Year-end report July 1, 2021 – June 30, 2022
30 August, 2022
Summary of the fourth quarter (2022-04-01 – 2022-06-30)
- Net sales amounted to MSEK 0,0 (0,0)
- Operating profit/loss amounted to MSEK -2,1 (-1,5)
- Earnings per share* SEK -0.11 (-0.10)
* Before and after dilution. Earnings per share: Profit for the period divided by the average number of shares 18,485,857. For the comparison period, the average number of shares was 14,920,478. Amounts in brackets refer to the corresponding period last year.
Summary of the financial year (2021-07-01 – 2022-06-30)
- Net sales amounted to MSEK 0,0 (0,0)
- Operating profit/loss amounted to MSEK -5,3 (-6,1)
- Earnings per share* SEK -0.31 (-0.41)
- Cash and cash equivalents at the end of the period amounted to MSEK 35,5 (3,5)
* Before and after dilution. Earnings per share: Profit for the period divided by the average number of shares 16,790,364. For the comparison period, the average number of shares was 14,920,478. Amounts in brackets refer to the corresponding period last year.
CEO’s comment
The clinical myeloma study with the Company’s drug candidate OsteoDex, which was financed via a rights issue in December 2021 that brought the company SEK 37 million after issue costs, continues according to plan. The study application to the Swedish Medicines Agency has now been approved and permission was announced on August 10, 2022. The study will include 20 patients and will be conducted at 5 hospital centers in Sweden and Norway. The study is estimated to start during quarter 1 2023 at the latest and is estimated to be completed during quarter 3 2024.
Our previous preclinical studies regarding OsteoDex’s effect on various myeloma cell cultures clearly show a strong tumor cell-killing effect. With our clinical experience of OsteoDex’s effect on disease processes in the skeleton (mCRPC), we have reason to be optimistic about the myeloma study.
At the extraordinary general meeting on 11 May, Andreas Segerros was elected to the board and was appointed chairman of the board on the same day. Andreas Segerros has long and solid experience with executive positions within the international pharmaceutical industry in Europe, the USA and Japan. Andreas Segerros will be a key person in the Company’s continued development, this in perspective of his previous experience and associated network.
Anders R Holmberg
CEO