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INTERIM REPORT JANUARY-JUNE 2015

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THE PERIOD AND THE SECOND QUARTER

  • Net sales amounted to MSEK 2.3 (13.2), whereof the second quarter MSEK 1.8 (6.8)
  • Net loss was MSEK 36.9 (27.6), whereof the second quarter MSEK 21.5 (14.2)
  • Non-recurring costs of approximately MSEK 10 in the second quarter
  • Operating expenses is estimated to be 65 per cent lower from the third quarter
  • Loss per share was SEK 0.05 (0.04), whereof the second quarter SEK 0.03 (0.02)
  • Cash flow from operating activities was MSEK -32.4 (-26.3), whereof the second quarter MSEK -13.0 (-13.1)
  • Cash and cash equivalents and other short-term investments at the end of the period totaled MSEK 19.1 (71.9)
  • In April, Karo Bio acquired a unique product for cold disease
  • Two share issues totaling MSEK 250 was carried out, and subscribed to 137 percent. The issues will be completed after period-end, and are hence not reflected in the cash position.

SIGNIFICANT EVENTS AFTER THE END OF THE REPORTING PERIOD

  • The Board proposes a reverse stock split in which 20 shares are consolidated into 1 share, and has therefore convened an Extra General Meeting on August 7, 2015.

   
CONFERENCE CALL / AUDIOCAST TODAY AT 10.00 A.M. CET
A presentation of the report (in Swedish) will take place today 10.00 a.m. The presentation and slides will be available through the corporate website www.karobio.se or by telephone +46 8 566 426 69. Questions may be submitted over the internet or by telephone.
  

FOR FURTHER INFORMATION, PLEASE CONTACT:
Henrik Palm, CFO, +46 8 608 6076, +46 70 540 4014 or henrik.palm@karobio.se

  
ABOUT KARO BIO
Karo Bio is a development company with a focus on broadening its activities to cover projects and products closer to market. The company has several projects advancing towards clinical phase. Operations are con-ducted in Huddinge, Sweden and the share is listed on Nasdaq Stockholm.

The information in this report is such that Karo Bio is required to disclose under the Swedish Securities Market Act. The information was disclosed on July 10, 2015 at 8.30 a.m. CET.

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Interim report Karo Bio Q2 2015

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