NEX-22 clinical trial application submitted, secured funding and tactical priorities for 2024

Significant events during the fourth quarter 2023

  • Nanexa announced the completion of the phase I study NEX-20-01. In addition to previously communicated positive results from the pharmacokinetic evaluation, the company received final safety and tolerability data that also support the further development of the project.
  • Nanexa announced the outcome of the company's rights issue of approximately SEK 121 million, which showed that 42,146,268 shares, corresponding to approximately 34.7 percent of the rights issue, had been subscribed with and without subscription rights. Hence, guarantee commitments of 32,853,732 shares, corresponding to approximately 27.1 percent of the offered shares, were utilized and the rights issue provided the company with SEK 75 million before deduction of transaction costs.
  • Nanexa signed a so-called Material Transfer and Feasibility Study Agreement with one of the largest global pharmaceutical companies, for the evaluation of Nanexa's drug delivery system, PharmaShell®, in a depot formulation of a monoclonal antibody.
  • Nanexa announced that the clinical trial application for the Phase I study of NEX-22 in patients with type 2 diabetes has been received and validated by the European Medicines Agency (EMA).
  • Nanexa's Board of Directors decided to focus the business on three key areas. The decision entails tactical prioritization and cost savings with the aim that the current cash position and expected revenues from evaluation agreements will be sufficient until mid 2025 and enable significant value-creating progress in prioritized collaborations and the proprietary project NEX-22.

Significant events after the end of the period

  • No significant event after the end of the period.

Summary of the reporting period 1 October – 31 December 2023

  • Turnover amounted to: TSEK 6,816 (819)
  • Operating profit (EBIT) amounted to: SEK -51,367 (-17,869)
  • Profit after tax amounted to: TSEK -51,150 (-17,932)
  • Earnings per share amounted to: SEK -0.52 (-0.35)
  • Cash flow for the period amounted to: TSEK 44,599 (35,574)
  • Cash and cash equivalents at end of period: TSEK 65,168 (81,182)

Summary of the reporting period 1 January – 31 December 2023

  • Turnover amounted to: TSEK 29,327 (2,860)
  • Operating profit (EBIT) amounted to: TSEK -76,625 (-57,981)
  • Profit after tax amounted to: TSEK -76,398 (-58,571)
  • Earnings per share amounted to: SEK -1.09 (-1.16)
  • Cash flow for the period amounted to: TSEK -16,014 (-24,478)
  • Cash and cash equivalents at end of period: TSEK 65,168 (81,182)
  • The Board of Directors proposes that no dividend is paid for the fiscal year 2023.

Figures in brackets refer to the corresponding period in the previous year.

The entire report is available on the company’s website: https://nanexa.com/en/financial-reports/.

Report commentary, February 21 at 11:30am CET
A live commentary with CEO David Westberg and CFO Björn Svanström will take place on February 21 at 11:30am via Infront Direkt Studios and viewers will have the opportunity to ask questions via chat. The presentation will be held in Swedish.

The report commentary will be available via this link.
The report comment will also be published on Nanexa's website afterwards.

For additional information, please contact:

David Westberg – CEO, Nanexa AB (publ) 
Phone: +46 70 942 83 03
Email: david.westberg@nanexa.se
www.nanexa.com

The company’s Certified Adviser is Carnegie Investment Bank AB (publ).

About Nanexa AB (publ)

Nanexa is a pharmaceutical company developing injectable drug products based on the proprietary and innovative drug delivery system PharmaShell® – the high drug load delivery system enabling the next generation long-acting injectables through atomic layer precision. Nanexa develops its own products and also has collaboration agreements with several pharma companies, among others Novo Nordisk and AstraZeneca.

Nanexa’s share is listed on Nasdaq First North Growth Market in Stockholm (NANEXA).

This information is information that Nanexa is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-02-21 08:00 CET.

Attachments

Nanexa Year End Report 2023

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