Isofol Medical AB (publ) publishes interim report for January – September 2021
GOTHENBURG, Sweden, November 11, 2021 - Isofol Medical AB (publ), (Nasdaq Stockholm: ISOFOL), announced today that the company's interim report for January – September 2021 is now available on the company's website, www.isofolmedical.com.
Third quarter, July –September 2021
- Net revenue amounted to TSEK 5,154 (18,439) and other revenue to TSEK 0 (0)
- The result for the period amounted to TSEK -51,026 (-30,100)
- Earnings per share amounted to SEK -0.32 (-0.36)
- Cash and cash equivalents at September 30 amounted to TSEK 420,861 (153,612)
January – September 2021
- Net revenue amounted to TSEK 17,702 (18,439) and other revenue to TSEK 0 (0)
- The result for the period amounted to TSEK -139,081 (-134,333)
- Earnings per share amounted to SEK -1.22 (-2.48)
Significant events during the third quarter
- No significant events to report during the quarter
Significant events after the event of the period
- On October 21, Isofol was listed on Nasdaq Stockholm
”The financial resources Isofol obtained in June, in connection with the new share issue, now provide us with peace of mind and better conditions to conclude the ongoing AGENT study and submit an application to the U.S. Food and Drug Administration for approval of arfolitixorin. During the third quarter we, among other things, continued work with our pre-commercial plan and initiated several activities to increase knowledge of arfolitixorin at clinics in the United States. The listing on Nasdaq Stockholm will also strengthen our profile and brand on the market as a late-stage development company with a blockbuster potential, as well as increase the opportunities to gain access to Swedish and international capital markets.” says CEO Ulf Jungnelius.
For more information, please contact
Isofol Medical AB (publ)
Ulf Jungnelius, M.D., CEO
Telephone: +46 709-16 89 55
Gustaf Albèrt, CFO
Telephone: +46 709-16 83 02
The information was submitted for publication, through the agency of the contact person set out above, at 08:00 CET, on November 11, 2021.
Arfolitixorin is Isofol’s proprietary drug candidate being developed to increase the efficacy of standard of care chemotherapy for advanced colorectal cancer. The drug candidate is currently being studied in a global pivotal Phase III study, AGENT. As the key active metabolite of the widely used folate-based drugs, arfolitixorin can potentially benefit more patients with advanced colorectal cancer, as it does not require complicated metabolic activation to become effective.
About Isofol Medical AB (publ)
Isofol Medical AB (publ) is a clinical stage biotech company developing arfolitixorin to improve the efficacy of standard of care chemotherapy for advanced colorectal cancer by increasing tumor response and progression free survival. Isofol holds a worldwide exclusive license agreement with Merck KGaA, Darmstadt, Germany to develop and commercialize arfolitixorin for oncology indications. Isofol Medical AB (publ) is listed on Nasdaq Stockholm.