This is a translation of the interim report published in Swedish at
Third quarter in brief
As well as the period 1 January to30 September 2022
July – September
Financial summary for the third quarter
- Net sales amounted to
SEK 0 million (SEK 0.0 million ). - R&D costs amounted to
SEK 8,7 million (10,9 million). - Operating profit for the third quarter amounted to
SEK -10,7 million (-10,9 million). - Profit after financial items for the third quarter amounted to
SEK -10,9 million (-11,0 million). - Earnings per share, before and after dilution, for the third quarter amounted to
SEK -0,19 kr (-0,20 kr). - Cash flow from operating activities for the third quarter amounted to
SEK -14,1 million (-12,0 million). - Equity as of
September 30, 2022 amounted toSEK 84,1 million (133,3 million) or 1,5 kr (2,38 kr) per share. - The equity / assets ratio as of
September 30, 2022 was 89 percent (91 percent). - Cash and cash equivalents on
September 30, 2022 amounted toSEK 68,2 million (118,7 million).
January – September
Financial summary for the entire period
- Net sales amounted to
SEK 0 million (SEK 0.0 million ). - R&D costs amounted to
SEK 34,0 million (29,7 million). - Operating profit for the period amounted to
SEK -38,0 million (-32,5 million). - Profit after financial items for the period amounted to
SEK -38,5 million (-32,7 million). - Earnings per share, before and after dilution, for the period amounted to
SEK -0,69 kr (-0,59 kr). - Cash flow from operating activities for the period amounted to
SEK -38,3 million (-29,5 million). - Equity as of
September 30, 2022 amounted toSEK 84,1 million (133,3 million) or 1,5 kr (2,38 kr) per share. - The equity / assets ratio as of
September 30, 2022 was 89 percent (91 percent). - Cash and cash equivalents on
September 30, 2022 amounted toSEK 68,2 million (118,7 million).
Significant events during the third quarter
Kancera reported convincing preclinical results and decision to initiate clinical studies of KAND567 in ovarian cancerKancera reported that the recruitment to the ongoing phase IIa study of KAND567 in myocardial infarction is progressing well and that a decision has been made to enable the recruitment of an additional 10 patients, which should provide a sufficient number of evaluable patients to be able to report the study's primary objectives.
Significant events after the end of the third quarter
Kancera announces a decision on a rights issue of approximatelySEK 90 million with the aim of increasing efforts and investments in clinical development for the treatment of ovarian cancer as well as the manufacture of additional study drug for upcoming clinical trials. With the support of authorization from the annual general meeting onMay 25, 2022 , the board has decided on a new issue of units consisting of shares and warrants for a maximum of approximatelySEK 90 million with preferential rights forKancera 's shareholders. In the event of full subscription in the rights issue, the Company will receive approximatelySEK 90 million before transaction costs.Kancera reports new research results that show that the company's Fractalkine blocker KAND145 works effectively against B-cell lymphoma by neutralizing cancer-associated monocytes and macrophages, and that the company therefore sees great potential for treatment with KAND145 against B-cell lymphoma such as chronic lymphocytic leukemia (CLL).Peter Selin takes over responsibility for the company's financial reporting with the new title of Executive Vice President Corporate Development and Finance. Former CFOHans Richter remains as an advisor to the company
CEO statement
Continued strong recruitment of myocardial infarction patients to the FRACTAL study being conducted inEngland . Decision on and funding of the KANDOVA study - clinical development against ovarian cancer.
New issue increases the pace towards commercialization through partnerships
Despite the current climate in the capital market, we believe that the timing of this capital injection to
The FRACTAL study with myocardial infarction patients is progressing according to plan
In the fourth quarter of 2021,
The FRACTAL study continues strongly, which allows for increasing the size of the study by 10 patients (70 patients in total) within current financial means and time frames, thereby strengthening the chances of reaching the study's goals with high quality.
Cardiovascular diseases are the most common cause of premature death in the world today and, amongst these, heart attacks dominate. Annually, approximately 500,000 individuals suffer from a large heart attack in the
Convincing research results and decision to start clinical development against ovarian cancer
The third quarter of the year has meant significant progress for
Solna,
.
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