STOCKHOLM, SWEDEN - 20 November 2024: Modus Therapeutics Holding AB ("Modus Therapeutics") hereby publishes an interim report for the third quarter 2024. 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 third quarter has been marked by significant progress in our clinical pipeline, with a particular focus on our Phase 2a study for chronic kidney disease with anemia. The approval by the Italian regulatory authorities represents a strong opportunity to demonstrate sevuparin's potential for this patient group. Our dedicated team is fully committed to advancing this study, with the ambition to deliver initial results during the first half of 2025. This progress has been further supported by secured bridge financing, which contributes to the maintained momentum in achieving our strategic milestones."
The third quarter in figures
- The loss after tax amounted to TSEK 2 989 (3 093).
- The loss per share amounted to SEK 0,08 (0,19).
- The cash flow from current operations was negative in the amount of TSEK 3 971 (2 955).
The first 9-months in figures
- The loss after tax amounted to TSEK 10 831 (13 828).
- The loss per share amounted to SEK 0,30 (0,86).
- The cash flow from current operations was negative in the amount of TSEK 11 061 (13 557).
Important events during the third quarter
- Board Member Torsten Goesch passed away.
- Extraordinary General Meeting in Modus Therapeutics Holding AB held on September 27.
- Modus Therapeutics attended NLS Malmö, Sweden.
- Modus Therapeutics attended LSX, Copenhagen Denmark.
Important events after the end of the period
- Modus Therapeutics attended BioEurope Stockholm, Sweden.
- Modus Therapeutics receives a recruitment update for Malaria study.
- Modus Therapeutics receives approval to initiate a phase IIa clinical trial for chronic kidney disease (CKD).
- Modus Therapeutics secures access to bridge financing from Karolinska Development.
CEO John Öhd will provide comments on the report in an interview with Jonathan Furelid on November 20 at 14:00. Link to Interview: https://www.youtube.com/live/kp_Bs0okDyE'si=yfCFdJ8Z3vKaYKUu
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 2024-11-20 08:00 CET.
Certified Adviser
Svensk Kapitalmarknadsgranskning AB
Website: www.skmg.se
About Modus Therapeutics and sevuparin
Modus is a Swedish biotechnology company that is developing its proprietary polysaccharide sevuparin as a potential treatment for several major healthcare needs including sepsis, endotoxemia, severe malaria 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.
