Idogen AB Interim report January-March 2018

Interim report, 1 January-31 March 2018

FIRST QUARTER (JANUARY-MARCH 2018) 

  • Other operating income amounted to KSEK 0 (0)
  • Operating loss totalled KSEK -7,108 (-3,275)
  • Loss for the period totalled KSEK -6,841 (-3,277)
  • Cash flow from operating activities was KSEK 4,794 (-2,733)
  • Loss per share before dilution was SEK -0.33 (-0.27). Loss per share after dilution was SEK -0.18 (-0.27).


 
SIGNIFICANT EVENTS IN THE FIRST QUARTER 

  • In January, the EU paid the first portion of the Horizon 2020 research funding, an amount of MEUR 1.2. Additional funding of MEUR 1.7 will be paid out over the next 30 months.
  • Idogen’s research unit was relocated from the Lund Biomedical Centre to Medicon Village in Lund.


 
SIGNIFICANT EVENTS AFTER THE END OF THE PERIOD 

  • In April, Idogen announced that the company had postponed the planned start of the IDO 8 project (the Phase I/IIa clinical trial) until early 2020 and initiated an expanded optimisation process. Accordingly, the planned start of the first clinical trial in the IDO T project has been postponed to earliest in the end of 2020.

 

CONDENSED EARNINGS AND CASH FLOW 

(Amounts in KSEK unless otherwise   stated)  2018  2017  2017 
3 months  3 months  12 months 
Jan-Mar  Jan-Mar  Jan-Dec 
Net sales 0                0                 0 
Operating expenses -7,108  -3,275 -21,299 
Operating loss -7,108  -3,275 -21,299 
Loss for the period after net financial items -6,841  -3,277 -21,322 
Average number of shares 20,778,472  12,222,589 16,207,516 
Average number of warrants 17,111,766  0 7,969,864 
Loss per share before dilution (SEK) -0.33  -0.27 -1.32 
Loss per share after dilution (SEK) -0.18  -0.27 -0.88 
Cash flow from operating activities 4,794  -2,733 -19,906 
KEY   FIGURES 
Working capital
25,400  12,708 33,894 
Acid-test ratio (%) 264  566 895 
Equity/assets ratio (%) 68  84 90 
Loss per share before dilution -0.33  -0.27 -1.32 
Average number of shares 20,778,472  12,222,589 16,207,516 




For additional information, please contact:
Lars Hedbys, CEO Idogen AB
Tel: +46 (0)46-275 63 30
E-mail: lars.hedbys@idogen.com

This is an English version of an original Swedish press release communicated by Idogen AB. In case of interpretation issues or possible differences between the different versions, the Swedish version shall apply. This constitutes information that Idogen AB is required to publish under the EU’s Market Abuse Regulation. The information was submitted for publication through the above contact person on the 24th of April 2018.

Idogen (AktieTorget: IDOGEN) develops tolerogenic cell therapies to prevent the patient’s immune system from attacking biological agents, transplanted organs or the body’s own cells or tissue. Idogen’s most advanced product candidate IDO 8 is designed for patients with severe haemophilia A who have developed anti-drug antibodies against their critical treatment with coagulation factor VIII (factor VIII). The company´s second project IDO T is developed to prevent kidney transplant rejection. The treatment is based on the patient's own cells and is expected to have a favorable safety profile and long-lasting effect. The fact that a short treatment has the potential to yield a long-lasting effect is another great advantage. For more information, visit www.idogen.com 

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About Us

Idogen develops tolerogenic cell therapies, which re-program the immune system. The company's technology has the potential to develop long-acting treatment of anti-drug antibodies as well as autoimmune diseases that currently can not be cured. In addition, Idogen has the potential to change the transplantation market by reducing the need for immunosuppressive therapy after transplantation. Idogen was founded in 2008 based on a fundamental immunological discovery at Lund University.

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