Financial Summary for the group
KSEK | 2023-01-01 | 2022-01-01 |
2023-03-31 | 2022-03-31 | |
Net turnover | 0 | 0 |
Profit/loss before tax | -5 976 | -16 679 |
Total assets | 47 131 | 84 986 |
Earnings per share before and after dilution (SEK) | -0,06 | -0,18 |
Cash and cash equivalents as per period end | 22 394 | 69 194 |
Equity ratio as per period end | 86,9% | 85,5% |
Significant events during the first quarter of 2023
Cyxone announces the nomination committee's proposal for the AGM and the resignation of two board members.Cyxone makes significant progress in the manufacturing process for rabeximod.Cyxone receive ethical and regulatory approval fromGeorgia to conduct clinical Phase 2b study in RA.Cyxone advances the patent portfolio for rabeximod.
Significant events after the end of the period
- Carl-Magnus Högerkorp is elected as a new board member until the next AGM.
Cyxone receives patent approval from the US for the salt forms of the compound rabeximod.
CEO Carl-Magnus Högerkorp comments
We continue to gradually build our projects step by step. The focus is of course on the Phase 2b study APPRAIS with rabeximod in rheumatoid arthritis, but many other activities are continuously carried out to create a better foundation for both the rabeximod and T20K project.
Rabeximod advances with new approvals for the study APPRAIS
The preparations for the planned phase 2b study APPRAIS in patients with moderate to severe rheumatoid arthritis is progressing. In February, ethical and regulatory approval was obtained from the
In order to further document safety in the rabeximod project, we have conducted a follow-up non-clinical GLP study during the autumn and winter. In the dialogue we had with the
Patent applications reach new milestones
Since patents are a very important component in the commercialization process of new drugs, the continuous work to develop and strengthen the company's patent portfolio is something that much time and resources are invested into.
Important advances in the development of manufacturing processes
Other important aspects of the drug development process are manufacturing of the drug substance itself. During the early phases of development, small-scale manufacturing according to the principles of Good Manufacturing Practice (GMP) is important to establish. As the project advances, a more scalable process is necessary to get in place, that enables cost-effective manufacturing of the drug.
In the T20K project, we have worked with a process that makes it possible to produce substances based on chemical synthesis and enzymatic modification of the T20K molecule, a method based on work from the research group in
In terms of continued optimization of a scalable manufacturing process for rabeximod, we made significant progress in Q1. One of the process steps could be significantly shortened by applying a different technology - from having previously required days, this step could be shortened to only requiring a few hours, which is very significant for a future scaled-up process.
New interest in immunology within the industry creates optimism
The Life Science sector is currently strongly affected by the current economic situation, where increased interest rates, unpredictability and inflation mean that the risk willingness on the market decreases. However, since
Please follow the company's development and our participation in investor meetings via Nasdaq First North Growth Market and on the company's website, www.cyxone.com
Carl-Magnus Högerkorp
CEO
Upcoming financial reports and Annual General Meeting
2023
30 May Annual General Meeting
30 August Half Year Report
27 October Interim Report Q3
2024
23 February Year-end Report 2023
The report is enclosed in full here, and all reports will be available from these dates at www.cyxone.com
Submission of Interim Report
Malmö
The Board of Directors
Disclaimer
This is a translation of the original Swedish version of the interim report. In case of any discrepancy between this translation and the Swedish original, the latter shall prevail.
Contact
Carl-Magnus Högerkorp, CEO
Tel: +46 (0)70 781 88 12
Email: carl.hogerkorp@cyxone.com
The information was submitted for publication, through the agency of the contact person set out above, on 12th of
This press release contains forward-looking statements that constitute subjective estimates and forecasts about the future. Assessments about the future are only valid on the date they are made and are, by their nature, similar to research and development work in the biotech field, associated with risk and uncertainty. In light of this, actual outcomes may differ substantially from what is described in this press release.
About
Please visit www.cyxone.com
https://news.cision.com/cyxone/r/interim-report-1-january-to-31-march-2023,c3768498
https://mb.cision.com/Main/16882/3768498/2056718.pdf
(c) 2023 Cision. All rights reserved., source