Fully financed Phase III program for Mangoral through the IPO
Ascelia Pharma AB (publ) (ticker: ACE) today announced that its interim report for the period January-March 2019 is now available on the company’s website: https://www.ascelia.com/tag/reports-presentations/
IMPORTANT EVENTS IN THE PERIOD
- IPO of SEK 200 million
- More than 6,000 new shareholders in the IPO – both institutional and private
- Fully financed Phase III program for Mangoral
IMPORTANT EVENTS AFTER THE PERIOD
- Encouraging results from Oncoral’s Phase I combination study with oral capecitabine
- IPO overallotment utilised raising SEK 22 million
- Supportive feedback from EMA on the Phase III program for Mangoral
FINANCIAL SUMMARY Q3 2018/2019 (JAN-MAR 2019)
- Operating result of SEK -11.7M (SEK -4.4M)
- Earnings per share of SEK -0.68 (SEK -0.39)
- Cash flow from operations of SEK -3.0M (SEK -2.9M)
- Cash and cash equivalents of SEK 219.1M (SEK 3.8M)
“The third quarter of the fiscal year was a transformative period for Ascelia Pharma. Not only did we continue the development of our innovative and proprietary products to help patients with selected types of cancer, we also made a successful and substantially oversubscribed listing on Nasdaq Stockholm. The IPO secured full financing for the upcoming Phase III study of our lead candidate Mangoral. The IPO also added about 6,000 new shareholders, both institutional and private investors.”, said Magnus Corfitzen, CEO at Ascelia Pharma.
A presentation for analysts, media and investors will be held today at 10:00 CET. The event will be hosted by the company’s CEO Magnus Corfitzen, CFO Kristian Borbos and CMO Carl Bjartmar. The presentation will be held in English. The presentation can be followed live via the link:
It will also be possible to take part of the audiocast afterwards at the same address or at Ascelia Pharma’s website: https://www.ascelia.com/tag/reports-presentations/
To participate in the telephone conference, please use the dial-in details shown below:
SWE: +46 8 505 583 66
UK: +44 333 300 9273
US: +1 833 526 8380
For more information, please contact
Magnus Corfitzen, CEO
Tel: +46 735 179 110
Mikael Widell, IR & Communications Manager
Tel: +46 703 11 99 60
The information was submitted for publication, through the agency of the contact person set out above, at 8.00 am CET on 15 May 2019.
About Ascelia Pharma
Ascelia Pharma is an oncology-dedicated orphan drug development company located in Malmö, Sweden. The company’s strategy is to develop drugs, which target unmet medical needs, have an established mode of action and a relatively low development risk. Ascelia Pharma has two drug candidates – Mangoral® and Oncoral – currently under development.
Mangoral is a novel contrast agent for MR-scans and is ready for Phase III clinical studies. Mangoral is developed to improve the visualization of focal liver lesions (liver metastases) in patient with impaired kidneys that cannot tolerate current gadolinium contrast agents on the market. Oncoral is an oral chemotherapy tablet ready for Phase II for the treatment of gastric cancer. Ascelia Pharma is listed on Nasdaq Stockholm (ticker: ACE). For more information, please visit www.ascelia.com.