NeuroVive: Interim Report 1 Jan. 2014 to 30 Sep. 2014

Important outlicensing deal and increased focus on core operations

Third Quarter (1 Jul. 2014 – 30 Sep. 2014)

  • Net revenues were SEK 7,152,000 (0) and other operating income was SEK 2,000 (201,000).
  • Loss before tax was SEK -3,761,000 (-6,751,000).
  • Earnings per share* were SEK -0.18 (-0.33).
  • Diluted earnings per share** were SEK -0.18 (-0.33).

Nine months (1 Jan. 2014 – 30 Sep. 2014)

  • Net revenues were SEK 7,152,000 (5,335,000) and other operating income was SEK 1,173,000 (1,586,000).
  • Loss before tax was SEK -27,328,000 (-12,957,000).
  • Earnings per share* were SEK -1.07 (-0.72).
  • Diluted earnings per share** were SEK -1.07 (-0.72).

* Profit/loss for the period divided by the average number of shares before dilution at the end of the period.
**Profit/loss for the period divided by the average number of shares after dilution at the end of the period.

Business highlights in the third quarter of 2014

NeuroVive signed a global outlicensing agreement with US biotechnology company OnCore Biopharma relating to the development and commercialization of NeuroVive’s drug candidate NVP018 for oral treatment of chronic Hepatitis B Virus (HBV) infection. The licensing agreement provides OnCore with exclusive global rights to develop oral formulations of NVP018 for the treatment of chronic Hepatitis B-infection. The agreement can give NeuroVive $150 million (SEK 1 Bn) in conditional milestone payments plus royalties on future sales.

The payments covered by the licensing agreement are conditional upon the occurrence of uncertain future events. This means that if these events fail to occur, for example because of the insufficient efficacy or safety of the product, payments that are dependent on such events will not be made. For more information about the agreement and associated risks, please refer to the press releases dated 9 and 11 September on NeuroVive’s website.

Read the interim report attached below

NeuroVive Pharmaceutical AB (publ) is obligated to publish the information contained in this press release in accordance with the Swedish Securities Market Act. This information was provided to the media for publication at 8:30 CEST on November 19, 2014.

NeuroVive Pharmaceutical AB (publ) is a leading mitochondrial medicine company. The company is listed on NASDAQ OMX Stockholm, Small Cap, under the ticker symbol NVP. The share is also traded on the OTC market in the US.
NeuroVive Pharmaceutical (OTC: NEVPF) trades on the OTC Grey Market. Investors can find Real-Time quotes and market information for the company at www.otcmarkets.com/stock/NEVPF/quote 

About Us

NeuroVive Pharmaceutical AB is a leader in mitochondrial medicine, with one project in clinical phase II development for the prevention of moderate to severe traumatic brain injury (NeuroSTAT®) and one project in clinical phase I (KL1333) for genetic mitochondrial diseases. The R&D portfolio also consists of projects for genetic mitochondrial disorders, cancer and NASH. The company advances drugs for rare diseases through clinical development into the market. For projects for common indications the goal is out-licensing in the preclinical phase. A subset of compounds under NeuroVive’s NVP015 program has been licenced to Fortify Therapeutics, a BridgeBio company, for local treatment development of Leber’s Hereditary Optic Neuropathy (LHON). NeuroVive is listed on Nasdaq Stockholm, Sweden (ticker: NVP). The share is also traded on the OTCQX Best Market in the US (OTC: NEVPF). www.neurovive.com

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