NeuroVive Pharmaceutical - Interim report January-June 2016
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
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.
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)
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.