STOCKHOLM, SWEDEN / ACCESSWIRE / April 25, 2024 / AlzeCure Pharma (STO:ALZCUR)(FRA:AC6) AlzeCure Pharma AB (publ) (FN STO:ALZCUR) today announced that its interim report for the period January - March 2024 is now available on the company's website: www.alzecurepharma.com/en/section/investors/financial-reports/
"The first quarter of 2024 was positive and active for AlzeCure Pharma. In our clinical Alzheimer's program, NeuroRestore ACD856, we presented new preclinical data supporting neuroprotective and disease-modifying effects at the major international Alzheimer's conference AD/PD 2024. In addition, we had patents for NeuroRestore and ACD856 approved in China and several other countries, which strengthens our business development opportunities. During the quarter, we also selected a drug candidate in our pain project for treatment of knee osteoarthritis, TrkA-NAM. Our research and development was also further recognized by a government and ministerial visit, as well as by an investment by Eli Lilly's former global head of research and development, Dr. Jan Lundberg, who was also global head of research for AstraZeneca. He has also made himself available for a position on the company's Board of Directors, which is supported by the nomination committee. To finance the further development of the above-mentioned drug candidates, and to strengthen the company's financial position, the Board of Directors proposed during the quarter a rights issue of approximately SEK 52.8 million. It is both motivating and gratifying that the company is keeping up the pace as it continues to deliver new data that strengthen our position, and that we are receiving increasing recognition from external parties."
Martin Jönsson, CEO
Financial information for January - March, 2024
Figures in parentheses refer to the corresponding period of the previous year.
- Net sales during the period totaled SEK 0 thousand (0).
- Loss for the period totaled SEK -9,804 thousand (-9,545).
- Earnings per share, basic, totaled SEK -0.16 (-0.15).
- Cash flow from operating activities totaled SEK -10,063 thousand (28,095).
- Total assets at the end of the period amounted to SEK 22,688 thousand (57,974).
- Cash and cash equivalents at the end of the period totaled SEK 19,037 thousand (53,718).
Significant events during the period January - March, 2024
- On January 29, the company selects a drug candidate and enters the next phase of development with TrkA-NAM ACD137 for the treatment of osteoarthritis and other severe pain conditions.
- On February 29, the company announces that the patent offices in China, India, South Africa, Israel, Hong Kong and Mexico have granted patents covering the company's clinical drug candidate ACD856, which is being developed for Alzheimer's and other cognitive disorders.
- On March 26, the company's Board of Directors resolved on a new issue of shares of approximately SEK 52.8 million with preferential rights for existing shareholders. The Rights Issue is subject to approval by the Extraordinary General Meeting on April 25, 2024. The issue is guaranteed to approximately 63 percent through subscription commitments and guarantee commitments from existing owners and members of the company's management and Board of Directors, among others. To enable further capital injections, the Board of Directors may also exercise an overallotment option of up to approximately SEK 15.0 million.
- On March 26, the company announces that an Extraordinary General Meeting will convene on April 25, 2024.
Significant events after the end of the period
- On April 10, the company announces that its Annual General Meeting will convene on May 14, 2024.
- On April 10, the company announces that Dr. Jan Lundberg, former head of research at Eli Lilly and AstraZeneca, is investing in AlzeCure and proposes that he be elected to serve on the company's Board of Directors.
The full report is attached as PDF and is available on the company's website: www.alzecurepharma.com/en/section/investors/financial-reports/
For more information, please contact
Martin Jönsson, CEO
Tel: +46 707 86 94 43
martin.jonsson@alzecurepharma.com
About AlzeCure Pharma AB (publ)
AlzeCure® is a Swedish pharmaceutical company that develops new innovative drug therapies for the treatment of severe diseases and conditions that affect the central nervous system, such as Alzheimer's disease and pain - indications for which currently available treatment is very limited. The company is listed on Nasdaq First North Premier Growth Market and is developing several parallel drug candidates based on three research platforms: NeuroRestore®, Alzstatin® and Painless.
NeuroRestore consists of two symptomatic drug candidates where the unique mechanism of action allows for multiple indications, including Alzheimer's disease, as well as cognitive disorders associated with traumatic brain injury, sleep apnea and Parkinson's disease, as well as for depression treatment. The Alzstatin platform focuses on developing disease-modifying and preventive drug candidates for early treatment of Alzheimer's disease and comprises two drug candidates. Painless is the company's research platform in the field of pain and contains two projects: ACD440, which is a drug candidate in the clinical development phase for the treatment of neuropathic pain, and TrkA-NAM, which targets severe pain in conditions such as osteoarthritis. AlzeCure aims to pursue its own projects through preclinical research and development through an early clinical phase, and is continually working on business development to find suitable outlicensing solutions, alternatively partnership, with other pharmaceutical companies.
FNCA Sweden AB is the company's Certified Adviser. For more information, please visit www.alzecurepharma.se.
Attachments
Alzecure Q1 2024 ENG
SOURCE: AlzeCure Pharma
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