC:KARBF):
-- Merck & Co., Inc. has decided to discontinue the development of one compound in the collaboration. A second candidate compound continues in preclinical development.
-- Karo Bio and Bristol-Myers Squibb have published data in support for the obesity project in the scientific journal P.N.A.S. (Proceedings of the National Academy of Sciences of the United States of America).
-- A new project aiming at development of selective thyroid hormone agonists for treatment of dyslipidemia (STADs) has been launched.
-- Net sales amounted to MSEK 10.5 (76.8).
-- Cash flows from operating activities amounted to MSEK -38.2 (8.3).
-- The loss for the period, including goodwill amortization, decreased to MSEK 34.3 (37.4). Operating result excluding goodwill amortization amounted to MSEK -35.2 (21.2).
-- Cash and cash equivalents and short-term investments amounted to MSEK 234.6 (235.2) at the end of the period.
-- Loss per share for the period amounted to SEK 2.03 (2.92).
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