Active Biotech AB Year-end report January - December 2017

Thursday, February 15, 2018 7:31 AM UTC

Fourth quarter in brief

The primary clinical endpoint was not met in the Phase II study (ARPEGGIO) with laquinimod in PPMS
Patent regarding tasquinimod for the treatment of acute leukemia granted in Europe
The process to divest the company's property in Lund is ongoing
On December 7, the company announced that funding for the next 12 month period was not guaranteed. See further below "Events after the end of the period" relating to a new share issue

Other significant events during the January-December period

Patent regarding tasquinimod for the treatment of multiple myeloma (MM) granted in Europe
FDA granted orphan drug status for tasquinimod for the treatment of MM.
The primary clinical endpoint in the Phase III study of laquinimod in RRMS (CONCERTO) was not met. The secondary endpoints were met in line with previous studies
Helén Tuvesson was appointed CEO of Active Biotech
The first product patent in the SILC project was granted in the US
The decision was taken to discontinue the company's laboratory animal facility in Lund
The Phase II study of laquinimod in Huntington's disease (LEGATO-HD) is ongoing. Results are expected in the second half of 2018
The ANYARA project is proceeding, with planned start of clinical studies in the second half of 2018
Out-licensing activities are continuing for the tasquinimod, SILC and paquinimod projects

Events after the end of the period

The Board of Directors proposes a new share issue of approximately MSEK 48, with pre-emptive rights for the shareholders. An extraordinary general meeting to be held on March 19, 2018
In connection with the new share issue, the company has received a permanent waiver from its commitment to the bank that finances the company's property in Lund that the company's liquidity should never fall below MSEK 30
The company again has funding for the coming 12 month period
Patent application regarding tasquinimod for the treatment of MM allowed in the US
Application for the second product patent in the SILC project allowed in the US

Financial summary

SEK M	Oct.-Dec.			Jan.-Dec.
	2017	2016	2017		2016

Net sales	5.4	7.1	20.2		19.0
Operating loss	*-58.4	-13.5	*-102.5		-55.1
Loss after tax	*-60.1	-14.8	*-108.8		-59.6
Earnings per share (SEK)	-0.62	-0.16	-1.12		-0.65
Cash and cash equivalents (at close of period)			25.2		77.7

*of which write down of property SEK 50 M

For further information, please contact:

Helén Tuvesson, CEO
Tel: +46 (0)46-19 21 56

Hans Kolam, CFO
Tel: +46 (0)46 19 20 44

Active Biotech AB
(Corp. Reg. No. 556223-9227)
Box 724, SE-220 07 Lund
Tel: +46 (0)46-19 20 00

The report is also available at www.activebiotech.com.

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