To read the quarterly report (in Swedish) click here: https://lipidor.se/investors/financial-reports/
Summary of interim report
Operational work during the third quarter consisted of development initiatives as well as strategy and financing work.
Q3 (jul-Sep) 2023 | Reporting period (Jan-Sep) 2023 |
Net sales 39 KSEK (0) Operating income -3,981 KSEK (-12,224) Result per share prior to and after dilution | Net sales 48 KSEK (0) Operating income -9,935 KSEK (-32,496) Result per share prior to and after dilution |
Selected financial data | 2023 Jul-Sep | 2022 Jul-Sep | 2023 Jan-Sep | 2022 Jan-Sep | 2022 Jan-Dec |
Net sales, KSEK (thousand kronor) | 39 | - | 48 | - | 45 |
Operating income, KSEK | -3,981 | -12,224 | -9,935 | -32,496 | -41,470 |
Income after tax, KSEK | -2,902 | -12,197 | -6,147 | -32,425 | -41,379 |
Total assets, KSEK | 6,650 | 24,948 | 6,650 | 24,948 | 15,621 |
Cash flow for the period, KSEK | -1,377 | -6,850 | -5,108 | -32,666 | -42,380 |
Cash flow per share (SEK) | -0.05 | -0.24 | -0.18 | -1.13 | -1.46 |
Cash, KSEK | 3,819 | 18,641 | 3,819 | 18,641 | 8,927 |
Result per share prior to and after dilution (SEK) | -0.10 | -0.42 | -0.21 | -1.12 | -1.43 |
Shareholder’s equity per share (SEK) | -0.14 | 0.40 | -0.14 | 0.40 | 0.07 |
Equity ratio, % | -60.17% | 46.66% | -60.17% | 46.66% | 13.74% |
In 2019, the associated company
Significant events during the third quarter (Jul-Sep)
- On
20th September 2023 ,Lipidor AB announced that it has signed an agreement withCliantha Research to conduct a phase III study with the drug candidate AKP02G2, for the treatment of psoriasis. The study is expected to start recruitment of patients in the first half of 2024 and we hope to be able to present study results as early as December of the same year.
Significant events during the reporting period
- On
17th January 2023 ,Lipidor held an Extraordinary General Meeting inStockholm . The meeting resolved to approve that the company transfers shares in the subsidiaryEmollivet AB to two major shareholders inLipidor . InFebruary 2023 , 653 shares of the parent company's 1,243 shares were sold. - On 26th May,
Lipidor announced that it has set its sights on a new Phase III study with AKP02 in 2024 after analysing data from the previously conducted clinical study with the drug candidate AKP02. AKP02 was very close to achieving equivalent therapeutic effect with the reference product in the study conducted in 2022. An in-depth analysis of why the effect of the different preparations differed has resulted in an explanatory model that is now undergoing a verification programme. - On 22nd June,
Lipidor announced that theSwedish Medical Products Agency had assessed that AKP02G2, the modified version of the company's drug candidate AKP02 for the treatment of psoriasis, can be used in a new clinical Phase III study. This means that no further clinical studies with AKP02G2 will be needed before a new Phase III study can be initiated. - On 29th June,
Lipidor AB announced that financing of 2 MSEK is provided through the sale of holdings in the associated company Emollivet. A short-term loan of 1 MSEK has also been signed, of which 0.5 MSEK has been provided to the company at the end of the reporting period.
Significant events after the reporting period
- On 18th October, it was announced that a new agreement had been reached with RELIFE regarding the company's psoriasis project. The new terms relate to geographic expansion through the addition of the
Asia-Pacific region and an updated timeline.Lipidor has previously signed a license agreement in whichLipidor grants RELIFE exclusive rights to register, market, distribute and sell drug candidates for the treatment of psoriasis inEurope , the CIS countries andTurkey . The new agreement extends the geographical scope of the license to theAsia-Pacific region . The parties also agree on an updated timeline where the goal is to take the updated second generation of the company's combination formulation for psoriasis through a phase III study in 2024. - On 27th October, it was announced that the company had filed a new patent application with the
European Patent Office (EPO). The patent originates from the development that took place during the reformulation work with AKP02, now AKP02G2. With the new patent application, AKP02G2 and a number of other applications of the technology (subject to approval by the patent authorities) will be patent protected until 2044.
Statement from Lipidor’s CEO
We have continued to refine and define our updated business plan in order to present a compelling future for
The new study is planned to be conducted in
There are several factors that bode well for
- In our assessment the new improved formulation of AKP02G2 has great potential to meet study goals.
- The psoriasis market is growing steadily and we do not see that the competition will change significantly in the foreseeable future.
- AKVANO® as a formulation provides substantial patient benefits that increase the possibility for Menarini/RELIFE to gain significant market share. AKP02G2 dries quickly and doesn't smudge compared to ointments and creams.
- We now have a commercial agreement in place that covers approximately 75% of the global world market.
Financing
We are humbled by the fact that today's financial market is challenging, and it will take both perseverance and creativity to bring financing to a successful conclusion. A couple of years ago, the company's progress, together with the verified value chain and plans in place, had created good conditions for financing the next step of the business. Today, as many have experienced, the situation is different and despite operational progress according to plan, the outcome of a financing process is not self-evident.
On behalf of the management team and the Board of Directors, we have developed an operational plan that should be attractive to you as an investor. To get to the next step in the process, we are now working together with our financial advisor to reach one or two anchor investors who can provide the conditions deemed necessary in today's market climate.
CEO
Financial Calendar
Year end report 2023 | |
Annual report 2023 | |
Interim report Q1 2024 | |
Interim report Q2 2024 | |
Interim report Q3 2024 |
See the interim report
To read the quarterly report (in Swedish) click here: https://lipidor.se/investors/financial-reports/
Publication
The information was provided for publication by Lipidor’s CEO on
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