STOCKHOLM, SWEDEN - 23 August 2023: Modus Therapeutics Holding AB ("Modus Therapeutics") hereby publishes an interim report for the second quarter 2023. The report is available as an attached document and on the company's website (www.modustx.com). Below is a summary of the interim report.
John Öhd, Modus Therapeutics' CEO, commented: "The second quarter of 2023 was very productive for Modus and saw us make great progress in delivering on the broad clinical potential of sevuparin. We have continued to move forward with the planned clinical development of sevuparin for the treatment of sepsis, based on the positive initial clinical data that we have generated. In parallel, we have produced a compelling data set that highlights sevuparin's potential in a new, and large opportunity, anemia related to chronic inflammation and kidney disease. This progress means we have significantly increased the potential value that we could generate from sevuparin while at the same time giving us greater control and optionality in how we develop the business. The next 12 months promise to be an exciting time for Modus Therapeutics, and I am looking forward to the future with great confidence."
The second quarter in figures
- The loss after tax amounted to TSEK 4 695 (2 992).
- The loss per share amounted to SEK 0,29 (0,19).
- The cash flow from current operations was negative in the amount of TSEK 4 267 (3 228).
The first half-year in figures
- The loss after tax amounted to TSEK 10 735 (6 057).
- The loss per share amounted to SEK 0,67 (0,38).
- The cash flow from current operations was negative in the amount of TSEK 10 602 (10 773).
Important events during the second quarter
- Modus Therapeutics participated in LSX, London.
- The annual general meeting was held on May 11.
- Modus Therapeutics presented new data on sevuparin demonstrating its potential to treat anemia related to chronic inflammation and kidney disease at the annual European Hematology Association Congress.
Important events after the end of the period
No events to report.
CEO John Öhd will provide comments on the report in an interview with Jonathan Furelid today August 23 at 14:00 Link to Interview: https://www.youtube.com/watch?v=EqOVbiRP5iY
For more information on Modus Therapeutics, please contact:
John Öhd, CEO, Modus Therapeutics
Phone: +46 (0) 70 766 80 97
Email: john.ohd@modustx.com
This information is information that Modus Therapeutics Holding AB 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 2023-08-23 08:00 CEST.
Certified Adviser
Svensk Kapitalmarknadsgranskning AB
Website: www.skmg.se
About Modus Therapeutics and sevuparin
Modus Therapeutics is a Swedish biotechnology company headquartered in Stockholm is developing its proprietary polysaccharide sevuparin as a potential treatment for several major healthcare needs including sepsis/septic shock and other disorders with severe systemic inflammation as well as states of anemia, related to chronic inflammation such as kidney disease. There is a great need for new treatments that can effectively treat these conditions. Modus' ambition is to create a paradigm shift in the care of these diseases, where sevuparin could provide therapeutic benefits. Modus Therapeutics is listed on the Nasdaq First North Growth market ("MODTX"). More information is available at www.modustx.com.
Sevuparin is a clinical stage, innovative proprietary polysaccharide drug with a multimodal mechanism of action, including immunomodulating, anti-adhesive and anti-aggregate effects. Sevuparin is a heparinoid with markedly attenuated anti-coagulation features that allows severalfold higher doses to be given, compared to regular heparinoids, without the associated risk for bleeding side-effects. Two routes of administration of sevuparin are currently being tested - an IV formulation for in-patient administration and a subcutaneous formulation that allows ambulatory and home care administration.
