PRESS RELEASE
May 24, 2018
Financial highlights
Q1 2018 (Q1 2017)
- Net revenues were SEK 4.3 M (7.5 M)
- EBIT was SEK -15.7 M (-7.6 M)
- Net profit/loss was SEK -13.5 M (-6.4 M)
- Earnings per share were SEK -0.62 (-0.31)
- Diluted earnings per share were SEK -0.62 (-0.31)
Business highlights in Q1 2018
- Saniona reported top line results from the Tesomet Phase 2a interim study in Prader-Willi syndrome, indicating clinical meaningful reduction in weight and hyperphagia
- Saniona's partner, Medix, completed the recruitment of 272 patients in a Phase 3 study for tesofensine in obesity
- Saniona initiated and completed recruitment of 60 volunteers in a Phase 1 study with the new Tesomet tablet
- Saniona's partner Cadent Therapeutics initiated a Phase 1 trial for CAD-1883 for the treatment of spinocerebellar ataxia and essential tremor
- Saniona and Proximagen (now BenevolentAI) extended the research collaboration
- In January, the extraordinary shareholders' meeting resolved to elect J. Donald deBethizy and Anna Ljung as new ordinary Board members and to elect J. Donald deBethizy as new chairman of the Board of Directors.
Significant events after the reporting period
- Saniona progressed to second part of Phase 2a study for Tesomet in Prader-Willi Syndrome based on positive results in adult patients
- Saniona gained full rights to BenevolentAI program following termination of collaboration
Comments from the CEO
"The positive results from the Tesomet Phase 2a interim study in Prader-Willi syndrome is highly encouraging. We are preparing the second part of the study now and are committed to develop Tesomet internally with the aim of attaining market approval in this indication. This will increase the value of the project significantly for our shareholders", says Jørgen Drejer, CEO of Saniona.
Read the complete Interim Report attached below.
For more information, please contact
Thomas Feldthus, EVP and CFO, Saniona, Mobile: +45 2210 9957, E-mail: tf@saniona.com
The information was submitted for publication, through the agency of the contact person set out above, at 08:00 a.m. CEST on May 24, 2018.
About Saniona
Saniona is a research and development company focused on drugs for diseases of the central nervous system, autoimmune diseases, metabolic diseases and treatment of pain. The company has a significant portfolio of potential drug candidates at pre-clinical and clinical stage. The research is focused on ion channels, which makes up a unique protein class that enables and controls the passage of charged ions across cell membranes. Saniona has ongoing collaboration agreements with Boehringer Ingelheim GmbH, Productos Medix, S.A de S.V and Cadent Therapeutics Inc. Saniona is based in Copenhagen, Denmark. The company is listed at Nasdaq Stockholm Small Cap and has about 5,300 shareholders. The company's share is traded under the ticker SANION. Read more at www.saniona.com.
Attachment
- 20180524 - Saniona Q1 Report 2018 - UK (https://prlibrary-eu.nasdaq.com/Resource/Download/5d7fb897-82e4-432d-a648-eeef6032ccf9)
