FURTHER STUDIES MAY BE REQUIRED FOR MOB-015
Moberg Derma AB (OMX: MOB) has analysed data from approximately fifty per cent of the patients in the ongoing open phase II study for MOB-015. Based on the analysis, the company assesses that there is low probability that the final results from the study will be sufficient for out-licensing the project. Further studies will probably be required before continuing to phase III. The ongoing phase II study will be completed and results are expected by the end of the year.
“In parallel with the completion of the study, we will get additional data and can identify possible product improvements. The project will be delayed but our financial goals remain – to attain positive operating income and positive operating cash flow from and including 2013 and in the long-term to attain an operating margin of at least 25% with continued strong growth” said Peter Wolpert, CEO of Moberg Derma.
About MOB-015 and nail fungus
MOB-015 is a new topical treatment for nail fungus (onychomycosis) with fungicidal, keratolytic and emollient properties. Moberg Dermas patent-pending formulation technology facilitates high concentrations of a fungicidal substance to be transported in and through nail tissue. In pre-clinical studies on human nails, more than tenfold concentrations of the antifungal substance have been detected, compared to the concentrations measured in the nail with successful oral treatment. As MOB-015 is applied locally, the side effects associated with oral treatment are avoided.
Nail fungus is the most common nail disease and afflicts approximately 10% of the general population and increasing with age. The estimated global market potential exceeds USD 1 billion. The untapped potential is significant since many patients remain untreated. It is generally recognized that there is a need for new efficacious and safe topical treatments.
About this information
Moberg Derma discloses the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 08:00 am (CET) on February 9th, 2012.
About Moberg Derma
Moberg Derma AB (publ), based in Stockholm, develops patented topical pharmaceuticals for the treatment of common disorders through the use of innovative drug delivery. The company’s products are based on proven compounds, which reduce time to market, development costs and risk. Moberg Derma’s first product Nalox™/Emtrix® - for nail disorders - became the Nordic market leader directly after launch in autumn 2010 and international launch is ongoing. The portfolio includes approved and launched products to projects in the preclinical and clinical phase. The company began operations at the Karolinska Institute in Stockholm in 2006. The share of Moberg Derma is quoted on the Small Cap list of the NASDAQ OMX Nordic Exchange Stockholm. For further information, please visit: www.mobergderma.se
For further information, please contact:
Peter Wolpert, President and CEO of Moberg Derma
Telephone: +46 8 522 307 00
Mobile: +46 70- 735 71 35
Magnus Persson, IR
Mobile: +46 73-355 26 01