Nuevolution AB (publ) announces its results for the second quarter 2016/17

Stockholm, 8 February 2017. Nuevolution AB (publ) announces its report for the second quarter 2016/17. The report is available on the company’s home page (www.nuevolution.com). The following is taken from the quarterly report.

Second quarter 2016/17 (October-December 2016) summary

Deals worth potentially up to SEK 7.9 billion secured during quarter

•  Second quarter: Net sales amounted to SEK 111.0 million (11.2). First half: SEK 112.8 million (12.3).  
•  Second quarter: Operating costs were SEK 35.1 million (39.1). First half: SEK 64.7 million (65.8).
•  Second quarter: Operating result was SEK 75.8 million (-27.9). First half: SEK 48.1 million (-53.5).
•  Second quarter: Net result amounted to SEK 56.4 million (-25.6). First half: SEK 30.8 million (-49.5).
•  Second quarter: Earnings per share (EPS) was SEK 1.32 (-0.81). First half: SEK 0.72 (-1.64).
•  Net cash amounted to SEK 142.9 million as per December 31, 2016 (258.4) excluding upfront payment in cash from Almirall agreement entered in mid-December 2016.
•  October 2016: Nuevolution-Amgen multi-target research collaboration. Nuevolution eligible to receive up to USD 410 million (SEK 3.5 billion) in licensing fee, development and sales milestone payment per development program as well as tiered royalties on future sales.
•  December 2016: Nuevolution-Almirall global strategic collaboration for development and commercialization of Nuevolution’s RORγt inhibitor program for treatment of inflammatory skin diseases and disorders and psoriatic arthritis. Nuevolution receives EUR 11.2 million (SEK 109.2 million) upfront before Spanish withholding tax, and up to EUR 442 million (SEK 4.3 billion) in milestone payments as well as tiered royalties on future sales.
•  December 2016: Nuevolution and Prof. Kristian Helin, University of Copenhagen, receive a DKK 16.4 million (SEK 21.6 million) grant from Innovation Fund Denmark to identify small molecules for NSD proteins, hyper-activated in certain cancers.
•  In the BET inhibitor program, a preclinical study in a second mouse model of human lupus has been initiated, and is expected to report results in mid-2017. The results of an ongoing preclinical study in Idiopathic Pulmonary Fibrosis (IPF) is expected to be reported in the second quarter of 2017.

Events occured after December 31, 2016:

In mid-January 2017, Nuevolution received the upfront payment in the Almirall collaboration.

Message of the CEO

“Second quarter 2016/17 was an important one for the company with execution of the agreements with Amgen and Almirall and for obtaining the Innovation Fund Denmark research grant for our collaboration with Professor Kristian Helin, University of Copenhagen. I am most pleased to see that we secured such strong partnerships during the quarter, and I am excited to see the research and development of programs progress together with our partners” said Alex Haahr Gouliaev, CEO.

Conference call and webcast

On Wednesday 8 February at 14:00 CET, the company’s CEO and CFO will host a conference call and webcast presentation of the results and provide an update on partnering activities and pipeline programs. Access to the event can be obtained as follows:

LIVE access on Wednesday 8 February at 14:00 CET

Telephone numbers:

SE: +46 85 664 2666

DK: +45 3544 5575

UK: +44 20 3008 9808

US: +1 855 831 5946

Webcast available at www.nuevolution.com in the Investors section and at www.financialhearings.com. 

REPLAY access

Webcast replay will be available on Nuevolution’s website at www.nuevolution.com in the Investors section and at www.financialhearings.com. 

For more information, please contact:

Alex Haahr Gouliaev, CEO

Phone: +45 3913 0902

Email: ahg@nuevolution.com 

Henrik Damkjær Simonsen, CFO

Phone: +45 3913 0947

Email: hs@nuevolution.com 

Information about Nuevolution AB (publ)

Nuevolution AB (publ) is a leading small molecule drug discovery biotech company founded in 2001, and headquartered in Copenhagen, Denmark. Nuevolution partners its discovery platform and programs with pharmaceutical and biotechnology companies to seek future benefit of patients in need of novel medical treatment option. Nuevolution’s internal programs are focused on therapeutically important targets within inflammation, oncology and immuno-oncology.

This information is information that Nuevolution AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Market Act. The information was sent for publication, through the agency of the contact persons set out above, on Wednesday 8 February, 8:30 (CET).

Nuevolution AB (publ) is listed at Nasdaq First North in Stockholm, Sweden (ticker: NUE.ST). Redeye AB acts as Certified Advisor to Nuevolution AB (publ). More information about Nuevolution can be found on: www.nuevolution.com.

Tags: