AlzeCure publishes its interim report for January - June 2020

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AlzeCure Pharma AB

25 Aug, 2020, 06:30 GMT

STOCKHOLM, Aug. 25, 2020 /PRNewswire/ -- AlzeCure Pharma AB (publ) (STO: ALZCUR) today announced that its interim report for the period January - June 2020 is now available on the company's website:  https://www.alzecurepharma.se/en/section/investors/financial-reports/

"With yet another eventful quarter behind us we can conclude that AlzeCure's operations are progressing well and according to plan, with continued advances in all of our three project platforms: NeuroRestore, Alzstatin and Painless. One important milestone that we achieved is the conclusion of a clinical trial for the NeuroRestore project ACD856, with positive results. We also presented promising preclinical data for the compound during the quarter. We continue to pursue our previously communicated primary objectives, which remain unaffected by the COVID-19 situation."

- Martin Jönsson, CEO

Financial information for April - June, 2020

Figures in parentheses refer to the corresponding period of the previous year.

  • Net sales during the period totaled SEK 0 thousand (0).
  • Earnings for the period totaled SEK -18,407 thousand (-10,255).
  • Earnings per share, basic, totaled SEK -0.49 (-0.27).
  • Total assets at the end of the period amounted to SEK 160,057 thousand (215,418).
  • Cash and cash equivalents at the end of the period totaled SEK 153,325 thousand (210,315).

Financial information for January - June, 2020

Figures in parentheses refer to the corresponding period of the previous year

  • Net sales during the period totaled SEK 0 thousand (0).
  • Earnings for the period totaled SEK -32,191 thousand (-21,841).
  • Earnings per share, basic, totaled SEK -0.85 (-0.58).
  • Total assets at the end of the period amounted to SEK 160,057 thousand (215,418).
  • Cash and cash equivalents at the end of the period totaled SEK 153,325 thousand (210,315).

Significant events during the period January - March, 2020

  • In January, the company in-licensed a new project, ACD440, which focuses on neuropathic pain and is in the clinical development phase.
  • Martin Jönsson was appointed to serve as the new Chief Executive Officer on January 8, 2020. Martin has worked in the global pharmaceutical industry for more than 20 years, with extensive experience from various executive positions at both Ferring Pharmaceutical and Roche.
  • Johan Sandin was appointed to serve as CSO in January, which enables him to dedicate all of his time to research and development.
  • An van Es Johansson joined the management group in March as Head of Development & Chief Medical Officer and thereby stepped down from the Board of Directors. This arrangement further strengthens the company in a period when it is preparing to increase the number of clinical trials, in line with previously announced plans.

Significant events during the period April - June, 2020

  • On April 2, the company presented a "late-breaking abstract" at the Advances in Alzheimer's and Parkinson's Therapies (AAT-AD/PD) conference. Dr. Pontus Forsell, Head of Discovery, and lead author of the study, gave an oral presentation entitled ACD856 a positive modulator of neurotrophin signaling reverses scopolamine- or age-induced cognitive deficits. The preclinical study showed that treatment with ACD856 resulted in potent memory enhancement in older subjects.
  • On June 4, the company presented positive data from the first clinical trial with ACD856, which showed that ACD856 has a good pharmacokinetic profile with a significantly shorter human half-life in humans than its predecessor, ACD855, and that the candidate is suitable for further clinical development as oral treatment of conditions such as Alzheimer's disease.

Significant events after the end of the period

  • No significant events have taken place since the end of the interim period.

Read the full report at: https://www.alzecurepharma.se/en/section/investors/financial-reports/ 

The information was submitted for publication, through the agency of the contact person set out below at 08.00 am CET on August 25, 2020. 

For more information, please contact:
Martin Jönsson, CEO
Tel: +46 (0)70-786 94 43
E-mail: 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 extremely 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 three 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. Alzstatin comprises two disease-modifying and preventive drug candidates for early treatment of Alzheimer's disease. Painless is the company's research platform in the field of pain and contains two projects: ACD440, which is a clinical candidate 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 to an early clinical phase.

FNCA Sweden AB, +46(0)8 528 00 399 info@fnca.se, is the company's Certified Adviser. For more information, please visit www.alzecurepharma.se .

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