INTERIM REPORT JANUARY–SEPTEMBER 2011
The January–September period and the third quarter 2011 in brief
- Net sales amounted to MSEK 0.0 (0.0)
- Net loss was MSEK 176.0 (113.4), whereof the third quarter MSEK 51.1 (34.4)
- Loss per share was SEK 0.45 (0.48), whereof the third quarter SEK 0.13 (0.14)
- Cash flow from operating activities was MSEK -160.4 (-114.6), whereof the third quarter MSEK -47.7 (-33.7).The difference from the previous period concerns costs related to the phase III program for eprotirome
- Cash and cash equivalents and other short-term investments totalled MSEK 198.4 (116.2) at the end of the period
- Discussions are ongoing regarding the out licensing of ERbeta and RORgamma
- The phase III eprotirome trial AKKA started in September
Significant events after the end of the reporting period
Spin-off of preclinical operations
- The Board of Directors is preparing a spin-off of the preclinical part of the company by transferring these operations to a subsidiary
- The company has initiated an efficiency program to reduce costs as part of the spin-off
Management changes
- Per Bengtsson was appointed CEO
- Henrik Palm was appointed new CFO
Conference call today at 10.00 CET
CEO Per Bengtsson will present the report today at 10.00 CET in an audiocast, held in Swedish, available via a link on www.karobio.se and telephone: +46 8 5051 59809 or +44 20 710 863 03
| For more information, please contact: Per Bengtsson, Chief Executive Officer Telephone:+46 8 608 6027 or +46 734 474 128 E-mail: per.bengtsson@karobio.se |
Karo Bio AB (publ) Novum, 141 57 Huddinge, Sweden Telephone: +46 8 608 60 00 Facsimile: +46 8 774 82 61 Corp. reg. no. 556309-3359 Website: www.karobio.com |
The information in this report is such that Karo Bio is required to disclose under the Swedish Securities Market Act. The information was disclosed on October 25, 2011, 08:30 CET.
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