Full year report 2002, quarterly report October-December 2002
FULL YEAR REPORT 2002, QUARTERLY REPORT OCTOBER-DECEMBER 2002 * A clinical development candidate was selected in July in the project with Merck & Co., Inc. for development of compounds targeting estrogen receptors and Karo Bio received a significant milestone payment. * Promising compounds have been generated in the collaboration with Bristol-Myers Squibb for treatment of obesity. The first compound in clinical development was abandoned due to potential toxic effects. The collaboration was extended for an additional six months until March 31, 2003. * Project goals in the Aventis BioKey® collaboration were achieved. Milestone payments received. * 41 new patents were granted during the year. Most significant were US patents for compounds targeting glucocorticoid and thyroid hormone receptors for treatment of metabolic disorders. * Group net sales for the full year increased to MSEK 177.7 (136.9) and amounted to MSEK 24.6 (38.3) for the fourth quarter. * Cash flows from operating activities for the full year amounted to MSEK -70.9 (-11.9) and MSEK -32.6 (-17.9) for the fourth quarter. * Operating loss excluding goodwill amortization amounted to MSEK 58.8 (92.5) for the full year and MSEK 32.5 (27.8) for the fourth quarter.The loss for the year, including goodwill amortization, decreased to MSEK 284.4 (320.9) and amounted to MSEK 87.8 (82.8) for the fourth quarter. * Cash and cash equivalents and short-term investments amounted to MSEK 201.2 (282.3) at the end of the year. For further information, please contact Björn Nilsson, President & CEO tel. +46 8 608 60 20,Per Otteskog, Senior Vice President Investor Relations & Corporate Communications, tel. +46 8 608 60 18, or Bertil Jungmar, Vice President Finance & Administration, tel. +46 8 608 60 52. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/02/07/20030207BIT00140/wkr0001.doc The full report http://www.waymaker.net/bitonline/2003/02/07/20030207BIT00140/wkr0002.pdf The full report