To read the quarterly report (in Swedish) click here: https://lipidor.se/investors/financial-reports/
Summary of first quarter
In addition to development efforts, the operational work during the first quarter consisted of financing work for both the short and long term. During the period, one of the Company's patents was sold to strengthen the cash position in the short term, and the remaining ownership in
After the end of the period, it was announced that financing for the clinical study for AKP02G2 had been secured through a partially secured rights issue and a co-investment agreement. In addition, a credit facility was entered into to start activities related to the implementation of the clinical study for AKP02G2.
Q1 (Jan–Mar) 2024 |
Net sales 18 KSEK (8) Operating income -647 KSEK (-2,340) Result per share prior to and after dilution |
Selected financial data | 2024 Jan–Mar | 2023 Jan–Mar | 2023 Jan-Dec |
Net sales, KSEK (thousand kronor) | 18 | 8 | 78 |
Operating income, KSEK | -647 | -2,340 | -15,454 |
Income after tax, KSEK | 310 | 415 | -11,485 |
Total assets, KSEK | 1,764 | 12,489 | 2,824 |
Cash flow for the period, KSEK | -287 | -726 | -8,299 |
Cash flow per share (SEK) | -0.01 | -0.03 | -0.29 |
Cash, KSEK | 341 | 8,201 | 628 |
Result per share prior to and after dilution (SEK) | 0.01 | 0.01 | -0.40 |
Shareholder’s equity per share (SEK) | -0.31 | 0.09 | -0.32 |
Equity ratio, % | -511.85% | 20.51% | -330.70% |
Significant events during the first quarter (Jan–Mar)
- On 24th January, it was announced that one of the Company's patents, which was previously out-licensed to
Emollivet AB , has now been sold to the same party. The sale was aimed at strengtheningLipidor 's cash position in the short term. - On 6th March, it was announced that a sale of 100 Emollivet shares, corresponding to
SEK 0.7 million , has been completed to strengthen the company's cash position in the short term, and on 26th March, it was announced that the remaining ownership in Emollivet, according to plan, has been divested. The company thereby received an additional approximatelySEK 0.5 million . - On 21st March, it was announced that approval for the start of a clinical phase III study with the psoriasis candidate has AKP02G2 been obtained from the
Indian Medical Products Agency (DCGI).
Significant events after the reporting period
- On 10th April, it was announced that
Lipidor resolves on a rights issue of approximatelySEK 58 million and that a co-investment agreement ofSEK 12.4 million has been entered into. The Rights Issue is guaranteed to approximately 66 percent through subscription commitments and guarantee commitments. This will secure funding for the planned Phase III study with AKP02G2. A credit facility ofSEK 3 million is entered into for start-up activities linked to the implementation. Lipidor AB held an Extraordinary General Meeting inStockholm on21 May 2024 . The AGM resolved to approve the Board of Directors' resolution on a new issue of units, consisting of shares and warrants of series TO 2, with preferential rights for the shareholders, in accordance with what the company announced in a press release on10th April 2024 .
Statement from Lipidor’s CEO
A couple of weeks ago, we announced to the market the very good news that
During the period, a patent linked to the animal segment was sold, and the remaining shares in the former subsidiary Emollivet were divested. Our focus strategy on drug candidates for psoriasis in late clinical phase has previously meant pausing other pre-clinical drug projects. All in all,
Upcoming milestones
As previously reported, we have already received approval from the Indian authority to conduct the clinical study. We have also now activated both our CRO (
The coming months
Yesterday, a decision was made at an Extraordinary General Meeting on the upcoming rights issue, with a subscription period starting on 29/5 and continuing until 12/6. A prospectus will be available shortly on our website. I hope that as many people as possible find the offer interesting and choose to join us on our exciting journey.
It is good that we now have guaranteed financing, and that we still have the support of both major owners and partners. Conducting a Phase III study is a privilege that not every company enjoys, and we will do our utmost to ensure that the conditions for a correct delivery in terms of time and quality are made.
We are in a favorable position and in the starting blocks for a number of important activities and milestones. It is with great joy and confidence that we continue to work towards our set goals.
CEO
Financial Calendar
The Annual General Meeting will be held on | |
Interim report Q2 2024 | |
Interim report Q3 2024 |
See the interim report
To read the Q1 report (in Swedish) click here: https://lipidor.se/investors/financial-reports/
Publication
The information was provided for publication by Lipidor’s CEO on
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