Uppsala, Sweden, Dec. 3, 2015 (GLOBE NEWSWIRE) -- SECOND QUARTER August 1 - October 31, 2015
- Consolidated net sales amounted to TSEK 52, compared to TSEK 558 in the second quarter of 2014
- Operating loss was TSEK 41,008 compared to a loss of TSEK 24,145 in the second quarter of 2014
- Net loss after tax amounted to TSEK 43,395 compared to a loss of TSEK 26,715 in the second quarter of 2014
- Loss per share was SEK 0.44 compared to a loss of SEK 0.30 in the second quarter of 2014
- Comprehensive loss was TSEK 43,417 compared to a loss of TSEK 26,715 in the second quarter of 2014
THE PERIOD May 1 - October 31, 2015
- Consolidated net sales amounted to TSEK 271 compared to TSEK 1,552 in the same period 2014
- Operating loss was TSEK 78,827 compared to a loss of TSEK 54,496 in the same period 2014
- Net loss after tax amounted to TSEK 83,215 compared to a loss of TSEK 59,704 in the same period 2014
- Loss per share was SEK 0.85 compared to a loss of SEK 0.68 in the same period 2014
- Comprehensive loss was TSEK 83,221 compared to a loss of TSEK 59,704 in the same period 2014
- Oasmia launched Paclical(r) in Russia and obtained the first commercial orders for the Russian market with total end-user value of about USD 9 million
- The listing on the NASDAQ US stock list and IPO of approximately USD 9.5 million in gross proceeds closed
- Nexttobe AB loan to Oasmia was replaced by a new loan and maturity date extended
EVENTS AFTER THE CLOSING DAY
- Final positive data for Paclical in head-to-head study with Abraxane(r)
- The option for over-allotment in connection to the listing on NASDAQ US was utilized and gross proceeds increased by additional approximately USD 0.9 million. Total gross proceed increased to approximately USD 10.4 million.
- Strong interest for Oasmia's lead human cancer drug Paclical at the 19:th Annual Russian Cancer Congress
"It has been a very eventful period for Oasmia. We have as the first Swedish company in a long time entered the American stock market through a US NASDAQ listing. The listing will help to increase interest for Oasmia in the USA, which is the market with the greatest potential for us. In connection with the listing, we performed an Initial Public Offering for new American investors. We have received a great interest on our roadshows, especially from investors specialized in the pharmaceutical sector.
Another important milestone for the company is that we have received our first orders for Paclical from Russia. They are estimated to an end-user value of about USD 9 million. The fact that these orders were this significant is a very important indication that the interest for Paclical in Russia is great. We expect significant growth in the region, which also includes the CIS countries, and that more doctors see the benefits of treatment with Paclical compared to standard treatment.
We have also received final data from the head-to-head study with Paclical and the market-leading product on the global paclitaxel market Abraxane, which is marketed by Celgene. The data shows a total bioequivalence, which indicates that both products have the same efficacy. Abraxane is the only competitor on this market and its sales is estimated to exceed one billion dollars in 2015. We are convinced that there is room for one more product with the same properties on this market.
Oasmia has during the period regained the marketing and sales rights to Paccal Vet in the USA, and this process was completed on October 1, 2015. This move is important to achieve growth on the American market for veterinary pharmaceuticals and increases our flexibility by allowing us to control how our products are marketed.
In order to strengthen the company financially and in addition to the share issue, Nexttobe has also extended a loan, which shows that we have a long-term relation with our principal owners. As we expect that revenues will be generated from sales in Russia shortly, we see the future with optimism, although much work remains", comments Mikael Asp, CEO for Oasmia.
Anders Lundin, CFO
Tel: +46 70 209 63 00
Source: Oasmia Pharmaceutical