Asarina Pharma AB (publ) Interim Report Q3 2019 released
Asarina Pharma CEO Peter Nordkild: “During an intense third quarter we achieved some important milestones. We enrolled the last patient in our landmark PMDD study, received FDA approval for our IND in menstrual migraine and included the first patient in our menstrual migraine study. After the end of the quarter a new directed share issue was subscribed to by a small group of distinguished institutional investors, generating net proceeds of SEK 44.5 million.”
FINANCIAL HIGHLIGHTS 1 July – 30 September 2019
- Due to increased R&D activities, operating costs grew to SEK 21.8 million
- Our G&A costs are well below 15 percent of total costs
- We maintained a strong financial position with SEK 95 million in cash at the end-of quarter (before the directed share issue)
DIRECTED SHARE ISSUE
After the end of the quarter, we completed a directed share issue of 2,159,148 shares generating net proceeds of SEK 44.5 million. The proceeds are intended for (i) a Phase IIa proof-of-concept study in Tourette syndrome, to be initiated in second half of 2020, (ii) continued development of new formulations of Sepranolone, and (iii) preparatory work for Phase III studies of Sepranolone in PMDD.
In the third quarter we enrolled the last patient in our Phase IIb study in Premenstrual Dysphoric Disorder, the largest PMDD trial ever in Europe. We are on track for completing the study by end of February 2020, expecting topline results in April 2020.
In August, we included the first patient in our Phase IIa proof-of-concept study in Menstrual Migraine in Finland and Sweden. The study is expected to be completed by the end of 2020. In the quarter the FDA approved our IND in menstrual migraine for Sepranolone with an excellent safety profile.
READ FULL RELEASE HERE.
For further information, please contact:
Peter Nordkild, CEO, Asarina Pharma AB
Phone: +45 25 47 16 46
Jakob Dynnes Hansen, CFO, Asarina Pharma AB
Phone: +45 5132 3698
Erik Penser Bank AB
Phone: +46 8-463 83 00
About Asarina Pharma
We are a Swedish biotech company developing Sepranolone, the world’s first dedicated treatment for premenstrual dysphoric disorder (PMDD) and other menstrual-related conditions. Our product pipeline is built on over 40 years’ research into menstrual-related disorders like PMDD and menstrual migraine. With our new family of GAMSA compounds (GABAA Modulating Steroid Antagonists), we aim to deliver a new generation of efficacious and safe drugs for still widely untreated conditions, thereby becoming a leading Women’s Health company.
The information above was provided by Asarina Pharma AB (publ) through the above contact person, for publication on November 20, 08.00, 2019.