Correction: Idogen AB Interim report January–September 2019

REGULATORY

 

The previous press release was published with an incorrect date in the so-called MAR label. The information in the report below is the same but with the correct date in the MAR label.

 

THIRD QUATER (JULY – SEPTEMBER 2019)

  • Other operating income amounted to KSEK 973 (0).
  • Operating loss amounted to KSEK -6,753 (-7,268).
  • Loss for the period amounted to KSEK -6,622 (-7,318).
  • Cash flow from operating activities was KSEK -8,624 (-6,860).
  • Loss per share before dilution was SEK -0.14 (-0.35). Loss per share after dilution was SEK -0.14 (-0.35).

PERIOD (JANUARY – SEPTEMBER 2019)

  • Other operating income amounted to KSEK 2,967 (0).
  • Operating loss amounted to KSEK -24,822 (-23,065).
  • Loss for the period amounted to KSEK -24,487 (-22,828).
  • Cash flow from operating activities was KSEK -27,809 (-13,189).
  • Loss per share before dilution was SEK -0.50 (-1.10). Loss per share after dilution was SEK -0.50 (-1.10).

SIGNIFICANT EVENTS IN THE THIRD QUARTER

  • Anders Karlsson was appointed as the company’s new CEO as of August 20, 2019.
  • Patent application work proceeds according to plan.

SIGNIFICANT EVENTS DURING THE PERIOD

  • At the end of June, Idogen announced that CEO Lars Hedbys had resigned following five years as CEO of the company.
  • The change of CEO will postpone the transfer to Nasdaq First North, as there is a requirement that the company’s CEO must have been employed for at least three months.
  • In June, Idogen announced that the company had successfully developed a new patentable tolerance-inducing method to replace zebularine in the development of the company’s tolerogenic cell therapy. The company has therefore written down the value of patents related to zebularine in an amount of MSEK 4.6.
  • In April, Idogen announced that NextCell Pharma AB had contacted the company’s Board of Directors regarding a possible merger. In May, Idogen reported that discussions between the companies had been abandoned.
  • In January, Idogen announced that it is extending and broadening its preclinical development programme for tolerogenic cell therapy. This means the clinical trials for IDO 8 and IDO T may be delayed by six months and start in the second half of 2020 for IDO 8 and first half of 2021 for IDO T.
  • Arctic Securities was chosen as Corporate Advisor (CA) ahead of the listing on First North.

SIGNIFICANT EVENTS AFTER THE END OF THE PERIOD 

  • No other significant events occurred after the end of the period that affected the results or financial position.

CONDENSED EARNINGS AND CASH FLOW

2019  2018   2019  2018 2018 
3 months 3 months 9 months 9 months 12 months
(Amounts in KSEK unless otherwise stated) July-Sept  July-Sept   Jan-Sept  Jan-Sept Jan-Dec 
Net sales 973 0 2 967 0 3 766
Operating expenses -7 726 -7 268 -27 789 -23 065 -31 627
Operating loss – 6 753 -7 268 -24 822 -23 065 -27 861
Loss for the period after net financial items -6 622 -7 318 – 24 487 -22 828 -27 634
Avarage number of shares 48 491 533 20 781 790 48 491 533 20 779 833 21 843 166
Avarage number of warrants 0 8 555 883 2 820 621 12 880 835 11 790 710
Loss per share before dilution (SEK) -0,14 -0,35 -0,50 -1,10 -1,27
Loss per share after dilution (SEK) -0,14 -0,35 -0,50 -1,10 -1,27
Cash flow from operating activities -8 624 -6 860 -27 185 -9 961 -10 394
KEY FIGURES
Working capital 21 760 8 532 21 760 8 532 42 306
Acid-test ratio (%) 290 151 290 151 305
Equity/assets ratio (%) 69 51 69 51 71
Loss per share before dilution -0,14 -0,35 -0,50 -1,10 -1,27
Avarage number of shares 48 491 533 20 781 790 48 491 533 20 779 833 21 843 166

 

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