SynAct Pharma: Interim Report January-June 2021 August 27, 2021 (Q2 2021 Report included)

Fri, Aug 27, 2021 08:54 CET

“Positive data of AP1189 in Covid-19 patients bodes well for the future. The hard work at the start of the year continued in the second quarter as SynAct Pharma made additional progress on its pipeline. The Covid-19 pandemic has certainly added complexity, but we have clear priorities, and our attractive project pipeline is progressing well. Our future is bright, and the second half of 2021 promises to be another busy period for us,” said SynAct Pharma’s CEO Jeppe Øvlesen.

Summary of Half-Year 2021 interim report

Second quarter (2021-04-01 – 2021-06-30)

Consolidated net sales during the period amounted to 0 (0) TSEK.
The Group’s profit before tax amounted to -15,856 (-8,502) TSEK.
The Group’s earnings per share amounted to -0.51 (-0.52) SEK.
The equity/asset ratio was 87% (22%).
The average number of shares for the period was 26,006,295.

Half-Year (2021-01-01 – 2021-06-30)

Consolidated net sales amounted to 0 (0) TSEK.
The Group’s profit before tax amounted to -29,925 (-12,324) TSEK.
The Group’s earnings per share amounted to -0.97 (-0.52) SEK.

”SynAct Pharma AB” means the parent company SynAct Pharma AB with corporate registration number 559058-4826. The ”Company” or ”SynAct” means the Group i.e., SynAct Pharma AB and its wholly owned affiliate SynAct Pharma ApS.

Definitions

Earnings per share: Profit for the period divided by the average number of shares outstanding in the period.
Equity/assets ratio: Equity divided by total assets.

Significant events during the second quarter

April 13 − SynAct strengthened its IP portfolio and received ”Intention to Grant" from the European Patent Office for a key patent covering AP1189.
April 19 – SynAct’s shareholders proposed Marina Bozilenko as new member of the Board of Directors.
May 4 – SynAct expanded the AP1189 BEGIN study in Rheumatoid Arthritis with more patients.
May 4 – SynAct announced that Board and Management have extended the lock-up period for their SynAct Pharma AB shares until December 31, 2021.
May 12 – The Company announced a research collaboration with Örebro University with the purpose of studying reduction of inflammation in vascular disease.
May 14 – A collaboration on pharmacogenetic aspects of AP1189 in Rheumatoid Arthritis with Barts and London School of Medicine, Queen Mary University of London was announced.
May 21 – The Annual General Meeting of SynAct Pharma AB was held.
June 1 – Recruitment and dosing of the clinical Phase 2a study with AP1189 in Covid-19 infected patients was completed.
June 23 – Two patent applications covering novel salt and crystal forms related to AP1189 and the oral delivery of AP1189 and these novel forms were filed.
June 30 – SynAct announced positive top-line data from the Phase 2a trial of AP1189 in Covid-19 infected patients with pulmonary insufficiency.

Significant events after the end of the period

July 7 − SynAct announced additional data from the Phase 2a trial of AP1189 in Covid-19 infected patients.
July 7 – The appointment of Anders Dyhr Toft, MD PhD MBA, as Chief Medical Officer (CMO) was announced.
August 6 – SynAct strengthened its organization further by the hiring of Patrik Renblad as VP Finance and Lise Agersted as Director of Operational R&D.
August 20 – SynAct communicated that the American College of Rheumatology Convergence (ACR) has invited the company to present an abstract on AP1189 at ACR Convergence 2021 conference in November.
August 27 – SynAct pharma provided an update on the recruitment status on the BEGIN study (Phase 2a clinical trial in Rheumatoid Arthritis). The company expects to complete recruitment of the 105 subjects by the middle of September 2021 and present topline data early in the fourth quarter 2021

The information was submitted, through the agency of the contact person below, for publication on August 27, 2021

For further information about SynAct Pharma AB, please contact:

Jeppe Øvlesen                                                                         Thomas Jonassen
CEO, SynAct Pharma AB                                                      CSO, SynAct Pharma AB
Phone: +45 28 44 75 67                                                       Phone: +45 40 15 66 69
Mail: joo@synactpharma.com                                          Mail: tj@synactpharma.com

About SynAct Pharma AB

SynAct Pharma AB conducts research and development in inflammatory diseases. The company has a platform technology based on a new class of drug candidates aimed at acute deterioration in chronic inflammatory diseases with the primary purpose of stimulating natural healing mechanisms. For more information: www.synactpharma.com.