To read the year-end report (in Swedish) click here: https://lipidor.se/investors/financial-reports/
Summary of fourth quarter
Operational work during the fourth quarter consisted of development initiatives as well as strategy and financing work.
Q3 (Oct-Dec) 2023 | Reporting period (Jan-Dec) 2023 |
Net sales 30 KSEK (45) Operating income -5,593 KSEK (-8,978) Result per share prior to and after dilution | Net sales 78 KSEK (45) Operating income -15,454 KSEK (-41,470) Result per share prior to and after dilution |
Selected financial data | 2023 Oct-Dec | 2022 Oct-Dec | 2023 Jan-Dec | 2022 Jan-Dec |
Net sales, KSEK (thousand kronor) | 30 | 45 | 78 | 45 |
Operating income, KSEK | -5,593 | -8,978 | -15,454 | -41,470 |
Income after tax, KSEK | -5,338 | -8,957 | -11,485 | -41,379 |
Total assets, KSEK | 2,824 | 15,621 | 2,824 | 15,621 |
Cash flow for the period, KSEK | -3,191 | -9,714 | -8,299 | -42,380 |
Cash flow per share (SEK) | -0.11 | -0.34 | -0.29 | -1.46 |
Cash, KSEK | 628 | 8,927 | 628 | 8,927 |
Result per share prior to and after dilution (SEK) | -0.18 | -0.31 | -0.40 | -1.43 |
Shareholder’s equity per share (SEK) | -0.32 | 0.07 | -0.32 | 0.07 |
Equity ratio, % | -330.70% | 13.74% | -330.70% | 13.74% |
Significant events during the fourth quarter (Oct-Dec)
- On 18th October, it was announced that a new agreement had been reached with RELIFE regarding rights to register, market, distribute and sell drug candidates in the company's psoriasis project. The new terms relate to geographic expansion through the addition of the
Asia-Pacific region , and an updated timeline with the goal of taking the company's combination formulation for psoriasis through a Phase III study in 2024. - On 27th October, it was announced that the company has filed a new patent application with the
European Patent Office (EPO) regarding AKP02G2. Subject to approval, AKP02G2 and a number of other applications of the technology will be patent protected until 2043. - On 30th November, it was announced that the company was changing its Certified Adviser from
Erik Penser Bank AB toCarnegie Investment Bank AB (publ). - On 5th December, the company presented its Nomination Committee, which will consist of four members.
- On 20th December, it was announced that the company, through its partner
Cliantha Research , has submitted an application to theIndian Medical Products Agency to start a Phase III study with the drug candidate AKP02G2 regarding topical treatment of mild to moderate plaque psoriasis. - On 21st December, it was announced that 63 shares, corresponding to approximately
SEK 0.5 million , have been divested in the associated company Emollivet and that a loan of approximatelySEK 0.6 million has been raised from the company's largest shareholderCerbios-Pharma SA .
Significant events during the reporting period
- On
17th January 2023 ,Lipidor held an Extraordinary General Meeting inStockholm . At the Annual General Meeting, a resolution was passed approving the transfer of shares in the subsidiaryEmollivet AB to two major shareholders inLipidor . InFebruary 2023 , 653 shares out of the Parent Company's 1,243 shares were sold. - On 26th May,
Lipidor announced that it had decided to pursue a new Phase III study with AKP02G2 in 2024. - On 22nd June,
Lipidor announced that theSwedish Medical Products Agency assesses 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. - On 29th June,
Lipidor AB announced that financing ofSEK 2 million would be provided through the sale of its holding in the associated company Emollivet. A short-term loan ofSEK 1 million has also been signed, of whichSEK 0.5 million has been provided to the company at the end of the reporting period. - On
20th September 2023 , it was announced thatLipidor AB has signed an agreement withCliantha Research to conduct a Phase III study with the drug candidate AKP02.
Significant events after the reporting period
- On
January 24 , it was announced that one of the company's patents, which was previously out-licensed toEmollivet AB , has now been sold to the same party. The sale aims to strengthenLipidor 's cash position in the short term.
Statement from Lipidor’s CEO
During the fourth quarter, the focus has been on preparations for the planned clinical Phase III study with the combination drug AKP02G2 for the treatment of psoriasis. On 20th December, an application for study approval was submitted to the
The year as a whole
In 2023,
The company's ability to obtain bridge financing for the reformulation work that needed to be carried out was of the utmost importance. Through the divestment of ownership in subsidiaries, the possibility of bridge loans and renegotiated terms with partners, space was created to work towards another Phase III study with generation two of AKP02 (AKP02G2). Decisive efforts were made during the year by several partners, owners, the Board of Directors and management to create the conditions for continued operation and value development in the company.
At the end of the third quarter, a new formulation, a project plan with procured key suppliers and a financial advisor were in place, and the conditions for financing the company were considered to be quite good.
Financing
At the time of writing, we are continuing to work on finding a financing solution. The hope is that more people will want to invest in the company's vision and that the project's intended results will reach the market and, thereby, contribute to an improved everyday life for many patients.
CEO
Financial Calendar
Annual report 2023 | |
Interim report Q1 2024 | |
Annual General Meeting | |
Interim report Q2 2024 | |
Interim report Q3 2024 |
See the year-end report
To read the year-end 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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