Idogen AB Interim report January - June 2018

Interim report January 1 – June 30 2018

SECOND QUARTER (APRIL – JUNE 2018) 

•  Other operating income amounted to KSEK 0 (0)
•  Operating loss totalled KSEK -8,689 (-4,659)
•  Loss for the period totalled KSEK -8,669 (-4,662)
•  Cash flow from operating activities was KSEK -7,896 (-1,412)
•  Loss per share before dilution was SEK -0.42 (-0.38). Loss per share after dilution was SEK -0.26 (-0.38)
  
  

PERIOD (JANUARY – JUNE 2018) 

•  Other operating income amounted to KSEK 0 (0)
•  Operating loss totalled KSEK -15,797 (-7,935)
•  Loss for the period totalled KSEK -15,510 (-7,939)
•  Cash flow from operating activities was KSEK -3,102 (-4,146)
•  Loss per share before dilution was SEK -0.75 (-0.65). Loss per share after dilution was SEK -0.41 (-0.65) 
  
  

SIGNIFICANT EVENTS IN SECOND QUARTER 

•  In April, Idogen announced that the company had postponed the planned start of the Phase I/IIa clinical trial of the IDO 8 project until early 2020 and initiated an expanded optimisation process. Accordingly, the planned start of the first clinical trial in the IDO T project was also postponed to the end of 2020 at the earliest.  
•  Idogen strengthened its research organisation in the second quarter by appointing Hanne Risager Romedahl as new Chief Scientific Officer. Hanne took up her new position on 7 May and replaces Anette Sundstedt who remains with the company in the role of scientific expert.  
•  The Annual General Meeting re-elected Agneta Edberg Chairman of the Board, and Leif G Salford, Christina Herder and Karin Hoogendoorn members of the Board.
•  The TO2 redemption period fell during the quarter and resulted in KSEK 20.
  
  

SIGNIFICANT EVENTS DURING THE PERIOD 

•  In January, the EU paid out the first portion of the Horizon 2020 research funding, an amount of MEUR 1.2. Additional funding of MEUR 1.7 will be paid out over the next 24 months.
•  Idogen’s research unit was relocated from the Lund Biomedical Centre to Medicon Village in Lund.
  
  

SIGNIFICANT EVENTS AFTER THE END OF THE PERIOD 

•  In August, the Board decided to extend Idogen's project portfolio to a third area in the field of autoimmune diseases. 
•  No other significant events affecting the company’s earnings or financial position occurred after the end of the period.

CONDENSED EARNINGS AND CASH FLOW 

For additional information, please contact:

Lars Hedbys, CEO Idogen AB

Tel: +46 (0)46-275 63 30

E-mail: lars.hedbys@idogen.com

This is an English version of an original Swedish press release communicated by Idogen AB. In case of interpretation issues or possible differences between the different versions, the Swedish version shall apply. This constitutes information that Idogen AB is required to publish under the EU’s Market Abuse Regulation. The information was submitted for publication through the above contact person on August 21 2018.

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. 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 

Tags: