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Interim report January-March 2017

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Vicore Pharma Holding publish the interim report for the period January-March, 2017.

Important events during the first quarter 2017

  • On February 23, the Board of Directors took a decision on two share issues. The resolution was taken based on an authorisation from the Annual General Meeting 2016 on 2 million shares and is partly conditional on a favourable decision in the Extraordinary General Meeting’s subsequent approval for an additional 1.5 million shares. In total, around SEK 56 million was raised through the two share issues.
  • Vicore Pharma received Orphan Drug Designation (ODD) from the US pharmaceutical agency, the Food and Drug Administration (FDA), for Idiopathic Pulmonary Fibrosis (IPF) in January.
  • A patent application for new drug molecules based on the C21 was submitted in January.
  • An additional clinical study with the Drug Candidate C21 in a metabolic risk group was started in January.The results from the study are due for reporting during june or july 2017 which is a little bit later than earlier communicated but since it is a stand-alone study the delay will not affect the clinical programme.
  • C21 showed strong effects on key biomarkers in an in-vitro study of pulmonary fibrosis with human cells  presented on March 8.
  • A loan agreement with Capital Recal that facilitated  extra working capital was entered into in January. The deal brought in 2,4 MSEK and has since then been repayed in shares.

First quarter 2017 compared with the first quarter 2016 (group)
TSEK=thousands of sek

  • Profit after financial items for the first quarter of 2017 amounted to TSEK -2,514  (-1,921).
  • Operating profit amounted to TSEK -2,456 (-1,919).
  • Cash flow from operating activities for the period amounted to TSEK -2,474 (-3,968).
  • Shareholders’ equity amounted to TSEK 101,928 (80,328) on March 31.
  • Cash and cash equivalents amounted to TSEK 27,024 (18,421) as of March 31. After the end of the reporting period, the second directed issue of SEK 24,000,000 has been paid out to the company.
  • On March 31, the number of shareholders amounted to just over 1,000 and the total number of shares amounted to 15,868,504.

For further information, please contact:
Per Jansson, CEO
Tel: +46 709 17 47 46 or e-mail: goran.wessman@vicorepharma.com

Göran Wessman, Chairman of the Board
Tel: +46 708 18 16 40 or e-mail: goran.wessman@vicorepharma.com

This is information which Vicore Pharma Holding AB is required to disclose under the EU Market Abuse Regulation and the Securities Market Act. The information was provided by the CEO, Per Janssons auspices, for publication May 10, 2017 at. 10:00 CET.

Vicore Pharmas share is listed on NASDAQ Stockholm, First North under the ticker VICO.
The company´s Certified Adviser is Redeye AB.

About Vicore Pharma Holding
Vicore Pharma, a Nasdaq Stockholm First North listed holding-, and management company. Vicore Pharma develops drugs targeting stimulation of the AT2 Receptor (AT2R) in the Renin-Angiotensin-System (RAS). The company vision is to establish AT2-agonists as a new effective class of small molecule drugs. Our lead candidate, C21 will be focused on the indication Idiopatic pulmonary fibrosis (IPF). For further information, please refer to www.vicorepharma.com

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