October –
- Net sales amounted to 0 (-0.1) MSEK
- The operating result for the period was 19.2 (-8.9) MSEK
- The net result was -18.7 (-9.1) MSEK corresponding to earnings per share of
SEK -0.27 (-0.26) - Cash flow from operating activities amounted to -3.5 (-10.2) MSEK
- Cash and cash equivalents amounted to 13.5 (5.3) MSEK
January –
- Net sales amounted to 0 (1.9) MSEK
- The operating result for the period was -40.7 (-36.6) MSEK
- The net result was -40.2 (-36.9) MSEK corresponding to earnings per share of
SEK -0.63 (-1.07) - Cash flow from operating activities amounted to -26.2 (-35.6) MSEK
Significant events 2023
- The rights issue was approved at an EGM in
January 2023 and was completed inFebruary 2023 . Approximately 72.7 percent of the rights issue, were subscribed for. The bottom guarantors were allocated approx 8.6 percent of the rights issue, and the top guarantors approx 14.4 percent of the rights issue. The company received approximatelySEK 46.5 million before issue costs. Three of the guarantors chose compensation in the form of shares. - The company implements significant cost containment measures to maximize the possibility of reaching a license agreement without the need for further financing. The decision means that further investments in clinical development will be held back until licensing agreements can be secured. Staff reductions have been implemented and Anders Månsson left the CEO role in
August 2023 . The board appointedMatthew Lindon as acting CEO. Max Mitteregger resigned from the Board of Directors- The collaboration agreement with
Johnson & Johnson Enterprise Innovation Inc was closed. - Jenni Björnulfson was appointed CEO.
- Daniel Lifveredson resigned from the Board of Directors.
- The Board of Directors made its seats available.
Events after the reporting period
- On the Extraordinary General Meeting of shareholders on the
9 January 2024 Daniel Lifveredson, Torbjörn Browall and Lars-Inge Sjöqvist were elected new members of the Board. - In January it was announced that an agreement to acquire
Noviga Research AB had been signed.
CEO Statement
When we sum up 2023, we can conclude that it was a turbulent year for
In 2023, the main focus has been on finding a partner to out-license Liproca Depot and other projects. A successful out-licensing of Liproca Depot would give
The fact that both the start of the study and the out-licensing were delayed, and that J&J chose to not prioritize our joint project was a clear challenge for the company. It was therefore decided to halt all clinical development in order to significantly strengthen the company's financial sustainability as additional funding was not considered possible to obtain in the weak market environment. As a result, the company's organization was reduced and all further investment in projects was stopped. The measures taken has significantly reduced the company's operating costs. The measures will have full effect from the beginning of 2024.
In recent months,
For
Finally, I would like to take this opportunity to thank the Board of Directors who resigned in connection with the Extraordinary General Meeting held in
Jenni Björnulfson
CEO and CFO
The interim report is available on the company’s website https://liddspharma.com/en/investors/financial-reports/
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