RhoVac AB comments on minor errors in the annual report
RhoVac AB ("RhoVac") today announced that a translation difference has been reported incorrectly in the company's annual report. However, the error is not considered to be of essential character.
As noted in Note 22 of the RhoVac Annual Report for the financial year 2016, a correction of errors has been made of previously reported figures. The error relates in its entirety to deferred tax and the error on the opening balance of the comparative year (January 1, 2015) amounted to SEK 262 thousand. The comparison year 2015 and the current year 2016 have also been adjusted based on the identified error. This has resulted in a translation difference of SEK 14,801 for 2016 which by mistake is reported in the consolidated statement of changes in equity for 2016 on page 26; however, this should have been minus SEK 14,801. The consolidated balance sheet on page 25 specifies the correct amount based on the corrections made.
In the Group's statement of changes in equity for 2016 on page 26, a printing error has also been identified. Opening balance for total equity has not been updated with the above corrections. The closing balance for total shareholders' equity, however, is correct except for the above-mentioned error regarding the translation difference 2016. The consolidated balance sheet on page 25 specifies the correct amount based on the corrections made.
For more information, please contact:
Anders Ljungqvist – VD, RhoVac AB
Phone: +45 4083 2365
E-mail: alj@rhovac.com
About RhoVac AB
RhoVac AB conducts research and development of immunotherapeutic drugs. The company's main focus is the development of a therapeutic cancer vaccine with the potential to prevent or limit metastasis in cancer. RhoVac's first drug candidate has completed pre-clinical phase and clinical phase I / II study has started spring 2017. RhoVac has its head office at Medicon Village in Lund, Sweden. The research has been conducted since 2007 primarily at the University Hospital in Herlev, Denmark, by a world-class research team in its niche. RhoVac is listed on AktieTorget, Sweden, a Multilateral Trading Facility (MTF), since March 2016 and has approximately 1,700 shareholders. The share is traded under the ticker RHOVAC. Read more at www.rhovac.com