Interim report July 1 to September 30, 2017

Summary

Period (July 1 to September 30, 2017)

  • Operating revenue KSEK 0 (0)
  • Income after financial items KSEK -1,518 (-1,235)
  • Earnings per share SEK -0,10 (-0,10) Cash and cash equivalents as of September 30 KSEK 25,662 (23,468)
  • Equity ratio as of September 30 95.2% (97.7%)

Period (January 1 to September 30)

  • Operating revenue KSEK 0 (0)
  • Income after financial items KSEK -5,593 (-2,860)
  • Earnings per share SEK -0,36 (-0,22)

Significant events during the third quarter of 2017

  • No significant events.

Comments from CEO Kjell Stenberg

The company continues to work according to its previously communicated development plan. A safety study into T20K is being conducted by LPT Laboratory of Pharmacology and Toxicology GmbH & Co. KG in Germany, and studies into T20K's efficacy on Multiple Sclerosis (MS) symptoms in animal models (EAE) continue with our partners. The results of these safety and efficacy studies will be reported on completion of the trials. Work on manufacturing T20K, developing analysis methods, measuring stability, and quantifying uptake and excretion of T20K in animals continues to follow the company's plans.

Cyxone's development work on T20K has proceeded extremely positively compared to the development of new drugs at similar stages. The considerable interest in 2 warrants (TO 2), which were 98.7 per cent subscribed, gives us a fresh opportunity to firmly pursue T20K for MS treatments by continuing our development work.

As previously communicated, Cyxone is in productive talks with its network of investors ahead of planned Phase 2b trials with Rabeximod.

2 We would like to thank all shareholders for their faith in Cyxone, and we look forward to continued fruitful co-operation.

Keep up to date with our news and information about our attendance at investment meetings via First North and our homepage at: cyxone.com.

Kjell Stenberg
CEO, Cyxone AB

Upcoming financial reports and company general meetings

February 16, 2018 Year-end report

Full report is attached.

Malmö October 25, 2017 

The Board of Directors
Cyxone AB

Contact
Cyxone AB (publ.)
Kjell G. Stenberg, CEO
Tel: +46 (0) 70 716 80 09
Email: kjell.g.stenberg@cyxone.com
Adelgatan 21
211 22 Malmö
cyxone.com

This report contains such information that Cyxone AB is required to make public under the EU's Market Abuse Regulation and Securities Markets Act. This Information was submitted by CEO Kjell Stenberg for publication on October 25, 2017 at 08:50 CET. 

This report contains forward-looking statements that constitute subjective estimates and forecasts about the future. Assessments about the future are only valid on the date they are made and are, by their nature, similar to research and development work in the biotech field, associated with risk and uncertainty. In light of this, actual outcomes may differ substantially from what is described in this press release.

About Us

Cyxone AB is a clinical stage biotech company with a portfolio of immunomodulating drugs for the treatment of autoimmune diseases such as multiple sclerosis (MS) and rheumatoid arthritis (RA). The company’s drug portfolio is based on two technological pillars in the form of oral molecules and cyclotide-based drugs that inhibit key processes in the body’s cells that are typically associated with various immune-related disorders. Cyxone’s technologies have the potential to address an unmet need and provide new effective and safe medicines that can improve the quality of life for patients affected by autoimmune diseases. The company has two drug candidates, T20K for MS in a preclinical program and Rabeximod for RA in clinical phase II-program. Cyxone’s Certified Adviser on the Nasdaq First North is Erik Penser Bank, +46 (0)8 4638000.www.cyxone.com

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