Idogen AB Interim report January-March 2018
Interim report, 1 January-31 March 2018
FIRST QUARTER (JANUARY-MARCH 2018)
- Other operating income amounted to KSEK 0 (0)
- Operating loss totalled KSEK -7,108 (-3,275)
- Loss for the period totalled KSEK -6,841 (-3,277)
- Cash flow from operating activities was KSEK 4,794 (-2,733)
- Loss per share before dilution was SEK -0.33 (-0.27). Loss per share after dilution was SEK -0.18 (-0.27).
SIGNIFICANT EVENTS IN THE FIRST QUARTER
- In January, the EU paid 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 30 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 April, Idogen announced that the company had postponed the planned start of the IDO 8 project (the Phase I/IIa clinical trial) until early 2020 and initiated an expanded optimisation process. Accordingly, the planned start of the first clinical trial in the IDO T project has been postponed to earliest in the end of 2020.
CONDENSED EARNINGS AND CASH FLOW
| (Amounts in KSEK unless otherwise stated) | 2018 | 2017 | 2017 |
| 3 months | 3 months | 12 months | |
| Jan-Mar | Jan-Mar | Jan-Dec | |
| Net sales | 0 | 0 | 0 |
| Operating expenses | -7,108 | -3,275 | -21,299 |
| Operating loss | -7,108 | -3,275 | -21,299 |
| Loss for the period after net financial items | -6,841 | -3,277 | -21,322 |
| Average number of shares | 20,778,472 | 12,222,589 | 16,207,516 |
| Average number of warrants | 17,111,766 | 0 | 7,969,864 |
| Loss per share before dilution (SEK) | -0.33 | -0.27 | -1.32 |
| Loss per share after dilution (SEK) | -0.18 | -0.27 | -0.88 |
| Cash flow from operating activities | 4,794 | -2,733 | -19,906 |
| KEY FIGURES Working capital |
25,400 | 12,708 | 33,894 |
| Acid-test ratio (%) | 264 | 566 | 895 |
| Equity/assets ratio (%) | 68 | 84 | 90 |
| Loss per share before dilution | -0.33 | -0.27 | -1.32 |
| Average number of shares | 20,778,472 | 12,222,589 | 16,207,516 |
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 the 24th of April 2018.
Idogen (AktieTorget: 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
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