Correction: Idogen AB Interim report January–September 2019
The press release was published with an incorrect date in the so-called MAR label. The information in the report below is the same but with the correct date in the MAR label.
”With new strong patents being prepared, a solid scientific foundation and an organisation that has demonstrated high levels of competence, flexibility and efficiency, Idogen is now ready to take its tolerogenic cell therapies to clinical trials.” Anders Karlsson, CEO
THIRD QUATER (JULY – SEPTEMBER 2019)
- Other operating income amounted to KSEK 973 (0).
- Operating loss amounted to KSEK -6,753 (-7,268).
- Loss for the period amounted to KSEK -6,622 (-7,318).
- Cash flow from operating activities was KSEK -8,624 (-6,860).
- Loss per share before dilution was SEK -0.14 (-0.35). Loss per share after dilution was SEK -0.14 (-0.35).
PERIOD (JANUARY – SEPTEMBER 2019)
- Other operating income amounted to KSEK 2,967 (0).
- Operating loss amounted to KSEK -24,822 (-23,065).
- Loss for the period amounted to KSEK -24,487 (-22,828).
- Cash flow from operating activities was KSEK -27,809 (-13,189).
- Loss per share before dilution was SEK -0.50 (-1.10). Loss per share after dilution was SEK -0.50 (-1.10).
SIGNIFICANT EVENTS IN THE THIRD QUARTER
- Anders Karlsson was appointed as the company’s new CEO as of August 20, 2019.
- Patent application work proceeds according to plan.
SIGNIFICANT EVENTS DURING THE PERIOD
- At the end of June, Idogen announced that CEO Lars Hedbys had resigned following five years as CEO of the company.
- The change of CEO will postpone the transfer to Nasdaq First North, as there is a requirement that the company’s CEO must have been employed for at least three months.
- In June, Idogen announced that the company had successfully developed a new patentable tolerance-inducing method to replace zebularine in the development of the company’s tolerogenic cell therapy. The company has therefore written down the value of patents related to zebularine in an amount of MSEK 4.6.
- In April, Idogen announced that NextCell Pharma AB had contacted the company’s Board of Directors regarding a possible merger. In May, Idogen reported that discussions between the companies had been abandoned.
- In January, Idogen announced that it is extending and broadening its preclinical development programme for tolerogenic cell therapy. This means the clinical trials for IDO 8 and IDO T may be delayed by six months and start in the second half of 2020 for IDO 8 and first half of 2021 for IDO T.
- Arctic Securities was chosen as Corporate Advisor (CA) ahead of the listing on First North.
SIGNIFICANT EVENTS AFTER THE END OF THE PERIOD
- No other significant events occurred after the end of the period that affected the results or financial position.
CONDENSED EARNINGS AND CASH FLOW
| 2019 | 2018 | 2019 | 2018 | 2018 | |
| 3 months | 3 months | 9 months | 9 months | 12 months | |
| (Amounts in KSEK unless otherwise stated) | July-Sept | July-Sept | Jan-Sept | Jan-Sept | Jan-Dec |
| Net sales | 973 | 0 | 2 967 | 0 | 3 766 |
| Operating expenses | -7 726 | -7 268 | -27 789 | -23 065 | -31 627 |
| Operating loss | - 6 753 | -7 268 | -24 822 | -23 065 | -27 861 |
| Loss for the period after net financial items | -6 622 | -7 318 | - 24 487 | -22 828 | -27 634 |
| Avarage number of shares | 48 491 533 | 20 781 790 | 48 491 533 | 20 779 833 | 21 843 166 |
| Avarage number of warrants | 0 | 8 555 883 | 2 820 621 | 12 880 835 | 11 790 710 |
| Loss per share before dilution (SEK) | -0,14 | -0,35 | -0,50 | -1,10 | -1,27 |
| Loss per share after dilution (SEK) | -0,14 | -0,35 | -0,50 | -1,10 | -1,27 |
| Cash flow from operating activities | -8 624 | -6 860 | -27 185 | -9 961 | -10 394 |
| KEY FIGURES | |||||
| Working capital | 21 760 | 8 532 | 21 760 | 8 532 | 42 306 |
| Acid-test ratio (%) | 290 | 151 | 290 | 151 | 305 |
| Equity/assets ratio (%) | 69 | 51 | 69 | 51 | 71 |
| Loss per share before dilution | -0,14 | -0,35 | -0,50 | -1,10 | -1,27 |
| Avarage number of shares | 48 491 533 | 20 781 790 | 48 491 533 | 20 779 833 | 21 843 166 |
IF YOU HAVE ANY QUESTIONS, PLEASE CONTACT:
Anders Karlsson, Chief Executive Officer
Phone: +46 (0) 709 18 00 10
Email: anders.karlsson@idogen.com
This information is such that Idogen AB is obligated to publish under the EU Market Abuse Regulation (MAR) and the Swedish Securities Market Act. The information was submitted for publication, through the agency of the contact person set out above, on October 22, 2019.
Idogen (Spotlight Stock Market: IDOGEN) develops tolerogenic cell therapies to prevent the patient’s immune system from attacking biological agents, transplanted organs or the body’s own cells or tissue. Idogen’s most advanced product candidate IDO 8 is designed for patients with severe haemophilia A who have developed anti-drug antibodies against their critical treatment with coagulation factor VIII (factor VIII). The company´s second project IDO T is developed to prevent kidney transplant rejection. In a third project, IDO AID, Idogen focuses on the treatment of autoimmune diseases. The treatment is based on the patient's own cells and is expected to have a favorable safety profile and long-lasting effect. The fact that a short treatment has the potential to yield a long-lasting effect is another great advantage. For more information, visit www.idogen.com
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