INTERIM REPORT CHRONTECH PHARMA JANUARY-SEPTEMBER 2010
- Research and development costs amounted to SEK 6.2 (4.5) m
- The loss after tax was SEK -9.6 (-8.7) m
- Earnings per share were SEK -0.13 (-0.22)
- The company had no net sales for the period
- The patients from the completed ChronVac-C® study are enrolled on treatment according to standard of care, i.e. interferon in combination with ribavirin. As previously reported, of those who started standard of care therapy, >70% have responded to the treatment with <50 virus copies/mL blood already after 4 weeks (so called rapid viral response). This is an unusually rapid reduction of virus in the blood of patients with HCV genotype 1, indicating a role for ChronVac-C® in combination therapy
- Industrial development of IVIN, the new injection needle for DNA vaccination, has started through the consulting firm Team Consulting.
- As was made public earlier the multi-center study conducted in Sweden and Norway on ChronSeal® for the treatment of chronic leg wounds is completed. Kringle Pharma, Inc. in Japan has given ChronTech Pharma a six months’ extension, i.e. until the 31st of December 2010, of its option to buy back in ownership of the ChronSeal®
Events after the end of the reporting period
- Six out of seven (85%) of the patients from the ChronVac-C® phase I/IIa study who have started standard of care therapy were negative for HCV RNA in blood already at treatment week 24. This further supports a role for ChronVac-C® in combination therapy.
- The Board of Directors has decided to prolong the time for subscription for shares in the ongoing rights issue with three weeks until the 19th of November 2010.
For more information, please contact:
Anders Vahlne, CEO and Head of Research, ChronTech Pharma AB
Tel: +46 8 5858 1313, mobile phone: +46 709 28 05 28,
ChronTech develops the therapeutic DNA vaccines ChronVac-C® and ChronVac-B drugs against chronic hepatitis C virus and hepatitis B virus infections, i.e. chronic infections with jaundice causing viruses which can lead to liver cirrhosis and liver cancer. ChronTech has also developed and further develops a patent pending new type of injection needle for a more effective uptake of DNA vaccines. ChronTech also have part ownership in the wound healing therapy ChronSeal®, and in the new platform technology RAS®. The ChronTech share is admitted to trade on First North. Remium AB is Certified Adviser for ChronTech. For more information, please visit: www.chrontech.se
In the event of any discrepancy between the Swedish and English versions of this press release, the Swedish version will take precedence.