Interim Report, Q3 2014

CORTENDO REPORTS RESULTS AND ACTIVITIES FOR THE THIRD QUARTER 2014

HIGHLIGHTS - Q3 2014 AND POST PERIOD

  • COR-003 (levoketoconazole) Phase 3 SONICS trial - continued progress on trial implementation. New targets established for site activation and timing of potential regulatory filings.
  • HealthCap leads $11M (NOK 73.4M) Private Placement, with an expected closing date of early December 2014. Cortendo to pursue U.S. financing and listing strategy.
  • Matthew Pauls named new Chief Executive Officer as of August 25, 2014.
  • Robert Lutz hired as Chief Business Officer.
  • Net loss for the Group was SEK 10.4 million for the third quarter and SEK 30.1 million for the first nine months of the year, compared to SEK 12.9 million and SEK 22.6 million for the same periods in 2013, reflecting increased R&D activities offset by foreign exchange gains and lower G&A costs.
  • Cash and cash equivalents amounted to SEK 67.4 million, compared to SEK 101.0 million at 30 September 2013 and SEK 97.1 million at the end of December 2013.

For the full report see attached pdf-file.

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