NextCell Pharma updates on its situation in its fourth quarter report
NextCell Pharma AB ("NEXTCL", "NextCell") today releases its Q4 / year-end report (June 1st - August 31st / September 1st - August 31st). This is the first quarterly report since the listing on Aktietorget. The company reports a loss of SEK -4,757,996 in its fourth quarter and a loss of SEK -13,245,206 for the entire financial year. The remaining cash at August 31st was approximately 16 MSEK.
The perhaps most important event during the fourth quarter was the listing on Aktietorget on July 13th and the associated listing issue, which was subscribed to approximately 18 MSEK, corresponding to a subscription quota of approximately 72 percent. The company's main owner, Diamyd Medical AB and Chairman Anders Essen-Möller contributed sizeable amounts. NextCell announced at the end of July 2017 that the company applied to the Medical Products Agency to conduct a clinical trial with the company's drug candidate ProTrans™ on type 1 diabetes patients. The application was granted on October 17 (post-period).
"During the fiscal year, the company's financial position has been strengthened and the cash balance as of August 31st, after a large payment for the GMP-Study Drug, amounted to approximately SEK 16 million. The listing on Aktietorget and the subsequent Medical Products Agency approved clinical trial application indicate that the company is moving forward, from strength to strength,” says CFO Leo Groenewegen.
"I look forward to next year with clinical trial on type 1 diabetes patients, and hope that Cellaviva out service family saving of stem cells cord blood and tissue will develop well,” says CEO Mathias Svahn.
This information is the information that NextCell Pharma AB is required to disclose under the EU Market Abuse Regulation. The information was provided by the above contact person for publication on October 31, 2017.
For more information about NextCell Pharma AB, please contact:
Mathias Svahn, CEO
Phone: 0702-615 504
E-mail: mathias.svahn@nextcellpharma.com
About NextCell Pharma AB:
Stem cells are expected to change the way how many of today's life-threatening diseases are treated. NextCell
Pharma AB develops ProTrans™, a drug candidate consisting of stem cells for the primary treatment of autoimmuneand inflammatory diseases as well as for use in kidney transplants. ProTrans™ consists of selected stem cells derived from the umbilical cord tissue with NextCell Pharma AB's proprietary method. In addition, the company has a service called Cellaviva, Sweden's first and only IVO-approved stem cell bank for the family-saving of stem cells from umbilical cord blood and umbilical cord tissue.