Isofol Medical AB (publ) publishes interim report, January–June 2023
GOTHENBURG, Sweden, August 22, 2023 - Isofol Medical AB (publ), (Nasdaq Stockholm: ISOFOL), announced today that the company's interim report for January–June 2023 is now available on the company's website, www.isofolmedical.com.
The information in the press release is intended for investors.
Second quarter, April–June 2023
- Net revenue amounted to TSEK 0 (4,027) and other revenue to TSEK 0 (0)
- The result for the period amounted to TSEK -7,507 (-54,033)
- Earnings per share amounted to SEK -0.05 (-0.33)
- Cash and cash equivalents at June 30 amounted to TSEK 156,767 (277,727)
First half of the year, January-June 2023
- Net revenue amounted to TSEK 721 (8,033) and other revenue to TSEK 23 (1)
- The result for the period amounted to TSEK -21,902 (-101,907)
- Earnings per share amounted to SEK -0.14 (-0.63)
Significant events during the second quarter 2023
- On April 28, Isofol informed that the company is starting preclinical evaluation of arfolitixorin in a research collaboration with Oncosyne AS in Norway.
- On 7 June, Isofol informed that the board has decided to co-opt Anders Edvell to the board after board member Jan-Eric Österlund leaves the board at his own request.
- On 21 June, Thomas Andersson resigned as CEO at his own request.
- On June 22, the board appointed Roger Tell as acting CEO of the company.
Significant events after the event of the period
- On July 4, the conclusions from the in-depth analysis of the AGENT study were presented. The results from the analysis support the hypothesis that a different dose and administration regimen may have the potential to improve the efficacy of the drug candidate arfolitixorin for colorectal cancer.
CEO´s comment:
”Isofol's in-depth analysis of data from the AGENT study supports the hypothesis that a different dose and administration regimen may have the potential to improve the efficacy of the drug candidate arfolitixorin in the treatment of colorectal cancer. Based on the conclusions from the analysis, we have chosen to supplement and expand the laboratory studies already started and expect results in the fourth quarter. It is of great importance that we complete the step-by-step strategy, without losing focus and pace," says CEO, Roger Tell.
For more information, please contact
Isofol Medical AB (publ)
Roger Tell, Chief Executive Officer
E-mail: roger.tell@isofolmedical.com
Phone: +46 (0) 760 29 39 11
Roy Jonebrant, Chief Financial Officer
E-mail: roy.jonebrant@isofolmedical.com
Phone: +46 (0) 708 48 12 36
This information is information that Isofol Medical AB (publ) is obliged to make public pursuant to the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 07:00 CEST, on August 22, 2023.
About Isofol Medical AB (publ)
Isofol Medical AB (publ) is developing the drug candidate arfolitixorin with the aim of increasing the efficacy of current standard treatments for colorectal cancer and certain other tumor diseases. A Phase III study of arfolitixorin has been completed and the company is now evaluating opportunities to advance the drug candidate toward a marketing authorization application by conducting additional studies and entering potential partnerships. Isofol Medical AB (publ) is traded on Nasdaq Stockholm.
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