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