SynAct Pharma AB: SynAct Pharma Year-end Report 2024

SynAct Pharma AB (publ) ("SynAct") today announced its Year-end Report 2024.

"SynAct Pharma was running at full speed during the fourth quarter. The team has done a fantastic job ensuring our Phase 2b ADVANCE study in patients with newly diagnosed severe rheumatoid arthritis (RA) was ready to start recruiting patients, while we also worked with investors to bring in new funding and build relationships for the company's future growth."

Jeppe Øvlesen
Chief Executive Officer and Board Member

Fourth quarter 2024 (October - December)

• The Group's net sales amounted to SEK 0 (0) thousand.
• Operating expenses amounted to SEK 20,797 (91,062) thousand, a decrease of 77%.
• The Group's loss after tax amounted to SEK 18,379 (90,543) thousand.
• The Group's earnings per share before and after dilution amounted to SEK -0.44 (-2.58). Cash flow from operating activities amounted to SEK -17,779 (-20,395) thousand.
• Cash flow from financing activities amounted to SEK 40,199 (54,561) thousand.
• Cash flow for the period amounted to SEK 22,420 (34,166) thousand.
• Cash and cash equivalents at the end of the period amounted to SEK 61,209 (62,395) thousand.

Twelve months 2024 (January - December)

• The Group's net sales amounted to SEK 0 (0) thousand.
• Operating expenses amounted to SEK 89,980 (224,496) thousand, a decrease of 60%.
• The Group's loss after tax amounted to SEK 82,401 (215,810) thousand.
• The Group's earnings per share before and after dilution amounted to SEK -2.08 (-6.64).
• Cash flow from operating activities amounted to SEK -89,197 (-100,177) thousand.
• Cash flow from financing activities amounted to SEK 87,405 (53,984) thousand.
• Cash flow for the period amounted to SEK -1,792 (-45,823) thousand.

Significant events during the fourth quarter

• Nov 14 - SynAct Pharma presents positive clinical data on resomelagon (AP1189) supporting development for the treatment of RA at ACR Convergence.
• Nov 20 - SynAct Pharma intends to carry out directed issues totalling approximately 45 MSEK and a fully guaranteed rights issue totalling approximately 20 MSEK, and gives notice of extraordinary general meeting on December 13, 2024.
• Nov 27 - SynAct Pharma receives EU trial approval for the Phase 2b ADVANCE study with resomelagon (AP1189).
• Dec 17 - SynAct Pharma AB publishes prospectus in connection with admission to trading of new shares on Nasdaq Stockholm and announces the outcome of the directed share issues, on approximately 45 MSEK.
• Dec 30 - Change in number of shares and votes in SynAct Pharma AB. As of December 30, 2024, the total number of shares and votes in SynAct Pharma AB amounts to 46,487,467.

Significant events after the end of the period

• Jan 9 - SynAct Pharma AB announces the outcome of the rights issue on approximately 20 MSEK.
• Jan 31 - Change in number of shares and votes in SynAct Pharma AB. As of January 31, 2025, the total number of shares and votes in SynAct Pharma AB amounts to 49,008,918.

For further information about SynAct Pharma AB, please contact:
Jeppe Øvelsen
CEO, SynAct Pharma AB
Phone: [phone]
E-mail: [e-mail]

Björn Westberg
CFO, SynAct Pharma AB
Phone: [phone]
E-mail: [e-mail]

About SynAct Pharma AB
SynAct Pharma AB (publ) (Nasdaq Stockholm: SYNACT) is a clinical stage biotechnology company focused on resolving inflammation through 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 anti-inflammatory activity in autoimmune and inflammatory diseases to help patients achieve immune balance and overcome their inflammation. For more information: www.synactpharma.com.

This information is information that SynAct Pharma 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 2025-02-18 07:30 CET.