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Active Biotech AB Interim report January - June 2015

LUND, Sweden, Aug. 7, 2015 (GLOBE NEWSWIRE) --

  • Operations focused on the laquinimod projects and organization adjusted accordingly

Laquinimod

  • The pivotal CONCERTO clinical Phase III study in relapsing remitting MS (RRMS) is fully enrolled and results are expected in 2017
  • The first patient was enrolled for the ARPEGGIO Phase II study, which will evaluate laquinimod's potential for treatment of primary progressive multiple sclerosis (PPMS)
  • The Phase II study LEGATO-HD into Huntington's disease is proceeding according to plan
  • Laquinimod presented by Teva at the AAN Annual Meeting on April 18-25, 2015

Tasquinimod

  • Results from the Phase III study 10TASQ10 showed that treatment with tasquinimod significantly reduced the risk of radiographic cancer progression compared to placebo (rPFS, HR=0.69, CI 95%: 0.60 - 0.80) in patients with metastatic castration-resistant prostate cancer (mCRPC) who have not received chemotherapy, but did not extend overall survival (OS, HR=1.09, CI 95%: 0.94 - 1.28).
  • Further development of tasquinimod discontinued and the collaboration agreement with Ipsen terminated

ISI

  • Only commercial activities will be conducted from 2016

Financial summary

MSEK April - June Jan. - June Jan. - Dec.
2015 2014 2015 2014 2014
Net sales 3.2 2.7 6.1 4.9 10.4
Operating loss -70.1 -57.9 -127.5 -117.2 -228.5
Loss for the period -71.4 -57.7 -129.3 -117.9 -231.5
Loss per share (SEK) -0.79 -0.77 -1.44 -1.57 -3.02
Cash and cash equivalents 186.6 227.7 328.5


For further information, please contact:

Tomas Leanderson, President and CEO
Tel: +46 (0)46 19 20 95

Hans Kolam, CFO
Tel: +46 (0)46 19 20 44

The report is also available at www.activebiotech.com

Active Biotech AB
Corp. Reg. No. 556223-9227)
Box 724, SE-220 07 Lund
Tel: +46 (0)46 19 20 00
Fax: +46 (0)46 19 11 00

Active Biotech AB Interim report January - June 2015 http://hugin.info/1002/R/1944149/704251.pdf

HUG#1944149

Source: Active Biotech