EVENTS DURING THE FOURTH QUARTER
- European Patent Office granted Active Biotech's patent application for eye drop formulation of laquinimod (October 23)
- Active Biotech's clinical trial of tasquinimod in myelofibrosis was approved in Europe (October 30)
- Preclinical data of tasquinimod in myelofibrosis was presented at ASH 2024 (November 5)
- Active Biotech announced a patent for laquinimod in eye disorders will be granted in the US (November 13)
- Active Biotech announced the company raises SEK 43.4 million in substantially oversubscribed rights issue including exercise of over-allotment option (November 18)
OTHER SIGNIFICANT EVENTS JAN-DEC 2024
- Start of enrollment to the clinical phase I biodistribution study with laquinimod eye drops (April 3)
- Active Biotech acquired exclusive rights to patents of tasquinimod in combination therapy in multiple myeloma (May 22)
- Clinical activity and safety of naptumomab and docetaxel in non-small cell lung cancer were presented at ASCO 2024 (May 28)
- Active Biotech entered agreement with MD Anderson for a clinical study of tasquinimod in myelofibrosis (July 1)
- Active Biotech provided an update on the clinical phase Ib/IIa study with tasquinimod in relapsed refractory multiple myeloma (July 15)
- Active Biotech reported intriguing intraocular concentrations achieved in a clinical biodistribution study of laquinimod eye drops (September 10)
- Active Biotech announced a rights issue (September 23)
EVENTS AFTER THE END OF THE PERIOD
- US Patent Office granted Active Biotech's patent application for laquinimod in eye disorders (January 28)
FINANCIAL SUMMARY
| SEK M | Oct-Dec | Jan-Dec | ||
| 2024 2023 | 2024 2023 | |||
| Net sales | - | - | - | - |
| Operating profit/loss | -10.3 | -12.8 | -39.8 | -46.5 |
| Profit/loss after tax | -10.2 | -12.5 | -39.4 | -45.8 |
| Earnings per share (SEK) | -0.02 | -0.04 | -0.09 | -0.17 |
| Cash and cash equivalents (at close of period) | 27.4* | 36.2 | ||
*excludes SEK 8.2 million in issue proceeds received by the company in January 2025
The report is also available at www.activebiotech.com
The information was submitted for publication, through the agency of the contact persons set out below, at 2025-02-13 08.30 CEST.
Active Biotech AB (Corp. reg. no. 556223-9227) / Scheelevägen 22, SE-223 63 Lund / +46 (0)46 19 20 00
For further information, please contact:
Helén Tuvesson, CEO, +46 46 19 21 56, helen.tuvesson@activebiotech.com
Hans Kolam, CFO, +46 46 19 20 44, hans.kolam@activebiotech.com
About Active Biotech
Active Biotech AB (publ) (NASDAQ Stockholm: ACTI) is a biotechnology company that develops first-in-class immunomodulatory treatments for oncology and immunology indications with a high unmet medical need and significant commercial potential. Active Biotech currently holds three projects in its portfolio, of which tasquinimod and laquinimod are wholly owned small molecule immunomodulators with a mode of action that includes modulation of myeloid immune cell function. The projects are in clinical development for hematological malignancies and inflammatory eye disorders, respectively. The company's core focus is on the development of tasquinimod in myelofibrosis, a rare blood cancer, where clinical proof-of-concept studies has been initiated. Also ongoing is a clinical Phase Ib/IIa study in multiple myeloma. Laquinimod is in clinical development for the treatment of non-infectious uveitis. A clinical phase I program with a topical ophthalmic formulation is ongoing to support phase II development together with a partner. The third pipeline project is naptumomab, a targeted anti-cancer immunotherapy, partnered to NeoTX Therapeutics, which is in a phase Ib/II clinical program in patients with advanced solid tumors. Please visit www.activebiotech.com for more information.
