Preparing for clinical phase
July - September in brief
- Total revenues:
SEK 0 (0) thousand.
- Operating profit (EBITDA):
SEK -9,778 (-5,437) thousand.
- Result for the period:
SEK -10,211 (-5,998) thousand.
- Earnings per share:
SEK -0.64 (-0.54).
- Cash and cash equivalents at the end of the reporting period:
SEK 54,158 (9,754) thousand.
- As a consequence of the exercise warrants series 2017/2021 and series 2018/2021, the share capital increased by 204,500 shares and the proceeds to the company amounts to
SEK 1,842 thousand .
- Equity/assets ratio as per the end of the reporting period: 92 (88) %.
- Nasdaq
Stockholm approved trading ofAmniotics shares and warrants on Nasdaq First North Growth
January - September in brief
- Total revenues:
SEK 0 (0) thousand.
- Operating profit (EBITDA):
SEK -39,088 (-15,782) thousand.
- Result for the period:
SEK -40,380 (-17,145) thousand.
- Earnings per share:
SEK -2.55 (-1.54).
- Cash flow for the period:
SEK 53,648 (3,727) thousand.
- In the second quarter
Amniotics raisedSEK 60 million for the Company before issue expenses in a rights issue.
Events after the end of the reporting period
- Lars Stigsson, a member of the Board of Directors of
Amniotics AB (publ) resigned from the Board of Directors of the company on12 October 2021 .
- The members of the Nomination Committee were appointed and consists of: Christer Fåhraeus,
Marcus Larsson , Lars Stigsson represented byFredrik Tiberg andPeter Buhl Jensen , Chairman of the Board ofAmniotics AB .
CEO Statement
Activity level was high in the third quarter, and we saw a continued growth in
During the quarter we have continued working on our pipeline. For our most advanced development project targeting ARDS/COVID-19, the core documents for the planned clinical trial in 2022 will soon be completed. We have advanced as expected and a number of clinical sites will be participating in the upcoming trial. The trial is thoroughly planned and will be finalized in collaboration with our Clinical Research Organization (CRO). We work closely with our CRO, and we are setting up the trial with risk mitigation strategies to keep pace with the development of the disease and to avoid any disruptions.
In addition to the advances in the planning of the study, we are currently manufacturing stem cells that will be used in humans in the ARDS/COVID-19 study. We have successfully completed a number of batches during the quarter and I’m happy to see that the quality, yield and manufacturing processes are in line with what we predicted. During the last quarter of the year, we will continue to manufacture batches of stem cells that will be used in the planned study in 2022.
Some of our peers within in the field of stem cells have shown effect with their investigative stem cell products. This despite COVID-19 being a disease which has experienced a changing treatment regimen during time and across continents. This makes it harder to show efficacy. With our peers results at hand, we have a strengthened belief in Amniotics PulmoStem product for this indication.
The ongoing COVID-19 pandemic is far from over. With new outbreaks and a virus that is mutating, there is currently a great need for an effective treatment for lung diseases related to this and the need will remain for a long time to come. FDA has created a special emergency program for possible coronavirus therapies, the Coronavirus Treatment Acceleration Program (CTAP) to move new treatments to patients as quickly as possible. Currently there are 660 drug development projects in planning stage.
“Continued progress executing on our strategy.”
Along with the progress in trial planning for COVID19,
Peers have shown potential effect in neurology indications. They produce MSCs with a different approach than the one
In
I am proud to mention that
I look forward to a continued eventful last quarter of 2021 and the preparation of the planned phase I study in ARDS/COVID-19 as the next important milestone.
Kåre Engkilde, CEO
© Modular Finance, source