INTERIM REPORT JANUARY–DECEMBER 2010
The January – December period and fourth quarter 2010 in brief
- Net sales amounted to MSEK 0.0 (5.9), with MSEK 0.0 (0.0) in the fourth quarter
- Net loss was MSEK 163.5 (154.6), with MSEK 50.1 (37.6) in the fourth quarter
- Loss per share was SEK 0.67 (0.78), with SEK 0.20 (0.19) in the fourth quarter
- Cash flow from operating activities was MSEK -158,9 (-146.9), with MSEK -44.3 (-30.1) in the fourth quarter
- Cash and cash equivalents and other short-term investments totaled MSEK 395.0 (237.2) at the end of the period
- On March 11, 2010, clinical phase II results on eprotirome as add-on therapy for statin-treated patients were presented in the New England Journal of Medicine
- Fredrik Lindgren started as the new CEO of Karo Bio on April 27, 2010
- On July 7, the plan to initially develop eprotirome in the EU for high-risk patients with heterozygous familial hypercholesterolemia (HeFH) was announced
- In October, financing of approx. MSEK 530 was secured, in part through a fully subscribed rights issue generating net proceeds of approx. MSEK 291; in part by an Equity Credit Facility financing agreement of MUSD 35 (approx. MSEK 240)
- In September, Karo Bio’s partner Merck announced its decision to discontinue development of MK-6913 for the treatment of hot flashes. An interim analysis of data showed that pre-defined efficacy criteria were not met. Merck is evaluating its options for future studies involving MK-6913
- In October, Karo Bio initiated a research program regarding ROR-gamma and autoimmune disease
For more information, please contact:
Fredrik Lindgren, Chief Executive Officer
Telephone: +46 70 561 61 77
Erika Söderberg Johnson, Chief Financial Officer
Telephone: +46 8 608 60 52
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