LUND, Sweden, Nov. 11, 2016 (GLOBE NEWSWIRE) -- Laquinimod
- The clinical trials CONCERTO, ARPEGGIO and LEGATO-HD are progressing according to plan
- The study results from the pivotal clinical Phase 3 CONCERTO trial in relapsing remitting multiple sclerosis (RRMS) are expected in the first half of 2017
- The study results from the pivotal clinical Phase 2 ARPEGGIO study, evaluating laquinimod for the treatment of primary progressive multiple sclerosis (PPMS), are expected in the second half of 2017
- Preclinical results concerning laquinimod were presented at the ECTRIMS 2016 Congress held in London, UK, on September 14-17, 2016
- Special Protocol Assessment (SPA) for laquinimod rescinded after discussions with the FDA
ANYARA
- Licensing agreement entered into with NeoTX Therapeutics Ltd
Tasquinimod, Paquinimod (57-57) and SILC (ISI)
- Out-licensing activities are continuing
New share issue
- The Board of Directors has today decided, based on the authorization granted by the Annual General Meeting, to implement a rights issue totaling approximately SEK 55 M
- The issue is at no cost guaranteed in full by the company's largest owner MGA Holding AB
Financial summary
| SEK M | July - Sept | Jan - Sept | Full Year | ||
| 2016 | 2015 | 2016 | 2015 | 2015 | |
| Net sales | 4.1 | 5.2 | 12.0 | 11.3 | 16.3 |
| Operating loss | -11.1 | -22.2 | -41.6 | -149.7 | -177.9 |
| Loss for the period | -12.4 | -23.4 | -44.8 | -152.7 | -193.5 |
| Loss per share, before and after dilution (SEK) | -0.14 | -0.26 | -0.50 | -1.70 | -2.15 |
| Cash and cash equivalents (at the end of the period) | 39.9 | 132.4 | 103.6 |
- Operating costs reduced by 67 % (SEK 107.4 M) compared with 2015
- Operations are progressing according to plan pending the Phase 3 results for laquinimod in the first half of 2017
For further information, please contact:
| Tomas Leanderson, President and CEO Tel: +46 46 19 20 95 Hans Kolam, CFO Tel: +46 46 19 20 44 | Active Biotech AB (Corp. Reg. No. 556223-9227) Box 724, SE-220 07 Lund Tel: +46 46 19 20 00 Fax: +46 46 19 11 05 |
The report is also available at www.activebiotech.com.
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Source:Active Biotech AB