INTERIM REPORT JANUARY–SEPTEMBER 2008
The period in brief
• Net sales for the nine month period amounted to MSEK 8.9 (5.7)
• Net loss for the nine month period amounted to MSEK 143.6 (148.8)
• Loss per share for the nine month period amounted to SEK 1.24 (1.45)
• Cash flow from operating activities for the nine month period amounted to MSEK -138.3
(-139.2). Cash and cash equivalents and other short-term investments totaled MSEK 286.7 (471.4) at the end of the period
• In the third quarter a phase IIb study with eprotirome as add-on to statin treatment has been successfully concluded. Data show that eprotirome was efficacious, safe and well tolerated
• In August, Karo Bio announced that the collaboration with Wyeth Pharmaceuticals was prolonged for an additional year until August 31, 2009
• A phase IIb study with eprotirome as add-on to the cholesterol-lowering drug ezetimibe has been concluded. Top-line data will be presented by the end of October
Significant events after the end of the reporting period
• A multiple dose study in healthy volunteers with the type 2 diabetes compound KB3305 has been initiated
For further information, please contact:
Per Olof Wallström, President, tel. +46 8 608 60 20
Per Otteskog, Senior Vice President Investor Relations, tel. +46 8 608 60 18
Erika Johnson, Chief Financial Officer, tel. +46 8 608 60 52
Legal disclaimer
This financial report includes statements that are forward looking and actual results may differ materially from those stated. In addition to the factors discussed, among other factors that may affect results are development within research programs, including development in pre-clinical and clinical trials, the impact of competing research programs, the effect of economic conditions, the effectiveness of the Company’s intellectual property rights and preclusions of potential third party’s intellectual property rights, technological development, exchange rate and interest rate fluctuations, and political risks.
The information is of a nature which Karo Bio shall need to disclose according to the Securities Market Act. The information was disclosed October 23, 2008, 08:30 am