NeuroVive: Interim Report 1 Jan. 2015 to 30 Sep. 2015

Focus forward on R&D

Third Quarter (1 July 2015 – 30 Sept. 2015)

  • Net revenues were SEK 0 (7,152,000) and other operating income was SEK 74,000 (2,000).
  • Loss before tax was SEK 53,948,000 (3,761,000). (For further information see page 6.)
  • Impaired value for the CIRCUS-study was SEK 28,135,000 (0)
  • Earnings per share* were SEK -1.75 (-0.18).
  • Diluted earnings per share** were SEK -1.75 (-0.18).

Nine Months (1 Jan. 2015 – 30 Sept. 2015)

  • Net revenues were SEK 2,502,000 (7,152,000) and other operating income was SEK 499,000 (1,173,000).
  • Loss before tax was SEK 83,435,000 (-27,328,000). (For further information see page 6.)
  • Impaired value for the CIRCUS-study was SEK28,135,000 (0)
  •  Earnings per share* were SEK -2.78 (-1,07).
  • Diluted earnings per share** were SEK -2.78 (-1,07).

* 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 2015

  • NeuroVive refocused CicloMulsion development and discontinued acute myocardial infarction indication. This decision follows the data from the investigator-initiated Phase III CIRCUS study of CicloMulsion® in patients with a specific type of heart attack known as ST-segment elevation myocardial infarction (STEMI) showed that CicloMulsion® had no therapeutic effect on AMI patients undergoing PCI (percutaneous coronary intervention).
     
  • NeuroVive announced the departure of CEO, Mikael Brönnegård, and Jan Nilsson, COO, will head up the company in the role of interim CEO in the period until a new CEO is appointed by the Board of Directors. The recruitment process to find a successor has begun.

Events post balance sheet

  • NeuroVive aims to find path forward in antiviral development following discontinuation of OCB-030 preclinical program by Arbutus, formerly OnCore Biopharma, who have decided to discontinue development of OCB-030 (NVP018) so the company can focus its resources on other agents that directly target HBV. NeuroVive believes that the compound still has future potential based on the independent evidence that supports its application in this area.

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 18, 2015.

NeuroVive Pharmaceutical AB (publ), the mitochondrial medicine 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, under the ticker symbol NEVPF

Tags:

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 consists of several late stage research programs in areas ranging from genetic mitochondrial disorders to cancer and metabolic diseases such as NASH. The company’s strategy is to advance drugs for rare diseases through clinical development and into the market. The strategy for projects within larger indications outside the core focus area is out-licensing in the preclinical phase. NeuroVive is listed on Nasdaq Stockholm, Sweden (ticker: NVP). The share is also traded on the OTCQX Best Market in the US (OTC: NEVPF).