"We have excellent opportunities before us, and we remain focused on delivering patient, company and shareholder value," said Torbjørn Bjerke, CEO.
October - December 2023
- The Group's net sales amounted to SEK 0 (0) thousand.
- Operating expenses amounted to SEK 91,062 (30,523) thousand, an increase of 198%.
- The Group's loss after tax amounted to SEK 90,543 (30,477) thousand.
- The Group's earnings per share before and after dilution amounted to SEK -2.58 (-1.06).
- Cash flow from operating activities amounted to SEK -20,395 (-22,306) thousand.
- Cash flow from financing activities amounted to SEK 54,561 (76,025) thousand.
- Cash flow for the period amounted to SEK 34,166 (53,747) thousand.
- Cash and cash equivalents at the end of the period amounted to SEK 62,395 (108,245) thousand.
January - December 2023
- The Group's net sales amounted to SEK 0 (0) thousand.
- Operating expenses amounted to SEK 224,496 (105,705) thousand, an increase of 112%, driven primarily by the two clinical studies in RA and higher administrative costs caused by the acquisition of TXP and write down of goodwill.
- The Group's loss after tax amounted to SEK 215,810 (99,205) thousand.
- The Group's earnings per share before and after dilution amounted to SEK -6.64 (-3.60).
- Cash flow from operating activities amounted to SEK -100,177 (-117,555) thousand.
- Cash flow from financing activities amounted to SEK 53,984 (200,712) thousand.
- Cash flow for the period amounted to SEK -45,823 (83,184) thousand
Significant events during the period
- Oct 3 - SynAct announces additional data from the EXPAND P2b clinical trial further supporting efficacy and activity seen in patients with elevated CRP.
- Oct 11 - SynAct carries out a directed issue of shares and warrants raising initial gross proceeds of SEK 60.5 million.
- Oct 12 - SynAct publishes prospectus in connection with admission to trading of new shares on Nasdaq Stockholm.
- Oct 31 - Change in number of shares and votes in SynAct Pharma. As of October 31, 2023, the total number of shares and votes in SynAct Pharma AB amounts to 35,570,980.
- Nov 1 - SynAct announces evaluation of the 4-week RESOLVE P2a clinical trial in moderate to severely active rheumatoid arthritis patients with an incomplete response to methotrexate.
Significant events after the end of the period
- Jan 28 - The Board of Directors of SynAct Pharma AB has
- received a request to convene an EGM
- Jan 30 - SynAct expands its Rheumatology Clinical Advisory Board with three new highly experienced advisors.
- Feb 1 - SynAct appoints Kirsten Harting as Chief Medical Officer.
- Feb 7 - Notice of extraordinary general meeting in SynAct Pharma AB. Upon request by >10% of the shareholders, an extra general meeting has been set to March 20, 2024.
- Feb. 22 - SynAct announces additional data from the EXPAND P2b clinical trial supporting continued development of the compound in rheumatoid arthritis.
For further information about SynAct Pharma AB, please contact:
Torbjørn Bjerke
CEO, SynAct Pharma AB
Phone: +46 727 44 41 58
Email: TBJE@synactpharma.com
Email: investor.relations@synactpharma.com
Björn Westberg
CFO, SynAct Pharma AB
Phone: +46 703 33 91 23
Email: BWE@synactpharma.com
About SynAct Pharma AB
SynAct Pharma AB (Nasdaq Stockholm: SYNACT) is a clinical stage biotechnology company focused on the resolution of inflammation through the selective activation of the melanocortin system. The company has a broad portfolio of oral and injectable selective melanocortin agonists aimed at inducing anti-inflammatory and inflammation resolution activity to help patients achieve immune balance and overcome their inflammation. For more information: www.synactpharma.com.
