AlzeCure publishes its interim report for January - September 2020
STOCKHOLM, Nov. 17, 2020 /PRNewswire/ -- AlzeCure Pharma AB (publ) (FN STO: ALZCUR) today announced that its interim report for the period January - September 2020 is now available on the company's website: https://www.alzecurepharma.se/en/section/investors/financial-reports/
"AlzeCure has had another productive quarter during which its operations progressed according to plan, with advances in all three of our project platforms: NeuroRestore, Alzstatin and Painless. Preparations to begin two additional clinical trials at the end of the year for the drug candidates ACD856 and ACD440 are proceeding according to plan."
Martin Jönsson, CEO
Financial information for July - September, 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 -21,455 thousand (-13,382).
- Earnings per share, basic, totaled SEK -0.57 (-0.35).
- Total assets at the end of the period amounted to SEK 138,334 thousand (201,596).
- Cash and cash equivalents at the end of the period totaled SEK 132,976 thousand (196,842).
Financial information for January - September, 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 -53,646 thousand (-35,223).
- Earnings per share, basic, totaled SEK -1.42 (-0.93).
- Total assets at the end of the period amounted to SEK 138,334 thousand (201,596).
- Cash and cash equivalents at the end of the period totaled SEK 132,976 thousand (196,842).
Significant events during the period January - June, 2020
- In January, the company in-licensed a new project, ACD440, which focuses on neuropathic pain and is in 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 took over the position of Chief Scientific Officer in January, which enabled 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 developing and preparing to increase the number of clinical trials, in line with previously announced plans.
- 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 study shows that treatment with ACD856 results in potent memory enhancement in preclinical studies.
- On June 4, the company presented favorable data from the first clinical trial with ACD856, which showed that ACD856 has a good pharmacokinetic profile with a significantly shorter half-life in humans than its predecessor, ACD855, and that the candidate is suitable for further clinical development as an oral therapy for conditions such as Alzheimer's disease.
Significant events during the period July - September, 2020
- During the quarter the company was represented and active in various events, including scientific symposiums focused on Alzheimer's disease arranged with Professor Bengt Winblad at Karolinska Institutet, as well as professor Henrik Zetterberg, active at University College London in the UK and the University of Gothenburg.
Significant events after the end of the period
- AlzeCure Pharma received on November 12, approval to start clinical Phase I trial with ACD856 in Alzheimer's disease.
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 November 17, 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 and is continuously working with business development to find suitable out-licensing solutions with other pharmaceutical companies.
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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