Summary of the interim report - third quarter 2021
The quarter saw Lipidors most important milestone to date when we entered into an exclusive commercial agreement for registration, marketing, sales and distribution of AKP01 and AKP02 with RELIFE S.r.L. - part of the pharmaceutical giant,
During the period,
Third quarter (Jul-Sep) 2021 | Reporting period (Jan-Sep) 2021 |
Net sales 15 270 KSEK (0) Operating income 3 384 KSEK (-4 915) Result per share prior to and after dilution |
Net sales 15 376 tkr (455) Operating income -9 348 tkr (-10 715) Result per share prior to and after dilution - |
Selected financial data
000's | 2021 Jul-Sep | 2020 Jul-Sep | 2021 Jan-Sep | 2020 Jan-Sep | 2020 Jan-Dec |
Net sales | 15 270 | - | 15 376 | 455 | 620 |
Operating income | -3 384 | -4 915 | -9 348 | -10 715 | -16 264 |
Income after tax | -3 456 | -4 874 | -9 276 | -10 674 | -16 204 |
Total assets | 61 692 | 51 132 | 61 692 | 51 132 | 65 877 |
Cash flow for the period | 6 418 | 28 614 | -4 759 | 22 421 | 37 190 |
Cash flow per share (SEK) | 0.23 | 1.21 | -0.17 | 0.95 | 1.51 |
Cash | 59 544 | 49 534 | 59 544 | 49 534 | 64 303 |
Result per share prior to dilution (SEK) | 0.12 | -0.21 | -0.33 | -0.45 | -0.66 |
Result per share after dilution (SEK) | 0.12 | -0.21 | -0.33 | -0.45 | -0.66 |
Shareholder's equity per share (SEK) | 1.91 | 1.86 | 1.91 | 1.86 | 2.24 |
Equity ratio, % | 88.15 | 96.14 | 88.15 | 96.14 | 96.63 |
In 2019, the subsidiary
Significant events during the third quarter (Jul-Sep)
- On 1st July, we announced that
Lipidor has signed a license agreement under whichLipidor grants RELIFE S.r.l., the right to sell drug candidates for the treatment of psoriasis. -
On 27th September, we announced that
Lipidor has received approval for the study start of a clinical Phase III study of the psoriasis candidate AKP02.
Significant events during the reporting period
- On 18th January, it was announced that
Lipidor had entered into an exclusive agreement withCannassure Therapeutics Ltd. inIsrael for medical cannabis products based onLipidor's AKVANO® technology. -
On
April 23 , it was announced thatLipidor's subsidiaryEmollivet AB had taken the next step towards launch and received a grant ofSEK 300,000 from Vinnova.
Significant events after the reporting period
- The CEO and employees have redeemed all warrants during the month of October. Through the exercise, the number of shares and votes in the company will increase by 580,000.
-
On
October 29 , it was announced thatLipidor has filed a new patent application for medical cannabis products based on its AKVANO® technology.
Statement from
The quarter contained
The potential value of the agreement amounts to at least EUR € 70 million, which mainly comprises income based on estimated sales, as well as one-time payments based on achieved milestones. The initial payment upon signing of the agreement amounted to
Our application to initiate the clinical phase lll-study with the AKP02 substance for psoriasis was approved in September. The primary objective of the study is to compare the therapeutic effect of AKP02 for mild to medium-severe psoriasis with the market leading Enstilar. The study will also measure quality of life and patient satisfaction with the aim of demonstrating advantages in these aspects with AKP02. In our estimation the prospects of positive outcome in the study is high. Results are expected during the second quarter of 2022.
Efforts continue as planned to enter into additional agreements with the psoriasis candidates AKP01 and AKP02 in additional markets. The markets we view particularly positively are
We are also pleased that the cooperation with Cannassure in development of topical medicinal cannabis products is progressing well and according to plan. After the end of the reporting period, at the end of October, we filed a new patent application based on data generated thus far in the project. In turn, this means that the cooperation agreement with Cannassure has now expanded to also include the new patent family. Cannassure's therapeutic focus has primarily been on psoriasis and pain. We hope to file an application for clinical study during the first half of 2022, with results during the first half of 2023.
Under current plans, the agreement with RELIFE, along with existing liquidity, will fully finance operations for the foreseeable future. In addition, there is room to increase the pace of both our preclinical and clinical work. We have our sights set on developing additional topical pharmaceutical candidates based on AKVANO® with continued focus on dermatology. It is a therapeutic field in which we assess significant demand for products with improved treatment results, and thereby increased patient advantages.
CEO
Financial Calendar
Year-end report January -
Interim report January -
Interim report January -
Interim report January -
Information
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