NeuroVive Pharmaceutical - Interim report January-June 2016

Business operations

Important events April-June 2016

  • Fully subscribed rights issue amounting to approximately SEK 77.3 million after issue expenses
  • A preclinical TBI program initiated together with PENN
  • NeuroVive’s share upgraded for trading on OTCQX Best Market in the US
  • The clinical Phase II study CiPRICS fully recruited with 150 patients

Events after the end of the period

  •  NeuroVive received a purported notice of termination of licensing agreement from Arbutus Biopharma 
  • NeuroVive’s novel strategy for treatment of mitochondrial disease published in Nature Communications
  • NeuroVive completed 10 percent acquisition of Isomerase Therapeutics

Financial information

Second Quarter (April - June 2016)

  • Net revenues were SEK 0 (2,502,000) and other operating income was SEK 28,000 (377,000)
  • Loss before tax was SEK 12,059,000 (15,216,000)
  • Earnings per share* were SEK -0.34 (-0.54)
  • Diluted earnings per share** were SEK -0.34 (-0.54)

First six months (January - June 2016)

  • Net revenues were SEK 0 (2,502,000) and other operating income was SEK 74,000 (426,000)
  • Loss before tax was SEK 22,487,000 (29,487,000)
  • Earnings per share* were SEK -0.64 (-1.02)
  • Diluted earnings per share** were SEK -0.64 (-1.02)

* 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.

Read the complete Interim report attached below.

About NeuroVive

NeuroVive Pharmaceutical AB (Nasdaq Stockholm: NVP, OTCQX: NEVPF) is a pioneer in mitochondrial medicine and a company committed to the discovery and development of highly targeted candidates that preserve mitochondrial integrity and function in areas of significant therapeutic need. NeuroVive's business approach is driven by value-adding partnerships with mitochondrial research institutions and commercial partners across the globe.

NeuroVive's portfolio consists of two clinical projects, one in acute kidney injury (CicloMulsion®) and one in traumatic brain injury (NeuroSTAT®). The candidate drug NeuroSTAT has orphan drug designation in Europe and in the US for treatment of moderate to severe traumatic brain injury and is currently being evaluated in the CHIC study. CicloMulsion is being evaluated in an on-going study, CiPRICS, in acute kidney injury during major surgery. Furthermore, the R&D portfolio consists of two late stage discovery programs and one compound in preclinical development.

NeuroVive is listed on Nasdaq Stockholm, Sweden, Small Cap, under the ticker symbol NVP. The share is also traded on the OTC Markets Group Inc market in the US. NeuroVive Pharmaceutical (OTC: NEVPF) trades on the OTCQX Best Market.

NeuroVive Pharmaceutical AB (publ)
Medicon Village, SE-223 81 Lund
Tel: +46-46 275 62 20 (switchboard)
ir@neurovive.com
www.neurovive.com 

This information is information that NeuroVive Pharmaceutical AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 08:30 a.m. CET on August 18, 2016.

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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Quotes

One important event during the quarter was the preferential rights issue, generating approximately SEK 77 million, performed to accelerate NeuroVive’s extensive research and development program. Once again, I would like to thank everyone who participated in the rights issue for the trust and confidence they have shown in the company’s plans and operations. As earlier announced, the preferential rights issue was fully subscribed, which gives us the strength to fully carry out the necessary preparations that are vital to develop the project portfolio and advance forward our pre-clinical projects to clinical trials.
Erik Kinnman, CEO NeuroVive Pharmaceutical