Quarterly Report Q2-2020: First participant in the hepatic study
Ascelia Pharma AB (publ) (ticker: ACE) today published its quarterly financial report for Q2-2020 (April – June 2020), which is now available on the company’s website: https://www.ascelia.com/tag/reports-presentations/
SIGNIFICANT EVENTS IN Q2-2020
- First participant enrolled in the clinical hepatic impairment study with Mangoral
- Directed share issue to partly fund preparations for Mangoral market launch
- Patent for Oncoral approved in Japan
SIGNIFICANT EVENTS AFTER THE PERIOD
- Proceeds from directed share issue received in the beginning of July
FINANCIAL SUMMARY Q2-2020
- Operating result of SEK -28.6M (SEK -14.5M)
- Earnings per share of SEK -1.31 (SEK -0.62)
- Cash flow from operations of SEK -20.7M (SEK -14.4M)
- Cash and marketable securities of SEK 144.9M (SEK 225.0M)
“Our operational activities during the second quarter continued with intensity and progress, despite the challenges caused by the global Covid-19 pandemic. In addition to enrolling the first participant in our clinical study with Mangoral in volunteers with different degrees of hepatic impairment, we completed successfully a directed share issue of SEK 99 million. The funds are important to finance the market launch preparations for Mangoral“, said Magnus Corfitzen, CEO at Ascelia Pharma.
A presentation for analysts, media and investors will be held on 20 August at 10:00am CET. The event will be hosted by the company’s CEO Magnus Corfitzen, CFO Kristian Borbos, CMO Carl Bjartmar and CCO Julie Waras Brogren. The presentation will be held in English. The presentation can be followed live via the link: https://tv.streamfabriken.com/ascelia-pharma-q2-2020
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:
SE: +46 850 583 57
UK: +44 333 3009 031
US: +1 833 8230 590
For more information, please contact
Magnus Corfitzen, CEO
Tel: +46 735 179 118
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 20 August 2020.
About Ascelia Pharma
Ascelia Pharma is a biotech company focused on orphan oncology treatments. We develop and commercialize novel drugs that address unmet medical needs and have a clear development and market pathway. The company has two drug candidates – Mangoral and Oncoral – in clinical development. Ascelia Pharma has global headquarters in Malmö, Sweden, and is listed on Nasdaq Stockholm (ticker: ACE). For more information, please visit www.ascelia.com
Mangoral (manganese chloride tetrahydrate) is a novel oral contrast agent for MR-imaging developed to improve the detection and visualization of focal liver lesions (including liver metastases and primary tumors) in patients with reduced kidney function. These patients are at risk of serious side effects from the currently available class of gadolinium-based contrast agents. Mangoral, which has been granted an Orphan Drug Designation by the US Food and Drug Administration (FDA), is currently in Phase 3 development, including the global multi-center SPARKLE study.
Oncoral is a novel oral irinotecan chemotherapy tablet for the treatment of gastric cancer. Oncoral has the potential to offer a more patient friendly cancer drug regimen including a better safety profile following daily tablet dosing at home compared to intravenous high-dose infusions at the hospital. Following successful Phase 1 results, the Phase 2 for Oncoral is in preparation.