"The need for new alternatives to PPIs is evident as PCABs are making great progress worldwide," said Christer Ahlberg, CEO of Cinclus Pharma.
Financial Summary, July - September 2024
- Net sales amounted to 0 (0) TSEK.
- Operating profit (EBIT) amounted to -39,148 (-62,070) TSEK.
- The result for the period was -36,547 (-61,951) TSEK and earnings (loss) per share before and after dilution were -0.79 (-2.36) SEK.
- Total cash flow for the period amounted to -40,470 (43,404) TSEK.
- Cash and cash equivalents at the end of the period amounted to 644,264 (87,972) TSEK.
Financial Summary, January - September 2024
- Net sales amounted to 0 (5,959) TSEK.
- Operating profit (EBIT) amounted to -112,750 (-161,221) TSEK.
- The result for the period was -113,772 (-170,977) TSEK and earnings (loss) per share before and after dilution were -3.36 (-6.52) SEK.
- Total cash flow for the period amounted to 556,030 (-22,855) TSEK.
- Cash and cash equivalents at the end of the period amounted to 644,264 (87,972) TSEK.
Significant events during the period July - September 2024
- During July 1, 11 and 19, stabilization purchases of Cinclus Pharma's share were made in accordance with the mandate of over-allotment option granted to Carnegie Investment Bank AB. On July 19, it was announced that the over-allotment option had not been exercised.
- On July 29, Cinclus Pharma announced that Swiss-based global company PSI CRO will serve as the clinical research organization (CRO) for the phase III program of the Company's lead drug candidate, linaprazan glurate, for the treatment of eGERD.
- Cinclus Pharma announced on September 24 that the results of a Phase I study of the acid suppression effect of Cinclus Pharma's PCAB linaprazan glurate will be presented at the leading congress United European Gastroenterology Week (UEG) October 12 - 15, 2024.
- On September 30, the company announced that the manufacturing of the Investigational Medicinal Product (IMP), to be used for the company's upcoming phase III study of linaprazan glurate for eGERD, has been successfully completed. Thus, the company is following its time plan for recruiting the first patient in 2025.
Significant events after the end of the period
- On October 12, linaprazan glurate was presented at UEG, United European Gastroenterology Week.
- On October 29, it was announced that EMA and Cinclus Pharma are in agreement regarding the paediatric study plan for eGERD.
PRESENTATION OF THE INTERIM REPORT
A webcast will be held on November 14, 2024, at 10:00 via Inderes. Link to the event
https://financialhearings.com/event/51345
For additional information, please contact:
Christer Ahlberg, CEO
Phone: +46 70 675 33 30
e-mail: christer.ahlberg@cincluspharma.com
Charlotte Stjerngren, IR
Phone: +46 70 876 87 87
e-mail: charlotte.stjerngren@cincluspharma.com
About Cinclus Pharma
Cinclus Pharma Holding AB (publ) is a late-stage clinical pharmaceutical company developing drugs for the treatment of acid-related diseases and disorders of the upper gastrointestinal tract. The company's leading drug candidate is linaprazan glurate, a prodrug of P-CAB linaprazan, which was originally developed by AstraZeneca. Linaprazan glurate has the potential to heal erosions in the esophageal mucosa and relieve symptoms of gastroesophageal reflux disease (GERD) more effectively than current treatments like proton pump inhibitors (PPI). The safety and efficacy of linaprazan and linaprazan glurate have been documented in over 30 phase I and two phase II studies involving more than 3,000 participants. Planning for phase III studies is currently underway, with an expected start in 2025. GERD affects approximately 133 million adults in the US and EU, and there is a significant need for new drugs to treat the most severe cases: around 10 million patients. Linaprazan glurate is developed to meet these needs. For more information, visit www.cincluspharma.com.
